Early in his career, Rogoff served as an economist at the International Monetary Fund (IMF), and at the Board of Governors of the Federal Reserve System. Please email krogoff@harvard.edu. Rogoff grew up in Rochester, New York. by Andrew Lilley and Kenneth Rogoff, Harvard University Department of Economics. [15][16] They disavowed their claim that a 90% government debt-to-GDP ratio is a specific tipping point for growth outcomes. "[13][14] Their calculations demonstrated that some high debt countries grew at 2.2 percent, rather than the −0.1 percent figure initially cited by Reinhart and Rogoff. Outside ActivitiesIn addition to academic research lectures at universities, Professor Rogoff also gives talks to a wide variety of audiences worldwide, including central banks, finance ministries, government and non-government associations, financial institutions, energy groups, and major companies. Kenneth Rogoff, Professor of Economics and Public Policy at Harvard University and recipient of the 2011 Deutsche Bank Prize in Financial Economics, was the chief economist of the International Monetary Fund from 2001 to 2003. Harvard University professor Kenneth Rogoff discusses the supply shock the coronavirus will inflict on the economy. He is the Thomas D. Cabot Professor of Public Policy and Professor of Economics at Harvard University. Fellow economist Alan Blinder credits both Rogoff and Carmen Reinhart with describing highly relevant aspects of the 2008 financial institution near-meltdown and resulting serious recession. "Not your father’s recovery policies," writes Blinder. Kenneth Rogoff is Thomas D. Cabot Professor of Public Policy and Professor of Economics at Harvard University. Click here for further details on outside activities, and here for contacts relating to outside activities. [9] He is also a regular contributor to Project Syndicate since 2002. Copyright © 2020 The President and Fellows of Harvard College. Kenneth Rogoff This paper revisits the debate on ruling out speculative hyperinflations in monetary models. Edited excerpts: What worries you in terms of the biggest risks in terms of probabilities that you see? He is co-author of This Time is Different: Eight Centuries of Financial Folly and author of The Curse of Cash. For a look at how this economic downturn compares to others, Paul Solman sat down with Harvard University economist Ken Rogoff. Kenneth S Rogoff teaches in the Economics Department of Harvard University where he is Thomas D Cabot Professor of Public Policy.During 2001-2003 Rogoff was chief economist at the Internatonal Monetary Fund. In other tournaments, he drew for first at Norristown in 1973 and at Orense in 1976. He is co-author of This Time is Different: Eight Centuries of Financial Folly and author of The Curse of Cash. Biography. The property is valued at about $2.5 million. [19], Chief Economist of the International Monetary Fund, Learn how and when to remove this template message, "WEDDINGS; Natasha S. Lance, Kenneth S. Rogoff", "Essays on expectations and exchange rate volatility", "Tigran Vartanovich Petrosian vs Kenneth Rogoff", "Magnus Carlsen Storms New York's Chess Scene", "What Did We Learn from the Financial Crisis, the Great Recession, and the Pathetic Recovery?,", "Reinhart, Rogoff... and Herndon: The student who caught out the profs", "How Much Unemployment Was Caused by Reinhart and Rogoff's Arithmetic Mistake? He won the United States Junior Championship in 1969 and spent the next several years living primarily in Europe and playing in tournaments there. (Fiscal policy at times even ended up becoming pro-cyclical, which it was in some European countries under austerity policies.) Conference draft for presentation at Strategies For Monetary Policy: A Policy Conference, The Hoover Institution, Stanford University, May 4, 2019, 9:15 am PST. And, since interest rates were already near zero, the standard monetary tool of lowering rates was not going to provide much help. Kenneth Rogoff, Professor of Economics and Public Policy at Harvard University and recipient of the 2011 Deutsche Bank Prize in Financial Economics, was the chief economist of the International Monetary Fund from 2001 to 2003. Rogoff received a BA and MA from Yale University summa cum laude in 1975, and a PhD in Economics from the Massachusetts Institute of Technology in 1980. [13] Rogoff and Reinhart claimed that their fundamental conclusions were accurate after correcting the coding errors detected by their critics. Kenneth Saul Rogoff (born March 22, 1953) is an American economist and chess Grandmaster. He is co-author of This Time is Different: Eight Centuries of Financial Folly and author of The Curse of Cash. He was the former Chief Economist at the International Monetary Fund, and co-authored various books. (Source: Bloomberg) 2004: Council on Foreign Relations Kenneth Rogoff, Professor of Economics and Public Policy at Harvard University and recipient of the 2011 Deutsche Bank Prize in Financial Economics, was the chief economist of the International Monetary Fund from 2001 to 2003. His … Rogoff was awarded the IM title in 1974, and the GM title in 1978. • Kenneth Rogoff is professor of economics and public policy at Harvard University and was the chief economist of the International Monetary Fund from 2001 to 2003. (Harvard University) (CNSNews.com) – The Unites States should phase-out all denominations of the U.S. dollar larger than a $10 bill to thwart money launderers and tax evaders, Harvard economist Kenneth Rogoff told attendees at a Council on Foreign Relations event this week in Washington, D.C.