"According to economists Carmen Reinhart and Ken Rogoff, whose views we share, crossing the 90% debt/GDP threshold is the equivalent of crossing the proverbial Rubicon of economic growth. It’s a point from which it’s almost impossible to return.
Who is Carmen Reinhart?
From Wikipedia:
Carmen M. Reinhart (née Castellanos, born October 7, 1955) is currently 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.
Born in Havana, Cuba, Reinhart arrived in the United States in 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.[4] Recommended by Peter Montiel, an M.I.T. graduate teaching at FIU,[5] Reinhart in 1978 went on to attend Columbia University graduate school.[4] 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.[4] In 1988 she returned to Columbia to obtain her Ph.D. under supervision of Robert Mundell.[4] 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, and the International Journal of Central Banking, among others.
Research and publications
She has written and published on a variety of topics in macroeconomics 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 among others. 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.
Personal
Reinhart met her future husband, Vincent Reinhart, when they were classmates at Columbia in the late 1970s. They have one son
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