Paul Allen McCulley (born March 13, 1957)[1] is an American economist and former managing director at PIMCO.
He coined the terms "Minsky moment" and "shadow banking system", which became famous during the 2007–2008 financial crisis.
He was also a generalist portfolio manager and member of the investment committee in the Pimco Newport Beach office.
Prior to joining PIMCO in 1999, he was chief economist for the Americas at UBS Warburg.
[citation needed] He retired from PIMCO in December 2010 and joined the Global Interdependence Center thinktank.