cluebucket + 2013 + carmen_reinhart   1

Grad Student Who Shook Global Austerity Movement -- Daily Intelligencer
"'I clicked on cell L51, and saw that they had only averaged rows 30 through 44, instead of rows 30 through 49.'

"What Herndon had discovered was that by making a sloppy computing error, Reinhart and Rogoff had forgotten to include a critical piece of data about countries with high debt-to-GDP ratios that would have affected their overall calculations. They had also excluded data from Canada, New Zealand, and Australia — all countries that experienced solid growth during periods of high debt and would thus undercut their thesis that high debt forestalls growth."
2013  2010s  thomas_herndon  nymag  kevin_roose  economics  economist  takedown  austerity  government  budget  arindrajit_dube  carmen_reinhart  kenneth_rogoff  correction  harvard  student  deficit  politics  amherst  policy 
april 2013 by cluebucket

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