Paul Krugman

@paulkrugman ↗

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Last Checked March 19, 2021

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Fri Feb 19 20:41:18 +0000 2021

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Paul Krugman @paulkrugman

First, where are we now (or rather where were we at the end of 2020)? We were about 4.5% below where we would have been if normal growth had continued from 2019 Q4. But I'm in the camp that says that even in late 2019 we were somewhat below capacity 2/ — PolitiTweet.org

Posted Feb. 19, 2021

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Paul Krugman @paulkrugman

Let me do a brief thread that's both wonky and hand-waving about the numbers, and why I don't believe that we're facing drastic overheating despite a big relief package 1/ https://t.co/NGH8OfJsgt — PolitiTweet.org

This is the sensible version of the inflation concerns. I'm on the low end for multipliers, and would also argue th… https://t.co/5Q892tZtFV

Posted Feb. 19, 2021

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Paul Krugman @paulkrugman

Goldman puts the "output gap" (slightly problematic concept in a pandemic, but OK for this purpose) at ~6% in late 2020. They also predict 7% growth over the course of this year, with the Biden package. 3/ — PolitiTweet.org

Posted Feb. 19, 2021