Carmen M. Reinhart
Kennedy School of Government
Harvard University
79 JFK Street
Cambridge, MA 02138
Tel: 617 496 8643
E-Mail: 
WWW: http://www.carmenreinhart.com/
NBER Program Affiliations:
IFM
,
ME
NBER Affiliation: Research Associate
Information about this author at RePEc
NBER Working Papers and Publications
February 2017 | Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?
with Ethan Ilzetzki, Kenneth S. Rogoff: w23134
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| The Country Chronologies to Exchange Rate Arrangements into the 21st Century: Will the Anchor Currency Hold?
with Ethan Ilzetzki, Kenneth S. Rogoff: w23135
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February 2016 | Global Cycles: Capital Flows, Commodities, and Sovereign Defaults, 1815-2015
with Vincent Reinhart, Christoph Trebesch: w21958
Published: Carmen M. Reinhart & Vincent Reinhart & Christoph Trebesch, 2016. "Global Cycles: Capital Flows, Commodities, and Sovereign Defaults, 1815–2015," American Economic Review, vol 106(5), pages 574-580. citation courtesy of 
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December 2015 | The International Monetary Fund: 70 Years of Reinvention
with Christoph Trebesch: w21805
Published: Carmen M. Reinhart & Christoph Trebesch, 2016. "The International Monetary Fund: 70 Years of Reinvention," Journal of Economic Perspectives, American Economic Association, vol. 30(1), pages 3-28, Winter. citation courtesy of 
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October 2015 | The Pitfalls of External Dependence: Greece, 1829-2015
with Christoph Trebesch: w21664
Published: Carmen M. Reinhart & Christoph Trebesch, 2015. "The Pitfalls of External Dependence: Greece, 1829–2015," Brookings Papers on Economic Activity, vol 2015(2), pages 307-328. citation courtesy of 
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September 2015 | Sovereign Debt and Financial Crises: Theory and Historical Evidence
with Ṣebnem Kalemli‐Özcan, Kenneth Rogoff
in Sovereign Debt and Financial Crises, Sebnem Kalemli-Ozcan, Carmen Reinhart, and Kenneth Rogoff, organizers
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July 2015 | From Financial Repression to External Distress: The Case of Venezuela
with Miguel Angel Santos: w21333
Published: Carmen M. Reinhart & Miguel Angel Santos, 2016. "From Financial Repression to External Distress: The Case of Venezuela," Emerging Markets Finance and Trade, vol 52(2), pages 255-284. citation courtesy of 
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| The Antecedents and Aftermath of Financial Crises as told by Carlos F. Díaz Alejandro
w21350
Published: Carmen M. Reinhart, 2015. "The Antecedents and Aftermath of Financial Crises as Told by Carlos F. Díaz-Alejandro," ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION, ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION, vol. 0(Fall 2015), pages 187-217, October. citation courtesy of 
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October 2014 | A Distant Mirror of Debt, Default, and Relief
with Christoph Trebesch: w20577
Published: Journal of the European Economic Association, Volume 14, Issue 1, pages 215–251, February 2016
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June 2014 | Dealing with Debt
with Vincent Reinhart, Kenneth Rogoff
in NBER International Seminar on Macroeconomics 2014, Richard Clarida, Jeffrey Frankel, Francesco Giavazzi, and Hélène Rey, organizers
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January 2014 | Recovery from Financial Crises: Evidence from 100 Episodes
with Kenneth S. Rogoff: w19823
Published: Carmen M. Reinhart & Kenneth S. Rogoff, 2014. "Recovery from Financial Crises: Evidence from 100 Episodes," American Economic Review, American Economic Association, vol. 104(5), pages 50-55, May. citation courtesy of 
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November 2013 | Crowding Out Redefined: The Role of Reserve Accumulation
with Takeshi Tashiro: w19652
Published: Reinhart, Carmen M. & Tashiro, Takeshi, 2013. "Crowding out redefined: the role of reserve accumulation," Proceedings, Federal Reserve Bank of San Francisco, issue Nov, pages 1-43. citation courtesy of 
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| Asia Chartbook: Crises, Credit and Debt, 1835-2013
w19655
Published: Reinhart, Carmen M. & Tashiro, Takeshi, 2013. "Crowding out redefined: the role of reserve accumulation," Proceedings, Federal Reserve Bank of San Francisco, issue Nov, pages 1-43. citation courtesy of 
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March 2013 | Shifting Mandates: The Federal Reserve's First Centennial
