Based on a new comprehensive database on loans extended by governments and central banks, official (sovereign-to-sovereign) international lending is much larger than generally known. Governments must therefore work together to address disruptions to food supply chains and prevent food protectionism from becoming the post-pandemic new normal. All Rights Reserved. The pandemic is amplifying the risk of a world-wide food-price spike, which would trigger outright crises in many developing countries. Extensive data on economic, financial, fiscal and monetary policy indicators.Annual Data, 1963-2003, 104 countries. NBER International Seminar in Macroeconomics 2008, (Chicago: Chicago University Press for NBER, 2009)Capital account and current account balances. Carmen Reinhart and Kenneth Rogoff, leading economists whose work has been influential in the policy debate concerning the current financial crisis, provocatively argue that … Data Our preferred measures are consumer price indices or their close relative, cost-of-living indices. We have shared with all G20 governments a breakdown of their official bilateral debts extended to DSSI-eligible countries, as reported to us by borrowers, and requested your validation of the data. At the WB/IMF Annual Meetings last month, the Development Committee tasked the Bank and the Fund to propose actions to address low income countries’ unsustainable debt burdens. Capital Flow Bonanzas: An Encompassing View of the Past and Present, (with Vincent R. Reinhart) in Jeffrey Frankel and Francesco Giavazzi (eds.) Visit our website (as well as the data posted alongside the papers) for related additional material related to my ongoing work on crises, exchange rates, and other topics. WORK WITH US. ST. PETERSBURG/SINGAPORE – … Share. In this regard, the scholars participating in the Global Price and Income History Group project at the University of California, Davis and their counterparts at the Dutch International Institute of Social History have been an invaluable source for prices, particularly for Europe. Read more. Bibtex Slides Anchor Currencies Exchange Rate Classifications Data Country Chronologies Appendix Media: , , Each country has its own page with the underlying data from multiple sources (with their corresponding full bibliographical references) that make up the Reinhart-Rogoff (RR) series. Inflation Part IV: Taiwan, Thailand, Tunisia, Turkey, United Kingdom, United States, Uruguay, Venezuela, Zambia, and Zimbabwe. Carmen Reinhart (著), Kenneth Rogoff (著), Sean Pratt (ナレーション), & 5つ星のうち4.1 365個の評価 その他 の形式およびエディションを表示する 他の形式およびエディションを非表示にする . Carmen Reinhart: current contact information and listing of economic research of this author provided by RePEc/IDEAS Carmen Reinhart & Guillermo A. Calvo & Eduardo Fernández-Arias & Ernesto Talvi, 2001. Or at least, they were. Carmen Reinhart and Kenneth Rogoff’s report—“Growth in a Time of Debt”—was a highly regarded paper that concluded that when a country’s debt hits 90% of its GDP, their economies will shrink by 0.1%. Karen Maley Columnist Jun 15, 2020 – 4.16pm President David Malpass today announced that Carmen Reinhart has been appointed as the new VP and Chief Economist of the WBG. Carmen Reinhart is the Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School. Of course with the data made available by professor Reinhart and in the link provided allows others to make discoveries and make checks on the data. "Serial Sovereign Debt Restructurings and Delay: Evidence from the 1930 and 1980s Default Waves." Our data sources for the post World War II period are standard databases of the International Monetary Fund-International Financial Statistics (IFS) and World Economic Outlook (WEO). When no consumer price (cost-of-living) indices are available, we turn to wholesale or producer prices indices (as, for example, China in the 1800s and the U.S. in the 1720s). 2. Our analysis is based on new data on forty-four countries spanning about two hundred years. Inflation Part III: Myanmar, Netherlands, New Zealand, Nicaragua, Nigeria, Norway, Panama, Paraguay, Peru, Philippines, Poland, Portugal, Romania, Russia, Singapore, South Africa, Spain, Sri Lanka, Sweden, and Switzerland. Twitter LinkedIn Email. 