Stability in an Age of Shocks: Rethinking Macro Policy for a Fragmenting World

Indonesia stands at a pivotal moment in navigating global economic fragmentation, financial volatility, and shifting geopolitical dynamics. As advanced economies recalibrate monetary policy and emerging markets confront renewed external pressures, questions around central bank independence, fiscal credibility, and macroeconomic coordination have taken on renewed urgency.

This panel convenes leading policymakers and scholars to reflect on how macroeconomic frameworks must adapt in an era of repeated global shocks. Drawing from Indonesia’s experience and broader global developments, the discussion will explore the evolving role of central banks, the balance between stability and growth, and the institutional foundations required to sustain credibility in uncertain times.

Lunch will be served.

This event is co-sponsored by the Asia Center’s Southeast Asia Initiative and the HKS Indonesia Caucus.

Speakers:

• Perry Warjiyo, Governor, Bank Indonesia (Central Bank)
• Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth at Harvard University.
• Chatib Basri, Moderator, former Minister of Finance, Indonesia

About the Speakers

Jeffrey Frankel – James W. Harpel Professor of Capital Formation and Growth at Harvard University. He is a Research Associate at the National Bureau of Economic Research. He served at the Council of Economic Advisers in 1983–84 and 1996–99; as a CEA Member in the Clinton Administration, his responsibilities included international economics, macroeconomics, and the environment. Before coming to Harvard in 1999, he was Professor of Economics at the University of California, Berkeley.

Perry Warjiyo – Governor of Bank Indonesia since 2018, Perry Warjiyo previously served as Deputy Governor and has held senior roles in monetary policy and international finance. He has played a central role in safeguarding Indonesia’s macroeconomic stability through episodes of global volatility and has advanced policy frameworks on monetary-fiscal coordination and financial system resilience.

Chatib Basri – Former Minister of Finance of Indonesia (2013–2014), Chatib Basri is a Fellow at the Center for International Development at Harvard Kennedy School. His work focuses on macroeconomic policy, international trade, and political economy. He has been widely recognized for steering Indonesia’s fiscal policy during periods of external pressure.

Event Details

This event is open to Harvard ID holders only and registration is required.

The Ash Center encourages individuals with disabilities to participate in its events. Should you wish to inquire about an accommodation, please contact our events team at info@ash.harvard.edu.

Additional questions? Email the Ash Center events team at info@ash.harvard.edu.