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April 18, 2013 01:22 pm PDT

Austerity economics only works if you make an Excel formula error

A new paper called Does High Public Debt Consistently Stifle Economic Growth? A Critique of Reinhart and Rogoff by Thomas Herndon, Michael Ash, and Robert Pollin from UMass Amherst tries and fails to replicate the classic work on austerity, Carmen Reinhart and Kenneth Rogoff's 2010 Growth in a Time of Debt. Reinhart-Rogoff is the main [...]



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