Prakash Loungani

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Prakash Loungani is a macroeconomist known for his work on the difficulty of forecasting recessions (“the record of failure to predict recessions is virtually unblemished”), which has been featured in the Financial Times and The Guardian and on the BBC. He has nudged macroeconomists towards adopting the goal of “inclusive growth” through research on understanding and lowering unemployment (“Okun’s Law: Fit at 50?”); documenting the impact of austerity on inequality (“Painful Medicine”); and uncovering the role of unfettered capital mobility across national borders in lowering labor’s share of income (“Opening Up to Inequity”). His early research focused on understanding the impacts of oil prices on the economy. He is an advisor and senior personnel manager in the International Monetary Fund's Independent Evaluation Office. He blogs as The Unassuming Economist.