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Ireland appoints new central bank governor

Xinhua, October 20, 2015 Adjust font size:

The Irish government said on Tuesday it has appointed Philip Lane as the new governor of the country's central bank.

Lane, 46, an economics professor at the prestigious Trinity College Dublin (TCD), will replace Professor Patrick Honohan, who announced in May that he would retire by the end of the year.

Honohan's retirement comes before his seven-year term as governor is due to end in September 2016.

Lane is an Irish economist. He currently is professor of international macroeconomics and director of the Institute for International Integration Studies at TCD. He received a doctorate degree in economics at Harvard University in 1995.

His research interests include international economics, economic growth, European Monetary Union and Irish economic performance. He is best known for his work on the voracity effect by which a positive shock perversely reduces economic growth through more-than-proportionate fiscal redistribution and for his measurements of the stocks of foreign assets and liabilities. Enditem