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Paul Krugman

@paulkrugman ↗

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Last Checked April 3, 2023

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Wed Feb 01 13:30:09 +0000 2023

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Paul Krugman @paulkrugman

As in the previous picture, what had looked like a flat Phillips curve pre-2020 suddenly seemed very steep, with core inflation (by any measure) shooting up rapidly as the economy overheated 5/ — PolitiTweet.org

Posted Feb. 1, 2023

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Paul Krugman @paulkrugman

Here u is unemployment and u* is some version of full employment — with expectations seemingly stable, I don't think we can talk about the NAIRU. And I use the ratio because in a pandemic-disrupted environment full employment may move around 4/ — PolitiTweet.org

Posted Feb. 1, 2023

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Paul Krugman @paulkrugman

The view Larry Summers and other have been propounding is that despite the speed with which inflation shot up, disinflation would be a slow, grinding process comparable to what happened in the 1980s, with what appeared to be a high "sacrifice ratio" 6/ https://t.co/rMl6KeK4Ep — PolitiTweet.org

Posted Feb. 1, 2023