Paul Krugman

@paulkrugman ↗

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Last Checked April 20, 2021

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Wed Mar 24 16:14:16 +0000 2021

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Paul Krugman @paulkrugman

This time we really are all Keynesians now — or at any rate nobody is listening to the people who insisted austerity is expansionary, all unemployment is structural, etc. Summers, Blanchard, Yellen and yours truly are working in pretty much the same framework 2/ — PolitiTweet.org

Posted March 24, 2021

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Paul Krugman @paulkrugman

So actually I think Noah, unusually, has this mostly wrong. These macro wars are very different from those of 2011; the debates are about numbers, not principles — basically because the big conceptual issues were settled when one side won 1/ https://t.co/PufV1KJaVY — PolitiTweet.org

Posted March 24, 2021

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Paul Krugman @paulkrugman

And that framework is IS-LM-ish macro, where deficit spending is expansionary at a given interest rate. The question is how expansionary. And that's a subject for dispute mainly because we are in uncharted policy territory 3/ — PolitiTweet.org

Posted March 24, 2021