Best of #econtwitter - Week of June 21, 2020
Welcome to this week’s edition of the Best of Econtwitter. Recommendations always welcome over email or on Twitter @just_economics.
Lots of new paper threads this week :)
I want to share a new(ish) paper with on prison labor and police that was accepted for presentation at the DAE SI and took over 2 years of archival data collection:researchgate.net/publication/34… But before the results, some background on why we wrote this paper: 1/n
New working paper with on how home buyer taxes abroad increased demand for U.S. housing. Using this foreign demand shock for local housing, we provide new housing supply elasticities for the largest 100 US CBSA’s. 1/7 papers.nber.org/tmp/42929-w273…
Thanks to everyone who attended this Virtual Finance Workshop! Link is below for anyone who still wants to watch. For everyone else, here's the TL;DR version. Punchline: shifts in the division of output from labor to profits is main driver of stock market rise since 1989. 1/
Great talk by Sydney Ludvigson today. Decline in US labor share accounts for 40% US of stock market outperformance over past 3 decades. Touches on lots of interesting questions in macro and finance. https://t.co/9UhqVImu8T work with @ProfGreenwald
Hanno Lustig @HannoLustig
Inspired by recent critiques on the empirical validity of prospect theory, I'm excited to share new paper explicitly testing dynamic predictions of PT. Punchline: Using field data + pre-registered experiments, find very strong support for PT. (Thread) papers.ssrn.com/sol3/papers.cf…
Can consumption taxes reduce inequality? Great summary of our work with Pierre Bachas and Anders Jensen looking at this using micro data from 31 developing countries. Spoiler: Yes they can! (1/n)
from 's growth class, I know he is obsessed with a huge question: where do the fat tails in fat-tailed productivity models come from? In this paper, the answer is: from taking a lot (combinatorially many) draws from thin-tailed outcomes of random recipes 2/
For those who are still interested in non-COVID-related economics, new draft of "Trade, Unemployment, and Monetary Policy," with Matteo Cacciatore: faculty.washington.edu/ghiro/Cacciato… 1/n
, Caroline Weber, and my paper on cross border spillovers with Marijuana is officially fully published . You can find the full paper here sciencedirect.com/science/articl…. In this paper we find when marijuana was legalized in OR, sales fell in WA.
My newest paper has been published online by ! As always, all opinions are my own and not necessarily those of the Treasury Department. authors.elsevier.com/a/1bILVAlw9itiq 1/13
(1/6) My paper on "Reliable Real-time Output Gap Estimates Based on a Modified Hamilton Filter" with Josefine Quast has been accepted by the Journal of Business & Economic Statistics. Resulting output gap estimates are hardly revised and are economically meaningful.
So glad to see in print Macro my work with Tasso Adamopoulos on land reforms and agricultural productivity. Below my main takeaways. 1/7
(1/N) Collecting learning-by-doing wisdom: What ideas/tools you used that you think were helpful in improving online teaching experience? Let's mainly focus on PhD courses for now, though many lessons apply to undergrad/MBA. I start by two of my own:
(2/N) 1-Break-out sessions & active learning: 1 or 2 times per class, find a question that verifies students' learning, or is the next thing you wanna teach. Divide students into break-out rooms of ~5 each & let them discuss/discover. When come back after ~10min, 1 person from...
(4/N) 2-Guest speakers: Invite guests for 20-60min talks to talk about their papers (or their specific area) with two goals: a) learning from the source is fun and valuable, b) covering cutting-edge research, c) refreshing for students, d) guests typically like it. What else?