‘Growth in a Time of Debt’ as an example of the logical-positivist science
Mariusz Maziarz ()
Additional contact information
Mariusz Maziarz: Wroclaw University of Economics (Wroclaw, Poland)
The Journal of Philosophical Economics, 2017, vol. 10, issue 2, 47-64
The paper addresses the question whether the nowinfamous 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.
Keywords: Reinhart-Rogoff; logical positivism; methodology; causality; economics (search for similar items in EconPapers)
JEL-codes: B4 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bus:jphile:v:10:y:2017:i:2:n:2
Access Statistics for this article
The Journal of Philosophical Economics is currently edited by Valentin Cojanu
More articles in The Journal of Philosophical Economics from Bucharest Academy of Economic Studies, The Journal of Philosophical Economics Contact information at EDIRC.
Series data maintained by Valentin Cojanu ().