Visitors Now:
Total Visits:
Total Stories:
Profile image
By Institute for New Economic Thinking
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

INET's Rob Johnson and Tom Ferguson on Debt, Growth, and Austerity

Thursday, April 18, 2013 13:25
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Long before the recent controversy, INET Executive Director Rob Johnson and INET Director of Research Projects Tom Ferguson produced a paper titled “A World Upside Down?: Deficit Fantasies in the Great Recession,” which tackled both the Reinhart and Rogoff research and the Alesina paper on so-called expansionary contraction.

Johnson and Ferguson show that the RR data from the “Growth in a Time of Debt” paper excludes Britain's industrial revolution, where Britain had Debt/GDP ratios of over 200% and still maintained high growth rates.

Figure 1 (reproduced below) shows the graph for the British data, which contradicts RR's conclusions in “Growth in a Time of Debt.” 

The full paper from Johnson and Ferugson is attached below.

Attachment Size
Johnson and Ferguson: A World Upside Down? Deficit Fantasies in the Great Recession 83.66 KB


Source:

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.