Major Criticism Levied Against Reinhardt and Rogoff
Big news reported in the Financial Times by Adam Posen. An effort by Herndon, Ash and Pollin to replicate Rogoff and Reinhart’s analysis finds a major drop off in growth after Debt to GDP levels surpass 90% is found to rely on “coding errors, selective exclusion of available data, and unconventional weighting of summary statistics.” This [...]