Wednesday, May 8, 2013

Harvard's Reinhart and Rogoff Publish Formal Correction

From the Financial Times: Harvard economists Carmen Reinhart and Kenneth Rogoff have published an errata to their infamous 2010 paper on public debt and growth, acknowledging further errors in the figures, but leaving their basic conclusion unchanged.

The release of the formal correction is the latest move in an academic spat with unusually weighty consequences for public policy. The original paper was widely cited as an argument for fiscal austerity in 2010 and the fight over their figures has become a proxy for broader battles about deficits…..

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