home > the cfr think tank > experts > brad w. setser
Fellow for Geoeconomics
Contact Info:
Phone: +1-212-434-9639
E-mail: bsetser@cfr.org
Location:
New York, NY
Media downloads:
High-resolution photo (JPG, 1.2 MB)
One-page bio (PDF, 36K)
Applied international economist with experience at the U.S. Treasury and the International Monetary Fund. Currently examining central bank reserve growth, sovereign wealth funds, and the political implications of emerging market financing of the United States. Author of the recent Council Special Report, Sovereign Wealth and Sovereign Power.
Expertise:Central bank reserves and sovereign wealth funds, IMF policy, emerging market economies.
Experience:Senior economist, RGEMonitor (2004 - 2007); International Affairs Fellow, Council on Foreign Relations (2003); visiting scholar, International Monetary Fund (2002, 2004); U.S. Treasury, International Affairs (1997 - 2001), last serving as the acting director of the office for international monetary and financial policy.
Languages:French (fluent).
Selected Publications:The Political Economy of the Sovereign Debt Restructuring Mechanism (as part of the project on Debt Restructuring and Sovereign Bankruptcy, Initiative for Policy Dialogue, Columbia University; January 2008); Oil and Global Adjustment (Peter G. Peterson Institute for International Economics, March 2007); The Chinese Conundrum: External Financial Strength, Domestic Financial Weakness (CESifo Economic Studies, May 2006); The Future of the IMF: A Reform Agenda (with Nouriel Roubini, World Economic Forum, October 2005); Debt-Related Vulnerabilities and Financial Crises (with Nystedt et al, IMF Occasional Paper 240, October 2005); How Scary is the Deficit? Our Money, Our Debt, Our Problem (with Nouriel Roubini, Foreign Affairs, July/August 2005); Bailouts or Bail-ins? Responding to Financial The U.S. as a Net Debtor: The Sustainability of U.S. External Imbalances(with Nouriel Roubini, Peterson Institute, September 2004); Domestic and External Debt: The Doomed Quest for Equal Treatment (with Anna Gelpern, Georgetown Journal of International Law, Summer 2004); A Balance Sheet Approach to Financial Crises (with Allen et al, IMF Working Paper 02/210, December 2002); The Bottom Line (with Keller et al, Finance and Development, 39:4, December 2002).
Interviews:
Related Links:
Brad Setser: "Follow the Money" (blog)
CFR's International Institutions and Global Governance Program
June 2, 2009
Podcast
CFR's Brad Setser examines U.S. Treasury Secretary Timothy Geithner's statements about the need to rebalance China economic relations with the United States and says China shouldn't be overly concerned about the risks of U.S. inflation.
See more in China, Geoeconomics
May 2009
Other Report
In this Center for Geoeconomic Studies Working Paper (an update of their January 2009 paper), Brad W. Setser and Arpana Pandey estimate the true scale of China’s U.S. portfolio and examine how the pace of growth and composition of China’s portfolio have evolved over time.
See more in China, Geoeconomics
April 2009
Other Report
The scale of financing needed to support the U.S. fiscal deficit—together with the Federal Reserve’s policy of keeping U.S. interest rates low to ward off deflation—has revived concerns about a sudden and sharp depreciation of the U.S. dollar. This Center for Preventive Action Contingency Planning Memorandum by Brad W. Setser examines potential triggers and indicators of such a crisis and posits concrete policy options to limit U.S. vulnerability to the possibility of a plummeting dollar.
See more in United States, Geoeconomics
April 21, 2009
Op-Ed
Foreign Policy
Brad W. Setser argues that the underlying issues responsible for the financial crisis have yet to be addressed.
See more in Financial Crises, International Finance
March 2009, Volume 46, Number 1
Op-Ed
Finance and Development
Brad Setser argues that the internal decisions countries make during and after a crisis--rather than their participation in international summits--will be the driving force to reform the international financial system.
See more in Financial Crises, International Finance, International Organizations
January 29, 2009
Testimony
See more in United States, Economics
January 29, 2009
Op-Ed
Vox
Brad Setser argues that while national policy considerations dominate debates on macroeconomic policies, these debates need to take into account the global consequences of their policy choices.
See more in Economics, International Organizations
January 8, 2009
Article
China Security
Brad W. Setser writes about the United States' dependency on China as its largest creditor. He argues that the U.S. government should look to transition to a world in which more U.S. investment is financed by the United States' own savings.
