The Asian Banker

Are Reinhart and Rogoff’s coding errors a mistake too far?
The accuracy of Carmen Reinhart and Kenneth Rogoff’s “Growth in a Time of Debt” research paper has been called into question, as the austerity policies backed by their findings become a hotly debated topic.

May 10, 2013 | Wendy Weng

When news broke that two Harvard economists made crucial Excel errors in their influential research paper, one could be forgiven for asking, “Seriously?” Sadly, the answer is yes. A new study by Thomas Herndon, Michael Ash and Robert Pollin at University of Massachusetts, Amherst, accused Carmen Reinhart and Kenneth Rogoff, co-authors of “This Time is Different: Eight Centuries of Financial Folly”, of spreadsheet coding errors, selective exclusion of available data and unconventional weighting of summary statistics in their paper “Growth in a Time of Debt” published in May 2010. There…

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Categories: Capital & Strategic Issues, Risk and Regulation
Keywords: Carmen Reinhart, Kenneth Rogoff, Thomas Herndon, Michael Ash, Robert Pollin
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