Carmen Reinhart

Carmen M. Reinhart is the Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School. Previously, she was the Dennis Weatherstone Senior Fellow at the Peterson Institute for International Economics and Professor of Economics and Director of the Center for International Economics at the University of Maryland. Professor Reinhart held positions as Chief Economist and Vice President at the investment bank Bear Stearns in the 1980s. She spent several years at the International Monetary Fund. Reinhart is a Research Associate at the National Bureau of Economic Research, and a member of the Congressional Budget Office Panel of Economic Advisers and Council on Foreign Relations. She has served on numerous editorial boards, has testified before congress, and was listed among Bloomberg Markets Most Influential 50 in Finance, 2011. She received her Ph.D. from Columbia University.

Reinhart has written on a variety of topics in macroeconomics and international finance and trade and her papers have been published in leading scholarly journals. Her work has helped to inform the understanding of financial crises for over a decade. Her best-selling book (with Kenneth S. Rogoff) entitled This Time is Different: Eight Centuries of Financial Folly (Princeton Press) documents the striking similarities of the recurring booms and busts that have characterized financial history and has been translated to 20 languages and won the 2010 Paul A. Samuelson TIAA-CREF Institute Award, among others.

Selected Publications

Academic Journal/Scholarly Articles

• Reinhart, Carmen M., Vincent Reinhart, and Takeshi Tashiro. "Does Reserve Accumulation Crowd out Investment?" Journal of International Money and Finance 63 (May 2016): 89-111.
• Reinhart, Carmen M., Vincent Reinhart, Christoph Trebesch. "Global Cycles: Capital Flows, Commodities, and Sovereign Defaults, 1815–2015." The American Economic Review 106.5 (May 2016): 574-580.
• Reinhart, Carmen M., Miguel Angel Santos. "From Financial Repression to External Distress: The Case of Venezuela." Emerging Markets Finance and Trade 52.2 (February 2016): 255-284.
• Kalemli-Özcan, Sebnem, Carmen Reinhart, Kenneth Rogoff. "Sovereign Debt and Financial Crises: Theory and Historical Evidence." Journal of the European Economic Association 14.1 (February 2016): 1-6.
• Reinhart, Carmen M., and Christoph Trebesch. "The International Monetary Fund: 70 Years of Reinvention." The Journal of Economic Perspectives 30.1 (January 2016): 3-27.

Commentary

Reinhart, Carmen. "The Perils of Debt Complacency." Project Syndicate, 28 , September 2016.

Outside Professional Activities

Transparent Engagement

Harvard Kennedy School is proud of its energetic involvement in the world. To better understand how to solve public problems by improving policy and leadership, we engage directly with policymakers, public leaders, governments, nonprofit organizations, and for-profit businesses whose activities affect those problems. However, we recognize that such engagement can raise questions about perceived and potential conflicts of interest, so we disclose publicly the key professional activities of our faculty outside the Kennedy School.

Outside Professional Activities For Carmen Reinhart

In addition to my position as a faculty member at Harvard, I am occasionally compensated for my participation in outside activities, such a speaking engagements, conference participation, reviewing, writing/editing articles or reports, royalties, consulting, and serving on panels/advisory boards.

I have received compensation or other payments in excess of $500 from the following organizations:

2014

Conference-related and speaking engagements

• Banco Central de Chile, Santiago
• BCA Research Canada
• Coronation Asset Management, South Africa
• Federal Reserve Bank of San Francisco
• First Metro Investment Corp., Manila
• Indonesia Deposit Insurance Corp., Djakarta
• International Monetary Fund
• Nomura Securities
• PIMCO
• Reed Business, Amsterdam
• SAIS, Johns Hopkins University
• State Street Global Advisors
• World Bank

Advisory Boards

• Congressional Budget Office Advisory Board (nonremunerated)
• Federal Reserve Bank of New York (nonremunerated)
• Smith Richardson Foundation

Writing and royalties

• Bloomberg
• Financial Times
• Nikkei
• Princeton University Press