See more in China, Geoeconomics, International Finance
January 2009
Other Report
For several years, high oil prices enabled the Gulf Cooperation Council countries to add large sums to their state coffers. Falling oil prices imply that some Gulf countries may need to draw on their depleted funds to cover their import bills. In this Center for Geoeconomic Studies Working Paper, Brad W. Setser and Rachel Ziemba examine the impact of the fall in global equities on the Gulf’s large funds and explore how various oil price scenarios could shape those funds’ future growth.
See more in Middle East, Gulf States, Economics
November 14, 2008
Expert Brief
The Gulf and the financial crisis.
See more in Middle East, International Finance, Energy
November 14, 2008
Video
Experts from the Council on Foreign Relations, The Economist, and New York University Stern School of Business discuss the status of global finance and how the incoming Obama administration should handle the dire economic situation.
See more in United States, Financial Crises, International Finance
November 12, 2008
Audio
Listen to CFR experts Sebastian Mallaby, Benn Steil, and Brad Setser discuss the G20 international financial summit-dubbed Bretton Woods II-taking place in Washington, DC on November 15.
November 12, 2008
Transcript
A discussion on the current economic crisis.
See more in Economics, Business & Foreign Policy, Financial Crises, International Finance
November 11, 2008
Audio
Experts from the Council on Foreign Relations, The Economist, and New York University Stern School of Business discuss the status of global finance and how the incoming Obama administration should handle the dire economic situation.
See more in Financial Crises, U.S. Election 2008
September 25, 2008
Transcript
A panel discussion on what caused the financial crisis and what should be done to solve it.
See more in United States, Financial Crises, International Finance
September 25, 2008
Audio
Listen to experts discuss the current financial crisis, the proposed government bailout, and options for moving forward.
See more in Financial Crises
September 25, 2008
Video
Watch experts discuss the current financial crisis, the proposed government bailout, and options for moving forward.
See more in Financial Crises
September 10, 2008
Testimony
Brad Setser argues that the best way to address concerns over sovereign wealth are policy shifts in the United States and abroad that would reduce surpluses abroad and U.S. deficits, and bring the U. .external deficit back to a level that could be more easily be financed by private demand for U.S. assets.
See more in Economics
September 9, 2008
News Release
See more in United States, Geoeconomics, International Finance
September 9, 2008
Audio
Listen to CFR Fellow Brad Setser discuss sovereign wealth funds in relation to the U.S. deficit.
See more in Business & Foreign Policy, Financial Crises, International Finance
Explore international efforts to curb nuclear proliferation with a new interactive from CFR's program on International Institutions and Global Governance.
The Canadian oil sands present an important challenge to policymakers: they promise energy security benefits but present climate change problems. Michael A. Levi assesses the energy security and climate change effects of the oil sands and makes recommendations for U.S. policymakers within the context of broader bilateral relations with Canada.
This report explores an important element of the maritime policy regime: the United Nations Convention on the Law of the Sea. Author Scott G. Borgerson examines the international negotiations that led to the convention, the history of debates in the United States over whether to join it, and the strategic importance of the oceans for U.S. foreign policy today.
Complete list of Council Special Reports
In War of Necessity, War of Choice, Richard N. Haass contrasts the decisions that shaped the conduct of two wars between the United States and Iraq involving the two presidents Bush and Saddam Hussein, and writes an authoritative, personal account of how U.S. foreign policy is made, what it should seek, and how it should be pursued.
In Cuba: What Everyone Needs to Know, Julia E. Sweig presents a remarkably accessible portrait of Cuba’s unique place on the world stage over the past fifty years, including its internal politics, its often fraught relationship with the United States, and its shifting relationship with the global community.
As Ray Takeyh shows in Guardians of the Revolution, behind the famous personalities and extremist slogans of Iran is a nation that is far more pragmatic—and complex—than many in the West have been led to believe.
Complete list of CFR Books
For more information on the David Rockefeller Studies Program, contact:
Sebastian Mallaby
Director of the Maurice R. Greenberg Center for
Geoeconomic Studies, Deputy Director of Studies, and Paul A. Volcker Senior
Fellow for International Economics
smallaby@cfr.org
Janine Hill
Deputy Director of Studies Administration
+1.212.434.9753
jhill@cfr.org
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