Carmen Reinhart and Kenneth Rogoff, in their book "This Time is Different", argued that past financial crises have been followed by long periods of sluggish growth.

卡门瑞哈特及肯尼斯·罗格夫在其新作《这次有所不同》中提到，之前，经济危机过后，经济都长时间增长滞缓。

youdao

As Rogoff and Reinhart have demonstrated, the crisis usually also leads to a dramatic increase in the budget deficit and a rise in the debt to GDP ratio.

像罗戈夫和莱因哈特描述的那样，危机也常常导致预算赤字的显著增长和债务负担率的增加。

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That rationale was undermined by the work of Carmen Reinhart and Kenneth Rogoff, who showed how countries had defaulted on their debts on many occasions in the past.

这种逻辑被Carmen Reinhart和Kenneth Rogoff的研究成果削弱，他们的研究说明在过去许多情况下国家是怎样出现债务违约情况的。

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No matter how he tried, he just couldn't replicate Reinhart and Rogoff's results.

BBC: News

Last week, researchers who were given access to the original data and spreadsheet used by Reinhart and Rogoff announced they had discovered calculation errors.

FORBES: Narrow focus on debt and deficits distracts us from the primary problems

With the revelation of the spreadsheet errors, some supporters of big government were giddily proclaiming victory as if they had not already been discredited before Reinhart and Rogoff entered the scene.

FORBES: Narrow focus on debt and deficits distracts us from the primary problems