Is a “soft landing” possible?

In this new working paper with Anton Cheremukhin we contribute to the debate by bringing to the table a new theoretical argument that says that it is not only possible but reasonable in the current context of the labor market: 🧵(1/8) We show that if there are two different matching processes, one for unemployed workers and another one for job-to-job transitions, then implications for the Beveridge curve are potentially very different (because job-to-job transitions don’t affect unemployment). (2/8)

Do you know where the name “Bluetooth” (for the wireless technology) came from? I didn’t until a few days ago.

Harald Gormsson was the king of Denmark from 958 to 986. He was known for having united the different Danish tribes into a single kingdom. 🧵(1/4) During his time, he was better known as Harald “Bluetooth,” because legend has it, his teeth were pretty blue (according to some, because he used to eat a lot of blueberries 🤷🏼‍♀️).

In 1997 when the wireless technology came along, Jim Kardach of Intel, (2/4)

This is so beautiful and true:

“You only have to be real.
And speak from the heart.
And know that you have the right to see how you see, and think how you think, and feel what you feel, and desire what you desire.

... (1/4) You don’t have to be a success in the eyes of the world and you don’t have to be an expert on living.

You only have to offer what you offer,
breathe how you breathe, make mistakes and screw up
and learn to love your stumbling and say the wrong thing

... (2/4)

For the guys who don’t quite understand why #OilPrices went negative, I ran into this explanation that might help clarify things:

Imagine the following... you pay $500 today and commit to receiving an escort at your house in fifteen days, (1/4) because your girlfriend will then be traveling...

Unfortunately, quarantine came and your girlfriend will be home for the next 3 months...

Like all girlfriends from all over the world...

You do not want this woman to show up at your house at all (2/4)

#COVID is global. The problem doesn't end with China, US, and Europe. It has to be stoped EVERYWHERE, including poor and Emerging countries!

Poor countries have no resources.

Emerging markets lack resources, PLUS many are at a crossroads policywise for a couple reasons(1/11) So there are two questions:

1. How do we cover the increase in the demand for liquidity in both poor and EM?

2. What is the best monetary policy response when on the one hand you need to provide liquidity but on the other you might be facing inflationary pressures? (2/11)