In 2010 Carmen Reinhart and Kenneth Rogoff published in American Economic Review: Papers & Proceedings 100 (May 2010): 573–578 a paper named "Growth in a Time of Debt" that had to play a central role as a theoretical justification for austerity measures taken in Europe.

Recently, after 3 years, it was proved that in the paper existed many mistakes, from arithmetic by using Excel to methodology mistakes. The results of the above article are still very painful for millions of people, see:

http://www.cepr.net/index.php/blogs/beat-the-press/how-much-unemployment-was-caused-by-reinhart-and-rogoffs-arithmetic-mistake

American Economic Review has an impact factor of 2.69 as ResearchGate reports.

The question is:

***Did American Economic Review really peer-review that paper or they "accepted as is" due to its famous authors?***

http://online.wsj.com/public/resources/documents/AER0413.pdf

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