ERNESTO STEIN Education: 8/89 to 7/94 Ph.D. in Economics, University of California at Berkeley. Specialization in international trade and finance and industrial organization. Additional coursework in economic development. 3/83 to 12/86 University of Buenos Aires, Argentina, Facultad de Ciencias Economicas. Received the degree of Licenciado en Economía. Professional Experience: 8/94 to present Current position: Lead Research Economist at Research Department, Inter- American Development Bank. Conducted research in the areas of policymaking processes and policy outcomes, regional integration, foreign direct investment, exchange rate regimes, budget institutions, fiscal federalism, and political economy of stabilization and exchange rate policy (see publications). Helped design bank strategy in lending to subnational governments. Participated in several loans to provincial and municipal governments in various countries. Coordinated different parts of the Economic and Social Progress Report (1997, 2002). Advised governments on a number of policy issues, including decentralization, fiscal institutions and exchange rate regimes. 1/93 to 5/94 Graduate Student Researcher for Professor Jeffrey Frankel, University of California at Berkeley, Department of Economics. Participated in project on regionalism in trade. 5/92 to 8/92 Summer Intern, World Bank. Participated in project to establish the effects of sterilized intervention during the early 1990s episode of capital flows to Latin American countries. In particular, the cases of Colombia, Chile and Mexico were examined. The project was supervised by Miguel Kiguel and Leonardo Leiderman. 1/90 to 5/92 Graduate Student Instructor, University of California at Berkeley, Department of Economics, courses on Principles of Economics and International Economics. 6/91 to 7/91 Graduate Student Researcher for Professor Albert Fishlow, University of California at Berkeley, Department of Economics. Conducted bibliographical search and data analysis regarding the importance of regionalization in the pattern of international trade. 3/88 to 7/89 Junior Researcher, Center for International Economics, Buenos Aires (UNDP Project). Participated in several projects regarding the relationship between technology, international competitiveness and trade. 1
3/87 to 3/88 Junior Researcher, Secretary of Industry and Foreign Trade, Buenos Aires (World Bank Project). Participated in a team that offered technical assistance to the Secretary in relation to the Agreement of Integration in Capital Goods between Argentina and Brazil. 7/85 to 3/88 Economic Analyst and Consultant, Latinequip S.A., Buenos Aires. Participated in study of world trade in capital goods, and acted as consultant for private exporters of capital goods. Published Work: Ghezzi, P., E. Stein and J. Streb, 2005, Real Exchange Rate Cycles Around Elections, forthcoming, Economics and Politics. Blomberg, B., J. Frieden and E. Stein, 2005, Sustaining Fixed Rates: The Political Economy of Currency Pegs in Latin America, forthcoming, Journal of Applied Economics. Hausmann, R., E. Stein and U. Panizza, 2004. Original Sin, Passthrough and Fear of Floating" in M. Blejer and M. Škreb (eds.) Financial Vulnerability and the Exchange Rate Regime. The Emerging Markets Experience, MIT Press. Fernandez Arias, E., E. Stein and U. Panizza, 2004. Trade Agreements, Exchange Rate Disagreements, in V. Alexander, J. Mélitz, and G. M. von Furstenberg (eds.) Monetary Unions and Hard Pegs: Effects on Trade, Financial Development, and Stability, Oxford University Press. Gaviria, A., U. Panizza, J. Seddon and E. Stein Political Institutions and Growth Collapses Latin American Journal of Economic Development. 2004 Stein, E. and J. Streb, 2004, Elections and the Timing of Devaluations, Journal of International Economics, vol. 63(1). Levy Yeyati, E., E. Stein and C. Daude, 2004, The FTAA and the Location of FDI, in A. Estevadeordal, D. Rodrik, A. Taylor and A.Velasco (eds.) Integrating the Americas: FTAA and Beyond, Harvard University Press. Micco, A., E. Stein and G. Ordoñez, 2003. The Currency Union Effect on Trade: Early Evidence from EMU, Economic Policy, October. Levy Yeyati, E., E. Stein and U. Panizza, 2003, The cyclical nature of North- South FDI flows, Working paper # 479, Research Department, Inter-American Development Bank. Forthcoming in the Journal of International Money and Finance. Seddon, J., A. Gaviria, U. Panizza and E. Stein, 2002, Political Particularism Around the World, World Bank Economic Review. 2
Hausmann, R., U. Panizza and E. Stein, 2002, Original Sin, Passthrough and Fear of Floating" in M. Blejer and M. Škreb (eds.) Financial Vulnerability and the Exchange Rate Regime. The Emerging Markets Experience MIT Press. Panizza, U., E. Stein and E. Talvi, 2002, Measuring Costs and Benefits of Dollarization: An Application to Central American and Caribbean Countries, in F Sturzenegger and E. Levy Yeyati (eds.), Dollarization, MIT Press. Hausmann, R., U. Panizza and E. Stein, 2001, Why do Countries Float the Way they Float? Journal of Development Economics, December 2001, vol. 66. Frieden, J. and E. Stein (eds.), 2001, The Currency Game: Exchange Rate Politics in Latin America, Inter-American Development Bank and Johns Hopkins University Press. Ghezzi, P., J. Frieden, and E. Stein, 2001, Politics and Exchange