He then became Assistant Professor of Economics and International Affairs at Columbia University during 1995–1997, before returning to Trinity College, Dublin in 1997.
He is best known for his work on the voracity effect, by which a positive shock perversely reduces economic growth through more-than-proportionate fiscal redistribution,[6] and for his measurements of the stocks of foreign assets.
[7][8] He has also chaired the Advisory Scientific Committee of the European Systemic Risk Board and was Director of the International Macroeconomics and Finance Programme at CEPR.
Lane appeared regularly in the media prior to his appointment as Governor of the Central Bank of Ireland.
Lane has taken actions to address some of the main criticisms (e.g. explicit mortgage controls and the new modified gross national income metric), there is evidence other issues remain (e.g. commercial property bubbles, and light-touch regulation),[10][11][12][13][14] and that new controls, such as mortgage limits, are being circumvented by Irish banks,[15][16] and the Irish State itself.