Paul Krugman

@paulkrugman ↗

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Last Checked Dec. 11, 2021

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Tue Oct 26 19:27:38 +0000 2021

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Paul Krugman @paulkrugman

So in a zero-rate environment, velocity and similar concepts just don't help you understand what's happening. If anything, they create confusion by suggesting that the size of the monetary base matters under conditions where it doesn't 14/ — PolitiTweet.org

Posted Oct. 26, 2021

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Paul Krugman @paulkrugman

Again, in an arithmetic sense the money multiplier has declined, but that's not a helpful way to describe what's going on, which is instead that the gears have simply been disengaged 13/ — PolitiTweet.org

Posted Oct. 26, 2021

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Paul Krugman @paulkrugman

Again, I went through all this in 1998 (and James Tobin could have told you most of it decades earlier) 15/ https://t.co/ZEILV7tmbT — PolitiTweet.org

Posted Oct. 26, 2021