Patrick J Kehoe

Patrick J. Kehoe is a Professor of Economics at Stanford University's Department of Economics, part of the School of Humanities and Sciences. He joined Stanford in 2015, following roles at the University of Minnesota, Princeton University, University College London, and the University of Pennsylvania. He holds a PhD in Economics from Harvard University (1986). His research focuses on international macroeconomics, business cycle modeling, and financial frictions, with recent emphasis on quantifying the Great Recession and optimal policy responses.

Education:

• PhD in Economics, Harvard University, 1986
• Previous faculty positions at the University of Minnesota (Frenzel Professor of International Economics), Princeton (Frank Graham Professor), and others.

Research Interests: Kehoe explores macroeconomic policies, financial crises, and international economic integration. His work includes developing models to explain unemployment volatility, fiscal federalism in monetary unions, and the impact of minimum wage policies. His research integrates theoretical frameworks with empirical analysis of real-world business cycle dynamics.

Key Contributions: His analysis of sudden stops in capital flows, the role of credit frictions in economic downturns, and the historical fiscal-monetary dynamics of Brazil highlight his interdisciplinary approach. Recent papers address the macroeconomic implications of labor market policies and global financial cycles.

Awards & Roles:

• Fellow of the Econometric Society
• Senior Fellow, Stanford Institute for Economic Policy Research
• Monetary Adviser, Federal Reserve Bank of Minneapolis
• Faculty Research Fellow, National Bureau of Economic Research (NBER)

His advisory roles and over 50 NBER working papers underscore his influence in shaping policy discussions on monetary and fiscal frameworks.

Labs/Teams: Collaborates with institutions like NBER and the Federal Reserve, contributing to research networks focused on macroeconomic policy and international finance.