Steven Pennings is a Research Economist in the Macroeconomics and Growth Team of the World Bank Development Research Group. His research interests include fiscal policy (especially fiscal transfers), economic growth, political economy, exchange rate pass-through, and monetary policy. He also a co-leads the World Bank’s Long Term Growth Model Project. He has published in a number of academic journals, including the American Economic Review, the Journal of International Economics and the European Economic Review. Prior to joining the World Bank, he worked at the Reserve Bank of Australia and Save the Children (Vietnam). He holds a PhD in Economics from New York University and a Bachelor of Economics (Hons.) from the Australian National University.