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Best of #econtwitter - Week of March 5, 2023: paper summaries

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Best of #econtwitter - Week of March 5, 2023: paper summaries

Mar 9, 2023
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Best of #econtwitter - Week of March 5, 2023: paper summaries

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Welcome readers old and new to this week’s edition of Best of Econtwitter. Please submit suggestions — very much including your own work! — over email or on Twitter @just_economics.

Late edition this week (sorry!) but a LOT of good stuff…

Idiosyncratic favorites

Twitter avatar for @amandaegeiser
Amanda Geiser @amandaegeiser
Does happiness increase with income or level off beyond some threshold? An adversarial collaboration of Killingsworth & Kahneman on the relationship between income and well-being, just out at PNAS: pnas.org/doi/10.1073/pn…
10:10 PM ∙ Mar 1, 2023
516Likes160Retweets

^key figure:

Twitter avatar for @RazaSN
Raza S @RazaSN
Important study reconciling research on co-linearity of ↑money~↑happiness If you are a generally unhappy person, money has diminishing returns for happiness (flattening effect) If you are a generally happy person, ↑money will continue to ↑happiness pnas.org/doi/10.1073/pn…
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3:11 AM ∙ Mar 2, 2023

^(some pushback eg here, here?)

Twitter avatar for @socampdi
Sergio Ocampo Díaz @socampdi
3/7 Distribution of self-employment (SE) and Earnings 1⃣SE high among lowest and highest earners 2⃣SE highest among lowest earners in developing countries (inverted for developed)
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7:54 PM ∙ Mar 2, 2023
Twitter avatar for @jonasjessen
Jonas Jessen @jonasjessen
🚨DP ALERT🚨 Do raises in potential benefit duration (PBD) cause higher aggregate unemployment? Economic theory: unclear🫤 For Poland we find: Yes✅ Unemployment increases, driven by directly affected. Inflows play a major role with @RobinJessen+3 iza.org/publications/d… 1/X 👇
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4:09 PM ∙ Mar 3, 2023
52Likes9Retweets
Twitter avatar for @ArmandDoma
Armand Domalewski @ArmandDoma
South Dakota implemented 24/7 sobriety program—alcohol abstinence orders with frequent alcohol testing (2x daily breathalyzers, monitoring bracelets) + swift, certain, and moderate sanctions for noncompliance (1 to 2 nights in jail)—reducing death rates by 50% over 5 year period
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11:24 PM ∙ Mar 1, 2023
421Likes34Retweets
Twitter avatar for @alvaroortiz1968
Alvaro Ortiz | BBVA Research & IE Business School @alvaroortiz1968
High-Frequency Transmission of Monetary Policy (MP): 1️⃣MP Shocks transmit at Short! & Long lags 2️⃣Larger Effects for Sales(but lagged) than Consumption 3️⃣More Sticky Employment(Frictions?) 👇shorturl.at/buwIR @R2Rsquared @NunoGalo @ECB_Research @BIS_org @CebraOrg @AMLEDS1
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5:18 PM ∙ Mar 2, 2023
1Like1Retweet

^“short and variable lags”

Twitter avatar for @VinPons
Vincent Pons @VinPons
@clpennec First, our main result (2/10):
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12:41 PM ∙ Mar 3, 2023
4Likes1Retweet

^“17% to 29% of voters make up their mind during the two months before the election”

