Claude Lopez is director of research at the Milken Institute, where she heads the international finance and macroeconomics team. Her research portfolio is focused on global policy‐oriented issues related to the financial system resilience (systemic risk, capital flows, exchange rates, commodities...). She is an active member of the T20 task force on international financial architecture for stability and development, an advisory committee to the G20 on these issues. She has over 20 years of international experience in academic and policy research. Before joining the Institute, Lopez held management roles while being senior research economist at the Banque de France, the nation's central bank, and was professor of economics at the University of Cincinnati. She has an M.S. in econometrics from Toulouse School of Economics and a Ph.D. in economics from the University of Houston.