Epstein Secrets

r a bit of R&R The new paper, by Thomas Herndon, Michael Ash and Robert Pollin of the University of Massachusetts, Amherst, sought to replicate the Reinhart-Rogoff result for the post-war period. They reckon that mistakes in the analysis led Ms Reinhart and Mr. Rogoff to understate average growth at hig

gh debt levels. A coding error in their Excel spreadsheet sliced several countries out of the data set. Several critical years of post-war data from New Zealand were left out, thereby omitting a time in which both its debt level and growth rate were high. And the authors reckon the Reinhart-Rogoff method of

old of 90 percent of GDP. Above 90 percent, median growth rates fall by one percent, and average growth falls considerably more. We note that while Reinhart and Rogoff’s observations are based on ‘gross debt’ data, in the U.S., debt held by the public is closer to the European KP countries’ definition of

oS So | | | | | | | | | | | | | | $0 Korea Japan Greece UK lreland Belgium Turkey Czech Republic Mexico Poland Hungary Slovak Republic Portugal New Zealand OECD average Finland Iceland Sweden Australia Denmark Netherlands Germany France Austria Canada Switzerland Norway Luxembourg Note: OECD data adjust

old of 90 percent of GDP. Above 90 percent, median growth rates fall by one percent, and average growth falls considerably more. . We note that while Reinhart and Rogoff's observations are based on ‘gross debt’ data, in the U.S., debt held by the public is closer to the European countries’ definition of gov

Other OECD Countries Mathematics Ranking* Science Ranking* 2000 2009 2000 2009 i Japan S. Korea 1 Korea Finland 2 S. Korea Finland 2 Japan Japan 3 New Zealand Switzerland 3 Finland S. Korea 4 Finland Japan 4 UK New Zealand 5 Australia Canada 5 Canada Canada 6 Canada Netherlands 6 New Zealand Estonia 7 Switz