Alexandra Altman


Alexandra Altman is an analyst in the Country Analysis Unit within the Supervision + Credit (S+C) Group at the Federal Reserve Bank of San Francisco. In that capacity, she researches Asian financial and economic issues and produces analyses of Asian foreign banking organizations. In addition, she monitors financial, regulatory, and economic development in Asia. Her research interests include monetary policy, foreign exchange, and global capital flows.

Previously, Ms. Altman worked as an international economist at the U.S. Department of the Treasury on policy issues related to foreign exchange, macroeconomics, and global growth. Before joining the Treasury, she was an associate in the Markets Group at the Federal Reserve Bank of New York. While with the New York Fed, she worked on issues ranging from U.S. reference rate reform to Japan financial markets and served for several years as manager for the Federal Reserve and Treasury Department’s yen reserves portfolio.

Ms. Altman received a master’s degree in international economics from the Johns Hopkins University School of Advanced International Studies (SAIS) and bachelor’s degrees in applied mathematics and business administration from the University of California, Berkeley.

Pacific Exchange Blog Entries

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Gender View: Female Entrepreneurship in Asia

Posted May 15, 2019

An estimated 163 million female entrepreneurs across the globe are running their own business. While economies in Asia have relatively high levels of gender parity compared to other regions, women’s entrepreneurial participation still lags behind men. The local business ecosystem, cultural perceptions, and women’s advancement opportunities all play a role in encouraging women’s entrepreneurial pursuits.

Why Do Japanese Households Hold So Much Cash?

Posted March 18, 2019

Japanese households are well known for their preference for cash, which represents the majority of their financial assets. While Japan’s economic and financial history explain part of this behavior, broader structural and cultural factors are also at play.

Views into Asia’s Foreign Indebtedness (Part Two)

Posted December 18, 2018

External imbalances are one factor that can compound a country’s ability to manage its foreign debts. Across Asia, current account surpluses and large stocks of foreign exchange reserves strengthen many countries’ ability to manage their external liabilities. Though several Asian economies face current account deficits or low reserve coverage, they continue to appear more resilient compared to the situations in Argentina and Turkey.

Views into Asia’s Foreign Indebtedness (Part One)

Posted December 10, 2018

Recent developments in Argentina and Turkey have sparked concerns that other emerging market economies could be sitting on simmering vulnerabilities. A direct comparison of the region’s foreign debt finds that overall risk and apparent vulnerabilities are more contained in Asia relative to Argentina and Turkey. However, there are certain exposures in a handful of Asian economies that warrant close monitoring going forward.

Pacific Exchanges Podcasts

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Posted May 31, 2019

In this episode of Rethinking Asia, Brad Setser, a senior fellow for International Economics at the Council on Foreign Relations, discussed the evolution and recent trends in capital flows across Asia. In the wake of the Global Financial Crisis, flows were driven by current account surplus countries. Recent divergence in global interest rates, economic developments, and a search for yield have spawned a complex web of flows across the Pacific.