Kenneth Rogoff

Ken Rogoff
Chief Economist of the International Monetary Fund
In office August 2001 – September 2003
President	Horst Köhler
Preceded by	Michael Mussa
Succeeded by	Raghuram Rajan
Personal details
Born	(1953-03-22) March 22, 1953 Rochester, New York, U.S.
Spouse(s)	Evelyn Brody (m. 1979; d. 1989) Natasha Lance (m. 1995)
Education	Yale University (BA, MA) Massachusetts Institute of Technology (PhD)
Website	University website
Academic career
Institution	Harvard University
Field	Financial economics
Doctoral advisor	Rudi Dornbusch[1]
Doctoral students	Gita Gopinath[2]
Influences	James Tobin Stanley Fischer Jerry Hausman Jagdish Bhagwati
Information at IDEAS / RePEc

Kenneth Saul "Ken" Rogoff (born March 22, 1953) is an American economist and chess Grandmaster. He is the Thomas D. Cabot Professor of Public Policy and Professor of Economics at Harvard University.

Early life

Rogoff grew up in Rochester, New York. His father was a Professor of Radiology at the University of Rochester.

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.

Chess

At sixteen Rogoff dropped out of high school to concentrate on chess. He won the United States Junior Championship in 1969 and spent the next several years living primarily in Europe and playing in tournaments there. 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. Rogoff was awarded the IM title in 1974, and the GM title in 1978. 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. In other tournaments, he drew for first at Norristown in 1973 and at Orense in 1976.^[3] He has also drawn individual games against former world champions Mikhail Tal^[4] and Tigran Petrosian.^[5] In 2012 he drew a blitz game with the world's highest rated player Magnus Carlsen.^[6]

Career

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.

Rogoff was the Charles and Marie Robertson Professor of International Affairs at Princeton University.^[7]

In 2002, Rogoff was in the spotlight because of a dispute with Joseph Stiglitz, former chief economist of the World Bank and 2001 Nobel Prize winner. After Stiglitz criticized the IMF in his book, Globalization and Its Discontents, Rogoff replied in an open letter.^[8] He is also a regular contributor to Project Syndicate since 2002.

Criticism and controversy

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.^[9][10] 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."^[11] Their calculations demonstrated that high debt countries grew at 2.2 percent, rather than the 3000900000000000000♠−0.1 percent figure initially cited by Reinhart and Rogoff.^[11] Rogoff and Reinhart claimed that their fundamental conclusions were accurate after correcting the coding errors detected by their critics.^[12][13] They disavowed their claim that a 90% government debt-to-GDP ratio is a specific tipping point for growth outcomes.^[14] 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."^[14]

Memberships

2004: Council on Foreign Relations
Economic Advisory Panel of the Federal Reserve.
National Academy of Sciences
American Academy of Arts and Sciences
2008: Group of Thirty.

Publications

His book This Time Is Different: Eight Centuries of Financial Folly, which he co-authored with Carmen Reinhart, was released in October 2009.^[15]

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.^[16]

References

External links

• Kenneth Rogoff at Harvard University Department of Economics
• Column archive at Project Syndicate
• Appearances on C-SPAN
• Kenneth Rogoff on Charlie Rose
• Kenneth Rogoff on IMDb
• Works by or about Kenneth Rogoff in libraries (WorldCat catalog)
• Kenneth Rogoff player profile and games at Chessgames.com
• On Point with Tom Ashbrook Thursday, November 15, 2007 show titled Where’s the Economy Headed?
• This Time is Different: An Interview with Kenneth Rogoff at the Wayback Machine (archived April 8, 2011), Nicholas Rugoff, The Politic, May 1, 2010
• Open Letter to Joseph Stiglitz
• Kenneth Rogoff publications indexed by Google Scholar
• "Kenneth Rogoff". JSTOR.