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Paul Krugman
pkrugman.bsky.social
did:plc:vl7iw2awdpm72srjve3f4fj2
With an elasticity of 1, the estimate looks like this: t*14/(1+t) = 8 Work this through, and the tariff rate is 8/6 = 1.33, that is, 133 percent. With a higher elasticity, it would go higher, maybe to infinity 5/
2024-06-14T07:03:25.266Z