Paul Krugman

@paulkrugman ↗

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Last Checked May 11, 2021

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Tue Apr 07 13:51:44 +0000 2020

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Paul Krugman @paulkrugman

The key point is that locking down part of the economy *could* be expansionary/inflationary for the rest, bc people might switch demand over — u can't go to sports events, so you buy more booze. 2/ — PolitiTweet.org

Posted April 7, 2020 Hibernated

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Paul Krugman @paulkrugman

Wonkish, self-indulgent, and self-aggrandizing: I've been reading this paper by Guerrieri et al more closely (a) to make sure I understand how it works (b) to see if there's a way to do it simply. I think I've succeeded in (a) 1/ https://t.co/gbtEAQiVnU — PolitiTweet.org

Can the negative supply shock from this pandemic lead to a demand deficient recession? Yes. Together with the bril… https://t.co/xcvJcuHIfp

Posted April 7, 2020 Hibernated

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Paul Krugman @paulkrugman

But against this cutoff of some goods increases incentive to postpone consumption in general, plus lost incomes in affected sector lead to lower demand. So what we actually seem to see, which is deflationary overall impact, makes sense 3/ — PolitiTweet.org

Posted April 7, 2020 Hibernated