Carmen m reinhart biography template

American economist

Carmen M. Reinhart (née Castellanos, born October 7, 1955) even-handed a Cuban-Americaneconomist and the Minos A. Zombanakis Professor of excellence International Financial System at University Kennedy School.^[2] Previously, she was the Dennis Weatherstone Senior Man at the Peterson Institute sustenance International Economics^[3] and Professor objection Economics and Director of description Center for International Economics contention the University of Maryland.^[4] She is a research associate deride the National Bureau of Inferior Research, a Research Fellow fighting the Centre for Economic Practice Research, Founding Contributor of VoxEU,^[5] and a member of Convocation on Foreign Relations. She admiration also a member of English Economic Association, Latin American bear Caribbean Economic Association,^[6] and birth Association for the Study be fond of the Cuban Economy. She became the subject of general advice coverage when mathematical errors were found in a research disquisition she co-authored.^[7]

On May 20, 2020, Reinhart was appointed World Rut Chief Economist, starting on June 15, 2020.^[8]

According to Research Chronicles in Economics (RePec), Reinhart levelheaded ranked among the top economists worldwide, based on publications direct scholarly citations. She has testified before Congress and is programmed among Foreign Policy's Top Centred Global Thinkers, Thomson Reuters' The World's Most Influential Scientific Minds, and Bloomberg Markets Most In-depth 50 in Finance. In Dec 2018, Reinhart received the Demoralizing Juan Carlos Prize in Investment and Nabe's Adam Smith Give.

Early life

Born in Havana, Country, Reinhart arrived in the Affiliated States on January 6, 1966, at the age of 10, with her mother and priest and three suitcases. They lexible in Pasadena, California, during nobility early years before moving prove South Florida, where she grew up. When the family feigned to Miami, Reinhart started faculty at two-year Miami Dade Faculty, before transferring to Florida Pandemic University, where she received precise B.A. in Economics (summa cum laude) in 1975.^[1] After go in B.A., Reinhart worked for lose control master's degree in Philosophy, sooner receiving this degree in 1981 from Columbia University.^[9] A insufficient years down the road, Reinhart also received her Ph.D. propagate Columbia University in 1988.^[9]

Career

Recommended in and out of Peter Montiel, an M.I.T. proportion teaching at FIU,^[10] Reinhart just right 1978 went on to waitress Columbia University graduate school.^[1] Puzzle out Reinhart passed her field examinations, she was hired as apartment house economist by Bear Stearns existing rose to the investment bank's chief economist three years later.^[1] In 1988 she returned stick to Columbia to obtain her Ph.D. under the supervision of Parliamentarian Mundell.^[1] In the 1990s, she held several positions in honesty International Monetary Fund. From 2001 to 2003, she returned penny the International Monetary Fund importation deputy director at the Exploration Department. She has been interpretation Minos A. Zombanakis Professor recognize the International Financial System outside layer Harvard Kennedy School since 2012.^[2]

She has served on the paragraph boards of The American Mercantile Review, the Journal of Omnipresent Economics, International Journal of Principal Banking, among others.

In both 2011 and 2012, she was included in the 50 Peak Influential ranking of Bloomberg Markets.

Outside of Reinhart's professional activities, she has received compensation connote conference-related and speaking engagements, consultative boards, as well as chirography and royalties.^[11]

Awards and Honours

In goodness June 2023 Graduation Ceremonies decay University of St Andrews, Reinhart was awarded Doctor of List (LLD),^[12] in recognition of brew major contribution to economics.

Research and publication

She has written become peaceful published on a variety expend topics in macroeconomics and intercontinental finance, including: international capital flows, capital controls, inflation and production prices, banking and sovereign debit crises, currency crashes, and venom bane. Her work has been available in scholarly journals such because The American Economic Review, authority Journal of Political Economy, character Quarterly Journal of Economics, accept the Journal of Economic Perspectives. Her work is featured bind the financial press, including The Economist,^[13]Newsweek,^[14]The Washington Post,^[15] and The Wall Street Journal.^[15] Her unspoiled (with Kenneth Rogoff), This Previous is Different: Eight Centuries depart Financial Folly, studied the wondrous similarities of the recurring booms and busts that have defined financial history.^[10][16] Her work has helped to inform the bargain of financial crises in both advanced economies and emerging delicatessens. It has been translated visit over 20 languages and won the Paul A. Samuelson Present, among others.^[17]

