Kenneth Rogoff

The prize winner 2011

Kenneth Rogoff is Professor of Economics and Thomas D. Cabot Professor of Public Policy at Harvard University in Cambridge, USA. Rogoff has published numerous academic papers in the fields of international finance and macroeconomics. His research topics are exchange sovereign default and debt restructuring, exchange rate developments, global imbalances and the development of financial crises.
The book he recently published jointly with Carmen M. Reinhart, “This Time is Different: Eight Centuries of Financial Folly” (2009), investigates the history of financial crises over the last eight centuries and was awarded the Paul A. Samuelson Award from the TIAA-CREF Institute.
Prior to his time at Harvard, Kenneth Rogoff taught at the University of California, Berkeley and at Princeton University. He has taught as a visiting professor at institutes including the London School of Economics and New York University, and has worked as a guest researcher for the Board of Governors of the Federal Reserve System. From 2001 to 2003 he was the Chief Economist and Director of Research at the International Monetary Fund (IMF).
Kenneth Rogoff has been a member of the Group of Thirty (G30), an international committee made up of 30 leading current and former policy-makers, financiers and academics.

Kenneth Rogoff is today’s leading figure in international macroeconomics

The empirical, theoretical and economical-historical works of Kenneth Rogoff include amongst others research on exchange rates, the credibility of monetary policy and central bank independence, sovereign debt and the history of financial crises. As such, Rogoff is today's leading figure in international macroeconomics, a field which his work covers in its entire thematic spectrum. His findings have permanently influenced academic theories and empirical research. This applies not only to his latest work on the financial crisis, but also to his earlier studies on topics such as exchange rate development, credibility of monetary policy and new open economy macroeconomics. Kenneth Rogoff's works have made a significant difference to the education of young economists over the past 30 years. The Meese-Rogoff Puzzle (published in 1983) which carries his name and relates to the unpredictability of exchange rates using economic models has had a profound effect on research and teaching as well as economic practice. It is still considered to be the central empirical fact about major currency exchange rates. His 1985 paper on central bank independence and inflation targeting not only sparked a large academic literature on institutional solutions to the problem of monetary policy credibility, but was also influential in a sweeping international trend towards establishing strong independent central banks which had previously been relatively rare. Together with Maurice Obstfeld, Kenneth Rogoff is one of the founders of the “New Open Economy Macroeconomics”, which offers a theoretical basis for analyzing open economies and forming policies. It has proven especially useful for central banks.  



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