'Growth in a Time of Debt' as an example of the logical-positivist science
AbstractThe paper addresses the question whether the now-infamous piece of econometric research conducted by Reinhart and Rogoff (2010) that set the threshold hypothesis in the relation between public debt and economic growth was conducted in accordance with the neopositivist doctrine. The article consists of two parts. First, the epistemic advice given by logical positivism is reconstructed and operationalized. Second, the cliometric method employed by Reinhart and Rogoff (2010) is analyzed. The answer to the research question is affirmative. ‘Growth in a Time of Debt’ is a piece of logical-positivist science because (1) the research is data-based and aimed at confirming the results, (2) its authors are committed to the neopositivist theory-observation distinction, (3) its goal is describing an empirical generalization and the result’s interpretations suggest that (4) Reinhart and Rogoff (2010) understand causality in a reductionist way, as a constant conjunction.
|Journal series||The Journal of Philosophical Economics, ISSN 1843-2298, e-ISSN 1844-8208, (B 4 pkt)|
|Publication size in sheets||0.85|
|Keywords in English||Reinhart-Rogoff; logical positivism, methodology, causality, economics|
|Citation count*||2 (2020-07-12)|
* presented citation count is obtained through Internet information analysis and it is close to the number calculated by the Publish or Perish system.