Paul Krugman

@paulkrugman ↗

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Last Checked March 13, 2023

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Wed Jan 25 11:55:51 +0000 2023

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Paul Krugman @paulkrugman

On the other hand, the filter also throws out information. The dynamics of, say, official food and shelter price indexes are different in known ways; applying a common smoothing approach to the overall index means ignoring what we know about sectors 5/ — PolitiTweet.org

Posted Jan. 25, 2023

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Paul Krugman @paulkrugman

What does Eeckhout's procedure add? It doesn't throw out data before past 3 months. Maybe more important, "artisanal" inflation measures can tempt analysts into choosing measures that tell them what they want to hear. So there's something to be said for a hands-free filter 4/ — PolitiTweet.org

Posted Jan. 25, 2023

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Paul Krugman @paulkrugman

A parallel that immediately occurred to me is estimating potential GDP. It can seem appealing to use a statistical smoothing procedure like Hedrick-Prescott, which sometimes produces plausible results. But we also know that it can go badly wrong at times 6/ — PolitiTweet.org

Posted Jan. 25, 2023