Anton Korinek

Professor of Economics, Department of Economics
Professor, Darden School of Business


FOB 137

Areas of Expertise

Artificial Intelligence, Macroeconomics, International Finance, Financial Stability

Education: M.A., University of Vienna; Ph.D., Columbia University

Anton Korinek is a Professor in the Department of Economics and at the Darden School of Business at the University of Virginia as well as a David M. Rubenstein Fellow at the Brookings Institution. His current research and teaching analyze the implications of Artificial Intelligence for business, for the economy, and for the future of society. He is also a Research Associate at the NBER, at the CEPR and at the Oxford Centre for the Governance of AI, and he is an editor of the Oxford Handbook of AI Governance.

Professor Korinek's research focuses on how to make markets work for society. He investigated the mechanics of financial crises and developed policy measures to prevent future crises as well as an influential framework for capital flow regulation in emerging economies. He also studied under what conditions it is advisable for countries to coordinate their policy actions. In his work on Artificial Intelligence, he analyzes how to align the development of AI with society's values. His research has been published in top journals including the American Economic Review, the Review of Economic Studies, the Journal of Econometrics, the Journal of Monetary Economics, the Journal of International Economics and the Journal of Public Economics. It has also been cited on Bloomberg, in The Economist and in The Wall Street Journal. He has won several fellowships and awards for this work, including from the Institute for New Economic Thinking., the Effective Altruism Long-term Future Fund and the Hewlett Foundation.

Anton Korinek studied economics, math and law at the University of Vienna and worked for several years at the intersection of IT and finance. After earning his Ph.D. in economics from Columbia University in 2007, he held positions at the University of Maryland and Johns Hopkins University and was a visiting scholar at Harvard University, the Bank for International Settlements, the International Monetary Fund, the World Bank, as well as a frequent visitor to numerous central banks, where he has given lectures and courses.

Working Papers

"Artificial Intelligence and the Simple Economics of Worker-Replacing Technological Progress,” with Joseph Stiglitz 

“Capital Controls: Theory and Evidence,” with Bilge Erten, commissioned by the Journal of Economic Literature 

“Currency Wars or Efficient Spillovers? A General Theory of International Policy Cooperation” 

“Going with the Flows: New Borrowing, Debt Service and the Transmission of Credit Booms,” with Mathias Drehmann and Mikael Juselius 

“Macroprudential Regulation Versus Mopping Up After the Crash,” with Olivier Jeanne, revision requested by the Review of Economic Studies 

“Managing Credit Booms and Busts: A Pigouvian Taxation Approach,” with Olivier Jeanne, revision requested by the Journal of Monetary Economics 

“Risk-Taking Dynamics and Financial Stability,” with Martin Nowak 

“The Macro-Economics of Superstars,” with Ding Xuan Ng 

“Artificially Intelligent Agents in the Economy”


Selected Publications

"Artificial Intelligence and Implications for Income Distribution and Unemployment,” with Joseph Stiglitz, forthcoming in Agrawal, Ajay K., Joshua Gans and Avi Goldfarb (eds.), The Economics of Artificial Intelligence: An Agenda, University of Chicago Press, 2018. 

“Regulating Capital Flows to Emerging Markets: An Externality View,” Journal of International Economics 111, pp. 61-80, Mar. 2018. 

“Pecuniary Externalities in Economies with Financial Frictions,” with Eduardo Dávila, Review of Economic Studies 85(1), pp. 352–395, Jan. 2018.

“Thoughts on DSGE Macroeconomics: Matching the Moment, but Missing the Point?” forthcoming in festschrift Towards a Just Society: Joseph Stiglitz and 21st Century Economics, edited by Martin Guzman. 

“Liquidity Trap and Excessive Leverage,” with Alp Simsek, American Economic Review 106(3), pp. 699-738, March 2016. 

“Capital Controls or Macroprudential Regulation?” with Damiano Sandri, Journal of International Economics99(S1), pp. S27-42, March 2016. 

“Undervaluation through Foreign Reserve Accumulation: Static Losses, Dynamic Gains,” with Luis Servén, Journal of International Money and Finance 64, pp. 104-136, June 2016. 

“The Redistributive Effects of Financial Deregulation,” with Jonathan Kreamer, Journal of Monetary Economics68, pp. S55-S67, December 2014. 

“Hot Money and Serial Financial Crises,” IMF Economic Review 59(2), pp. 306-339, June 2011. 

“Excessive Volatility in Capital Flows: A Pigouvian Taxation Approach,” with Olivier Jeanne, American Economic Review 100(2), pp. 403-407, May 2010. 

“Decoupling and Contagion,” with Agustin Roitman and Carlos Végh, American Economic Review 100(2), pp. 393-397, May 2010. 

“Dividend Taxation and Intertemporal Tax Arbitrage,” with Joseph E. Stiglitz, Journal of Public Economics 93(1-2), pp. 142-159, Feb. 2009. 

“An Econometric Method of Correcting for Unit Nonresponse Bias in Surveys,” with Johan Mistiaen and Martin Ravallion, Journal of Econometrics 136(1), pp. 213-235, Jan. 2007. 

“Survey Nonresponse and the Distribution of Income,” with Johan Mistiaen and Martin Ravallion, Journal of Economic Inequality 4(1), pp. 33-55, April 2006.

Anton Korinek's Ideas to Action Posts