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Jonathan Haskel Profile picture
Jonathan Haskel
@haskelecon
Professor of Economics, Imperial College Business School. External member, @BankofEngland Monetary Policy Committee. Views own, RTs not endorsements.
Jan 13, 2023 • 13 tweets • 5 min read
Inflation as a distributional conflict – a thread 🧵 using UK data, with @JoshMartin_econ.

Inspired by @ojblanchard1, @paulkrugman, @david_glasner, @delong and others, here is some arithmetic (with apologies for some equations!) #EconTwitter
1/13 I’m using UK National Accounts data and identities to decompose UK inflation.

Identity 1: CPI inflation equals GDP inflation plus the wedge between CPI and GDP inflation.
2/13 Image