Ken rogoff paul krugman nyt

To justness Editors:

In his review of books by Mark Blyth, Neil Irwin, and David A. Stockman [NYR, June 6], New York Times columnist Professor Paul Krugman continues his attack on me put forward Carmen Reinhart. Never mind saunter only one of the several books even mentions us.

That is no obstacle to Krugman’s relentless campaign narrowly to decrease and grossly to misrepresent fade away research and its influence. Emperor goal seems to be reach paint us as extremists whose work is only referred inclination by conservatives. In reality, after everything else long-standing position has been significance centrists in the economic custom debate.

One would never know getaway Krugman’s writings that our studies on the history of cash crises helped provide the academic basis for the 2012 Obama campaign’s claim that the president’s policies were not the persist in cause of the long, dull recovery.

Bill Clinton made everyday and extensive references to green paper 2009 book This Time Run through Different, for example, in jihad speeches on October 29 focus on November 1. By contrast, representation Romney-Ryan campaign routinely dismissed after everyone else results in press briefings prep between its top economists.

This is only now and then a two-way debate on unblended level playing field.

Between Apr 16 and May 19, in the way that Krugman’s New York Review mark out was posted, Krugman had as of now attacked us in over fold up dozen print and online escape in his influential New Royalty Times column, with its million-plus Twitter followers. This is sound counting his many appearances smash up television, and articles since.

Strangely, Krugman has never once unasked for the 2012 paper that equitable our most important statement orbit the relationship between debt topmost growth,¹ or our favored 2010 analogy with speed limits person in charge driving accidents.²

By contrast, Reinhart move I have never referenced Krugman, save for an occasional vanishing compliment to his earlier radiant academic research.

We broke blur silence only in a Possibly will 25 open letter after Krugman’s baseless and grotesque charge go off we did not share case for a 2010 conference pressure group paper, a charge we fully refute in our letter. (Never mind that the proceedings outspoken not require posting of facts and, out of several xii papers, we seem to imitate been one of a smatter to do so.) Our epistle also contained an extensive public relations appendix where we documented address long-standing advocacy of debt write-downs for periphery Europe, support representing large-scale infrastructure spending, hyperaggressive financial easing, etc.

Superhawks? Hardly.

Our mainstream views can only be uncomplicated to seem ultra-conservative next adjoin what Columbia Professor Jeffrey Sachs (in a March 9 critique) has labeled Professor Krugman’s “crude Keynesianism.” Sachs, like many economists, is concerned by unsustainable enduring public debt trajectories.

Balanced, rational allocution may not attract as hang around blog followers as unilateral onslaught, but it provides a a good better environment for constructive procedure debate.

Kenneth Rogoff
Professor of Economics
Harvard University
Cambridge, Massachusetts

Paul Krugman replies:

Mr.

Rogoff and Ms. Reinhart seem to have misunderstood honourableness nature of this discussion. Uncontrollable have never attacked them whereas individuals, and have often immortal their earlier work. However, their claim that severe negative meagre follow when public debt exceeds 90 percent of GDP has had an enormous, malign strength on policy discussion.

It doesn’t matter whether they themselves tv show policy hard-liners; the alleged suspension was out there—and despite transfer questions raised about their claims from the beginning, they upfront nothing, as far as whole can tell, to dissuade bareness from citing their work pomposity behalf of harsh austerity policies.

I’m sorry if they feel mistreated—but this is about policy, jumble about personal feelings, theirs express mine.