Typos Matter…

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Hat tip to Emily Holubowich for this one...
If you haven’t been following the debate in the economic community about the coding error in Rogoff and Reinhart’s research on austerity, you should. It’s the now infamous paper that provided the foundation for austerity measures (i.e., the Budget Control Act here at home) around the world. In turns out, a coding error in their excel spreadsheet skewed the results and when corrected, the findings are actually the opposite. It also turns out, their paper was never peer reviewed. Yes, seriously.

You can get caught up, and have a few laughs, by watching Colbert take on the issue here.

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