## Code and data are open-source under the BSD 2-clause license (http://www.tldrlegal.com/l/BSD2) ## Michael Ash, Thomas Herndon, and Robert Pollin, April-May 2013 Archive: HAP-RR-GITD-code-2013-05-17.zip Length Date Time Name --------- ---------- ----- ---- 468992 2013-05-17 09:43 RR.xls 74052 2013-05-17 09:48 RR-country-csv.zip 4247 2013-05-04 23:01 concordance-RR-HAP.csv 20963 2013-05-17 10:59 RR.R 598380 2013-05-17 11:00 RR-basic.dta 264786 2013-05-17 11:00 RR-processed.dta 678090 2013-05-17 11:00 RR-200-processed.dta 55660 2013-05-17 11:00 RR-keycolumns.xlsx 93206 2013-05-17 11:00 RR.Rout 5342 2013-04-29 06:23 RR200/RR200.R 13832 2013-04-29 06:23 RR200/RR200.Rout --------- ------- 2277550 11 files RR.xls is our edit of Public_debt-ratios_advanced.xlsx, the Reinhart and Rogoff "working spreadsheet" provided by Carmen Reinhart on 4 April 2013. RR.xls includes only primitive non-derived data from the RR working spreadsheet, i.e., only cells that contain values and not formulas in the RR working spreadsheet. In the RR working spreadsheet there is variation by country and year in which columns hold values and which columns hold formulas. Columns for which at least some values were directly presented include: one or more measures of public debt (Debt, Debt1, Debt2, Debtalt); one or more measures of nominal GDP or GNI (GDP, GDPalt, GDP1, GDP2, GDP2alt, GDP3, GNI); one or more measures of real GDP (RGDP, RGDP1, RGDP2); one or more deflators (GDPI, GDPI1, GDPI2); real GDP growth (dRGDP); public debt/GDP ratio (debtgdp); and inflation (Infl). We deleted a sheet that is labelled Hungary but is in fact a duplicate sheet for France in the RR working spreadsheet and consolidate into one sheet the two sheets that contain Finland data in the RR working spreadsheet. RR-country-csv.zip is an archive which contains all of the individual country sheets from RR.xls saved as comma-separated value (csv) files. concordance-RR-HAP.csv is a concordance between variable names in the RR working spreadsheet and the HAP data and code. RR.R is an R script file that reads the individual country csv files and executes all of the analysis described in Herndon, Ash, and Pollin "Does High Public Debt Consistently Stifle Economic Growth? A Critique of Reinhart and Rogoff". RR-basic.dta is a Stata data file that presents all of the primitive country data in a country-year dataset. The variables are one or more measures of public debt (Debt, Debt1, Debt2, Debtalt); one or more measures of nominal GDP or GNI (GDP, GDPalt, GDP1, GDP2, GDP2alt, GDP3, GNI); one or more measures of real GDP (RGDP, RGDP1, RGDP2); one or more deflators (GDPI, GDPI1, GDPI2); real GDP growth (dRGDP); public debt/GDP ratio (debtgdp); and inflation (Infl). RR-processed.dta is a Stata data file that presents all of the primitive data and data derived from formulas in the RR working spreadsheet in a country-year dataset limited to 1946-2009. Variables are as in RR-basic.dta with the addition of lagged values for the real GDP series and for dRGDP and debtgdp values filled in by formula according to the formulas in the RR working spreadsheet. RR-200-processed.dta is a Stata data file that presents all of the primitive data and data derived from formulas in the RR working spreadsheet in a country-year dataset for the full c. 200 span. Variables are as in RR-basic.dta with the addition of lagged values for the real GDP series and for dRGDP and debtgdp values filled in by formula according to the formulas in the RR working spreadsheet. These data were used in RR-keycolumns.xlsx is a spreadsheet containing the following columns: country; year; public debt/GDP ratio; public debt/GDP category; and real GDP growth. The columns are calculated from the data and formulas in the Reinhart and Rogoff working spreadsheet and can be used, e.g., with pivot tables, to replicate the results in RR 2010 and HAP. RR.Rout contains the output from a run of RR.R RR200.R is the code used for some parts of the Supplemental Technical Critique of Reinhart and Rogoff's "Growth in a Time of Debt" referenced in "Debt and Growth: A Response to Reinhart and Rogoff" in The New York Times, April 29, 2013. RR200.Rout contains the output from a run of RR200.R