Matthew C Klein, Columnist

Reinhart and Rogoff Were Right About New Zealand

Reinhart and Rogoff got it right on New Zealand.

April 30, 2013 at 9:10 PM UTC

Matthew C. Klein writes for Bloomberg View about the economy and financial markets. He previously wrote for the Economist magazine and its economics blog, Free Exchange. Before that, Klein was a research associate at the Council on Foreign Relations, where he spent more than two years studying the history of the Federal Reserve and the intellectual history of monetary economics for an upcoming book by Sebastian Mallaby. He also worked at Bridgewater Associates, where he studied the economies of Central and Eastern Europe and advised institutional investors on asset-liability management. Klein has a bachelor's degree in history from Yale University. Originally from Chicago, he lives in New York.

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Before Peter Jackson chose to film the "Lord of the Rings" and "Hobbit" films in his native land, New Zealand was mostly known as the small country next to Australia. Its main exports are milk and meat from pasture-raised sheep, cows and deer.

This hasn't prevented a few pastoral islands from playing an outsized role in the controversy surrounding Carmen Reinhart's and Kenneth Rogoff's research into the connection between government indebtedness and economic growth.