Carmen M. Reinhart is Professor of Economics at the School of Public Policy and the Department of Economics in the University of Maryland. She is a CEPR Research Fellow, a Research Associate in the National Bureau of Economic Research, and serves on the editorial board of the American Economic Review. She received her Ph.D. from Columbia University. Professor Reinhart held positions as Vice President at the investment bank Bear Stearns and more recently, as Deputy Director at the Research Department of the International Monetary Fund. She has written and published on a variety of topics in macroeconomics and international finance and trade including: capital flows to developing countries, capital controls, inflation stabilization, balance of payments and banking crises, and contagion. Her work has been published in leading scholarly journals, including the American Economic Review, the Journal of Political Economy, the Quarterly Journal of Economics, and the Journal of Economic Perspectives and featured in the financial press, including The Economist, The Financial Times, The Washington Times, and The Wall Street Journal.