Paul Krugman

@paulkrugman ↗

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Last Checked Oct. 19, 2022

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Tue Oct 04 20:15:35 +0000 2022

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Paul Krugman @paulkrugman

In that case, as Blanchard/Domash/Summers argue, recent data suggest a substantial worsening from pre pandemic tradeoffs. Here's the historical Beveridge curve, truncated to exclude the intense lockdown period 5/ https://t.co/Jz4c0SwMjb — PolitiTweet.org

Posted Oct. 4, 2022

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Paul Krugman @paulkrugman

There is, however, an argument that the economy is much more overheated than you would conclude just from the unemployment rate. Some economists arguing that the best measure isn't unemployment but the ratio of vacancies to unemployment, which is very high. 4/ — PolitiTweet.org

Posted Oct. 4, 2022

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Paul Krugman @paulkrugman

The red line is the approximate relationship since we more or less emerged from lockdown — eyeball econometrics, as I said. The dotted green line is what it would take to restore 2019 vacancies/unemployment ratio — apparently around 5 percent unemployment, which is grim 6/ — PolitiTweet.org

Posted Oct. 4, 2022