Carmen Reinhart
Encyclopedia
Carmen M. Reinhart is the Dennis Weatherstone Senior Fellow at the Peterson Institute for International Economics. Previously, she was Professor of Economics
and Director of the Center for International Economics at the University of Maryland
. She is a Research Associate at the National Bureau of Economic Research
, a Research Fellow at the Centre for Economic Policy Research
, Founding Contributor of VoxEU, and a member of Council on Foreign Relations
. She is also member of American Economic Association
, Latin American and Caribbean Economic Association, and Association for the Study of the Cuban Economy.
, Cuba
, Reinhart arrived in the United States
on January 6, 1966 with her mother and father and three suitcases. They settled in Pasadena, California
during the early years before moving to South Florida, where she grew up. When the family moved to Miami, Reinhart started college at two-year Miami Dade College
, before transferring to Florida International University
, where she received a B.A.
in Economics
(summa cum laude) in 1975. Recommended by Peter Montiel, an M.I.T. graduate teaching at FIU, Reinhart in 1978 went on to attend Columbia University
graduate school. After Reinhart had passed her field examinations, she was hired as an economist by Bear Stearns
, becoming the investment bank's chief economist three years later. In 1988 she returned to Columbia to obtain her Ph.D.
under supervision of Robert Mundell
. In the 1990s, she held several positions in the International Monetary Fund
. From 2001 to 2003 she returned to the International Monetary Fund as Deputy Director at the Research Department.
She has served on the editorial boards of the American Economic Review
, the Journal of International Economics
, International Journal of Central Banking
, among others.
and international finance
including: international capital flows, capital controls, inflation and commodity prices, banking and sovereign debt crises, currency crashes, and contagion. Her work has been published in scholarly journals such as the American Economic Review, the Journal of Political Economy
, the Quarterly Journal of Economics
, and the Journal of Economic Perspectives
. Her work is featured in the financial press, including The Economist
, Newsweek
The Washington Post
, and The Wall Street Journal
. Her book (with Kenneth Rogoff
), This Time Is Different: Eight Centuries of Financial Folly, studied the striking similarities of the recurring booms and busts that have characterized financial history.
, when they were classmates at Columbia in the late 1970s. They have one son.
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
and Director of the Center for International Economics at the University of Maryland
University of Maryland
When the term "University of Maryland" is used without any qualification, it generally refers to the University of Maryland, College Park.University of Maryland may refer to the following:...
. She is a Research Associate at the National Bureau of Economic Research
National Bureau of Economic Research
The National Bureau of Economic Research is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community." The NBER is well known for providing start and end...
, a Research Fellow at the Centre for Economic Policy Research
Centre for Economic Policy Research
The Centre for Economic Policy Research , a registered charity founded in 1983 by Richard Portes , FBA, CBE, is a network of over 700 researchers based mainly in universities throughout Europe, who collaborate through the centre in research and its dissemination...
, Founding Contributor of VoxEU, and a member of Council on Foreign Relations
Council on Foreign Relations
The Council on Foreign Relations is an American nonprofit nonpartisan membership organization, publisher, and think tank specializing in U.S. foreign policy and international affairs...
. She is also member of American Economic Association
American Economic Association
The American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
, Latin American and Caribbean Economic Association, and Association for the Study of the Cuban Economy.
Early life and career
Born in HavanaHavana
Havana is the capital city, province, major port, and leading commercial centre of Cuba. The city proper has a population of 2.1 million inhabitants, and it spans a total of — making it the largest city in the Caribbean region, and the most populous...
, Cuba
Cuba
The Republic of Cuba is an island nation in the Caribbean. The nation of Cuba consists of the main island of Cuba, the Isla de la Juventud, and several archipelagos. Havana is the largest city in Cuba and the country's capital. Santiago de Cuba is the second largest city...
, Reinhart arrived in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
on January 6, 1966 with her mother and father and three suitcases. They settled in Pasadena, California
Pasadena, California
Pasadena is a city in Los Angeles County, California, United States. Although famous for hosting the annual Rose Bowl football game and Tournament of Roses Parade, Pasadena is the home to many scientific and cultural institutions, including the California Institute of Technology , the Jet...
during the early years before moving to South Florida, where she grew up. When the family moved to Miami, Reinhart started college at two-year Miami Dade College
Miami Dade College
Miami Dade College, or simply Miami Dade or MDC, is a state college with eight campuses and twenty-one outreach centers located throughout Miami-Dade County, Florida in the United States. It is part of the Florida College System. Miami Dade College is the largest school in the Florida College...
, before transferring to Florida International University
Florida International University
Florida International University is an American public research university in metropolitan Miami, Florida, in the United States, with its main campus in University Park...
