W. Raphael Lam is a Senior Economist in the Fiscal Affairs Department. His research currently focuses on fiscal issues related to inequality, intergovernmental relations, and fiscal rules. He previously worked on the China and Japan team in the Asia and Pacific Department, and had participated in the IMF’s lending program to Iceland during the global financial crisis. His previous research also covered fiscal and financial sector issues. He holds a Ph.D in Economics from University of California.