RESEARCH DEPARTMENT
RESEARCH DEPARTMENT

Res authors Detail

Chief Economist and General Manager of the Research Department
ERIC PARRADO HERRERA
ERIC PARRADO HERRERA

Eric Parrado Herrera is Chief Economist and General Manager of the Research Department of the Inter-American Development Bank (IDB) since March 2019. Before joining the IDB, he was a professor of economics and finance at the ESE Business School of the Universidad de los Andes in Santiago, Chile. Mr. Parrado is a visiting professor at Oxford University and ETH Zürich, and a member of the World Economic Forum's Global Future Council on Frontier Risks. From 2014 to 2018 he was the Superintendent of Banks and Financial Institutions in Chile, where he promoted reforms such as the modernization of banking legislation and the creation of new instruments for financial inclusion.

Between 2011 and 2014, he was advisor to the Financial Committee that counsels the Ministry of Finance on the investment policy of Chile's sovereign wealth funds and professor at the Adolfo Ibáñez University. Between 2007 and 2010, he was International Finance Coordinator of the Chilean Ministry of Finance, managing Chile's sovereign wealth funds and playing a key role in the development and promotion of best practices—known internationally as the Santiago Principles —for the world's sovereign wealth funds. From 2004 to 2007, he served as Senior Economist and Financial Stability Manager at the Central Bank of Chile and, from 2001 to 2004, as an Economist at the International Monetary Fund.

In 2018, ComunidadMujer distinguished Mr. Parrado as a leader in gender equality for his work on the empowerment and economic self-reliance of women in Chile. In 2016, he was admitted to the Circle of Honor of the Faculty of Economics and Business of the University of Chile. In 2011, he was named Young Global Leader by the World Economic Forum; in 2009, the Inter-American Development Bank and the Americas Business Council named him as one of a new generation of leaders in the Americas.

In his career, Mr. Parrado has focused on monetary, fiscal and financial policy, advising central banks on managing inflation targeting regimes and implementing sovereign wealth funds in several countries. He has also written several academic articles on monetary policy, fiscal policy and sovereign wealth funds.

Mr. Parrado, a Chilean national, has a degree in commercial engineering from the University of Chile and holds a master's and PhD in economics from New York University.

 

LATEST OPINION PIECES

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A Critical Moment for Central Bank Autonomy

Central banks in Latin America and the Caribbean have undoubtedly been part of the solution to our current crisis. Their prompt and effective reactions were made possible by the hard-won credibility that they gained in recent years. Behind those gains is the autonomy delegated to them to formulate and implement monetary policy to achieve their […]

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The New GDLab Takes on Discrimination and Inequality

Latin America and the Caribbean is one of the most unequal regions  of the world, with the richest 10% of the population earning 22 times more than the poorest 10%. Inequalities in the region stem in part from cultural origin, gender, ethnicity, and sexual orientation and are deeply rooted in history and social norms. While […]

The post The New GDLab Takes on Discrimination and Inequality appeared first on Ideas Matter.

How the Fall in Remittances During the Pandemic Threatens Regional Wellbeing

Remittances, transfers from expatriate workers to family and friends in their home countries, are a driving force in the reduction of poverty, greater financial inclusion and economic growth. They are especially critical to many countries in Latin America and the Caribbean. But as Covid-19 delivers devastation to much of the global economy, with GDP forecasts […]

The post How the Fall in Remittances During the Pandemic Threatens Regional Wellbeing appeared first on Ideas Matter.

How Gender Discrimination Stops Women from Getting Loans

It is no secret that in Latin America and the Caribbean, as in much of the world, women are less likely to be paid an equal wage or to be approved for a loan. This is shameful in and of itself. But it is difficult to know how much of the discrimination is due to […]

The post How Gender Discrimination Stops Women from Getting Loans appeared first on Ideas Matter.

Investing to Create Better Societies Without Sacrificing Returns

For a long time, investors eager to use their money to improve the world through socially and environmentally conscious investments worried that they would be sacrificing returns in the process. No longer. Investing that takes into account environmental, social and corporate governance (ESG) factors often equals or even outperforms investments that ignore these factors. Today […]

The post Investing to Create Better Societies Without Sacrificing Returns appeared first on Ideas Matter.

Policies to Fight the Pandemic in Latin America

Latin America and the Caribbean—like the rest of the world—is facing a challenge like none in its modern history. The coronavirus, with no vaccine or cure to curb it yet, has swept every continent, infecting more than 3.1 million people and killing more than 220,000 as of late April. Without a determined health response, it […]

The post Policies to Fight the Pandemic in Latin America appeared first on Ideas Matter.

Ensuring that the Gains from Trade are Inclusive and Sustainable

Thirty years ago, as part of their development strategy, and after many years of protectionism, the countries of Latin America and the Caribbean embarked on a process of ambitious trade liberalization. This was only one of many different reforms made in the framework of the Washington consensus. But it was without question the most important […]

The post Ensuring that the Gains from Trade are Inclusive and Sustainable appeared first on Ideas Matter.

The Unique and Essential Mission of Multilateral Research Departments

“What keeps you up at night?” That was a question posed to a gathering of leaders from government institutions around Latin America and the Caribbean some 25 years ago. In asking that question, the Research Department at the Inter-American Development Bank (IDB) laid down a mission that it has zealously pursued ever since. It’s not […]

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How Can Latin America and the Caribbean Avoid the Next Financial Crisis?

The crash on the New York stock exchange in 1929 brought depression to the world. That is probably why when the global financial crisis broke in 2008, some observers thought the contagion originating in New York would again spread south, causing  a collapse in Latin America and the Caribbean. But that didn’t happen. Why? The region’s internal situation in […]

The post How Can Latin America and the Caribbean Avoid the Next Financial Crisis? appeared first on Ideas Matter.

Why We Are Distilling Our Research Studies into Three Pages

Yesterday, I received 150 e-mails. All in all, it was an average day. During busy times, I can get as many as 250, and only rarely do I receive fewer than 100. Along with the emails, there are the text messages and everything I receive from social networks, news apps, radio, traditional newspapers and magazines, […]

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A Nobel Prize for Development: A Look From Inside the IDB

The awarding of the 2019 Nobel Prize in Economics to Abhijit Banerjee, Esther Duflo and Michael Kremer hits close to home for several reasons. First, in bringing “an experimental approach to alleviating global poverty,” as the Nobel committee said in its Oct. 14 announcement of the prize, these distinguished economists have changed the way we […]

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Fighting Inflation With Better Communication

As the chair of the United States Federal Reserve from 2006-2014, Ben Bernanke liked to say that monetary policy is 98% talk and only two percent action. In other words, what the central bank says is hugely important. It can affect households, firms, and market expectations, and, in turn, impact the economy. That message could not […]

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As External Challenges Loom, Boosting Growth from Within

Latin America and the Caribbean faces uncertain times. Weaker than expected growth in the United States, together with lower corporate earnings and higher interest rates, could lead to a 2.4% accumulated loss in GDP in our region from 2019-2021. Less demand from China might trigger a drop in GDP over the same period, and Brexit […]

The post As External Challenges Loom, Boosting Growth from Within appeared first on Ideas Matter.

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