CEA Fellow: Michael B. Devereux

Michael B. Devereux is an international macro economist and a professor at the Vancouver School of Economics at the University of British Columbia, where he has been since 1992. Prior to moving to UBC he held positions at the University of Toronto and Queen’s University. He obtained his PhD from Queen’s University under the supervision of Doug Purvis.

His research focuses on exchange rate determination, the link between exchange rates and prices, and international aspects of monetary and fiscal policy. All his research is motivated by practical issues of policy making in open economies. Among his major research contributions, he has pioneered the analysis of the link between goods prices and exchange rates, exploring the consequences of different forms of pricing of goods in international trade, the analysis of optimal monetary policy in an open economy, and the understanding of financial and capital flows between countries in a world of integrated financial markets. He has also written extensively on the challenge of macro policy making in emerging market economies. More recently he has worked on the analysis of tariff determination in a global macroeconomy.

He has published widely in many leading economics journals, including the American Economic Review, the Review of Economic Studies, the Quarterly Journal of Economics, the Journal of Monetary Economics, and the Journal of International Economics. He is a Fellow of the Royal Society of Canada, and a recipient of the 2010 CEA Rea Prize. He was named the inaugural Bank of Canada Fellow, in 2003 and was renewed for a second term in 2008. He is a Research Associate with both the NBER and CEPR, and a member of the C.D. Howe Monetary Policy Committee. From 2008 to 2018 he was a special advisor to the Federal Reserve Bank of Dallas, and from 2004 to 2019 he was a member of the Bellagio group for economic policy analysis. He has maintained extensive collaborations with researchers across Canada and worldwide. Many of his collaborators are former PhD students, indicating the deep connections that Mick fosters as an advisor. He has mentored dozens of PhD students who have enjoyed success in academic and professional positions around the world, further evidence of Mick’s lasting impact on UBC Economics, the field, and the profession.