Best of #econtwitter - Week of November 2, 2025: good tweets
Deep Dives
Explore related topics with these Wikipedia articles, rewritten for enjoyable reading:
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Calvo (staggered) contracts
12 min read
The article references 'Calvo-Geerolf' and 'Calvo-Surprenant' in a New Keynesian discussion context. Calvo contracts are a foundational concept in New Keynesian macroeconomics for modeling price stickiness.
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Real interest rate
12 min read
The article explicitly discusses the distinction between real and nominal interest rates, calling real interest rates 'the dark matter of macro trends' - this Wikipedia article explains the concept and its economic significance.
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Olivier Blanchard
13 min read
Blanchard is directly mentioned in the NK discussion section. He is a highly influential macroeconomist and former IMF chief economist whose work on fiscal policy and interest rates is central to current macro debates.
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Public goods
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Good tweets
From the archives
NK discussion
For whatever reason this (joke) tweet prompted discussion:
^Blanchard, Reis, FairyCalvo-Geerolf, FairyCalvo-Surprenant. Also:
Charts
^the ZIRP meme makes you want to scoop your eyeballs out — real interest rates are what “matter”, not the nominal ones! — but the broader point that [real] interest rates are the dark matter of macro trends is right
^who’s got the composition adjustment
UK charts
and (responding to someone else):
^thread
^I have not #ReadTheCodebook so am not here to adjudicate only report
This is from a few weeks ahead, but I thought this was a very interesting possibility (see also Fernández-Villaverde, Ventura, and Yao 2025?)
Fin
This excerpt is provided for preview purposes. Full article content is available on the original publication.