The pitch was enticing. At a time when the Standard & Poor’s 500 Index had suffered a decline of 41 percent in the previous three years, Morgan Stanley was offering its clients the possibility of some relief.
The University of Massachusetts , which enrolls more than 58,000 students on its five campuses, is selling $438 million in Build America Bonds through its Building Authority as taxable issuance reached an 18-month high.
Harvard University economists Carmen Reinhart and Kenneth Rogoff acknowledged today that they had made a mistake in a 2010 paper that has been used to justify fiscal consolidation in the U.S. and Europe, while arguing that the error didn’t change the basic findings of their research.
A paper by Harvard University economists Carmen Reinhart and Kenneth Rogoff that has been cited by Republican lawmakers to justify eliminating the budget deficit contains “serious errors,” according to a study by a group of University of Massachusetts academics.