Best of #econtwitter - Week of February 20, 2022 [3/3]
www.bestofecontwitter.com
Best of #econtwitter - Week of February 20, 2022 [3/3]
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 three of three. Part one is here and part two is here.
Paper summary threads
1/ Is more privacy always better in digital advertising ecosystems?
Evidence is rapidly accumulating, suggesting that stricter privacy controls exacerbate inequality between large and small businesses.
Quick thread on recent papers that highlight this asymmetry
Change in a country’s leadership:
🔹improves economic performance
🔹increases the human development index
🔹reduces corruption
Causal evidence from close national elections: vincentpons.org/electoral-turn… by @benjaminmarx, @VinPons, and @vincent_rollet
Some below the fold findings in the paper:
1: Re-election rates for incumbents have plummeted, particularly in the developed world
2: RDD analysis of a large sample of close elections find null results for left vs right wins on macro indicators, but illiberalism hurts growth
Matt Grossmann @MattGrossmann
🚨 New Working Paper 🚨 #EconTwitter
Excited to share our new NBER working paper, "How Tight are U.S. Labor Markets?" joint with @LHSummers
Q: How tight are labor markets?
Short answer: Extraordinarily tight.
A 🧵 on our findings (1/n):
(WP here: nber.org/system/files/w…)
I am beyond thrilled to have our paper One Money, Many Markets, with @gc422 and Samuel Mann, published in the JEEA February issue.
How heterogenous is the transmission of monetary policy shocks across EA countries? 🧵
#EconTwitter @JEEA_News @EEANews
academic.oup.com/jeea/article-a…
People's economic expectations differ substantially. Why? We explore whether they disagree about *how the economy works*.
A 🧵 on "Subjective Models of the Macroeconomy".
Now forthcoming in @RevEconStudies 🥳 w/ Carlo Pizzinelli, @cp_roth, @JoWohlfart.
restud.com/paper/subjecti…
^“majority of people think that higher interest rates lead to higher inflation, not lower”
@kmdonovan3, Lu, and Schoellman (2022)'s new📜 "Labor Market Dynamics and Development" provides systematic evidence on how labor market dynamics vary with econ development, based on a new set of harmonized microdata. Fascinating!
🔗 bit.ly/3uUXLEm
👇 mini-🧵
Super interesting paper. Negative relationships between ethnoracial diversity & public goods are usually interpreted as Alesina-Glaeser style fractionalization. But case of Afro-Brazilians strategically moving to avoid the racist Brazilian state shows demography can be endogenous
Alexander Kustov @akoustov
Tea consumption saved lives in 18th century England.
@FranciscaAntman
#tea #water #clean #cleanwater #humanity #economy #econtwitter #science #research #history #health
^when do we get the “Best of #econtok” newsletter
More: rent control; shipping costs; buy now pay later; startup preferred vs common shares; work-study program; how workers and firms match; valuing water quality; teen pregnancy prevention eval; admin databases
Interesting discussions
Interesting by @BrianCAlbrecht but I don't think it's even true in micro - a lot of matching/market design results on stability are GE ideas applied "in partial equilibrium" -- i.e. in one market being designed
1/
There's been lots of progress on diff-in-diff in the econometrics lit in the last 5 years. Lots to keep up with. Here are the resources I've found most accessible. 🧵👇
I was wondering about this the other day. “Private sector offers” is plausible reason for high econ salaries, but I haven’t seen any evidence. Plus I’m skeptical it could move the median wage so much. I see some alternative hypotheses.
Ben Golub @ben_golub
@UpdatedPriors @cblatts What has changed recently is tech jobs are attracting top candidates, directly competing for the best students on the market. That's a real shift in the data in the last 10 years. Anecdotally, it wasn't that long ago Amazon was poaching Census staff, not MIT grads.
@judy_chevalier @J2dubyas I've watched HR staff evolve from 'I don't understand why economists here are paid so much to 'I don't understand how we manage to hire any economists at all given their outside options' in the course of one junior job market cycle.
^🤔