For years, deficit hawks pointed to the research of Harvard economists Carmen Reinhart and Ken Rogoff as proof that a 90 percent debt-to-GDP ratio spelled doom for a country’s economy. Then along came a graduate student at the University of Massachusetts Amherst who proved that they had their facts — and their math — wrong. In a series of posts, Roosevelt Institute Fellow Mike Konczal and guest-bloggers from UMass Amherst explore the newly revealed flaws in Reinhart-Rogoff and what it means for the future of the austerity debate.
Arindrajit Dube, Reinhart/Rogoff and Growth in a Time Before Debt
Mike Konczal, Reinhart-Rogoff a Week Later: Why Does This Matter?
Fiscal cliff image via Shutterstock.com