“Cash is not used in ordinary retail transactions. [10], By contrast, the 2008 near-meltdown destroyed parts of the financial system and left other parts reeling and in serious need of de-leveraging. From 2001-2003, Rogoff served as Chief Economist and Director of Research at the International Monetary Fund. His 2009 book with Carmen Reinhart, This Time is Different: Eight Centuries of Financial Folly has been very widely cited by academics, policymakers and journalists. Kenneth Rogoff, professor of economics at Harvard University, a chess grandmaster and author of ‘The Curse of Cash’, says it will take years to understand the full implication of demonetisation in India. Kenneth has 1 job listed on their profile. Abstract. Even the serious recession of 1982, which Blinder states "was called the Great Recession in its day," fits comfortably within this category of a normal recession which will respond to the standard tools. His book This Time Is Different: Eight Centuries of Financial Folly, which he co-authored with Carmen Reinhart, was released in October 2009. Kenneth Rogoff. Contact Information:Littauer Center 216krogoff@harvard.eduTel: 617.495.4022Fax: 617.495.7730. The property is valued at about $2.5 million. [10], In April 2013, Rogoff was at the center of worldwide attention with Carmen Reinhart (coauthor of the book This Time is Different) when their widely cited study "Growth in a Time of Debt" was shown to contain computation errors which critics claim undermine its central thesis that too much debt causes recession. He is the Thomas D. Cabot Professor of Public Policy and Professor of Economics at Harvard University. Kenneth Rogoff, Thomas D. Cabot Professor of Public Policy and Professor of Economics, and co-author of a noteworthy history of economic disasters, … ", "Does High Public Debt Consistently Stifle Economic Growth? Kenneth Rogoff, Harvard University economics professor, discusses the state of Federal Reserve monetary policy with Bloomberg's Mike McKee on "Bloomberg Markets." [4] He has also drawn individual games against former world champions Mikhail Tal[5] and Tigran Petrosian. Rogoff was the Charles and Marie Robertson Professor of International Affairs at Princeton University.[8]. American Academy of Arts and Sciences 2008: Group of Thirty. He was 3rd in the World Junior Championship of 1971 and finished 2nd in the US Championship of 1975, which doubled as a Zonal competition, a half point behind Walter Browne; this result qualified him for the 1976 Interzonal at Biel where he finished 13–15th. Economic Advisory Panel of the Federal Reserve. He is co-author of This Time is Different: Eight Centuries of Financial Folly and author of The Curse of Cash. The U.S. is better equipped to combat the new coronavirus than any other country in the world, according to Harvard University economics professor Kenneth Rogoff. View Kenneth Rogoff’s profile on LinkedIn, the world's largest professional community. Kenneth Rogoff is Thomas D. Cabot Professor of Public Policy and Professor of Economics at Harvard University. Two top American economists – Carmen Reinhart and Kenneth Rogoff – show that the more indebted a country is, with a government debt/GDP ratio of 0.9, and external debt/GDP of 0.6 being critical thresholds, the more GDP growth drops materially. Kenneth Saul Rogoff (born March 22, 1953) is an American economist and chess Grandmaster. China Housing May Have Hit ‘Potentially Precarious Peak,’ Harvard’s Rogoff Argues Bloomberg News 8/17/2020 Pfizer's COVID-19 vaccine candidate detailed … Office HoursBy appointment. [10], In a normal recession such as 1991 or 2000, the Keynesian tools of tax cuts and infrastructure spending (fiscal stimulus), as well as lowered interest rates (monetary stimulus), will usually right the economic ship in a matter of months and lead to recovery and economic expansion. Kenneth Rogoff is a professor of economics and public policy at Harvard University. One of them is with Carmen Reinhart - This Time Is Different: Eight Centuries of Financial Folly. At sixteen Rogoff dropped out of high school to concentrate on chess. [11][12] An analysis by Thomas Herndon, Michael Ash and Robert Pollin argued that "coding errors, selective exclusion of available data, and unconventional weighting of summary statistics led to serious errors that inaccurately represent the relationship between public debt and GDP growth among 20 advanced economies in the post-war period. [18], In The Curse of Cash, published in 2016, he urged that the United States phase out the 100-dollar bill, then the 50-dollar bill, then the 20-dollar bill, leaving only smaller denominations in circulation. National Academy of Sciences Kenneth Rogoff, Professor of Economics and Public Policy at Harvard University and recipient of the 2011 Deutsche Bank Prize in Financial Economics, was the chief economist of the International Monetary Fund from 2001 to 2003. To figure out what might be next, Bloomberg Markets spoke to Reinhart, a former deputy director at the IMF who’s now a professor at the Harvard Kennedy School, and Rogoff, a former IMF chief economist who’s now a professor at Harvard. Large amounts of governmental debt, household debt, corporate debt, and financial institution debt were left in its wake. We get some very irrational action coming out of the US administration