Paul Krugman

@paulkrugman ↗

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Last Checked Sept. 16, 2020

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Thu Aug 22 18:34:08 +0000 2019

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Paul Krugman @paulkrugman

In other words, this is what normal looks like in the 21st century. Great Moderation macroeconomics — central banks rule the business cycle, fiscal policy only as an emergency measure — isn't coming back. 4/ — PolitiTweet.org

Posted Aug. 22, 2019 Hibernated

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Paul Krugman @paulkrugman

Two further points. It seems to me that central bankers still talk and to some extent act as if this were a temporary post-crisis situation, and that we'll be able to "normalize" sometime in the near future. But we're coming up on the 11th anniversary of Lehman's fall! 3/ — PolitiTweet.org

Posted Aug. 22, 2019 Hibernated

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Paul Krugman @paulkrugman

Larry also mentions how the inflation of the 1970s led to a major rethinking of macro, and suggests that we should do the same. It seems to me that we should be asking hard questions about why that hasn't happened already 5/ — PolitiTweet.org

Posted Aug. 22, 2019 Hibernated