Paul Krugman

@paulkrugman ↗

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Last Checked Oct. 30, 2022

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Wed Oct 12 12:16:22 +0000 2022

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Paul Krugman @paulkrugman

Second, there's the argument that we need an extended period of unemployment well above the NAIRU (bad term, but never mind for now) to tame inflation, as in the 1980s. But I thought we were agreed that this was because in 1980 inflation was entrenched in expectations 6/ — PolitiTweet.org

Posted Oct. 12, 2022

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Paul Krugman @paulkrugman

We know that the strong dollar will take a while to hit trade flows; mortgage rate rises are clearly having a big effect on housing, but construction employment has yet to decline. Surely much of the impact of the tightening so far lies in the future? 5/ — PolitiTweet.org

Posted Oct. 12, 2022

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Paul Krugman @paulkrugman

These days all available evidence says that inflation expectations are still anchored, which means that analogies with the Volcker disinflation are all wrong, talk about "sacrifice ratios" etc misplaced. Unless the hardliners have a different model? If so, what is it? 7/ — PolitiTweet.org

Posted Oct. 12, 2022