.@greg_ip (4) Confidence in the durability of the “Great Moderation”, and the consequent belief that we did not need to worry about what
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@greg_ip (5) might happen in what@ojblanchard1 calls “dark corners” was, in retrospect—and some of us thought in prospect—very wrong. It1 retweet 5 likes -
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@greg_ip (6) was, I think, a major element in what led the economics department to put itself in a position where it got itself schlonged3 retweets 9 likes -
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@JHWeissmann@delong@greg_ip yeah, how much of this is b/c New Zealand went with 2%?1 retweet 1 like -
@JHWeissmann@delong@greg_ip and as@Neil_Irwin shows, not like NZ govt had a super rigorous method for 2 percent http://www.nytimes.com/2014/12/21/upshot/of-kiwis-and-currencies-how-a-2-inflation-target-became-global-economic-gospel.html … -
@nick_bunker@delong@JHWeissmann@greg_ip@Neil_Irwin NZ showed that 1 is too low. EMs seem happy with 3 or 4 but not more. --> 3% ?1 retweet 0 likes -
@delong @GagnonMacro @nick_bunker @JHWeissmann @greg_ip @Neil_Irwin In 2008, Rogoff said 6% for 2 years wd be useful http://www.project-syndicate.org/commentary/inflation-is-now-the-lesser-evil …
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J. Bradford DeLong
Jordan Weissmann
Nick Bunker
Joseph Gagnon
Jan Zilinsky