Monday, May 27, 2013

Excel Spreadsheet Error: Lessons from the Reinhart-Rogoff Controversy

Dean Baker explains why the Reinhart-Rogoff spreadsheet error was important for the debt debate controversy-it allowed for real debate:
"At this point everyone who follows economic policy debates knows about the famous Reinhart-Rogoff spreadsheet error uncovered by a University of Massachusetts graduate student. When the error is corrected, there is nothing resembling the growth falloff cliff associated with a 90 percent debt-to-GDP ratio that had been the main takeaway from the initial paper..." (see rest here).

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Inequality and Stagnation by Policy Design

By Thomas Palley (guest blogger) This paper argues the mainstream economics profession is threatened by theories of the financial crisis a...