with Kenneth S. Rogoff: w18888
Published: Carmen M. Reinhart & Kenneth S. Rogoff, 2013. "Shifting Mandates: The Federal Reserve's First Centennial," American Economic Review, American Economic Association, vol. 103(3), pages 48-54, May. citation courtesy of 
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April 2012 | Debt Overhangs: Past and Present
with Vincent R. Reinhart, Kenneth S. Rogoff: w18015
Published: "Public Debt Overhangs: Advanced-Economy Episodes since 1800" (with Carmen M. Reinhart and Vincent R. Reinhart), Journal of Economic Perspectives, Vol. 26, No. 3, Summer 2012, 69-86. An earlier version was published as "Debt Overhangs: Past and Present," NBER Working Paper No. 18015, April 2012. citation courtesy of 
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March 2012 | A Series of Unfortunate Events: Common Sequencing Patterns in Financial Crises
w17941
Published:
- Carmen M. Reinhart, 2011. "A Series of Unfortunate Events: Common Sequencing Patterns in Financial Crises," Rivista di Politica Economica, SIPI Spa, issue 4, pages 11-36, October-D. citation courtesy of
- Carmen M. Reinhart, 2011. "A Series of Unfortunate Events: Common Sequencing Patterns in Financial Crises," 'Angelo Costa' Lectures Serie, SIPI Spa, issue Lect. XII. citation courtesy of
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December 2011 | Capital Inflows, Exchange Rate Flexibility, and Credit Booms
with Nicolas E. Magud, Esteban R. Vesperoni: w17670
Published: Nicolas E. Magud & Carmen M. Reinhart & Esteban R. Vesperoni, 2014. "Capital Inflows, Exchange Rate Flexibility and Credit Booms," Review of Development Economics, Wiley Blackwell, vol. 18(3), pages 415-430, 08. citation courtesy of 
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May 2011 | On Graduation from Default, Inflation and Banking Crises: Elusive or Illusion?
with Rong Qian, Kenneth S. Rogoff
in NBER Macroeconomics Annual 2010, Volume 25, Daron Acemoglu and Michael Woodford, editors
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March 2011 | The Liquidation of Government Debt
with M. Belen Sbrancia: w16893
Published: Carmen M. Reinhart & M. Belen Sbrancia1, 2015. "The liquidation of government debt," Economic Policy, CEPR;CES;MSH, vol. 30(82), pages 291-333. citation courtesy of 
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February 2011 | Pride Goes Before a Fall: Federal Reserve Policy and Asset Markets
with Vincent Reinhart: w16815
Published: Carmen M. Reinhart and Vincent R. Reinhart, 2011. "Limits of Monetary Policy in Theory and Practice," Cato Journal, Cato Journal, Cato Institute, vol. 31(3), pages 427-439, Fall. citation courtesy of 
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| A Decade of Debt
with Kenneth S. Rogoff: w16827
Published: A Decade of Debt (with Carmen M Reinhart), Washington DC: Peterson Institute for International Economics, September 2011.
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| Capital Controls: Myth and Reality - A Portfolio Balance Approach
with Nicolas E. Magud, Kenneth S. Rogoff: w16805
Published: Nicolas E. Magud & Carmen M. Reinhart & Kenneth S. Rogoff, 2018. "Capital Controls: Myth and Reality--A Portfolio Balance Approach," Annals of Economics and Finance, Society for AEF, vol. 19(1), pages 1-47, May. citation courtesy of 
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September 2010 | After the Fall
with Vincent R. Reinhart: w16334
Published: Carmen M. Reinhart & Vincent R. Reinhart, 2010. "After the fall," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 17-60. citation courtesy of 
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July 2010 | On Graduation from Default, Inflation and Banking Crisis: Elusive or Illusion?
with Rong Qian, Kenneth S. Rogoff: w16168
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March 2010 | This Time is Different Chartbook: Country Histories on Debt, Default, and Financial Crises
w15815
Published: This Time It’s Different: Eight Centuries of Financ ial Folly (with Kenneth S. Rogoff). (Princeton: Princeton University Press, September 2 009).
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| From Financial Crash to Debt Crisis
with Kenneth S. Rogoff: w15795
Published: Carmen M. Reinhart & Kenneth S. Rogoff, 2011. "From Financial Crash to Debt Crisis," American Economic Review, American Economic Association, vol. 101(5), pages 1676-1706, August. citation courtesy of 
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January 2010 | Growth in a Time of Debt
with Kenneth S. Rogoff: w15639
Published: Carmen M. Reinhart & Kenneth S. Rogoff, 2010.
