Paul Krugman

@paulkrugman ↗

Deleted No

Hibernated No

Last Checked July 20, 2022

Created

Tue Jun 21 18:44:29 +0000 2022

Likes

158

Retweets

Source

Twitter Web App

View Raw Data

JSON Data

View on Twitter

Likely Available

Paul Krugman @paulkrugman

The ur-reference here is the 1968 Phelps paper on inflation — actually a better model although much worse writing than the famous Milton Friedman analysis — about how expectations could get "built in" 3/ https://t.co/Im9M7k3gQm — PolitiTweet.org

Posted June 21, 2022

Preceded By

Paul Krugman @paulkrugman

The real concern is self-fulfilling inflation — inflation not driven by demand exceeding supply, but simply everyone raising wages and prices because they expect others to be raising wages and prices 2/ — PolitiTweet.org

Posted June 21, 2022

Followed By

Paul Krugman @paulkrugman

It's a real slog to read, but Phelps argued that with staggered wage and price setting, persistent inflation would become self-perpetuating. Here's the key passage 4/ https://t.co/PPQrZ0uop9 — PolitiTweet.org

Posted June 21, 2022