Probably, the most discussed issue in the current macroeconomics
field is on the paper “Growth in a Time of Debt” written by Reinhart and
Rogoff. With solid evidence, counterattack (Does high public debt consistentlystifle economic growth? A critique of Reinhart and Rogoff) by three young
economists (Herndon, Ash and Pollin) from University of Massachusetts, Amherst
on the data used for the paper and methodology adopted for that brought a
myriad number of macroeconomists to join in the debate as well with strong
philosophical backings. Recently, Reinhart and Rogoff were trying to answer back through
writing in the newspaper (see below). You may find to read those worthwhile.
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