The Grad Student Who Took Down Reinhart And Rogoff Explains Why They're Fundamentally Wrong

Herndon's paper showed an Excel coding flaw was partly to blame for the result. After the paper came out, Reinhart and Rogoff admitted the error, but said that their core point remained valid. In this post, Herndon responds to their response, and says the core point does not remain sound, and that his work does not show that debt-to-GDP above a certain threshold makes a meaningful impact on growth

[okemos]

ラインハートとロゴフの論文の間違いを発見した院生自身による解説。R&Rは間違いを正しても元の主張は維持されると言っているが、この院生さんはそれは違う、さらに因果関係は低成長→負債増加だと言ってるね。