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Its fascinating that part of the problem in the Reinhart and Rogoff paper comes down to an Excel formula error http://nymag.com/daily/intelligencer/2013/04/grad-student-wh...



One columnist I read said something like "it will be interesting to see what historians make of the fact that a global economic policy was driven in part by an error in an Excel spreadsheet".


It's rare that we get such a clean natural experiment like this in economics; maybe future economists will thank R&R for cleverly introducing this negative exogenous policy shock (sarcasm).


Austerity was a big thing in Europe, and they mostly came to that decision before R+R's paper came out in 2010.




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