, where she received a B.A.
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
in Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
(summa cum laude) in 1975. Recommended by Peter Montiel, an M.I.T. graduate teaching at FIU, Reinhart in 1978 went on to attend Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
graduate school. After Reinhart had passed her field examinations, she was hired as an economist by Bear Stearns
Bear Stearns
The Bear Stearns Companies, Inc. based in New York City, was a global investment bank and securities trading and brokerage, until its sale to JPMorgan Chase in 2008 during the global financial crisis and recession...
, becoming the investment bank's chief economist three years later. In 1988 she returned to Columbia to obtain her Ph.D.
Doctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
under supervision of Robert Mundell
Robert Mundell
Robert Mundell, CC is a Nobel Prize-winning Canadian economist. Currently, Mundell is a professor of economics at Columbia University and the Chinese University of Hong Kong....
. In the 1990s, she held several positions in the International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
. From 2001 to 2003 she returned to the International Monetary Fund as Deputy Director at the Research Department.
She has served on the editorial boards of the American Economic Review
American Economic Review
The American Economic Review is a peer-reviewed academic journal of economics publishing seven issues annually by the American Economic Association. First published in 1911, it is considered one of the most prestigious journals in the field. The current editor-in-chief is Penny Goldberg . The...
, the Journal of International Economics
Journal of International Economics
The Journal of International Economics is a peer-reviewed academic journal in the field of economics. The journal publishes articles on both theoretical and empirical aspects of international economics...
, International Journal of Central Banking
International Journal of Central Banking
The International Journal of Central Banking is an economic research journal which began in the 2004 decision of several Central Banks to create a professional journal for policymakers and researchers in the field of monetary policy...
, among others.
Research and publication
She has written and published on a variety of topics in macroeconomicsMacroeconomics
Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of the whole economy. This includes a national, regional, or global economy...
and international finance
International finance
International finance is the branch of economics that studies the dynamics of exchange rates, foreign investment, global financial system, and how these affect international trade. It also studies international projects, international investments and capital flows, and trade deficits. It includes...
including: international capital flows, capital controls, inflation and commodity prices, banking and sovereign debt crises, currency crashes, and contagion. Her work has been published in scholarly journals such as the American Economic Review, the Journal of Political Economy
Journal of Political Economy
The Journal of Political Economy is an academic journal run by economists at the University of Chicago and published every two months by the University of Chicago Press. The journal publishes articles in both theoretical economics and empirical economics...
, the Quarterly Journal of Economics
Quarterly Journal of Economics
The Quarterly Journal of Economics, or QJE, is a peer-reviewed academic journal published by the Oxford University Press and edited at Harvard University's Department of Economics. Its current editors are Robert J. Barro, Elhanan Helpman and Lawrence F. Katz...
, and the Journal of Economic Perspectives
Journal of Economic Perspectives
The Journal of Economic Perspectives is an economic journal published by the American Economic Association. The journal is very broad in its scope...
. Her work is featured in the financial press, including The Economist
The Economist
The Economist is an English-language weekly news and international affairs publication owned by The Economist Newspaper Ltd. and edited in offices in the City of Westminster, London, England. Continuous publication began under founder James Wilson in September 1843...
, Newsweek
Newsweek
Newsweek is an American weekly news magazine published in New York City. It is distributed throughout the United States and internationally. It is the second-largest news weekly magazine in the U.S., having trailed Time in circulation and advertising revenue for most of its existence...
The Washington Post
The Washington Post
The Washington Post is Washington, D.C.'s largest newspaper and its oldest still-existing paper, founded in 1877. Located in the capital of the United States, The Post has a particular emphasis on national politics. D.C., Maryland, and Virginia editions are printed for daily circulation...
, and The Wall Street Journal
The Wall Street Journal
The Wall Street Journal is an American English-language international daily newspaper. It is published in New York City by Dow Jones & Company, a division of News Corporation, along with the Asian and European editions of the Journal....
. Her book (with Kenneth Rogoff
Kenneth Rogoff
Kenneth Saul "Ken" Rogoff is currently the Thomas D. Cabot Professor of Public Policy and Professor of Economics at Harvard University. He is also a chess Grandmaster.-Early life:...
), This Time Is Different: Eight Centuries of Financial Folly, studied the striking similarities of the recurring booms and busts that have characterized financial history.
Personal
Reinhart met her future husband, Vincent ReinhartVincent Reinhart
Vincent Raymond Reinhart is currently Resident Scholar at American Enterprise Institute in Washington DC.-Early career:Reinhart received a B.S. from Fordham University, a M.Phil. and M.A. from Columbia University...
, when they were classmates at Columbia in the late 1970s. They have one son.