"Growth in a Time of Debt,"
American Economic Review,
American Economic Association, vol. 100(2), pages 573-78, May.
citation courtesy of 
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April 2009 | Capital Flow Bonanzas: An Encompassing View of the Past and Present
with Vincent Reinhart
in NBER International Seminar on Macroeconomics 2008, Jeffrey Frankel and Christopher Pissarides, organizers
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January 2009 | The Aftermath of Financial Crises
with Kenneth S. Rogoff: w14656
Published: Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "The Aftermath of Financial Crises," American Economic Review, American Economic Association, vol. 99(2), pages 466-72, May. citation courtesy of 
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December 2008 | Banking Crises: An Equal Opportunity Menace
with Kenneth S. Rogoff: w14587
Published: Reinhart, Carmen M. & Rogoff, Kenneth S., 2013. "Banking crises: An equal opportunity menace," Journal of Banking & Finance, Elsevier, vol. 37(11), pages 4557-4573. citation courtesy of 
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September 2008 | Capital Flow Bonanzas: An Encompassing View of the Past and Present
with Vincent R. Reinhart: w14321
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April 2008 | The Forgotten History of Domestic Debt
with Kenneth S. Rogoff: w13946
Published: Carmen M. Reinhart & Kenneth S. Rogoff, 2011. "The Forgotten History of Domestic Debt," Economic Journal, Royal Economic Society, vol. 121(552), pages 319-350, 05. citation courtesy of 
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March 2008 | This Time is Different: A Panoramic View of Eight Centuries of Financial Crises
with Kenneth S. Rogoff: w13882
Published: Carmen M. Reinhart & Kenneth S. Rogoff, 2014. "This Time is Different: A Panoramic View of Eight Centuries of Financial Crises," Annals of Economics and Finance, Society for AEF, vol. 15(2), pages 1065-1188, November. citation courtesy of 
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| Capital Inflows and Reserve Accumulation: The Recent Evidence
with Vincent R. Reinhart: w13842
Published: Reinhart, Carmen M. & Reinhart, Vincent R., 2011. "Entrada de capitales y acumulación de reservas: evidencia reciente," Revista Estudios Económicos, Banco Central de Reserva del Perú, issue 20, pages 15-25. citation courtesy of 
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January 2008 | Is the 2007 U.S. Sub-Prime Financial Crisis So Different? An International Historical Comparison
with Kenneth S. Rogoff: w13761
Published:
- Carmen M. Reinhart & Kenneth S. Rogoff, 2008. "Is the 2007 US Sub-prime Financial Crisis So Different? An International Historical Comparison," American Economic Review, American Economic Association, vol. 98(2), pages 339-44, May. 2008 citation courtesy of
- Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Is the 2007 U.S. Sub-Prime Financial Crisis So Different? An International Historical Comparison," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 56(3), pages 291-299, September. citation courtesy of
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May 2007 | Capital Controls: An Evaluation
with Nicolas Magud
in Capital Controls and Capital Flows in Emerging Economies: Policies, Practices and Consequences, Sebastian Edwards, editor
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June 2006 | The Lending Channel in Emerging Economics: Are Foreign Banks Different?
with Marco Arena, Francisco Vázquez: w12340
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January 2006 | Capital Controls: An Evaluation
with Nicolas Magud: w11973
Published: Edwards, Sebastian (ed.) Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences. , University of Chicago: University of Chicago Press, 2007.
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June 2005 | Cap?l Flows & Exchange Rates
NBER Reporter Summer 05
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April 2005 | When It Rains, It Pours: Procyclical Capital Flows and Macroeconomic Policies
with Graciela L. Kaminsky, Carlos A. Végh
in NBER Macroeconomics Annual 2004, Volume 19, Mark Gertler and Kenneth Rogoff, editors
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December 2004 | When in Peril, Retrench: Testing the Portfolio Channel of Contagion
with Fernando A. Broner, R. Gaston Gelos: w10941
Published:
- Broner, Fernando A., R. Gaston Gelos and Carmen M. Reinhart. "When In Peril, Retrench: Testing The Portfolio Channel Of Contagion," Journal of International Economics, 2006, v69(1,Jun), 203-230. citation courtesy of
- Fernando Broner & Gaston Gelos & Carmen Reinhart, 2004. "When in peril, retrench: testing the portfolio channel of contagion," Proceedings, Federal Reserve Bank of San Francisco, issue Jun. citation courtesy of
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September 2004 | When it Rains, it Pours: Procyclical Capital Flows and Macroeconomic Policies
with Graciela L. Kaminsky, Carlos A. Vegh: w10780
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February 2004 | Serial Default and the "Paradox" of Rich to Poor Capital Flows
with Kenneth S. Rogoff: w10296
Published: Reinhart, Carmen M. and Kenneth S. Rogoff. "Serial Default And The 'Paradox' Of Risk-To-Poor Capital Flows," American Economic Review, 2004, v94(2,May), 53-58. citation courtesy of 
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November 2003 | The Unholy Trinity of Financial Contagion
with Graciela L. Kaminsky, Carlos A. Vegh: w10061
Published: Kaminsky, Graciela L., Carmen M. Reinhart and Carlos A. Vegh. "The Unholy Trinity Of Financial Contagion," Journal of Economic Perspectives, 2003, v17(4,Fall), 51-74. citation courtesy of 
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October 2003 | Addicted to Dollars
with Kenneth S. Rogoff, Miguel A. Savastano: w10015
Published: Carmen M. Reinhart & Kenneth S. Rogoff & Miguel A. Savastano, 2014. "Addicted to Dollars," Annals of Economics and Finance, Society for AEF, vol. 15(1), pages 1-50, May. citation courtesy of 
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August 2003 | Debt Intolerance
with Kenneth S. Rogoff, Miguel A. Savastano: w9908
Published: Reinhart, Carmen M., Kenneth S. Rogoff and Miguel A. Savastano. "Debt Intolerance," Brookings Papers on Economic Activity, 34, 2003-1 (2003): 1-74. citation courtesy of 
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May 2003 | Twin Fallacies About Exchange Rate Policy in Emerging Markets
with Vincent R. Reinhart: w9670
Published: Reinhart, Carmen and Vincent R. Reinhart. "Twin Fallacies About Exchange Rate Policy in Emerging Markets." Moneda y Crédito Vol. 216 (2003): 11-29.
