Best of #econtwitter - Week of August 15, 2021 [1/2]
Welcome readers old and new to this week’s edition of Best of Econtwitter. Thanks to those sharing suggestions, over email or on Twitter @just_economics.
This is part one of two, this week; part two is here.
Paper summary threads
![Twitter avatar for @MPaallysaho](https://substackcdn.com/image/twitter_name/w_96/MPaallysaho.jpg)
Can changing labor market returns help explain observed trends in cognitive skills in developed countries? Our new @nberpubs WP, with @santiagohermo @SeimSeim and Jesse Shapiro, argues they can.
#EconTwitter @SU_Economics @Brown_Economics
nber.org/papers/w29135
A short thread:
![](https://substackcdn.com/image/fetch/w_600,h_314,c_fill,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fea858814-228b-422e-b30d-302962a96552_800x450.jpeg)
![Twitter avatar for @MPaallysaho](https://substackcdn.com/image/twitter_name/w_96/MPaallysaho.jpg)
We start by documenting the Flynn effect in our data (left fig, 1st row) and noting that returns to both logical reasoning and vocabulary knowledge skills have *fallen* over time (2nd row). Moreover, the *relative* return to vocabulary knowledge fell by 40 log points. 7/10
![Image](https://substackcdn.com/image/fetch/w_600,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fpbs.substack.com%2Fmedia%2FE8WFPS8XEBA1JKK.jpg)
![Image](https://substackcdn.com/image/fetch/w_600,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fpbs.substack.com%2Fmedia%2FE8WFPTGXEAQxJgZ.jpg)
![Twitter avatar for @paulnovosad](https://substackcdn.com/image/twitter_name/w_96/paulnovosad.jpg)
What a graph! High-income parents teach their children independence, low-income parents teach obedience.
Source: WVS via Acemoglu
nber.org/papers/w29125#…
Theory: parents teach traits that are optimal for the expected work evironment of their kids— limiting upward mobility.
![Image](https://substackcdn.com/image/fetch/w_600,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fpbs.substack.com%2Fmedia%2FE8l_kxRWEAQDR84.jpg)
![Image](https://substackcdn.com/image/fetch/w_600,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fpbs.substack.com%2Fmedia%2FE8l_nZ3X0AA3WbR.jpg)
![Twitter avatar for @JPubEcon](https://substackcdn.com/image/twitter_name/w_96/JPubEcon.jpg)
College students assigned to a 7:30am intro course are 10% less likely to major in that subject. A similar effect is found for fatigue-inducing back-to-back courses.
Why? Attribution bias.
Students appear to misattribute their bad experience to the subject rather than fatigue
![Image](https://substackcdn.com/image/fetch/w_600,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fpbs.substack.com%2Fmedia%2FE8XxwPJXoAMMW1H.jpg)
![Image](https://substackcdn.com/image/fetch/w_600,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fpbs.substack.com%2Fmedia%2FE8XxwPwXEAop0zj.png)
![Twitter avatar for @gchodorowreich](https://substackcdn.com/image/twitter_name/w_96/gchodorowreich.jpg)
I have a new paper with Adam Guren and Tim McQuade on house prices: nber.org/papers/w29140. Not the recent COVID boom, but the 2000s cycle. Here is why we think there is more to say about this episode.
![](https://substackcdn.com/image/fetch/w_600,h_314,c_fill,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fb23067e8-da6c-4730-a7e7-43165c06d65d_800x450.jpeg)
^useful comments and discussion
![Twitter avatar for @xuyiqing](https://substackcdn.com/image/twitter_name/w_96/xuyiqing.jpg)
Happy to share a new working paper w/ @Apoorva__Lal @lockhartm @zu_gary: bit.ly/replicateiv We replicated >60 papers using IV strategies published in APSR, AJPS, and JOP and find troubling patterns of weaker IVs, wrong inference, and failure of exclusion restrictions.
![Image](https://substackcdn.com/image/fetch/w_600,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fpbs.substack.com%2Fmedia%2FE8yBRoUVkAI14eD.jpg)
![Twitter avatar for @calebwatney](https://substackcdn.com/image/twitter_name/w_96/calebwatney.jpg)
The paper includes the single best overview of the pollution literature I've seen, written with policymakers in mind.