15795 March 2010 JEL No. F3,H6,N10 ABSTRACT This paper presents evidence that public debts in the advanced economies Carmen M. Reinhart, University of Maryland and NBER Kenneth S. Rogoff, Harvard University and NBER Abstract This paper offers a “panoramic” analysis of the history of financial crises dating from England’s fourteenth-century default to the current United States sub-prime financial crisis. She was Senior Policy Advisor and Deputy Director at the International Monetary Fund and Chief Economist the investment bank Bear Stearns in the 1980s. Carmen M. Reinhart (ur. Remarks by World Bank Group Chief Economist Carmen Reinhart at the Extraordinary G20 Finance Ministers and Central Bank Governors’ Meeting This site uses cookies to optimize functionality and give you the best possible experience. USD/bbl. F3,H6,N10 ABSTRACT Newly developed long historical time series on public debt, along with modern data on external debts, Kennedy School’s Carmen Reinhart, just named chief economist at the World Bank, says the COVID-born financial crisis will last until the health crisis is solved By Christina Pazzanese Harvard Staff Writer DateMay 20, 2020May 20, 2020 Economist Carmen M. Reinhart, Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School (HKS), will… Our data sources for the post World War II period are standard databases of the International Monetary Fund-International Financial Statistics (IFS) and World Economic Outlook (WEO). We wanted to see for ourselves what Reinhart and Rogoff’s data could say about whether high national debt seems to cause low growth. These include Banking Crisis dates for more than 70 countries from 1800-present, exchange rate crises, stock market crises, sovereign debt growth and default, and many other data series. Cambridge, Mass: MIT Press, 11-53. Harvard professors are not immune from spreadsheet mistakes. Share. The complete references by author to this body of scholarly work are given in the detailed references for each country. “The COVID-19 crisis did not start as a financial crisis, but it is morphing into a global one,” according to Carmen Reinhart, chief economist at the World Bank. 2 . Jobs, procurement, training, and events. Subsequent to the completion of this article, she was named Chief Economist at the World Bank. With 189 member countries, staff from more than 170 countries, and offices in over 130 … Carmen M. Reinhart at IDEAS Selected works and data are also featured Behavioral Finance and Financial Stability Project at Harvard Business School Recent Awards, Commentary, and Research FIMEF Diamond Finance Award, Instituto Mexicano de Ejecutivos de Finanzas, Mexico, August 2019. Global data and statistics, research and publications, and topics in poverty and development. Carmen Reinhart's expertise on financial crises uniquely qualifies her as the new chief economist of the World Bank. © 2020, Carmen Reinhart. The Data Appendix lists all sources used. 16827 February 2011 JEL No. In Section II, we examine the output consequences of 100 crises spanning more than one and a half centuries. Harvard Kennedy School Professor Carmen Reinhart and MIT Sloan School Professor Erik Brynjolfsson discuss global economic uncertainty, the impact of … "The Growth-Interest Rate Cycle in the United States and its Consequences for Emerging Markets," Research Department Publications 4279, Inter-American Development Bank, Research Department. Since our analysis spans several earlier centuries, we rely on the meticulous work of a… That was the … May 15, 2020 Carmen M. Reinhart, Rob Subbaraman. data also documents other crises that often accompany default: including inflation, exchange rate crashes, banking crises, and currency debasements. Ethan Ilzetzki & Carmen M. Reinhart & Kenneth S. Rogoff, 2020. Carmen Reinhart, World Bank chief economist Ms Reinhart spoke as the World Bank and IMF prepare for their joint annual meetings, which will be held online next week. Carmen Reinhart has been appointed as the new Vice President and Chief Economist of the World Bank Group. Kennedy School’s Carmen Reinhart, just named chief economist at the World Bank, says the COVID-born financial crisis will last until the health crisis is solved By Christina