Prior to his academic appointments, Ostry served in senior roles for more than three decades at the International Monetary Fund (IMF) in Washington DC, including as Deputy Director of the Research Department and Acting Director of the Asia and Pacific Department.

[4][5][6][7] Ostry has also published influential studies on the relationship between income inequality and economic growth, where his work—which has featured prominently in the financial press[8][9][10]—suggests that high income inequality and a failure to sustain economic growth may be two sides of the same coin.

[2] He was named one of the 100 most powerful people in global finance by Worth magazine in 2016,[15] and as one of the economists whose research shaped the world in 2017.

[18] Ostry’s work covers various aspects of domestic and international macroeconomic policy, including exchange rate regimes, capital controls, fiscal space, and income inequality.

[46] Ostry is involved in efforts to raise awareness of inequality issues at the global level, including through his membership in the World Economic Forum's Global Agenda Councils on new growth models and inclusive growth,[47][48][49] and through his writings on the impact of neoliberal policies, which have received widespread media attention.