Twitter avatar for @Devin_G_Pope
Devin Pope @Devin_G_Pope
What is the probability that that price offers were rejected by consumers? The graph below shows a discontinuous jump in rejected price offers at each dollar threshold.
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8:25 PM ∙ Mar 3, 2023
23Likes5Retweets
Twitter avatar for @flo_fruehhaber
Florian Frühhaber @flo_fruehhaber
Who's most hurt by contractionary monetary policy? In the latest JEP, @AlisdairMcKay and @ChristianKWolf look at the heterogeneity of consumption reactions to expansionary MP - here is what their results imply for MP tightening (assuming symmetry) 👇 1/7 pubs.aeaweb.org/doi/pdfplus/10…
6:15 PM ∙ Mar 3, 2023
27Likes10Retweets
Twitter avatar for @flo_fruehhaber
Florian Frühhaber @flo_fruehhaber
💡 Interest rates affect households very differently, but overall consumption reactions are pretty evenly distributed. This figure (see linked paper) presents numbers from a back-of-the-envelope calculation for an interest rate decrease. But ⚠️: state dependence matters! 7/7
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6:15 PM ∙ Mar 3, 2023
Twitter avatar for @ReimersImke
Imke Reimers @ReimersImke
We find that Amazon’s US toy prices increased significantly following the Toys R Us bankruptcy. For the most popular products, prices rose by 5.3%. The sales-weighted average price increase is 4.7% - almost half of Amazon’s reported price advantage pre-exit. 3/n
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7:15 PM ∙ Feb 27, 2023
Twitter avatar for @ShengwuLi
Shengwu Li @ShengwuLi
🥳 Conditionally accepted at Econometrica: Algorithmic Mechanism Design with Investment. (w Mohammad Akbarpour,@skominers, Kevin Li, and Paul Milgrom.) VCG mechanisms aren't always feasible—many real-world allocation problems are NP-hard, so we can't compute optimal allocations.
3:19 PM ∙ Feb 27, 2023
453Likes29Retweets

Navel gazing

Twitter avatar for @jrgptrs
Jörg Peters @jrgptrs
Is Economics self-correcting? We have a new discussion paper, joint with N Fiala & @flneubauer. Quick answer is: No, rather not. We reviewed all replications published as comments in the AER. Plus, we surveyed the authors. A short thread 1/. bit.ly/3y0wMYp #EconTwitter
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2:06 PM ∙ Mar 4, 2023
892Likes306Retweets
Twitter avatar for @jrgptrs
Jörg Peters @jrgptrs
Comments have no effect on the original paper’s citation trend 6/.
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2:13 PM ∙ Mar 4, 2023
37Likes4Retweets
Twitter avatar for @jrgptrs
Jörg Peters @jrgptrs
It’s also not surprising but still striking to see how little agreement there is between original authors and replicators – reflecting the sense that there’s no convincing definition or understanding in economics of what is an un/successful replication 8/.
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2:20 PM ∙ Mar 4, 2023
37Likes4Retweets

Separately:

Twitter avatar for @PHuenermund
Paul Hünermund @PHuenermund
"We find that median article quality is lower in the QJE if authors have ties to Harvard and/or MIT than if authors are from other top-10 universities, but higher in the JPE if authors have ties to Chicago." (ht @NicolaiFoss) docs.iza.org/dp15965.pdf
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9:27 AM ∙ Feb 28, 2023
677Likes125Retweets

Separately:

Twitter avatar for @Apoorva__Lal
apoorva.lal @Apoorva__Lal
Applied econometrics as a signaling game - researchers are more likely to razzle-dazzle the reader/referee by mentioning that they compute the "Kleibergen-Paap" F statistic when their first stage is weak.
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12:24 AM ∙ Mar 6, 2023
137Likes16Retweets

Paper summaries

Twitter avatar for @JoannaVenator
Joanna Venator @JoannaVenator
New working paper with @ArpitaPatnaik6, Gwyn Pauley, and @realMattWiswall ! This paper asks: does exposure to same-gender speakers increase women's take-up of econ major DUE to same-gender channels or does ANY speaker increase take-up? nber.org/papers/w30983 [1/N]
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7:48 PM ∙ Feb 28, 2023
48Likes16Retweets
Twitter avatar for @JWaldfogel
Joel Waldfogel @JWaldfogel
Women have traditionally participated in intellectual property creation at depressed rates relative to men, but book authorship has become an exception. In 1970, women published a third as many books as men. By 2020, women authored the majority of new books.
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8:57 PM ∙ Feb 28, 2023
5Likes2Retweets
Twitter avatar for @TonBobrov
Anton Bobrov @TonBobrov
Just 3 years of data make a significant difference in trend estimates. Here is the change in the linear trend on economic profits from 1981-2014 achieved by varying the sample start year. Over 30% of the trend disappears from 1985!
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5:47 PM ∙ Mar 1, 2023

