Paul Krugman

@paulkrugman ↗

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Last Checked Feb. 18, 2023

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Sun Jan 01 18:36:19 +0000 2023

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Paul Krugman @paulkrugman

It's precisely because inflation isn't immaculate that we worry about things like supply shocks and wage-price spirals — and why estimating the cost of disinflation is so hard 6/ — PolitiTweet.org

Posted Jan. 1, 2023

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Paul Krugman @paulkrugman

The late John Williamson mocked the contrary view as the "doctrine of immaculate transfer". There's a similar doctrine of immaculate inflation, which has nominal demand driving inflation without somehow affecting the incentives of workers and firms 5/ — PolitiTweet.org

Posted Jan. 1, 2023

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Paul Krugman @paulkrugman

I'm cross-posting everything on Mastodon. So far it's a very inadequate substitute for this site, mainly because not enough people there. But getting better by the day; it will be time-consuming and awkward to replace Twitter, but we will do as needs Musk — PolitiTweet.org

It is exactly that type of discussion, involving both a few decently known economists, but also many others (yes, t… https://t.co/HJpqU7sEWw

Posted Jan. 1, 2023