Best of #econtwitter - Week of July 12, 2020
Welcome to this week’s edition of the Best of Econtwitter. Recommendations always welcome over email or on Twitter @just_economics.
📢 Thread on new working paper: "Achieving Scale Collectively" with Streamed tomorrow at NBER SI Growth: nber.org/si2020livestre… And for the few that still read papers available at: dropbox.com/s/ffn46prbhcwz… 1/N
Modern IO ---> Macro! Monopolistic competition reigns supreme in macro, trade, growth etc., but what about more realistic dynamic oligopolistic scenarios? Olivier Wang (NYU Stern) will present our paper at NBER SI session. Link in next tweet. Short thread below. 1/n
We just released an updated version of our working paper, "Class Rank and Long-Run Outcomes" nber.org/papers/w27468 Much of the paper is similar but this new version represents a substantial revision of the previous version
👉 New paper w/ Leila Agha (), David Chan, Daniel Singer, and Diana Zhu: doctors who depart from guideline recommendations cause many preventable strokes. …d1a-wp-offload-media.s3.amazonaws.com/faculty/wp-con…
, , and I are presenting a paper entitled "Immigration and Entrepreneurship in the US" Monday morning (7/13) at 10:45am in the Entrepreneurship meetings of the NBER Summer Institute. [1/8]
New paper I am excited to share today. 1/ tl;dr: - simple new value of information measure - can be estimated at high frequency - shows dramatic spikes in value of information at start of COVID-19 and the (old) financial crisis Paper here: ssrn.com/abstract=36451…
Excited to present our paper with Choongryul Yang on "Dynamic Rational Inattention and the Phillips Curve" this afternoon at NBER SI Behavioral/Macro group at 4pm EST. Youtube link: youtube.com/channel/UC79EL… Any comments would be much appreciated! Brief summary of what we do: 1/N
🥳 our paper "Intertemporal Labor Supply Substitution? Evidence from the Swiss Income Tax Holidays" with Michael Siegenthaler & Emmanuel Saez is forthcoming in the American Economic Review Revised version here 👇 nber.org/papers/w24634
In our paper, we find several coding errors which overturn a seminal paper in the "Chinese competition caused a huge increase in innovation" lit by Bloom et al (BDvR). From the beginning, I knew the BDvR paper had problems. Why?
I'm so excited to finally see my JMP in print! As all JMPs, this paper has a special place in my heart, and I am so happy it found a home at . 🎉🍾🎊 mitpressjournals.org/doi/full/10.11… Also, its topic is of special interest these days. So here is a super quick thread. 1/N
Accepted in Econometrica, Redistribution through Markets (with awesome coauthors, and Piotr Dworczak). Link: stanford.io/3gJQxbT We have multiple takes on how to present this, with no optimal one. Here's one take, based on Econ 101: (1/10)
Happy to share a new paper of mine on vote-buying and political accountability, recently published in joint with Foarta, Pande and Ralston! (1/7)
1/6 With Damien Puy, we make public our quarterly dataset of macro & financial data since 1950. It covers Real GDP (37 countries), Credit (45), Consumer Prices (48), Stock Prices (26), and Bond yields (18). We use it for our paper on global cycles.
Hi - I wrote some programs for supervised ML in Stata, and I'd like to plug them! Pylearn allows Stata users to estimate random forests, gradient boosting/adaptive boosting, decision trees, and feed-forward neural nets. Read more: github.com/mdroste/stata-… (1/N)
Free Research Data!!! We just updated our paper "Kicking the can down the road: Government interventions in the European Banking Sector" - We show that forbearance during the 2007/2008 crisis had a causal effect on banks risk and the economy during the sovereign debt crisis 1/n
Very excited to team up with Stephen Turban and Megan Gorges (incoming PhD students) on a new wiki to provide guidance for those applying to PhD programs in business schools. businessphdwiki.com Check it out! CC: 1/
Happy to announce the new and improved Social Science Prediction Platform is now open with three initial studies to forecast! Follow for updates as more studies are added in the coming weeks. I've blogged about the launch here: buff.ly/2W2rwAK
I have been working on a new package that is finally in beta and ready to go. It's a package designed to make it easy to work with data - downloading, reading it in, normalizing, processing! Check it out at
Good discussion in the replies
Since my last take on pre-docs hit a nerve let me re-up with two more: 1) Because pre-docs are exclusively empirical this will turn economics even more away from theory (and I don't think that's good). 2) Large pre-doc programs will reinforce rather than reduce hierarchies.
^Launched a large discussion. For a contrasting take, see here.
Many economists repeat (without thinking?) that the burden of the proof is on showing a market failure. Perhaps makes sense in some politico-economy perspective, to avoid lobbies. But scientifically, I cannot make sense of it from a Bayesian perspective.