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The U. S. actions will radiate out in the global economy, Rogoff said. "Europe might be forced to do similar measures. "

'That, ' says Harvard's Mr. Rogoff, 'turned out to be not such a good idea. '

Mr. Rogoff took an econometrics course, reveling in its precision and rigor, and went on to focus on comparative economic systems.

Mr Rogoff was careful to say that the malign effects of the subprime mess might not be as great as those of previous crises.

As Ken Rogoff of Harvard University puts it, the Fed is "taking advantage of a respite in the financial crisis to shore up the dollar" .

Economists Ken Rogoff and Carmen Reinhardt cite centuries of data to argue that the aftermath of financial crises is always painful.

Harvard economist Ken Rogoff frets that the U. S. could become the next Greece.

That's the case today with Greece , notes Kenneth Rogoff, one author of the book and a Harvard University economist .

Ken Rogoff, another former chief economist, said: "The IMF doesn't have nearly the resources to backstop all of eastern Europe. "

As for Profs Reinhart and Rogoff, I suspect that they, too, will be mostly remembered for the fact that their policies have been tried.

Now back to Rogoff's idea of giving Greece what would essentially be a long-term loan with delayed payments -- it has its drawbacks.

Even Mr Rogoff thinks America will need a fiscal expansion of $500 billion-600 billion in each of the next two years.

Mr Rogoff echoed calls from Robert Zoellick, World Bank president, for the EU to take a leading role in rescuing eastern Europe.

As the economists Ken Rogoff and Carmen Reinhart have written, recoveries that follow financial crises are typically a hard climb.

Like Mr. Rogoff, she took a circuitous route to her present position.

"The financial system is incredibly vulnerable, " said Ken Rogoff, a former chief economist at the International Monetary Fund.

On this, Prof Rogoff, a former chief economist of the International Monetary Fund, is gloomy.

One element of the Reinhart-Rogoff study grasped keenly by conservatives is its warning that excessive debt damages an economy.

In his appearance on Sunday on "This Week, " Krugman repeated his attack on Rogoff.

A widely cited paper by economists Ken Rogoff and Carmen Reinhart says countries with a ratio above 90% tend to grow more slowly.

"The question is, will it get as bad as the 1970s? " asked Mr. Rogoff, recalling an era of spiking gas prices and double-digit inflation.

Columbia University's Michael Woodford and Harvard University's Kenneth Rogoff are among proponents of faster price increases.

But so far, says Professor Rogoff, the numbers derived from this analysis of history are "on track. "

Reinhart and Kenneth Rogoff of Harvard University have analyzed recent financial crises in advanced economies.

Mr. Rogoff is professor of economics at Harvard and former chief economist at the International Monetary Fund.

Mr Rogoff, after all, had a point: counter-cyclical policies are tricky.

'This money is not in cash registers, it's not in bank vaults, ' Prof. Rogoff says.

Those economies also deleveraged during the tranquil booming years (as discussed in Reinhart and Rogoff, 2010).

Fears about Iran getting nukes or North Korea going nuts concern Rogoff more than any single economic issue.

Mr Rogoff cites the low value of official short-term rates, the "unusually lax stance of fiscal policy" and global imbalances.

"The big question is what happens next, " said Kenneth S. Rogoff, a professor of economics at Harvard.

They began the book around 2003, not long after Mr. Rogoff lured Ms. Reinhart back to the I. M. F. to serve as his deputy.

The years just before the start of the subprime meltdown fit the Reinhart-Rogoff template remarkably well.

Their findings have relevance to current policy debates in Washington, Rogoff adds.

But Rogoff cautioned against equating that skill with forecasting.

They tend to be deeper and more enduring, according to now-famous research by economists Carmen Reinhart and Kenneth Rogoff.

In the past, other economists often took the same empirical approach as the Reinhart-Rogoff team.

Prof Rogoff also spotted the dangers of unsustainable global economic expansion in a 2004 paper with Maurice Obstfeld.

The average rich-world banking crisis in the Reinhart-Rogoff sample leads to recession.

"We are approaching a turning point in the global economy, " says Ken Rogoff, a professor of economics at Harvard.

Ken Rogoff, the IMF's former chief economist, says Mr Strauss-Kahn's plan seems "dubious" .

Mr Rogoff maintains that at some point political pressures would have required a big firm to go bust.

On average, Rogoff says public debt rises to 86 percent of gross domestic product (GDP) three years after a financial crisis.

These numbers are not ideal guides to the future, as Mr Rogoff readily acknowledged.

Defaults have been common in the past, as Carmen Reinhart and Ken Rogoff showed in their book, "This Time is Different" .

The Federal Reserve, said Mr Rogoff, thinks the world will end in fire.

This is the conclusion I draw from the paper by Professors Reinhart and Rogoff.

Yet Europe thinks these kinds of defaults are avoidable and Rogoff isn't buying it.

Rogoff Says China Crisis May Trigger Regional Slump Rogoff Says China Crisis May Trigger Regional Slump (Update1)