Tim Duy — More Reinhart and Rogoff

I first saw the Mike Konczal's post. More excellent commentary came from Tyler Cowen, Dean Baker, Jared Berstein, and FT Alphaville. Joe Weisenthal reminded us on Twitter that he was never an RR fan. While some like Cowen argue that the case for austerity did not rest on Reinhart and Rogoff themselves, Tim Fernholtz has an impressive list of policymakers who use the paper as what they see as clear and convincing evidence for austerity now.

For their part Reinhart and Rogoff responded, concluding that the new results are very similar to their own....

One thing's for sure - this isn't the end of this debate. Back to Coy:

"This isn’t an obscure academic debate. As Krugman points out, the Reinhart-Rogoff research is one of the two main threads in the pro-austerity argument, the other being Harvard’s Alberto Alesina on the macroeconomic effects of austerity. With so much at stake, the argument that caught fire in one afternoon is likely to keep burning for months."

There will definitely be more to come.

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More Reinhart and Rogoff
Tim Duy