Comment of the Day: The University of Chicago and the Wall Street Journal Have Mammoth Quality Control Problems: "Some claim that extraordinary claims do not require extraordinary evidence...:
John Cochrane.... 'Brad Delong posted a response to my oped on growth in the Wall Street Journal. He took issue with my graph...'
What are the odds that:
- John Cochrane does not know that the data reject his maintained assumption that log GDP per capita is a linear function of log "Business Climate", as opposed to
- he knows very well that the data reject his log-log specification, but is pretending not to?
I put the odds as about 50-50 myself...