WASHINGTON, Oct. 14 /PRNewswire-USNewswire/ -- The Peterson Institute for International Economics announced today that Dr. Carmen M. Reinhart, coauthor (with Kenneth S. Rogoff) of This Time Is Different: Eight Centuries of Financial Folly, has been appointed Dennis Weatherstone Senior Fellow. The Weatherstone chair has been held since 1995 by Dr. Morris Goldstein, who is retiring from full-time service for family reasons.
"We are delighted and thrilled to be joined by such a distinguished, world-class economist," said Dr. Bergsten. "She will further enhance the quality and reputation of our superb team at the Institute and we all look forward to working closely with her."
Reinhart has been professor of economics and director of the Center for International Economics at the University of Maryland since 1996. She served for eight years at the International Monetary Fund, most recently (2001–02) as deputy director and senior policy adviser in the Research Department. She was chief economist and vice president at the investment bank Bear Sterns in the 1980s. Reinhart received her PhD in economics at Columbia University, where her thesis adviser was Nobel Laureate Robert Mundell. She is research associate at the National Bureau of Economic Research, research fellow at the Center for Economic and Policy Research, and a member of the Panel of Economic Advisers to the Congressional Budget Office.
Reinhart's book, This Time is Different: Eight Centuries of Financial Folly, is one of the most widely praised studies of the origins of economic crises. In the early 1990s, before the Mexican financial crisis, she wrote about the fickleness of capital flows to emerging markets and likelihood of abrupt reversals. Before the Asian crisis of 1997–98, she documented the international historical links between asset price bubbles and banking crises, and how the latter could lead to currency crashes. In 2000, the Institute published her book, Assessing Financial Vulnerability: An Early Warning System for Emerging Markets, coauthored with Dr. Goldstein and Graciela Kaminsky.
Reinhart has written widely on macroeconomics, international finance, and trade. Her papers have been published in leading scholarly journals. She is one of the most cited economists worldwide, according to Research Papers in Economics. She is currently working on a sequel to her latest book, tentatively titled This Time It's Different: Country Histories, Charts and Other Stories. Reinhart was born in Havana, Cuba, and is a US citizen.
SOURCE Peterson Institute for International Economics