How important are Reinhart and Rogoff’s errors?

In spite of much ado about inaccurate calculations in Reinhart and Rogoff’s influentialGrowth in a Time of Debt’ (e.g. ‘European austerity programmes based on an excel error?’), Matthew Klein at Bloomberg argues that…

When it comes to policymaking, this news changes very little: the Reinhart-Rogoff paper was always a flimsy justification for fiscal austerity.

More here.

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