s the latest Indian making it to the top of American academia. The India-born Nitin Nohria just became the new dean of the Harvard Business School and Sunil Kumar will take over as the dean of Chicago Booth School of Business next year.She will soon be moving to an office next to that of Mr. Sen, who influenced her during her Delhi School of Economics days in early 90s when he was a guest lecturer there. Kenneth Rogoff, considered by many as currently the greatest macroeconomist in the world, was once one of her thesis advisors and is now a colleague.Ms. Gopinath s work is drawing attention as it deals with some of the pressing issues of the day sovereign debt and exchange rates and their impact on trade. Ms. Gopinath said historical evidence shows that major recessions are often followed by large accumulations of debt and then sovereign debt crisis. In a sense this (European debt) crisis is not unexpected, and may not yet be over, she said. “I do not see how Greece can avoid a restructuring of its debt and it is not clear how the markets of Spain and Portugal will be impacted in the event of a Greek default. On another hot topic of the day, China s undervaluation of the yuan, Ms. Gopinath said she is concerned other emerging markets will follow suit to keep their exports competitive, producing imbalances in other markets. While I do not think that there is a need for a rapid yuan appreciation, http://www.cheaptomsshoesoutletstore.us - toms shoes discount , I do think that a joint strategy where by all emerging markets agree to let their currencies appreciate is a sound, long-term strategy, http://www.cheaptomsoutlet0.com - cheap toms shoes sale . Meanwhile, Ms. Gopinath gives full marks to her mentor Mr. Bernanke on his handling of the global economic crisis, http://www.cheaptomsoutlet0.com - toms shoes sale . Mr. Bernanke has been helped by the fact that he is one of the world’s greatest authorities on the Great Depression of the late 1920s, she said. He has used several unconventional instruments to stop the economy from going off the deep end and I believe he can be credited for preventing a much deeper world recession, she said. Add a Comment Error message Name We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name. Comment Comments (2 of 2) View all Comments 2:05 am August 6, 2010 David E. Shellenberger wrote: Ben Bernanke is doing untold damage to the economy, and the Fed should be abolished. Harvard has too many professors who are out of touch with reality. 9:56 pm August 5, 2010 kurtosis wrote: What a puff piece!What exactly has she said in this piece that is illuminating? I can only ascribe that to the banal piece of reporting. And to report that GG says she doesn t really know how the markets will behave should Greece default/restructure duh! How profound? She has so many interesting papers and a fair bit of nuanced ideas in her quiver. But, no mention of any of that. India Real Time offers quick analysis and insights into the broad range of developments in business, markets, the economy, politics, culture, sports, and entertainment that take place every single day in the world’s largest demo
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