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1 Joanne  Mon, Apr 22, 2013 5:30:32am

If only facts mattered. None on the right will ever hear of this. And if they do, it will be completely dismissed with the wave of the hand. Come elite, runny-nosed college kid? Inconceivable!

2 Dr. Matt  Mon, Apr 22, 2013 5:40:24am

FYI, Retraction Watch has an entry on this today and includes a retort by Reinhart and Rogoff.

3 Romantic Heretic  Mon, Apr 22, 2013 7:23:47am

From what I’ve been reading it seems to me that Reinhart and Rogoff set out to prove that debt destroyed growth and therefore austerity! I suspect that once they came up with the results they wanted they stopped working.

4 Dr. Matt  Mon, Apr 22, 2013 7:53:33am

re: #3 Romantic Heretic

From what I’ve been reading it seems to me that Reinhart and Rogoff set out to prove that debt destroyed growth and therefore austerity! I suspect that once they came up with the results they wanted they stopped working.

The fact that they resorted to using Excel for their “analysis” and did not verify their results using a formal statistical software package is quite pathetic and embarrassing.

5 Walking Spanish Down the Hall  Mon, Apr 22, 2013 11:37:43am

re: #4 Dr. Matt

The fact that they resorted to using Excel for their “analysis” and did not verify their results using a formal statistical software package is quite pathetic and embarrassing.

An S language clone like ‘R’ or Matlab is what should have been used.

6 Howl  Mon, Apr 22, 2013 11:46:22am

re: #4 Dr. Matt

I’m more surprised their paper even got published. But I guess being at Harvard really helps.

7 aagcobb  Mon, Apr 22, 2013 12:26:20pm

And even if their numbers had been accurate, they had no evidence that it wasn’t slow growth creating high debt rather than the other way around. IOW, tens of millions around the world are suffering for absolutely no good reason at all.

8 majii  Mon, Apr 22, 2013 5:03:57pm

They should have known that their work would be peer-reviewed and any flaws in it would be exposed. I noticed that Reinhart and Rogoff have a long history with RW organizations and wealthy individuals who are more than willing to fund their work, even if it is junk. They don’t seem to want real validation and confirmation of their policy positions but anything they can disseminate which makes their position appear to be valid. That Paul Ryan cited their study in his austerity-based budget destroys any imagined credibility he had as being a “budget guru,” imo. Although Reinhart and Rogoff responded to the criticism, nothing can change the fact that they have now been revealed as sloppy researchers, or that their work is fit only for lining birdcages.


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