Gaston Gelos is Assistant Director at the Western Hemisphere Department of the IMF. Prior to that, he was the Chief of the Monetary and Macroprudential Policies Division in MCM, and before that, Chief of the Global Financial Stability Analysis Division in the same department, where he led the work on the analytical chapters of the IMF’s Global Financial Stability Report. Previously, he held a variety of positions at the IMF, including as Resident Representative to Argentina and Uruguay. His research includes work on capital flows, financial stability, and monetary policy, and has been published widely in leading academic journals. He holds a Ph.D. from Yale University and a Diplom from Bonn University. He is a CEPR Research Fellow.