Patrick Kehoe is a Monetary Advisor and has been affiliated with the Bank since 1986. He is a Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR) and Professor of Economics at the Stanford Economic Department, positions he has held since 2015. Prior to that, he taught at the University of Minnesota, where he was a Frenzel Professor of International Economics, Princeton University, where he was a Frank Graham Professor of International Economics, the University College London, and the University of Pennsylvania, where he was the Lauder Professor of International Economics.
He received his PhD in economics from Harvard University in 1986. His research focuses on international macroeconomics. Recently, he has focused on developing business cycle models that quantitatively account for the Great Recession and developing optimal bailout policies during such downturns. Prior to that he worked on categorizing patterns of business cycles across countries and over time, new models of financial frictions, optimal monetary and fiscal policy, time inconsistency issues in policies.
Kehoe is a Fellow of the Econometric Society, a Senior Fellow at the Stanford Institute for Economic Policy Research, and a Faculty Research Fellow at the National Bureau of Economic Research. He has been on the Board of Editors of the American Economic Review, a co-editor of the International Economic Review, an associate editor of the Journal of International Economics, and an associate editor of the Quarterly Review of the Federal Reserve Bank of Minneapolis.