Here's a handy breakdown of the best studies:
![Image](https://substackcdn.com/image/fetch/w_600,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fpbs.substack.com%2Fmedia%2FE8XR7WyX0Ag98zc.jpg)
![Twitter avatar for @ChrisSeveren](https://substackcdn.com/image/twitter_name/w_96/ChrisSeveren.jpg)
I’m happy to share that my JMP on 𝗟𝗔 𝗠𝗲𝘁𝗿𝗼 𝗥𝗮𝗶𝗹 finally has a conditional accept at @restatjournal. It only took 6 years and now I just have to submit the final version!
A 🧵 below on contributions to policy and methodology, link here:
cseveren.github.io/files/Severen_…
![Image](https://substackcdn.com/image/fetch/w_600,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fpbs.substack.com%2Fmedia%2FE8WrTBhXEAsJ2EA.jpg)
![Twitter avatar for @jonpcohen](https://substackcdn.com/image/twitter_name/w_96/jonpcohen.jpg)
[1/N] Gyourko and @jkrimmel's zoning tax JUE is a clear, creative, and overall great paper. It's awesome to have a quick graph when someone's skeptical about zoning mattering.
Some thoughts, and I'm curious to hear other people's ideas about the paper:
![Image](https://substackcdn.com/image/fetch/w_600,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fpbs.substack.com%2Fmedia%2FE82iYqpUcAEg3_B.jpg)
![Twitter avatar for @nberpubs](https://substackcdn.com/image/twitter_name/w_40/nberpubs.jpg)
NBER @nberpubs
![Twitter avatar for @ProfStefanNagel](https://substackcdn.com/image/twitter_name/w_96/ProfStefanNagel.jpg)
Paper "Asset Pricing with Fading Memory" with @DanielZYXu now forthcoming in the RFS 😀. Quick summary: (1/n)
![Twitter avatar for @RevOfFinStudies](https://substackcdn.com/image/twitter_name/w_40/RevOfFinStudies.jpg)
Review of Financial Studies @RevOfFinStudies
![Twitter avatar for @JohnHolbein1](https://substackcdn.com/image/twitter_name/w_96/JohnHolbein1.jpg)
You know those policies that some universities have that admit the top X% of each high school in the state?
They're really good for disadvantaged students.
They increase graduation rates and annual salaries of disadvantaged students *a lot*.
zacharybleemer.com/wp-content/upl…
![Image](https://substackcdn.com/image/fetch/w_600,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fpbs.substack.com%2Fmedia%2FE8nbZRRXsAUMWMq.png)
![Image](https://substackcdn.com/image/fetch/w_600,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fpbs.substack.com%2Fmedia%2FE8nbZwtWUAQFa1D.jpg)
Interesting discussions
![Twitter avatar for @cawley_john](https://substackcdn.com/image/twitter_name/w_96/cawley_john.jpg)
A new memo from our AEA ad hoc committee on the job market has been posted. Happily, there is continued evidence of a major rebound in the demand for PhD economists. Summary w/ graphs follows... 1/7
#EconTwitter #EconJobMarket @AEAInformation @JOE_listings @EconSpark @AEACSWEP
![Twitter avatar for @cawley_john](https://substackcdn.com/image/twitter_name/w_96/cawley_john.jpg)
As of 2021-07-30, the # of job openings on JOE for full-time academic jobs in the US is up 58.5% compared to same time in 2020 and is even up 25.6% compared to this time in 2019 (which was pre-COVID). #EconTwitter #EconJobMarket 2/7
![Image](https://substackcdn.com/image/fetch/w_600,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fpbs.substack.com%2Fmedia%2FE8b8eZtX0AM84e7.jpg)
^this is data on demand, but open question: data on supply
![Twitter avatar for @johnjhorton](https://substackcdn.com/image/twitter_name/w_96/johnjhorton.jpg)
Academics: Any advice on being PhD program coordinator? Marketing your program? Evaluating apps? Reaching group decisions? I'm interested in all of your tips & advice!
![Twitter avatar for @KyleLHandley](https://substackcdn.com/image/twitter_name/w_96/KyleLHandley.jpg)
@johnjhorton @jenniferdoleac Marketing: 1) tweet about your program
2) make sure webpage about program is up to date/accurate, prospective/admitted student really scour this stuff
3) check to make sure details on app are what you want (it took me several yrs to get GMAT off UM b-sch oriented app). 1/