#econtwitter — Public Fediverse posts

Surrogacy (on each side of the Atlantic) #EconTwitter #controversialmarkets #europe #repugnance #surrogacy
http://marketdesigner.blogspot.com/2026/09/surrogacy-on-each-side-of-atlantic.html

Ross Gittins expands on my argument against #NAIRU #auspol #econtwitter https://www.smh.com.au/business/the-economy/what-s-kept-us-from-full-employment-is-a-bad-idea-that-won-t-die-20230924-p5e74p.html

I've been making this point a lot recently, thinking it was original, but @delong posted it more than a year ago. The accelerationist model of inflation from which the NAIRU is derived works only for the 1970s.

Earlier inflations in the 1950s, and the current #inflation don't fit the model at all well, in either US or Australia.

Pre-NAIRU Keynesian understanding of the Phillips curve saw strong aggregate demand as driving both lower unemployment and higher inflation.
In #NAIRU model, transmission mechanism is from (low) unemployment to wages to prices.

https://open.substack.com/pub/braddelong/p/hoisted-from-e-archives-six-episodes?r=254ji5&utm_campaign=post&utm_medium=email

#econtwitter

Appointment of Bullock as RBA Governor reaffirms #Labor's commitment to #NAIRU model, inlcuding need for unemployment above NAIRU to keep inflation down.
Labor has abandoned Full Employment, or redefined it out of existence. #econtwitter

But #RMITFactlab declined to list Albanese's commitment to a Full Employment Summit and White Paper as a promise, let alone assess whether it has been broken.

We have a new paper in Ecological Economics! We investigate drivers of home country bias in preferences for #NaturePreservation in transnational protected areas. Happy to have worked with this great team of environmental economists. #EconTwitter https://authors.elsevier.com/c/1gkDV3Hb~0aQyf