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February 2003 | The Center and the Periphery: The Globalization of Financial Turmoil
with Graciela L. Kaminsky: w9479
Published: Carmen M. Reinhart, Carlos A. Végh and Andres Velasco (eds.), Money, Crises, and Transition: Essays in Honor of Guillermo Calvo. Cambridge, MA: The MIT Press, 2008.
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May 2002 | The Modern History of Exchange Rate Arrangements: A Reinterpretation
with Kenneth S. Rogoff: w8963
Published: Carmen M. Reinhart & Kenneth S. Rogoff, 2004. "The Modern History of Exchange Rate Arrangements: A Reinterpretation," The Quarterly Journal of Economics, MIT Press, vol. 119(1), pages 1-48, February. citation courtesy of 
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January 2002 | Default, Currency Crises and Sovereign Credit Ratings
w8738
Published: Carmen M. Reinhart, 2002. "Default, Currency Crises, and Sovereign Credit Ratings," World Bank Economic Review, Oxford University Press, vol. 16(2), pages 151-170, August. citation courtesy of 
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| What Hurts Emerging Markets Most? G3 Exchange Rate or Interest Rate Volatility?
with Vincent Raymond Reinhart
in Preventing Currency Crises in Emerging Markets, Sebastian Edwards and Jeffrey A. Frankel, editors
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October 2001 | What Hurts Most? G-3 Exchange Rate or Interest Rate Volatility
with Vincent R. Reinhart: w8535
Published: Edwards, Sebastian and Jeffrey Frankel (eds.) Preventing Currency Crises in Emerging Markets. Chicago: University of Chicago Press for the NBER, 2001.
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| Financial Markets in Times of Stress
with Graciela L. Kaminsky: w8569
Published: Kaminsky, Graciela L. and Carmen M. Reinhart. "Financial Markets In Times Of Stress," Journal of Development Economics, 2002, v69(2,Dec), 451-470. citation courtesy of 
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August 2001 | Temporary Controls on Capital Inflows
with R. Todd Smith: w8422
Published: Reinhart, Carmen M. and R. Todd Smith. "Temporary Controls On Capital Inflows," Journal of International Economics, 2002, v57(2,Aug), 327-351. citation courtesy of 
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January 2001 | Bank Lending and Contagion: Evidence from the Asian Crisis
with Graciela L. Kaminsky
in Regional and Global Capital Flows: Macroeconomic Causes and Consequences, NBER-EASE Volume 10, Takatoshi Ito and Anne O. Krueger, editors
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| Comment on "Fundamental Determinants of the Asian Crisis: The Role of Financial Fragility and External Imbalances"
in Regional and Global Capital Flows: Macroeconomic Causes and Consequences, NBER-EASE Volume 10, Takatoshi Ito and Anne O. Krueger, editors
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November 2000 | Fear of Floating
with Guillermo A. Calvo: w7993
Published: Calvo, Guillermo A. and Carmen M. Reinhart. "Fear Of Floating," Quarterly Journal of Economics, 2002, v107(2,May), 379-408. citation courtesy of 
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| Fixing for Your Life
with Guillermo A. Calvo: w8006
Published: Calvo, G. (ed.) Emerging Capital Markets in Turmoil: Bad Luck or Bad Policy? Cambridge, MA: MIT Press 2005.
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January 2000 | Comment on "Capital Flows to Emerging Markets: Liberalization, Overshooting, and Volatility"
in Capital Flows and the Emerging Economies: Theory, Evidence, and Controversies, Sebastian Edwards, editor
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| Comment on "Political Contagion in Currency Crises"
in Currency Crises, Paul Krugman, editor
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