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Brenda González-Hermosillo


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Brenda González-Hermosillo
Fellow-in-Residence, C.D.Howe Institute; External Consultant, International Monetary Fund

Ph.D. (Economics), Tilburg University, Netherlands


Brenda González-Hermosillo is currently an External Consultant at the International Monetary Fund (IMF), largely involved in training government officials and providing technical assistance. After 23 years of service in various departments (including the Monetary and Capital Markets Department, the Institute for Capacity Development, the Research Department, and as the desk economist in charge of Canada and the U.S.), she retired from the IMF in August 2017. Her last assignment at the IMF as the Deputy Division Chief of the Global Financial Stability Division started in 2007 at the time when the global financial crisis erupted. During this tenure, she was a team leader in charge of the analytical chapters of the semi-annual key flagship publication by the IMF, the Global Financial Stability Report, focussing on global financial markets and vulnerabilities. She led many chapters dealing with systemic risk, liquidity issues, market structures, capital flows, regulatory initiatives, and other key issues pertaining to financial stability in both advanced and emerging market economies.

During 2010-2011, she was Visiting Professor of Finance at the Massachusetts Institute of Technology (MIT) Sloan School of Management, where she taught a graduate course on systemic risk and co-authored a book on the Transmission of Financial Crises and Contagion (Oxford University, 2011). At the IMF Institute for Capacity Development, where she was for seven years, she taught many courses on macroeconomics, monetary and fiscal policies, finance and financial programming to government officials around the world, with concentration on Asia.  Prior to joining the Fund, she served at various Canadian public institutions: as Senior Economist at the Bank of Canada and at the Department of Finance. She also worked as an economist at several Canadian banks (Scotiabank and the Bank of Montreal) after finishing her graduate studies at the University of Western Ontario. She obtained her Ph.D. degree in Economics at Tilburg University in the Netherlands. She finished her bachelor’s degree in Economics at the Instituto Teconologico Autonomo de Mexico (ITAM) in Mexico City where she also worked in the financial and government sectors (such as Mexico’s largest bank Banamex, Mexico’s Ministry of Finance and the central bank).

She was part of the team in charge of crafting the financial services chapter of NAFTA, which was the first international trade agreement that involved a developing country and the first trade treaty that included financial services in addition to traded goods. She has authored numerous publications on global financial stability; financial crises and early warning indicators; global spillovers and contagion; capital flows; international investors' risk appetite; and macroprudential policy. Several of her research papers were published in the Journal of Business and Economics, Quantitative Finance, the Journal of Financial Stability, and the North American Journal of Finance and Economics. She was also a contributing author in numerous books including Robert W. Kolb (ed.), Financial Contagion: The Viral Threat to the Wealth of Nations (Hoboken, NJ: John Wiley & Sons, Inc., 2011); in Lessons from the Financial Crisis: Causes, Consequences, and Our Economic Future (Hoboken, NJ: John Wiley & Sons, Inc., 2010); and Heiko Hesse (ed.), Essays on the Global Financial Crisis (IMF, Washington D.C., 2016).

© 2019 C.D. Howe Institute. All Rights Reserved.
© 2019 C.D. Howe Institute. All Rights Reserved.