that … A Critique of Reinhart and Rogoff", "Austerity's Spreadsheet Error - The Colbert Report (Video Clip)", "Reinhart "Reinhart-Rogoff Initial Response", "Rogoff and Reinhart defend their numbers", "Opinion | Debt, Growth and the Austerity Debate", "They Did Their Homework (800 Years of It)", "This Harvard Economist Is Trying to Kill Cash", This Time is Different: An Interview with Kenneth Rogoff, https://en.wikipedia.org/w/index.php?title=Kenneth_Rogoff&oldid=970398252, Fellows of the American Academy of Arts and Sciences, Members of the United States National Academy of Sciences, Pages using infobox economist as a module, BLP articles lacking sources from May 2018, Wikipedia articles with BIBSYS identifiers, Wikipedia articles with CANTIC identifiers, Wikipedia articles with SUDOC identifiers, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, This page was last edited on 31 July 2020, at 02:10. 2009. His 2009 book with Carmen Reinhart, This Time is Different: Eight Centuries of Financial Folly has been widely cited by academics, policymakers and journalists, while its massive data set has been extensively used by researchers worldwide. In the United States, economist Paul Krugman argued that even the combination of the Oct. 2008 bailout plus the Feb. 2009 bailout was not big enough, although Blinder states that they were large compared to previous bailouts. Kenneth S. Rogoff, the Thomas D. Cabot Professor of Public Policy at Harvard University and former chief economist of the International Monetary Fund, is the coauthor of the New York Times bestseller This Time Is Different: Eight Centuries of Financial Folly (Princeton). And because of this debt, the normal tools of tax cuts and increased infrastructure spending were somewhat less available and/or politically difficult to achieve. It turns out this time really is different. His book "This Time … His father was a Professor of Radiology at the University of Rochester. Kenneth Rogoff, Professor of Economics and Public Policy at Harvard University and recipient of the 2011 Deutsche Bank Prize in Financial Economics, was the chief economist of the International Monetary Fund from 2001 to 2003. Talking to Punita Kumari Sinha of ET Now, Kenneth Rogoff, Economics Professor, Harvard University, says about 80% of US currency is in 100 dollar bills and 95% of American have never seen a 100 dollar bill. He appears frequently in the national media and writes a monthly newspaper column that is syndicated in more than fifty countries. This Time Is Different: Eight Centuries of Financial Folly.Princeton, New Jersey: Princeton University Press. Reinhart, Carmen M., and Kenneth S. Rogoff. [10], Recovery from what Blinder terms a Reinhart-Rogoff recession may require debt forgiveness, either directly, or implicitly through encouraging somewhat higher than normal rates of inflation. From 2001-2003, Rogoff served as Chief Economist at the International Monetary Fund. “There are many people who think they have 20/20 hindsight,” Harvard University economics professor Kenneth Rogoff said at the conference after Bernanke spoke. BLOOMBERG MARKETS: How are you faring during the lockdown? Where he lives: Bethesda, still in the house he bought in 1985 with then wife Alice Rogoff. However, at eighteen he made the decision to go to college and pursue a career in economics rather than to become a professional player, although he continued to play and improve for several years afterward. XXIII Annual Conference of the Central Bank of Chile "Independence, Credibility, and Communication of Central Banking" July 22nd and 23rd, 2019. He says it has been politically popular and the … Kenneth S. Rogoff. [17] The subject remains controversial, because of the political ramifications of the research, though in Rogoff and Reinhart's words "[t]he politically charged discussion ... has falsely equated our finding of a negative association between debt and growth with an unambiguous call for austerity."[17]. Kenneth S. Rogoff, the Thomas D. Cabot Professor of Public Policy at Harvard University and former chief economist of the International Monetary Fund, is the coauthor of the New York Times bestseller This Time Is Different: Eight Centuries of Financial Folly (Princeton). After Stiglitz criticized the IMF in his book, Globalization and Its Discontents, Rogoff replied in an open letter. Kenneth Rogoff is Thomas D. Cabot Professor at Harvard University. Harvard Assistant for research, teaching and related activities:Michael O'NeilLittauer Center M-10michael_oneil@fas.harvard.eduTel: 617.496.2606Fax: 617.495.7730. Harvard University - Department of Economics; National Bureau of Economic Research (NBER) Date Written: July 26, 2019. Kenneth Rogoff is Thomas D. Cabot Professor of Public Policy at Harvard University. April 24, 2019 . Harvard Economics Professor Kenneth Rogoff. Costs and benefits to phasing out paper currency By Kenneth Rogoff1, Harvard University This paper explores the costs and benefits to phasing out paper currency, beginning with large-denomination notes, later extending to all but small coins and bills, and eventually those as well. From 2001-2003, Rogoff served as Chief Economist and Director of Research at the International Monetary Fund. Specifically, Reinhart and Rogoff write: Kenneth Rogoff is Thomas D. Cabot Professor at Harvard University, and former Chief Economist at the International Monetary Fund. 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