Global Economics

Located in New York, London, Tokyo, Hong Kong, Mumbai and Sydney, the Global Economics team of about 30 professional economists analyzes developments in macroeconomic policies around the world and forecasts key economic variables and their effects on global markets for all major countries.

A Strong Team With a Variety of Backgrounds
All team members hold at least a master's degree in economics or closely related fields from a high-quality university. They come from a variety of backgrounds:

 •  Dr. Paul Sheard, global chief economist, a fluent Japanese speaker, worked for much of his career as an academic before joining Lehman Brothers in 2000.
 •  Dr. Ethan Harris, U.S. chief economist, started his career at the Federal Reserve Bank of New York, joining Lehman Brothers in 1996.
 •  Michael Hume, chief economist for Europe, joined the Firm in 1997 and has a wide range of analytical and policy interests.
 •  Dr. Kenichi Kawasaki, chief economist for Japan, joined Lehman Brothers in 2007, having worked as an economist for the Japanese government for two decades.
 •  Rob Subbaraman, chief economist for Asia ex-Japan, worked for the Reserve Bank of Australia before joining the Firm in 1996 and has worked in Tokyo and Hong Kong since then.
 •  Dr. Ed Morse, chief energy economist, joined Lehman Brothers in 2006, having worked in the energy arena for three decades in a variety of roles in academe, government, publishing and business.

This diversity of backgrounds, combined with strong academic credentials, enables our team to bring different areas of expertise to economic forecasting.

A Common View
We are proud that we present one common, global view with our regional and country forecasts. This is true not only of the forecasts within the Global Economics team, but it also applies across our Research departments.

The Global Economics team works with strategists in the Fixed Income, Foreign Exchange (FX) and Equity Strategy groups on their forecasting. These strategists refer to our economic forecasts and incorporate the information into their portfolio analyses and recommendations. And the Firm's analysts, in turn, use this economic and strategic input to compile their individual investment recommendations.

One common, global view  presented to client by Global Economics Team as well as our research departments

How We Get Our View Across
We offer a range of publications, available through various channels, depending on client preferences, location and requirements:

Online Comments
Quick, short, high-frequency analysis of data releases and news.

Morning Comments Series
These reports update readers on important data releases and market moves since close of business the previous day, as well as provide previews of that day's market-moving data. There are three editions each day, one for each trading zone.

Global Weekly Economic Monitor
Our weekly flagship publication. Covering all major economies and financial markets, the Global Weekly Economic Monitor is published every Friday. It is divided into two sections: The first comprises research articles focusing on a specific region, or of a global nature. The second provides country-by-country summaries of our macroeconomic forecasts, as well as detailed commentary of forthcoming releases and market-moving events, including data calendars of the week and month ahead.

Quarterly and Research Papers
These publications present our longer-term, in-depth research. Our model-based Euro area and U.K. forecasts are set out in detail in quarterly publications. Our structural economics research papers provide a thorough examination of structural reforms in the Euro area and their impact on economic performance. Other research papers cover diverse topics, such as Britain's possible entry into the Euro, the impact of China's growth on the world economy, and Federal Reserve Chairman Ben Bernanke's economic thinking.

Finally, we contribute to a number of more specialized strategy products that emphasize the market implications of our views.

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