^“t-hacking”

Twitter avatar for @VictimOfMaths
Colin Angus @VictimOfMaths
Our new paper looking at alcohol, drug and suicide mortality during the first 2 years of the pandemic in the USA and the UK nations has just been published in @RSPH_PUHE Lots of attention on these deaths early in the pandemic, so what actually happened? doi.org/10.1016/j.puhe…
A screenshot of the title page of our new paper: Increases in 'deaths of despair' during the COVID-19 pandemic in the USA and UK which has just been published in the journal Public Health.
11:26 AM ∙ Feb 28, 2023
212Likes92Retweets
Twitter avatar for @MarketPowerYT
Craig Palsson @ Market Power @MarketPowerYT
Since everyone is talking about the dangerous effects of smartphones (cc @Noahpinion), I'll share this finding from my 2017 paper. Kids started going to the hospital more after the iPhone was released. Likely cause: parents were distracted by their phones.
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1:42 PM ∙ Mar 2, 2023
379Likes70Retweets
Twitter avatar for @JonSteinsson
Jon Steinsson @JonSteinsson
“Engels' Pause” – the fact that real wages did not rise much in the early phases of the Industrial Revolution – is sometimes cited as evidence that rapid technical progress can hurt labor. Is this relevant in the modern context? 1/
7:11 PM ∙ Mar 2, 2023
115Likes29Retweets

^and also:

Twitter avatar for @JonSteinsson
Jon Steinsson @JonSteinsson
Are past periods of persistent prosperity (e.g., Greece, Rome, Song China, etc.) inconsistent with Malthusian economics as historians often claim (sometimes in scathing critiques of work done by economists)? Turns out they are not. 1/
7:41 AM ∙ Mar 1, 2023
184Likes31Retweets
Twitter avatar for @DrErinWolcott
Erin Wolcott @DrErinWolcott
The steady rise in CPS nonresponse since 2010 is from households refusing the survey. Robert Bernhardt, @D_Munro_Econ, and I offer a correction method to adjust labor market indicators for selection: erinwolcott-econ.github.io/BernhardtMunro…
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Twitter avatar for @I_Am_NickBloom
Nick Bloom @I_Am_NickBloom
Fascinating piece by Torsten Slok arguing that declining survey response rates are making data more volatile. More volatile data is making markets more volatile. This is raising uncertainty, and may damage growth. https://t.co/Bt182lbM8r
7:11 PM ∙ Feb 27, 2023
37Likes13Retweets
Twitter avatar for @ludwigstraub
Ludwig Straub @ludwigstraub
Recent inflation and consumer spending numbers have remained strong. Why? One idea that people seem to dismiss somewhat: Excess savings “It’s been two years since Biden’s stimulus, everybody already spent it” A short 🧵 on why that is the wrong way of thinking about it... 1/N
Twitter avatar for @WSJ
The Wall Street Journal @WSJ
Inflation firmed and consumers stepped up spending in January, likely leaving the Federal Reserve on track to keep raising interest rates https://t.co/6YnH6OWLly
3:14 PM ∙ Mar 1, 2023
608Likes153Retweets
Twitter avatar for @hooster1
Hessel Oosterbeek @hooster1
Ten years after its inception, our paper on the performance of school assignment mechanisms is published in @JPolEcon. We use a unique combination of register and survey data from Amsterdam to compare allocations under Deferred Acceptance (DA) and adaptive Boston.[1/9]
2:56 PM ∙ Mar 1, 2023
97Likes12Retweets
Twitter avatar for @cschuard
Caroline Chuard-Keller @cschuard
I really am a health economist. 💖All three projects of my dissertation found a lovely home 🏡The last one on the “negative effects of long parental leave” is now out @JHealthEcon doi.org/10.1016/j.jhea… (1/4)
doi.orgRedirecting
7:28 AM ∙ Mar 1, 2023
125Likes6Retweets
Twitter avatar for @shakked_noy
Shakked Noy @shakked_noy
🚨 New working paper! 🚨 Curious about the effects of generative AI systems like ChatGPT on production and labor markets? Then you'll be interested in our new paper (with @whitneywzhang)! Link to paper and thread below ⬇️ economics.mit.edu/sites/default/…
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3:55 PM ∙ Mar 2, 2023
596Likes175Retweets

