Athanasios Orphanides

Professor of the Practice of Global Economics and Management


Athanasios Orphanides

Athanasios Orphanides is a Professor of the Practice of Global Economics and Management at the MIT Sloan School of Management. 

He is also an Honorary Advisor to the Bank of Japan’s Institute for Monetary and Economic Studies, a member of the Shadow Open Market Committee, a Research Fellow at the Centre for Economic Policy Research, a Senior Fellow at the Center for Financial Studies, and a Research Fellow at the Institute for Monetary and Financial Stability.

His research interests are on central banking, finance, and political economy and he has published extensively on these topics.  He has also contributed to the ongoing debate on the euro area crisis.

Before joining MIT Sloan, he held positions at central banks in the United States and in Europe.  From May 2007 to May 2012, he served a five-year term as Governor of the Central Bank of Cyprus and was a member of the Governing Council of the European Central Bank.  Following the creation of the European Systemic Risk Board in 2010, he was elected a member of its first Steering Committee.  Earlier, he served as Senior Adviser at the Board of Governors of the Federal Reserve System, where he had started his professional career as an economist.  

Athanasios Orphanides obtained undergraduate degrees in mathematics and economics as well as a PhD in economics from MIT.

Faculty Media

  • The Boundaries of Central Bank Independence: Lessons from Unconventional Times

    Unconventional monetary policy poses challenges. The large scale asset purchases needed to counteract the zero lower bound on nominal interest rates have uncomfortable fiscal and distributional...

  • MIT's Orphanides Finds ECB Constrained by Politics

    Orphanides talks about political constraints on the European Central Bank in their bond purchasing program.

  • 'Disappointing' that Inflation Forecasts are this Low: Athanasios Orphanides

    Should the European Central Bank (ECB) be revising its growth and inflation forecasts higher? Athanasios Orphanides, Central Bank of Cyprus' former governor and professor at MIT Sloan School of...

  • Finding the Euro Crisis’ “Original Sin”

    Without full accounting of what went wrong in Greece, “difficult to be optimistic” about European project, professor says.

  • Those Inflation Targets Keep Getting Harder to Hit

    Central banks have promised higher inflation is on its way. They’ve promised that before.

  • Fed Blowing Its Chance to Raise Rates: Economist

    A "muddled mandate" has the Fed too focused on unemployment at the expense of price stability, wrote Athanasios Orphanides, a global economics professor at the Massachusetts Institute of...

  • The Fed Is Becoming Less Relevant

    The Federal Reserve implicitly acknowledges that it is ill-equipped to fulfill its dual mandate of optimizing the levels of inflation and employment in the broad economy.

  • Jackson Hole Has a Worrying Message for Draghi & Co.

    Worse still, trying to influence inflation while not understanding it is a “recipe for disaster,” according to MIT Sloan School of Management professor Athanasios Orphanides, himself a former ECB...

  • Fed at Jackson Hole: Gearing Up to Hike Amidst Rocky Terrain

    Athanasios Orphanides, a professor at the MIT Sloan School of Management and a former senior adviser at the Fed Board in Washington, said economists should show more “humility” when it comes to...

  • China Swoon Sharpens Jackson Hole Focus on Feeble Inflation

    “The basic laws of supply and demand matter,” said Athanasios Orphanides. “You have to expect prices to move upward if you have tightness in a market. The question is, how does that translate to...


Contact Information

Office: E62-481
Phone: (617) 324-4051
Support Staff
Name: Dylan Girard
Phone: 617-715-4850