On Mar 23, 2008, at 12:04 AM, Michael Pollak wrote:
> One question. You say the Swedes spent 2% of their GDP fixing their
> banking problem (which would be roughly equal to $300B for the US
> today).
> Krugman, saying he was citing Reinert and Rogoff, put the figure at
> 6%:
>
> http://krugman.blogs.nytimes.com/2008/03/17/forbidden-swedes/
I was wondering about that. I got the 2% figure from Peter Englund's paper (linked to in the piece). I'd read the R&R paper too, but decided to go with the smaller number. I didn't try to reconcile the two for the "quickie" version.
Doug