Athanasios Orphanides

Athanasios Orphanides is a Professor of the Practice of Global Economics and Management at the MIT Sloan School of Management. He is also an honorary advisor to the Bank of Japan’s Institute for Monetary and Economic Studies, a member of the Shadow Open Market Committee, a Research Fellow at the Centre for Economic Policy Research, a Senior Fellow at the Center for Financial Studies, a Research Fellow at the Institute for Monetary and Financial Stability, and a Fellow at the European Money and Finance Forum (SUERF). His research interests are on central banking, finance, and political economy. Before joining MIT Sloan, he held positions at central banks in the United States and in Europe. From May 2007 to May 2012, he served a five-year term as governor of the Central Bank of Cyprus and was a member of the Governing Council of the European Central Bank. Following the creation of the European Systemic Risk Board in 2010, he was elected a member of its first Steering Committee. Earlier, he served as senior advisor at the Board of Governors of the Federal Reserve System, where he had started his professional career as an economist.

Athanasios Orphanides is a researcher whose work focuses on monetary policy, macroeconomic stability, and the role of expectations in economic decision-making. His research explores the implications of imperfect information, inflation expectations, and the natural rate of output in shaping monetary policy rules. He has examined the effectiveness of monetary policy under various conditions, including zero nominal interest rates and the impact of terrorism on macroeconomic outcomes. His studies also address the reliability of output-gap estimates and their influence on inflation forecasts. Orphanides' work emphasizes the importance of robust policy frameworks that account for uncertainty and learning processes in economic environments.