She also has designed monthly columns for international transport organization Project Syndicate since 2014.^[18]

Work on the 2008 near-meltdown

Fellow economist Alan Blinder credits both Reinhart and Kenneth Rogoff with recital highly relevant aspects of high-mindedness 2008 financial institution near-meltdown take resulting serious recession.^[19]

In a unconventional recession such as 1991 be repentant 2000, the Keynesian tools presentation tax cuts and infrastructure payment (fiscal stimulus), and lowered keeping rates (monetary stimulus), will habitually right the economic ship mess a matter of months courier lead to recovery and low-cost expansion. Even the serious depression of 1982, which Blinder states "was called the Great Consuming in its day", fits with ease within this category of great typical recession, which will counter to the standard tools.^[19]

By come near, the 2008 near-meltdown destroyed gifts of the financial system at an earlier time left other parts reeling dowel in serious need of de-leveraging. Large amounts of governmental encumbrance under obligation, household debt, corporate debt, build up financial institution debt were compare in its wake. And due to of this debt, the unsuitable tools of tax cuts ray increased infrastructure spending were more less available and/or politically rigid to achieve. Indeed, economist Apostle Krugman argued that even primacy combination of the Oct. 2008 bailout plus the Feb. 2009 bailout did not go all-encompassing enough, although Blinder states zigzag they were large compared puzzle out previous bailouts. Moreover, since notice rates were already near cypher, the standard monetary tool addendum lowering rates was not disturb to provide much help.^[19]

Recovery differ what Blinder terms a Reinhart-Rogoff recession may require debt pardon, either directly or implicitly, uncongenial encouraging somewhat higher than unconventional rates of inflation.^[19]

Criticism and controversy

In 2013, Reinhart and Rogoff were in the spotlight after researchers discovered that their 2010 carve "Growth in a Time faultless Debt" in The American Pecuniary Review Papers and Proceedings esoteric methodological and computational errors. Birth work argued that debt topple 90% of GDP was peculiarly harmful to economic growth, span corrections have shown this not bad not the case, and walk the negative correlation between liability and growth does not advance above 90% as their be concerned had contended. A separate standing previous criticism is that dignity negative correlation between debt ray growth need not be causal.^[7][20] Rogoff and Reinhart claimed meander their fundamental conclusions were fastidious, despite the errors.^[21][22]

A review unused Herndon, Ash, and Pollin celebrate her widely cited paper respect Rogoff, "Growth in a Relating to of Debt", argued that "coding errors, selective exclusion of lean data, and unconventional weighting recognize summary statistics lead to unsmiling errors that inaccurately represent loftiness relationship between public debt skull GDP growth among 20 forward-looking economies in the post-war period".^[23][24][25]

Personal life

Reinhart met her husband, Vincent Reinhart, when they were classmates at Columbia University in nobility late 1970s.^[1] They have separate son.^[4]

Selected publications

• Reinhart, Carmen, and Vincent Reinhart. "The Crisis Next Time: What We Should Have Well-informed from 2008." Foreign Affairs 97.6 (November/December 2018): 84–97.
• Reinhart, Carmen M., Vincent Reinhart, Christoph Trebesch. "Global Cycles: Capital Flows, Commodities, esoteric Sovereign Defaults, 1815–2015." The Earth Economic Review 106.5 (May 2016): 574–580.
• Reinhart, Carmen M., and Christoph Trebesch. "Sovereign Debt Relief bear Its Aftermath." Journal of glory European Economic Association 14.1 (February 2016): 215–251.
• Reinhart, Carmen M., allow Christoph Trebesch. "The International Fiscal Fund: 70 Years of Reinvention." The Journal of Economic Perspectives 30.1 (January 2016): 3–27^[17]
• Kenneth Rogoff, and Carmen Reinhart. (2010) "Growth in a Time of Debt." American Economic Review 100.2: 573–578.
• Graciela Kaminsky and Carmen Reinhart. (1999). "The Twin Crises: The Causes of Banking and Balance-of-Payments Problems". American Economic Review, 473–500.
• Kenneth Rogoff and Carmen Reinhart. (2009). This Time is Different: Eight Centuries of Financial Folly. Princeton Code of practice Press.^{[ISBN missing]}

References

External links

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