She is Economic Counsellor and Director of the International Monetary Fund's Research Department. She is on leave of public service from the Economics Department of the University of Harvard, where she is the John Zwaanstra Professor of International Studies and Economics. Her research, focusing on international finance and macroeconomics, has been published in many authoritative economic journals. She is the author of many articles on exchange rates, commerce and investment, international financial crises, monetary policy, and debt and crises in emerging markets. She is co-editor of the recent Handbook of International Economics and was previously co-editor of the “American Economic Review” and chief editor of the “Review of Economic Studies”. Previously, she was also co-director of the International Finance and Macroeconomics programme at the National Bureau of Economic Research (NBER), visiting scholar at the Federal Reserve Bank in Boston and a member of the economic advisory panel of the Federal Reserve Bank in New York. From 2016 to 2018 she was Economic Adviser to the Chief Minister of Kerala state in India, and member of the Eminent Persons Advisory Group on G-20 Matters for India's Ministry of Finance.