Philip R. Lane

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Philip R. Lane
Governor of the Central Bank of Ireland
Assumed office
3 November 2015
Taoiseach Enda Kenny
Leo Varadkar
Preceded by Patrick Honohan
Personal details
Born Philip Richard Lane
(1969-08-27) 27 August 1969 (age 49)
Dublin, Ireland
Nationality Irish
Spouse(s) Orla Lane[1]
Children 2
Alma mater
Website Official website

Philip Richard Lane (born 27 August 1969) is an Irish economist who has served as the Governor of the Central Bank of Ireland since November 2015.[1] In this role he is a member of the Governing Council and General Council of the European Central Bank.

He was the professor of international macroeconomics and Director of the Institute for International Integration Studies (IIIS) at Trinity College, Dublin. He studied at Trinity College, Dublin and was elected a scholar in Economic and Social Studies there, before receiving a doctorate in Economics at Harvard University in 1995. He then became Assistant Professor of Economics and International Affairs at Columbia University during 1995-1997, before returning to Trinity College, Dublin in 1997. He remains affiliated with Trinity College as Whatley Professor of Political Economy (on leave). He was a research fellow of the Centre for Economic Policy Research and had been a visiting scholar at the International Monetary Fund and the Federal Reserve Bank of New York and a consultant to the European Commission. He is among the "Top 5% of Economists in the World" according to IDEAS/RePEc.[2]

He has also chaired the Advisory Scientific Committee of the European Systemic Risk Board and was Director of the International Macroeconomics and Finance Programme at CEPR. He has also acted as an academic consultant for the European Central Bank, World Bank, OECD, Asian Development Bank and a number of national central banks. In September 2016, he was appointed as chair of the ESRB High-Level Task Force on Safe Assets.


His research interests include international economics, economic growth, European Monetary Union and Irish economic performance. He is best known for his work on the voracity effect, by which a positive shock perversely reduces economic growth through more-than-proportionate fiscal redistribution[3] and for his measurements of the stocks of foreign assets.[4][5]


Lane appeared regularly in the media prior to his appointment as Governor of the Central Bank of Ireland.[6] The Central Bank of Ireland's reputation was badly damaged in the Irish financial crisis. Lane has taken actions to address some of the main criticisms (e.g. break from "green jersey agenda", explicit mortgage controls, and the new modified gross national income metric), there is evidence[citation needed] other issues remain (e.g. commercial property bubbles, and light-touch regulation), and that new controls, such as mortgage limits, are being circumvented by Irish banks and even the Irish State itself[citation needed].

Other activities[edit]

See also[edit]


  1. ^ a b "Governing hand: Philip Lane takes charge of Central Bank in recovering economy". Irish Times. 8 January 2016. 
  2. ^ [1]
  3. ^ A Tornell and PR Lane 1999: The Voracity Effect, American Economic Review 89: 22-46
  4. ^ [2]
  5. ^ PR Lane and GM Milesi-Ferretti, The External Wealth of Nations, Journal of International Economics 55: 263-294 doi
  6. ^ IHT, 1 Jun 2008
  7. ^ Members International Monetary Fund (IMF).

External links[edit]