Barro and Bianchi disagree. Data transformations are important. nber.org/system/files/w
Quote
kasey
@kaseyklimes
we’re at severe risk of taking the wrong lesson away from this whole inflation debacle
Post
Conversation
![David Watson 🥑](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="96" height="96"><rect fill-opacity="0"/></svg>)
Post your reply
You get Japan using price controls on 50% of their CPI items and subsidizing price differences with energy.
Use a plot like the top in a Undergrad stats class would likely result in a failing grade
How to avoid data breaches with a web3 data wallet like DataMask
I'm sorry but their govt spending variable makes no sense. Seems completely orthogonal to whether public spending during and after the pandemic contributed to inflation
Sounds like it's leading up to more nonsense that tax cuts pay for themselves. Has Robert Barro ever been right about anything?
Discover more
Sourced from across X
Stephanie's timely warning in June 2020 in the NYT. "As a proponent of what’s called MMT .. I am intimately familiar with how public finance actually works, I am not worried about the recent multitrillion-dollar surge in spending."
Quote
Stephanie Kelton
@StephanieKelton
Replying to @alexmd2 and @elonmusk
30 years of MMT: The government can't run out of money, but it can run out of things to buy. Inflation is the relevant constraint on spending.
COVID lockdowns/shortages: You ran out of things to buy.
MMT: Told you so.
Nooo, he can't save Argentina with MA level material! It's not fair!
Pisses me off when I see grad students posting on here on a Sunday.
That right there tells me you’re not working hard enough.
Excited to share a new paper w/ Matthias Mertens:
From Labor to Intermediates: Firm Growth, Input Substitution, and Monopsony
We document, dissect, understand, draw consequences of a new stylized fact about firm growth:
the shift from labor to intermediate inputs.
Summary:
Quote
NBER
@nberpubs
A new stylized fact about firm growth: The shift from labor to intermediate inputs reflects high substitution elasticity and monopsony and pushes down the labor share, from Matthias Mertens and @Schoefer_B nber.org/papers/w33172