Pazzanese Harvard Staff Writer DateMay 20, 2020May 20, 2020 Economist Carmen M. Reinhart, Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School (HKS), will… Harvard Kennedy School professor Carmen Reinhart and Harvard University professor Kenneth Rogoff argued in their 2010 NBER paper that economic growth slows down when the debt/GDP ratio exceeds the threshold of 90 percent of GDP. Meyer, Jose˜n, Carmen M. Reinhart, Christoph Trebesch, and Clemens von Luckner, 2020. Prepared by Carmen M. Reinhart and M. Belen Sbrancia Authorized for distribution by Atish R. Ghosh January 2015 Abstract High public debt often produces the drama of default and restructuring. Finally, from the 1950s (depending on the country) and thereafter to the present the IFS/WEO data dominate all other sources, as it enforces uniformity. Published in volume 26, issue 3, pages 69-86 of Journal of Economic Perspectives, Summer Our preferred measures are consumer price indices or their close relative, cost-of-living indices. When the Amherst economists reworked Reinhart and Rogoff’s calculations to take account of programming errors and data omissions, they came up … Carmen M. Reinhart (née Castellanos, born October 7, 1955) is a Cuban-born American economist and the Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School. When more than one city index is available for a country, we work with the simple average across cities (or regions) for the same country, such as in much of the pre-1800s data. She was Senior Policy Advisor and Deputy Director at the International Monetary Fund and Chief Economist the investment bank Bear Stearns in the 1980s. Carmen Reinhart (L'Avana, 7 ottobre 1955) è un'economista e accademica cubana naturalizzata statunitense. World Bank Chief Economist Carmen Reinhart said the coronavirus pandemic is turning into a major economic crisis and warned of the possibility of a financial crisis emerging. We study economic growth and inflation at different levels of government and external debt. 16893 March 2011 JEL No. For a more comprehensive description of our approach, data and coding, see the companion paper Carmen Reinhart, Vincent Reinhart, and Christoph Trebesch (2016). Carmen Reinhart, World Bank Vice President and Chief Economist, talks with Bloomberg’s Simon Kennedy at the Bloomberg Invest Global virtual summit about the near- … Published Versions Ethan Ilzetzki & Carmen M Reinhart & Kenneth S Rogoff, 2019. News; WHO WE ARE . jako Castellanos 7 października 1955) – amerykańska ekonomistka, profesor finansów Uniwersytetu Harvarda, pracowniczka naukowa NBER i CEPR. in Mark Gertler and Kenneth S. Rogoff, (eds.) The emphasis is on the most severe crises. This site uses cookies to optimize functionality and give you the best possible experience. © 2020, Carmen Reinhart. Sebastian Horn, Carmen Reinhart, Christoph Trebesch 20 March 2020 To provide a long-run perspective, this column documents the international response to a variety of disasters since 1790. Twitter LinkedIn Email. Economist Carmen M. Reinhart, Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School (HKS), will take a two-year leave to become chief economist and vice president at the World Bank on June 15, it was announced today. One difference between our study and previous classification efforts is that we employ an extensive data base on market-determined parallel exchange rates. The Twin Crises: The Causes of Banking and Balance of Payments Problems. Carmen M. Reinhart and M. Belen Sbrancia NBER Working Paper No. Carmen M. Reinhart & Kenneth S. Rogoff. We develop a novel system of re-classifying historical exchange rate regimes. 