Paul Krugman

@paulkrugman ↗

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Last Checked Nov. 21, 2022

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Sun Dec 27 17:05:54 +0000 2020

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Paul Krugman @paulkrugman

And everything we've seen over the past 20 years says that the short-run Phillips curve is pretty flat — that is, low unemployment pushes inflation up very slowly. So the inflation risks if the economy runs somewhat hot for a year are small 7/ — PolitiTweet.org

Posted Dec. 27, 2020 Hibernated

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Paul Krugman @paulkrugman

Increasing the checks from $600 to 2K would be a fiscal stimulus of <2% of GDP — and a fairly low-multiplier stimulus, bc many will save their checks. So yes, it might give an already high-employment economy extra fuel, but not that much 6/ — PolitiTweet.org

Posted Dec. 27, 2020 Hibernated

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Paul Krugman @paulkrugman

Wait, there's more. While I'm optimistic for the 2nd half of 2021, there's good reason to believe that the economy was suffering from persistent weakness of demand pre-pandemic. It's called secular stagnation, an idea pushed by ... Larry Summers. 8/ — PolitiTweet.org

Posted Dec. 27, 2020