Daily Archives: April 23, 2013

The accuracy and value of modern macroeconomics

In 2012 two economists (Carmen Reinhart and Kenneth Rogoff) presented a study that claimed that economic growth slowed significantly when a nation’s government debt breached 90% of Gross Domestic Product. The study was widely quoted by politicians and other economists as an argument towards austerity (significant cuts in government spending). Very recently, a graduate student […]

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