Scary Stats or Not?
Posted in Macroeconomics on May 2nd, 2010
In a recent paper, Barro et al find that the probability of a country suffering a “consumption disaster” is about 1.7% per year. That sounds like an awfully scary number to me. For example, that means that over the course of a decade, there is about a 15% chance of having a disaster, and over […]
