Krugman: Reinhart-Rogoff zombie
Is Reinhart-Rogoff itself a zombie? Not quite — it could still be true, although I don’t think so. But the idea that the 90 percent threshold is a definite result, established beyond question, is very much a zombie idea, one that has been killed repeatedly but just won’t stay down.
So, the Reinhart-Rogoff correlation is “not quite” a zombie (even though he disagrees with it) and the “zombie idea” is that the correlation is established as causative fact. So now, Krugman is admitting that zombie ideas could be true and depend on level of skepticism. How many correlations does it take to get to the center of a tootsie roll pop?
Note again connection of Italy and Japan.