Stephanie Schmitt-Grohé is a professor of economics in the Department of Economics at Columbia University, a research associate of the National Bureau of Economic Research, and a research affiliate of the Centre for Economic Policy Research, London. After receiving her doctorate in economics in 1994 from the University of Chicago she was a staff economist in the Division of Monetary Affairs at the Board of Governors of the Federal Reserve System in Washington. Thereafter she taught at Rutgers, The State University of New Jersey, and Duke University, before joining Columbia in 2008. Her research focuses on the theory of monetary and fiscal policy and on international macroeconomics. Her work has been honored with the Bernácer Prize, which is awarded annually to a European economist under the age of 40, who has made outstanding contributions in the fields of macroeconomics and finance. She is the co-author of the undergraduate text ``International Macroeconomics,'' (with Martin Uribe and Mike Woodford) and the graduate text ``Open Economy Macroeconomics'' (with Martin Uribe), both to be published by Princeton University Press.