Reinhart-Rogoff’s Lesson for Economists
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May 7 (Bloomberg) -- What lesson can economists draw fromthe ruckus over a flaw found in an influential study by twoHarvard University scholars? Our suggestion: Do a better job ofchecking one another’s work.
Empirical research has enjoyed an unaccustomed level ofpublic attention since April 16, when a group of researcherspublished a critique of work by the economists Carmen Reinhartand Kenneth Rogoff. The critique pointed out a spreadsheet error-- now famous thanks to the blogosphere and “The Colbert Report”-- in a 2010 study on the relationship between government debtand economic growth.