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Reinhart-Rogoff turns out to contain errors

SaigyoujiSaigyouji
edited 2013-04-16 16:53:10 in Politics
But you never had any to begin with.

So yeah.


As a quick overview of this, Reinhart-Rogoff is one of the core studies underpinning pro-austerity arguments. But there are problems. Problems like missing Excel data, which is an error required to actually come up with the results that were published. There is also exclusion of certain areas of data, like Australia (1946-1950). Long story short, economic policy got screwed up.

Comments

  • glennmagusharveyglennmagusharvey
    Creature - Florida Dragon Turtle Human

    I thought the (so-called) "Austrian" economics people didn't trust studies?  Or something like that.

  • lrdgcklrdgck
    "you duck spawn, refined creature, you try to be cynical, yokel, but all that comes out of it is that you're a dunce!!!!! you duck plug!"

    From what I've seen, a couple of Austrian proponents on the 'Net, their attitude can get pretty self-defeating.

  • JHMJHM
    edited 2013-04-16 19:26:26
    Here, There, Everywhere

    So...


    "This study proves that studies are useless!"

  • PonicalicaPonicalica
    edited 2013-04-17 05:29:21
    (void)

    @glennmagusharvey I think Reinhart and Rogoff are more neoclassical, which means they take the social science equivalent of the spherical cow way too seriously.


    Austrians, on the other hand, take a Hitchhiker's Guide approach to economics: if reality contradicts Austrian economics, then reality is obviously wrong.

  • lrdgcklrdgck
    "you duck spawn, refined creature, you try to be cynical, yokel, but all that comes out of it is that you're a dunce!!!!! you duck plug!"

    That example I spoke of was pretty much that, the guy explicitly said he isn't going to regard research. That said, from what I know of him, Hayek was pretty far from this kind of fappery.

  • MyrmidonMyrmidon

    But don't you get it, Austrian economics is about how economics SHOULD work, not how it DOES work.



    It's like you don't read Moldbug.

  • glennmagusharveyglennmagusharvey
    Creature - Florida Dragon Turtle Human

    I don't read Moldbug, but otherwise I get the joke.

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