Paul Krugman

Paul Krugman @paulkrugman

US growth has been higher, but that's basically demographics, not business cycle performance 4/ https://t.co/QmOL6zSveL — PolitiTweet.org

Paul Krugman @paulkrugman

Bur prime-age employment tells a different story: Europe never suffered as badly as we did, and is close to us now 3/ https://t.co/LCgeaEVpwG — PolitiTweet.org

Paul Krugman @paulkrugman

In particular, how does US performance compare with Europe? Standard measure says that we're doing considerably better 2/ https://t.co/NY2sHYcJUR — PolitiTweet.org

Paul Krugman @paulkrugman

Nice piece by @bencasselman on labor markets, and growing evidence that prime-age employment is a better indicator than the unemployment rate. But if so, we should also consider international implications 1/ https://t.co/DMJCx78XIw — PolitiTweet.org

Paul Krugman @paulkrugman

RT @CitizenCohn: I’m not sure critics of the DeLauro-Schakowsky “Medicare for America” bill grasp how much change it would unleash. I’m no… — PolitiTweet.org

Paul Krugman @paulkrugman

I'm not an MMT fan, but it's a whole lot better than the economic doctrines Republicans adhere to. And the way to deal with a theory you disagree with it is ... not to base policy on it. Rs, however, want to act as thought police. Scary 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

A Senate resolution condemning an economic theory they don't like. Wow. Next thing you know they'll try to use their political power to suppress scientific theories they don't like. Oh, wait 1/ https://t.co/dG9kQS3kdT — PolitiTweet.org

Paul Krugman @paulkrugman

It would be relatively easy to drastically reduce child poverty in America. And this will almost surely happen if Dems take the Senate and WH next year https://t.co/075d5Km0rC — PolitiTweet.org

Paul Krugman @paulkrugman

Would Biden repeat Obama's mistakes? Would Sanders make the perfect the enemy of the good? https://t.co/dkIV8aBDn4 — PolitiTweet.org

Paul Krugman @paulkrugman

And it's really telling that the GOP – not just Trump, but the whole party – prefers creatures like Moore to economists, even relatively conservative economists, who do pay attention to evidence 8/ — PolitiTweet.org

Paul Krugman @paulkrugman

Now, people like Joe Stiglitz, or Larry Summers, or, well, me do have clear political preferences, and deploy economic analysis on behalf of those preferences. But we listen to and respect the science. People like Moore don't 7/ — PolitiTweet.org

Paul Krugman @paulkrugman

Now, Nakamura's work often feels as if it lends support to a more or less Keynesian view of the world, but that's because the facts appear to have a Keynesian bias. There's no hint that she starts with an ideological agenda. As I said, she's doing science 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

Such price rigidity is central to the argument that monetary policy should focus on core inflation, which excludes volatile food and energy prices, rather than headline inflation – a concept Moore has said he finds incomprehensible 5/ https://t.co/1iMXZWocjv — PolitiTweet.org

Paul Krugman @paulkrugman

And Nakamura's work is directly relevant to key disputes in the field. Her most influential work involved producing new evidence on price rigidity, aka sticky prices – the fact that many prices stay constant for fairly long periods 4/ https://t.co/mMG9TupPYR — PolitiTweet.org

Paul Krugman @paulkrugman

But policy advocates are supposed to at least be aware of relevant scholarship. Anyone who seriously cares about macroeconomics has been following Nakamura's work with Jon Steinsson for years. Here's me a few years ago 3/ https://t.co/Hi1mRpGo8K — PolitiTweet.org

Paul Krugman @paulkrugman

Now, even if Moore weren't a charlatan and crank, they'd be in very different businesses. Nakamura is a scholar, not a policy advocate – what she does really is economics as a science, involving careful observation and testing of theory 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

A strange question, but with a point: Do you imagine that Stephen Moore has ever even heard of Emi Nakamura, the excellent choice for this year's Clark Medal in economics? 1/ https://t.co/lrLi3nnaCl — PolitiTweet.org

Paul Krugman @paulkrugman

RT @BruceBartlett: As happy as I am that Steve Moore will not be on the Fed, I'm sorry that he was knocked out mainly by stupid things he s… — PolitiTweet.org

Paul Krugman @paulkrugman

Not just in good standing: along with Kudlow their go-to guy — PolitiTweet.org

Paul Krugman @paulkrugman

RT @SethHanlon: Serious props to @sam_a_bell and @crampell, among others, for exposing Steve Moore as a thoroughgoing phony. Bullet dodged.… — PolitiTweet.org

Paul Krugman @paulkrugman

RT @daveweigel: What I’m wondering is how @paulkrugman convinced Trump to destroy Moore’s reputation by nominating him to the Fed. — PolitiTweet.org

Paul Krugman @paulkrugman

So again, think about the fact that the right's favorite economist doesn't even know what that's all about – and thinks that "hundreds" of Fed economists should be fired because they have the "wrong model" 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

Headline inflation gave false alarms in 2008 and again in 2011-12; it would have been disastrous if the Fed had responded to those false alarms by raising rates (the ECB did in fact do that in 2011, with nasty results) 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

And the Fed's view that core inflation is a much better guide to underlying inflation pressures than the headline number including commodity prices has been overwhelmingly validated. Compare headline inflation with core since 2005: 3/ https://t.co/selH6Fyo4R — PolitiTweet.org

Paul Krugman @paulkrugman

The logic behind the core measure is very clear and has been explained many times over the years. Here's my version. Happily, we never did slide into Japan-style deflation, but the argument stands 2/ https://t.co/1iMXZWocjv — PolitiTweet.org

Paul Krugman @paulkrugman

Moore isn't just a hack; he's stone-cold ignorant. If you do macroeconomics, you might say that you don't agree with the logic behind using core inflation. Having no idea why the Fed uses it is inexcusable 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

As my father used to say, "one of nature's natural noblemen" — PolitiTweet.org

Paul Krugman @paulkrugman

RT @mattyglesias: Republicans are lucky Moore said all this offensive stuff because it helps them evade the fact that a prominent right-win… — PolitiTweet.org

Paul Krugman @paulkrugman

RT @TopherSpiro: Why Bernie refuses to support immediate improvements to the lives of millions until Medicare for All can be phased in is b… — PolitiTweet.org

Paul Krugman @paulkrugman

RT @arindube: Congratulations to Emi Nakamura, who has probably done more than anyone else to bring the credibility revolution and the empi… — PolitiTweet.org