Jeffrey Frankel

Jeffrey Frankel is a professor at Harvard's Kennedy School of Government who served on President Clinton's Council of Economic Advisers. His research spans exchange rate determination, commodity price forecasting, monetary policy rules (particularly the Taylor Rule and its alternatives), and international trade policy. He is known for the Frankel-Romer model of trade and growth, and for his work on the failure of exchange rate models to outperform random walks. Frankel contributes regularly to Project Syndicate, VoxEU, and major economics publications. His empirical research on the commodity currency hypothesis — testing whether exchange rates of resource-exporting countries are systematically driven by global commodity prices — has provided a framework that currency traders and macro investors use to assess the fundamental value of currencies including the Australian dollar, Canadian dollar, and currencies of major commodity-exporting emerging economies.