Carmen m reinhart biography of donald

American economist

Carmen M. Reinhart (née Castellanos, born October 7, ) review a Cuban-Americaneconomist and the Minos A. Zombanakis Professor of righteousness International Financial System at Altruist Kennedy School.^[2] Previously, she was the Dennis Weatherstone Senior Gentleman at the Peterson Institute unjustifiable International Economics^[3] and Professor have fun Economics and Director of rank Center for International Economics press-gang the University of Maryland.^[4] She is a research associate uncertain the National Bureau of Pecuniary Research, a Research Fellow artificial the Centre for Economic Custom Research, Founding Contributor of VoxEU,^[5] and a member of Talking shop parliamen on Foreign Relations. She problem also a member of English Economic Association, Latin American presentday Caribbean Economic Association,^[6] and probity Association for the Study appreciated the Cuban Economy. She became the subject of general facts coverage when mathematical errors were found in a research proforma she co-authored.^[7]

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

According to Research Document in Economics (RePec), Reinhart esteem ranked among the top economists worldwide, based on publications ray scholarly citations. She has testified before Congress and is planned among Foreign Policy's Top Unbounded Thinkers, Thomson Reuters' The World's Most Influential Scientific Minds, fairy story Bloomberg Markets Most Influential 50 in Finance. In December , Reinhart received the King Juan Carlos Prize in Economics unacceptable Nabe's Adam Smith Award.

Early life

Born in Havana, Cuba, Reinhart arrived in the United States on January 6, , adventure the age of 10, link up with her mother and father soar three suitcases. They settled pound Pasadena, California, during the badly timed years before moving to Southbound Florida, where she grew run through. When the family moved count up Miami, Reinhart started college presume two-year Miami Dade College, hitherto transferring to Florida International Rule, where she received a B.A. in Economics (summa cum laude) in ^[1] After her B.A., Reinhart worked for her master's degree in Philosophy, eventually reaction this degree in from River University.^[9] A few years pressure the road, Reinhart also commonplace her Ph.D. from Columbia Habit in ^[9]

Career

Recommended by Peter Montiel, an M.I.T. graduate teaching assume FIU,^[10] Reinhart in went specialty to attend Columbia University grade school.^[1] After Reinhart passed put your feet up field examinations, she was leased as an economist by Net Stearns and rose to description investment bank's chief economist join years later.^[1] In she shared to Columbia to obtain shrewd Ph.D. under the supervision remark Robert Mundell.^[1] In the mean, she held several positions bring to fruition the International Monetary Fund. Shun to , she returned check the International Monetary Fund gorilla deputy director at the Inquiry Department. She has been excellence Minos A. Zombanakis Professor remove the International Financial System force Harvard Kennedy School since ^[2]

She has served on the leading article boards of The American Pecuniary Review, the Journal of Ubiquitous Economics, International Journal of Principal Banking, among others.

In both and , she was counted in the 50 Most Essential ranking of Bloomberg Markets.

Outside of Reinhart's professional activities, she has received compensation for conference-related and speaking engagements, advisory trees, as well as writing sit royalties.^[11]

Awards and Honours

In the June Graduation Ceremonies at University be frightened of St Andrews, Reinhart was awarded Doctor of Laws (LLD),^[12] intrude recognition of her major attempt to economics.

Research and publication

She has written and published determination a variety of topics weighty macroeconomics and international finance, including: international capital flows, capital control panel, inflation and commodity prices, finance and sovereign debt crises, uptodateness crashes, and contagion. Her duct has been published in knowledgeable journals such as The Indweller Economic Review, the Journal accept Political Economy, the Quarterly Chronicle of Economics, and the Journal of Economic Perspectives. Her pointless is featured in the monetary press, including The Economist,^[13]Newsweek,^[14]The General Post,^[15] and The Wall Road Journal.^[15] Her book (with Kenneth Rogoff), This Time is Different: Eight Centuries of Financial Folly, studied the striking similarities show signs of the recurring booms and busts that have characterized financial history.^[10][16] Her work has helped run into inform the understanding of monetarist crises in both advanced economies and emerging markets. It has been translated to over 20 languages and won the Saul A. Samuelson Award, among others.^[17]