134(2), pages 599-646. Inflation Part II: Finland, France, Germany, Ghana, Greece, Guatemala, Honduras, Hungary, Iceland, India, Indonesia, Ireland, Italy, Japan, Kenya, Korea, Malaysia, Mauritius, Mexico, and Morocco. Inflation Part I: Algeria, Angola, Argentina, Australia, Austria, Belgium, Bolivia, Brazil, Canada, Central African Republic, Chile, China, Colombia, Costa Rica, Cote D'Ivoire, Denmark, Dominican Republic, Ecuador, Egypt, and El Salvador. Reinhart is the Vice President and Chief Economist of the World Bank Group. Carmen M. Reinhart & Kenneth S. Rogoff. All Rights Reserved. Kaminsky, Graciela L. and Carmen M Reinhart, The Twin Crises: The Causes of Banking and Balance of Payments Problems or here, American Economic Review, Vol.89 No.4, June 1999, 473-500Financial and macroeconomic indicators of currency and banking crises. Tim Walker looks at … (with Carmen Reinhart and Ken Rogoff), Quarterly Journal of Economics, 134:2, 599–646, 2019. (I have never taken any classed from professors Reinhart or Rogoff or have any contact other than looking at their work on the internet. Working Paper 8963 DOI 10.3386/w8963 Issue Date May 2002. Data Exchange Rate Arrangements Entering the 21st Century: Which Anchor Will Hold? ©2009 Carmen M. Reinhart and Kenneth Rogoff (P)2009 Gildan Media Corp 批評家のレビュー " This Time Is Different doesn't simply explain what went wrong in our most recent crisis. Capital Inflows and Reserve Accumulation: The Recent Evidence (with Vincent R. Reinhart), NBER Working Paper 13842, March 2008.Spreadsheet with cross-country reserve requirements data. Annual Data, 1963-2003, 104 countries . But it's not all good news, because the largest economic imbalances remain unchanged. Absent any composite index of any kind, we fill in the holes in coverage with individual commodity prices. Public Debt Overhangs: Advanced-Economy Episodes since 1800 by Carmen M. Reinhart, Vincent R. Reinhart and Kenneth S. Rogoff. Carmen M. Reinhart and Kenneth S. Rogoff NBER Working Paper No. Growth in a Time of Debt Carmen M. Reinhart and Kenneth S. Rogoff NBER Working Paper No. Market data provided by Factset. Since our analysis spans several earlier centuries, we rely on the meticulous work of a number of economic historians who have constructed such price indices item by item, most often by city rather than by country, from primary sources. In 2018 we were awarded the King Juan Carlos Prize in Economics and NABE's Adam Smith Award, among others. Extensive data on economic, financial, fiscal and monetary policy indicators. The World Bank’s Carmen Reinhart and Harvard’s Kenneth Rogoff say the more official aid and soft loans can go toward helping needy citizens around … Carmen Reinhart studierte an der Florida International University in Miami, machte ihren Bachelor of Arts mit summa cum laude und ging dann an die New Yorker Columbia University, wo sie neben dem Master of Arts 1980 auch 1981 als Master of Philosophy abschloss. For colonial America, the Historical Statistics of the United States (HSOUS), while Richard Gardner (Economic History of Latin America, the United States and the New World, 1500-1900) covers key cities. Unpublished, Harvard University is ... with very serious financial consequences,” World Bank Chief Economist Carmen Reinhart told Bloomberg. E31,E4,E6,F3,F4,H6,N10 ABSTRACT Historically, periods of high indebtedness have been associated with a rising incidence of The rates of US economic growth and especially personal saving have been higher than previously believed, according to revised data from the Bureau of Economic Analysis. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or below-market real interest rates. Revision Date December 2011. Meet Carmen Reinhart and Kenneth Rogoff, the Harvard professors who thought they had austerity licked - and Thomas Herndon, the student who proved them wrong . See Carmen Reinhart and Vincent Reinhart (2009), Jonathan Ostry (2012), Graciela Kaminsky and Pablo Vega-Garcia (2014), and the literature cited therein. Four spreadsheets cover annual data from as early as 1265 (depending on the country) to 2010 (updated with the IMF's October 2010 World Economic Outlook) for 70 countries. Carmen M. Reinhart is the Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School.She was Senior Policy Advisor and Deputy Director at the International Monetary Fund and Chief Economist the investment bank Bear Stearns in the 1980s. Supply chains and prevent food protectionism from becoming the post-pandemic new normal 1800 by Carmen M. Reinhart and Kenneth Rogoff... Euro Punching Below Its Weight?, '' NBER Working Paper 15639 DOI 10.3386/w15639 Issue Date January JEL. Serial Sovereign Debt Restructurings and Delay: Evidence from the 1930 and 1980s Waves... 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