Rates: A Cross-Country Approach, in J. Frieden and E. Stein (eds.), The Currency Game: Exchange Rate Politics in Latin America, Inter-American Development Bank and Johns Hopkins University Press. Alesina, A., R. Hausmann, R. Hommes and E. Stein, 1999, Budget Institutions and Fiscal Performance in Latin America, Journal of Development Economics, August 1999, vol. 59 (2). Stein, E., 1999, Fiscal Decentralization and Government Size in Latin America, Journal of Applied Economics, Volume 2, No. 2, November Stein, E., E. Talvi and A. Grisanti, 1998, Institutional Arrangements and Fiscal Performance: The Latin American Experience, NBER Working Paper No. 6358, forthcoming in Poterba, J. and J. von Hagen, eds., Fiscal Institutions and Fiscal Performance, University of Chicago Press. Stein, E. and J. Streb, 1998, Political Stabilization Cycles in High Inflation Countries, Journal of Development Economics, June 1998, vol. 56 (1). Frankel, J., E. Stein and S. Wei, 1998, Continental Trading Blocs: Are they Natural or Super-Natural?, in J. Frankel, ed., The Regionalization of the World Economy, University of Chicago Press. Spilimbergo, A. and E. Stein, 1998, Trading Blocs Among Countries with Different Endowments, in J. Frankel, ed., The Regionalization of the World Economy, University of Chicago Press. Frankel, J., with E. Stein and S. Wei, 1997, Regional Trading Blocs in the World Economy, Institute of International Economics, Washington D.C., October. Stein, E. and E. Talvi, 1997, Fiscal Stability with Democracy and Decentralization, Section 3 in Economic and Social Progress Report, Inter- American Development Bank, Washington D.C. 3
Book Review of Crisis and Reform in Latin America: From Despair to Hope, by Sebastian Edwards, Journal of International Economics, Vol.43, No. 3-4, November 1997 Frankel, J, E. Stein and S. Wei, 1996, Regional Trading Arrangements: Natural or Supernatural?, American Economic Review, May. Hausmann, R. and E. Stein, 1996, Searching for the Right Budget Institutions for a Volatile Region, in R. Hausmann and H. Reisen, eds., Securing Stability and Growth in Latin America, OECD, Paris, February. Frankel, J., S. Wei and E. Stein, 1995, APEC and Regional Trading Arrangements in the Pacific, in W. Dobson and F. Flatters, eds., Pacific Trade and Investment: Options for the 90s, John Deutsch Institute, Queens. Frankel, J., E. Stein and S. Wei, 1995, Trading Blocs and the Americas: The Natural, the Unnatural and the Supernatural, Journal of Development Economics, June 1995, 47(1). Working Papers and Other Recent Research: Stein, E., and C. Daude, 2005, Longitude Matters: Time Zones and the Location of FDI,, Inter-American Development Bank, mimeo. Under review at the Journal of International Economics. Spiller, P., E. Stein and M. Tommasi, 2003, Political Institutions, Policymaking Processes and Policy Outcomes: An Intertemporal Transactions Framework, Inter-American Development Bank, mimeo. Fernandez-Arias, E. R. Hausmann and E. Stein, 2001, Courting FDI: Is Competition Bad?, Inter-American Development Bank, mimeo. Stein, E., and C. Daude, 2001, Institutions, Integration, and the Location of FDI, Inter-American Development Bank, mimeo. Under review at Economics and Politics. Gaviria, A., and E. Stein, 2000 The Evolution of Urban Concentration Around the World: A Panel Approach, Research Department Working Paper No. 414, Inter-American Development Bank, April. Gaviria, A., U. Panizza, J. Seddon and E. Stein, 2000 Political Institutions and Growth Collapses, Research Department Working Paper No. 419, Inter- American Development Bank. Hausmann, R., M. Gavin, C. Pages-Serra and E. Stein, 1999, Financial Turmoil and the Choice of Exchange Rate Regime, Research Department Working Paper No. 400, Inter-American Development Bank, January. Frieden, J., P. Ghezzi and E. Stein, 1998, The Political Economy of Exchange 4
Rate Policy in Latin America, Inter-American Development Bank, mimeo. Stein, E. and D. Weinhold, 1998, Canada-US Border Effects and the Gravity Model of Trade, Inter-American Development Bank, mimeo. Stein, E. and J. Frankel, 1994, "The Welfare Implications of Continental Trading Blocs in a Model with Transport Costs", Pacific Basin Working Paper Series, No. PB94-03, Federal Reserve Bank of San Francisco. Other: Referee for American Economic Review, Quarterly Journal of Economics, Review of Economics and Statistics, Journal of International Economics, Journal of Development Economics, European Economic Review, Journal of Applied Economics and Journal of International Trade and Economic Development. Awards and Scholarships: 2002 1994 Most outstanding team award, Inter-American Development Bank, for 2002 Economic and Social Progress Report, Beyond Borders: The New Regionalism in Latin America. Journal of Development Economics Prize for best dissertation in the area of Development Economics. 1993 MacArthur Interdisciplinary Group on International Security Studies Dissertation Fellowship. 1992 Chiles Foundation Fellowship. 1992 University of California Fellowship. 1991 Elliot J. Swan Prize for Outstanding Performance as a first year doctoral student in Economics, University of California at Berkeley. 1989 Ford Foundation Fellowship. 1988 Fulbright Fellowship. Personal Information: Born December 9, 1960 in Buenos Aires, Argentina. Married, three children. 5