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…..
Read more at http://www.cnbc.com/id/100721630
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