like eyeballing fitting a trendline to a period ending right before any downturn in the series would produce a massive and permanent "output gap"
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do i believe those are "real" possibilities had we avoided crises forever. I mean probably not does any monetary policy seem likely to have been able to close those gaps. seems like no "true monetary policy has never been tried" you got me there
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Replying to @AlexGodofsky @eigenrobot
get back to ngdpp trend and we'll find out how much of the real gap is permanent
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Replying to @eigenrobot @AlexGodofsky
if Alan tried to sell me snake oil I'd probably buy it tbh
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Replying to @sgodofsk @AlexGodofsky
i went to minnesota. disrespect for the central bank was instilled in me at a young age. working there did not weaken this prior
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oh no robot does this mean you were a dsge guy
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even worse. a microeconomist
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nah micro strong, that rules obvi
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