Paul Krugman

@paulkrugman ↗

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Last Checked April 20, 2021

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Wed Mar 24 16:16:30 +0000 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

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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

My side argues that the multiplier on this big fiscal expansion will be relatively low, because it's not designed as stimulus; that's also what the Fed and private forecasters are in effect saying; and so overheating won't be large 4/ — PolitiTweet.org

Posted March 24, 2021