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News Release

Carmen M. Reinhart Receives 2010 TIAA-CREF Paul A. Samuelson Award

January 10, 2011

WASHINGTON—The Peterson Institute for International Economics (PIIE) is delighted to announce that Senior Fellow Carmen M. Reinhart has been selected to receive the TIAA-CREF Institute's Paul A. Samuelson Award for Outstanding Scholarly Writing on Lifelong Financial Security. Dr. Reinhart, along with coauthor Kenneth S. Rogoff, received the award in recognition of their best-selling book This Time is Different: Eight Centuries of Financial Folly. It was presented at the Allied Social Science Association's annual convention in Denver on January 7.

"We are delighted that Carmen has been selected to receive such a prestigious award. Her pivotal work has greatly enhanced our understanding of financial crises," said PIIE Director C. Fred Bergsten.

The Paul A. Samuelson Award, named after the Nobel Prize winning economist, is given annually in recognition of research that contributes to the improvement of America's financial well being. The winner receives $10,000.

"Reinhart and Rogoff's fascinating book provides realistic tools for future prevention of societal financial crises through the identification of critical recurring precipitating events," said Stephanie Bell-Rose, head of the TIAA-CREF Institute.

About Carmen M. Reinhart

Carmen M. Reinhart recently became the Dennis Weatherstone Senior Fellow at the Peterson Institute for International Economics. She was previously professor of economics and director of the Center for International Economics at the University of Maryland. She was chief economist and vice president at Bear Stearns in the 1980s and spent several years at the International Monetary Fund. She is a research associate at the National Bureau of Economic Research, research fellow at the Centre for Economic Policy Research, and member of the Congressional Budget Office Panel of Economic Advisers and Council on Foreign Relations. She has served on many editorial boards and has frequently testified before Congress. She received her PhD from Columbia University.

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About the Institute

The Peter G. Peterson Institute for International Economics is a private, nonprofit, nonpartisan research institution devoted to the study of international economic policy. Since 1981 the Institute, directed by C. Fred Bergsten, has provided timely and objective analysis of, and concrete solutions to, a wide range of international economic problems. It is one of the very few economics think tanks that are widely regarded as "nonpartisan" by the press and "neutral" by the US Congress, its research staff is cited by the quality media more than that of any other such institution, and it was selected as Top Think Tank in the World for 2008 in the first comprehensive survey of over 5,000 such institutions. Support is provided by a wide range of charitable foundations, private corporations, individual donors, and from earnings on the Institute's publications and capital fund. It moved into its award-winning new building in 2001, celebrated its 25th anniversary in 2006, and adopted its new name at that time, having previously been the Institute for International Economics.