Paul Krugman

@paulkrugman ↗

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Last Checked Jan. 28, 2023

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Sat Dec 10 17:19:16 +0000 2022

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Paul Krugman @paulkrugman

Here's what happened to a wage Phillips curve using ECI wages and salaries. The line is the fitted slope 2000-2020Q1; the red dots 2021-2022 (skipping the height of the pandemic disruption) 4/ https://t.co/lnsZWi8Crj — PolitiTweet.org

Posted Dec. 10, 2022

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Paul Krugman @paulkrugman

But it feels more and more like Ptolemaic astronomy, relying on a growing number of epicycles to deal with the anomalies. Two examples of what I mean: 3/ — PolitiTweet.org

Posted Dec. 10, 2022

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Paul Krugman @paulkrugman

The deviations could reflect a surge in expected inflation — but there's no evidence of that happening. Or it could reflect a mysterious deterioration in the Beveridge curve. As I said, epicycles 5/ — PolitiTweet.org

Posted Dec. 10, 2022