Jeffrey Frankel is James W. Harpel Professor of Capital Formation and Growth at Harvard University’s Kennedy School of Government. He is a Research Associate of the National Bureau of Economic Research (NBER). His research interests include currencies, crises, commodities, international finance, international trade, monetary and fiscal policy, and global environmental issues. He co-directs the NBER International Seminar on Macroeconomics and Harvard’s conference on Politics and Economics of International Finance.