Paul Krugman

@paulkrugman ↗

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Last Checked Jan. 9, 2022

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Tue Nov 23 18:22:25 +0000 2021

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Paul Krugman @paulkrugman

Europe came in to this with lower inflation than we did — ECB was less successful at achieving a 2% target. This baseline effect accounts for part of the difference 3/ — PolitiTweet.org

Posted Nov. 23, 2021

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Paul Krugman @paulkrugman

What the data actually show is that the US, which has done more fiscal stimulus than Europe, also has higher inflation. More careful people than Rattner have cited this as evidence that fiscal did it. But with only 2 data points, need to observe that other things are going on 2/ — PolitiTweet.org

Posted Nov. 23, 2021

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Paul Krugman @paulkrugman

The BIS estimates that bottleneck effects have added more to US than euro area inflation. Not clear why; some arguments that the prepandemic US economy was run with more extreme cost-cutting and smaller margins 4/ — PolitiTweet.org

Posted Nov. 23, 2021