Jon Hoddenbagh is Assistant Professor of International Economics at the Johns Hopkins School of Advanced International Studies (SAIS). His research lies at the intersection of macroeconomics and international macroeconomics and finance, with particular emphasis on monetary and fiscal policy, fiscal dominance and central bank independence, exchange rates, and U.S. dollar dominance in a fragmenting global economy. His work has been published in leading peer-reviewed journals and has been recognized with the Bank of Canada Paper Prize for research. He maintains active engagement with central banks and international financial institutions, including as a Visiting Scholar at the IMF, and regularly participates in policy-oriented research forums.
In recognition of his outstanding teaching, Jon has received multiple student-voted awards, including the SAIS Excellence in Teaching Award (2020 and 2024), the MIEF Teacher of the Year Award (2024), and the SAIS International Economics Teaching Award (2019). He is deeply involved in advising graduate student research and is committed to integrating current policy debates and modern analytical tools like AI into his research and teaching.
Jon serves as Lead Project Investigator and organizer for the Hopkins–Georgetown Geoeconomics Conference, funded by a $100,000 JHU Nexus Grant, which brings together leading scholars and policymakers to examine the economic, financial, political and historical dimensions of geopolitical fragmentation.
- The Financial Accelerator and the Optimal State-Dependent Contract, Review of Economic Dynamics, Volume 24, March 2017, Pages 43-65, with M. Dmitriev (Bank of Canada Paper Prize, Canadian Economic Association)
- Optimal Fiscal Transfers in a Monetary Union, Journal of International Economics, Volume 117, March 2019, Pages 91-108, with M. Dmitriev
- Optimal Monetary Policy in Small Open Economies: Producer-Currency Pricing, International Journal of Central Banking, Volume 17, Number 2, June 2021, Pages 297-338, with M. Dmitriev
Multiple working papers (see personal website for latest versions): https://sites.google.com/site/jonathanhoddenbagh/
Inter-temporal macroeconomics models involving capital flows and determination of asset prices and equilibrium exchange rates. Examination of models of exchange rate regimes, debt sustainability, and other global macro topics. Focus on intertemporal issues and general equilibrium models is not covered in MA version of course. This course is open to enrollment by MIEF students only.
Covers the basic theory underlying international macroeconomics. Topics include international financial markets and the macroeconomics of open economies; balance of payments and the trade balance; exchange rates and the foreign exchange market; expectations, interest rates and capital flows; monetary and fiscal policy in open economies; exchange rate regimes; and macroeconomic policy in open economies. Basic algebra will be used in this class. This course is a prerequisite to most upper-level economics courses.