David Gruen is Executive Director, Macroeconomic Group, Australian Treasury. He joined the Treasury in Jan 2003. Before that, he was Head of Economic Research Department at the Reserve Bank of Australia, May 1998 to Dec 2002. He worked at the Reserve Bank for thirteen years, in the Economic Analysis and Economic Research Departments. With financial support from a Fulbright Postdoctoral Fellowship, he was visiting lecturer in the Economics Department and the Woodrow Wilson School at Princeton University from August 1991 to June 1993.  Before joining the Reserve Bank, he worked as a research scientist in the Research School of Physical Sciences at the Australian National University. He holds PhD degrees in physiology from Cambridge University, England and in economics from the Australian National University.