Until October 2016, Philip Turner was Deputy Head of the Monetary and Economic Department and a member of Senior Management of the Bank for International Settlements (BIS), which he joined in 1989. Recent papers include “External shocks, the exchange rate and macroprudential policy” (BIS Papers, No 86, pp 57–62, September 2016); “On the transactions costs of quantitative easing” (with F Breedon, BIS Working Papers, No 571, July 2016); “Low long-term interest rates as a global phenomenon” (with J Sobrun, Revue d'économie financière, No 121, pp 257–273, March 2016); “A new dimension to currency mismatches in the emerging markets: non-financial companies” (with M Chui and E Kuruc, BIS Working Papers, No 550, March 2016); “Bond markets and monetary policy dilemmas for the emerging markets” (with J Sobrun, BIS Working Papers, No 508, August 2015); “The consequences of exit from non-conventional monetary policy” (The Journal of Financial Perspectives, July 2015) and “The tug-of-war with volatility: policy options for emerging markets" (Revue d'économie financière, No 119, pp 227–250).
Between 1976 and 1989, he held various positions, including head of division in the Economics Department at the OECD in Paris. In 1985–86, he was a visiting scholar at the Bank of Japan's Institute for Monetary and Economic Studies in Tokyo. He was a Teaching Fellow at Harvard University. He read Economics at Churchill College, Cambridge, and has a PhD from Harvard University (where his thesis advisors were R E Caves and H S Houthakker).