CFR Presents

Renewing America

Ideas and initiatives for rebuilding American economic strength.

Print Print Cite Cite
Style: MLA APA Chicago Close


Fiscal Revisionism

by Renewing America Staff
April 30, 2013


Following the controversy sparked by errors found in Harvard professors Carmen Reinhart and Ken Rogoff’s This Time is Different that has played a central role in supporting austerity policies in the debate over deficit reduction, CFR senior fellow Robert Kahn responds to the question of how the work’s revision changes the landscape for macroeconomic policy, if at all.

On his blog Macro and Markets, Kahn lays out five reasons why the controversy over Reinhart and Rogoff’s data likely will not result in any policy changes, though it will cause economists to take a good, hard look at what is known about debt sustainability.

Post a Comment

CFR seeks to foster civil and informed discussion of foreign policy issues. Opinions expressed on CFR blogs are solely those of the author or commenter, not of CFR, which takes no institutional positions. All comments must abide by CFR's guidelines and will be moderated prior to posting.

* Required