reinhart rogoff austerity
Having a public spat with your colleagues and former classmates over the best way to fix the global economy can be “very
In a post at Quartz, University of Michigan economics professor Miles Kimball and University of Michigan undergraduate student Yichuan Wang write that they have crunched Reinhart and Rogoff's data and found "not even a shred of evidence" that high debt levels lead to slower economic growth.
The Harvard economists have argued that mistakes and omissions in their influential research on debt and economic growth
The story of the Reinhart-Rogoff error tells us a great deal about how the elites use economists and the prestige of the economics profession in order to impose their will on the public.
Others believe that even after re-analysis the data support the view that deficit and debt burden reduction is important
To contact the writers of this article: Justin Wolfers at firstname.lastname@example.org and Betsey Stevenson at email@example.com. (Betsey
They claim that their views on austerity have never changed, but the record tells a different story. They're still trying
"The argument that high ratios of government debt-to-GDP cause low growth remains plagued by misconceptions, at least for
Many of these same austerity fans are also believers in the idea of an efficient market. For some reason, they're not believing
Reinhart and Rogoff and their paper are part of the problem and if they want to do the world a favor they should try to become part of the solution. Unfortunately, that's not the tack they take in this morning's New York Times.