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Politics : Formerly About Advanced Micro Devices

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To: TimF who wrote (712314)	4/29/2013 9:56:58 AM
From: Alighieri	Read Replies (1) of 1571175

True, and when that error is corrected they still have slower growth then countries with less debt. This error is needed to get the results they published, and it would go a long way to explaining why it has been impossible for others to replicate these results. If this error turns out to be an actual mistake Reinhart-Rogoff made, well, all I can hope is that future historians note that one of the core empirical points providing the intellectual foundation for the global move to austerity in the early 2010s was based on someone accidentally not updating a row formula in Excel. So what do Herndon-Ash-Pollin conclude? They find "the average real GDP growth rate for countries carrying a public debt-to-GDP ratio of over 90 percent is actually 2.2 percent, not -0.1 percent as [Reinhart-Rogoff claim]." Going further into the data, they are unable to find a breakpoint where growth falls quickly and significantly. Read more: nextnewdeal.net

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