Paolo Presenti is Senior Vice President and Monetary Policy Advisor in the Research and Statistics Group of the Federal Reserve Bank of New York. Previously, he taught at Princeton, New York, and Columbia Universities and was a visiting scholar at several research institutions worldwide. He also served as a scientific consultant to the European Central Bank and a resident scholar at the International Monetary Fund. Mr. Presenti is affiliated with the Centre for Economic Policy Research and the National Bureau of Economic Research. His widely published research specializes in international macroeconomics and finance. He is a recipient of the Hicks-Tinbergen Medal of the European Economic Association for his work on international portfolio diversification, and he is coauthor of an award-winning monograph on the crisis of the European Monetary System. He serves on or has been a member of the editorial boards of the Journal of International Economics, the Journal of Money, Credit, and Banking, and the Economic Policy Review. Mr. Presenti holds a Laurea in Economics and Social Studies from Bocconi University and a Ph.D. in Economics from Yale University.