The Flawed Origins of Expansionary Austerity
As the case for austerity in a time of recession has weakened under the continuing onslaught of facts (most notably the recessions in Europe), advocates of fiscal stimulus have found the missteps of their opponents Carmen Reinhart, Ken Rogoff, and Niall Ferguson to be convenient weapons. But they are the wrong weapons.
https://prosyn.org/GouFXud
CAMBRIDGE – Several of my Harvard University colleagues have recently been casualties in the crossfire between fiscal “austerians” and fiscal stimulators. The economists Carmen Reinhart and Kenneth Rogoff have received an astounding amount of press attention since it was discovered that they made a spreadsheet error in a 2010 paper that examined the statistical relationship between debt and growth. They quickly conceded their error.