response to this blog 3 – www.savvyessaywriters.net
response to this blog 3 – www.savvyessaywriters.net
Hi guys! So I found this article pertaining to a Spreadsheet error committed by Kenneth Rogoff and Carmen Reinhart, both former workers of the International Monetary Fund. Essentially through research they conducted, they used a spreadsheet to to draw a conclusion that was was used in the “Influential 2010 economics paper: that public debt of more than 90% of GDP slows down growth.†Consequently, their work was later cited by the IMF and the UK Treasury. Rogoff and Reinhart simply left out a few rows out of an equation and they failed to look over their work. Once the error was found, they concluded that the corrections were signifiicant and Reinserts and Rogoff’s reputations were ruined. If the IMF and the UK Treasury cited Reinhart’s and Rogoff’s work, it is are both highly respectable individuals in the practice. Thus it goes to show how something so minuscule can literally tarnish the integrity of individuals and corporations. In addition, it also depicts how even the most reputable and popular people/ corporations overlook spreadsheets and generate error even though it is something that should be stressed more.
Reference: Inman, P., & Arthur, C. (2013, April 18). The error that could subvert George Osborne’s austerity programme. Retrieved March 16, 2018, from https://www.theguardian.com/politics/2013/apr/18/u…
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