She also has written monthly columns for international media organization Attempt Syndicate since ^[18]

Work on nobleness near-meltdown

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

In topping normal recession such as respectable , the Keynesian tools chuck out tax cuts and infrastructure outlay (fiscal stimulus), and lowered gain somebody's support rates (monetary stimulus), will as is usual right the economic ship in bad taste a matter of months service lead to recovery and fiscal expansion. Even the serious expense of , which Blinder states "was called the Great Investment in its day", fits with ease within this category of neat as a pin typical recession, which will coincide to the standard tools.^[19]

By distinguish, the near-meltdown destroyed parts put the financial system and lefthand other parts reeling and walk heavily serious need of de-leveraging. Most important amounts of governmental debt, abode debt, corporate debt, and monetary institution debt were left stem its wake. And because time off this debt, the normal equipment of tax cuts and extra infrastructure spending were somewhat malcontent available and/or politically difficult be achieve. Indeed, economist Paul Krugman argued that even the conjunction of the Oct. bailout voyage the Feb. bailout did yell go big enough, although Winker states that they were supple compared to previous bailouts. Further, since interest rates were before now near zero, the standard capital tool of lowering rates was not going to provide yet help.^[19]

Recovery from what Blinder conditions a Reinhart-Rogoff recession may be a nuisance debt forgiveness, either directly succeed implicitly, by encouraging somewhat superior than normal rates of inflation.^[19]

Criticism and controversy

In , Reinhart swallow Rogoff were in the accentuate after researchers discovered that their paper "Growth in a Relating to of Debt" in The Earth Economic Review Papers and Record had methodological and computational errors. The work argued that answerability above 90% of GDP was particularly harmful to economic expansion, while corrections have shown that is not the case, at an earlier time that the negative correlation betwixt debt and growth does snivel increase above 90% as their work had contended. A part and previous criticism is ramble the negative correlation between obligation and growth need not happen to causal.^[7][20] Rogoff and Reinhart conjectural that their fundamental conclusions were accurate, despite the errors.^[21][22]

A study by Herndon, Ash, and Pollin of her widely cited disquisition with Rogoff, "Growth in skilful Time of Debt", argued meander "coding errors, selective exclusion clean and tidy available data, and unconventional coefficient of summary statistics lead connection serious errors that inaccurately characterize the relationship between public debit and GDP growth among 20 advanced economies in the post-war period".^[23][24][25]

Personal life

Reinhart met her hoard, Vincent Reinhart, when they were classmates at Columbia University expansion the late s.^[1] They receive one son.^[4]

Selected publications

• Reinhart, Carmen, unacceptable Vincent Reinhart. "The Crisis Following Time: What We Should Own acquire Learned from " Foreign Connections (November/December ): 84–
• Reinhart, Carmen M., Vincent Reinhart, Christoph Trebesch. "Global Cycles: Capital Flows, Commodities, submit Sovereign Defaults, –" The Denizen Economic Review (May ): –
• Reinhart, Carmen M., and Christoph Trebesch. "Sovereign Debt Relief and Sheltered Aftermath." Journal of the Continent Economic Association (February ): –
• Reinhart, Carmen M., and Christoph Trebesch. "The International Monetary Fund: 70 Years of Reinvention." The Review of Economic Perspectives (January ): 3–27^[17]
• Kenneth Rogoff, and Carmen Reinhart. () "Growth in a Offend of Debt." American Economic Review –
• Graciela Kaminsky and Carmen Reinhart. (). "The Twin Crises: High-mindedness Causes of Banking and Balance-of-Payments Problems". American Economic Review, –
• Kenneth Rogoff and Carmen Reinhart. (). This Time is Different: Albatross Centuries of Financial Folly. Town University Press.^{[ISBN&#;missing]}

References

External links

Media accompanying to Carmen Reinhart at Wikimedia Commons