23 July 2019

Carmen Reinhart

Professor of the International Financial System at Harvard University’s Kennedy School of Government
  • Interest rates remain low because policymakers have gone to great lengths to keep them there.

    What’s new about today’s low interest rates?

    - Jul 29, 2016 10:34am
    A day seldom passes without articles appearing in the financial press pondering why interest rates have remained so low for so long. This is one of those articles. So let’s start by clarifying whose and which...
  • The collapse of the Thai baht in 1997 sparked the Asian financial crisis. Photo: internet

    The return of the currency crash

    - Feb 1, 2016 9:51am
    Currency market volatility has been around for decades, if not centuries. Wide gyrations in exchange rates became a staple of international financial markets after the Bretton Woods system broke down in the early 1970s, and mega...
  • Many small businesses in Brazil have been forced to close, and the country's credit rating has been cut to junk. Photo: Bloomberg

    Watch out for sovereign defaults in 2016

    - Jan 4, 2016 9:09am
    When it comes to sovereign debt, the term “default” is often misunderstood. It almost never entails the complete and permanent repudiation of the entire stock of debt; indeed, even some Czarist-era Russian bonds were eventually (if...
  • The current bust is now in its fourth year, with non-oil commodity prices (relative to the export prices of manufactures) having so far fallen about 25 percent. Photo: Seattle Times

    Why the commodity price bust is probably not over yet

    - Nov 20, 2015 9:09am
    The global commodity supercycle is hardly a new phenomenon. Though the details vary, primary commodity exporters tend to act out the same story, and economic outcomes tend to follow recognizable patterns. But the element of predictability...

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