Jay Shambaugh


Former Chief Economist at the White House Council of Economic Advisers

Jay Shambaugh a Professor of Economics and International Affairs at the Elliott School of International Affairs at The George Washington University. He was recently the Director of the Hamilton Project at Brookings and a Senior Fellow in Economic Studies at Brookings from 2017-2020. He has spent two stints in public service. Most recently, he served as a Member of the White House Council of Economic Advisers (2015-2017) where he was involved in policy related to international economics, macroeconomics, competition policy, energy and environment policy, housing, finance, technology, as well as other issues. He also served as a Senior Economist for International Economics and then as Chief Economist at the White House Council of Economic Advisers (2009-2011).

Prior to joining the faculty at George Washington, Jay taught at Georgetown and Dartmouth. He is also a Research Associate at the NBER and has been a visiting scholar at the IMF. Jay received his PhD in economics from the University of California at Berkeley, MA from the Fletcher School at Tufts, and BA from Yale University.

Jay’s area of research is macroeconomics, fiscal policy, and international economics. His work includes analysis of the interaction of exchange rate regimes with monetary policy, capital flows, and trade flows as well as studies of international reserves holdings, country balance sheet exchange rate exposure, the cross-country impact of fiscal policy, the crisis in the euro area, and the intersection between trade and regional inequality. In addition to his book, Exchange Rate Regimes in the Modern Era (MIT Press, 2009), Jay has published in The American Economic Review, The Quarterly Journal of Economics, and other leading journals. He has also edited four policy related books on tax policy, fiscal automatic stabilizers, regional inequality, and wage growth.