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  • strict warning: Non-static method view::load() should not be called statically in /home/asymptot/public_html/modules/views/views.module on line 879.
  • strict warning: Declaration of views_handler_argument::init() should be compatible with views_handler::init(&$view, $options) in /home/asymptot/public_html/modules/views/handlers/views_handler_argument.inc on line 745.
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  • strict warning: Declaration of views_handler_filter::options_submit() should be compatible with views_handler::options_submit($form, &$form_state) in /home/asymptot/public_html/modules/views/handlers/views_handler_filter.inc on line 589.
  • strict warning: Declaration of views_handler_filter_node_status::operator_form() should be compatible with views_handler_filter::operator_form(&$form, &$form_state) in /home/asymptot/public_html/modules/views/modules/node/views_handler_filter_node_status.inc on line 14.
  • strict warning: Non-static method view::load() should not be called statically in /home/asymptot/public_html/modules/views/views.module on line 879.
  • strict warning: Declaration of views_plugin_style_default::options() should be compatible with views_object::options() in /home/asymptot/public_html/modules/views/plugins/views_plugin_style_default.inc on line 25.
  • strict warning: Declaration of views_plugin_row::options_validate() should be compatible with views_plugin::options_validate(&$form, &$form_state) in /home/asymptot/public_html/modules/views/plugins/views_plugin_row.inc on line 135.
  • strict warning: Declaration of views_plugin_row::options_submit() should be compatible with views_plugin::options_submit(&$form, &$form_state) in /home/asymptot/public_html/modules/views/plugins/views_plugin_row.inc on line 135.
  • strict warning: Non-static method view::load() should not be called statically in /home/asymptot/public_html/modules/views/views.module on line 879.

Reinhart, Rogoff... and Herndon

Thomas Herndon, the UMass Amherst PHD student who discovered an Excel coding flaw in the famous paper "Growth in a Time of Debt" by economists Kenneth Rogoff and Carmen Reinhart, which had claimed that when a country's debt surpasses 90% of GDP, then growth slows precipitously, was the man of the week.

EU commissioner Olli Rehn and influential US Republican politician Paul Ryan have both quoted a 90% debt-to-GDP limit to support their austerity strategies.

A Developing issue in Macro-Econometric Modeling: Stress Testing

There is a developing issue in Macro-Econometric Modeling right now. It has been burning for about a year; we at asymptotix have some practical engagement with it which is reflected in our essay called 'Crowding Out 2'. That essay and its related comments simply document our experience at the client coal-face where we naively found ourselves addressing in a commercial engagement a great intellectual challenge of our time, probably way ahead of the academic curve. At a much more global and higher media oriented level this issue is documented in what is known as the Krugman / Ferguson debate or put more crudely (cf Niall Ferguson) the Keynesians versus the Monetarists (or more strictly the Classicists or Neo-Classicists).

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