Smets to replace Reichlin as ECB research head

Frank Smets, the deputy director general of the European Central Bank's research department, is to replace current head Lucrezia Reichlin, when she leaves the institution in September.

Smets became managing editor of the International Journal of Central Banking in January 2008. He has written papers on US imbalances, optimal monetary policy, inflation and business cycles.

Reichlin became director general of research in March 2005. Her research interests include macroeconomics and applied time

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