In spite of much ado about inaccurate calculations in Reinhart and Rogoff’s influential ‘Growth 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.