Paul Krugman

@paulkrugman ↗

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Last Checked June 5, 2021

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Fri May 07 14:31:51 +0000 2021

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Paul Krugman @paulkrugman

What we eventually learned was that it was a data artifact: hedonic indices for some imports were overdoing the quality adjustment. Actual import price behavior wasn't especially weird 2/ — PolitiTweet.org

Posted May 7, 2021

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Paul Krugman @paulkrugman

A reminiscence that may be relevant to the jobs number: Back in the late 1980s there was a big puzzle about US import prices. The dollar had fallen sharply, but import prices hadn't gone up. There were many, many papers trying to explain why 1/ — PolitiTweet.org

Posted May 7, 2021

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Paul Krugman @paulkrugman

Moral of the story: when you get a data point that's at odds with other information, it might — might! — be a data issue, not a real economic issue. The April whiff might be real, it might be problems with seasonal adjustment or something else. Wait and see 3/ — PolitiTweet.org

Posted May 7, 2021