More paper summaries

Twitter avatar for @AmandaYAgan
Amanda Agan @AmandaYAgan
An algorithm decided you should see this tweet! Our new paper shows a big problem with algorithmic curation: it hides content by people not like you (different races for example). You say: sure, that’s because users themselves are prejudiced. We say: it's something more! 🧵
Twitter avatar for @nberpubs
NBER @nberpubs
Evidence that curation algorithms (recommender systems) can learn and propagate biases that users themselves do not want, from @AmandaYAgan, Diag Davenport, Jens Ludwig, and @m_sendhil https://t.co/WRCN1tmTIf https://t.co/WnkEqgcjpH
4:55 PM ∙ Feb 28, 2023
294Likes82Retweets
Twitter avatar for @jonathanstray
Jonathan Stray @jonathanstray
New research: most previous work showing that YouTube, TikTok etc. recommend increasingly extreme content is junk 😐 These "audits" simulated users clicking randomly. But that vastly overestimates rabbit hole effects, because most users aren't extreme. arxiv.org/abs/2302.11225
7:43 PM ∙ Feb 27, 2023
255Likes60Retweets
Twitter avatar for @arpitrage
Arpit Gupta @arpitrage
Jacob Orchard @profwieland Valerie Ramey paper on fiscal stimulus shifted my priors: • MPCs are overstated; 0.3 rather than 0.5 • Micro-MPCs incompatible with aggregate consumption shifts •  Stimulus is lessened by GE effects, ie higher vehicle prices conference.nber.org/conf_papers/f1…
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3:00 PM ∙ Feb 27, 2023
47Likes9Retweets
Twitter avatar for @profzeke
Zeke Hernandez @profzeke
🧵on a crucial & 🤯 study. Immigrants represent 16% of US inventors but account for 36% of patents. 23% is a direct contribution as authors. 13% indirect by making *native* inventors more productive. Let’s break the direct & indirect effect down:
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11:23 AM ∙ Mar 2, 2023
255Likes89Retweets
Twitter avatar for @Ben_Tappin
Ben Tappin @Ben_Tappin
Our paper on party cues/persuasive communication is out today at @NatureHumBehav. We asked: is US partisans’ receptivity to persuasive communication diminished by countervailing cues from their party leader? We found no evidence of this. nature.com/articles/s4156…
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5:44 PM ∙ Mar 2, 2023
232Likes56Retweets
Twitter avatar for @amiyatosh
Amiyatosh Purnanandam @amiyatosh
New paper on effect of digital payment on economic growth w/ Tamanna Singh Dubey India witnessed impressive growth in digital payments after the launch of a nationwide payment interface (UPI) in 2016. Districts w/ high digital payment: higher income, higher business growth
11:34 PM ∙ Feb 28, 2023
77Likes17Retweets
Twitter avatar for @HyunSongShin
Hyun Song Shin @HyunSongShin
BIS working paper introducing a new dataset on emerging market sovereign bonds; tracking the currency of denomination and the residence of investors "Overcoming original sin: insights from a new dataset" bis.org/publ/work1075.…
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3:40 PM ∙ Feb 28, 2023
225Likes77Retweets
Twitter avatar for @DanieleSiena_
Daniele Siena @DanieleSiena_
The paper “Real Interest Rates and Productivity in Small Open Economies” with @monacelt and Luca Sala, is now out at @JIntlEcon. A four-tweet summary: sciencedirect.com/science/articl…
8:35 AM ∙ Feb 27, 2023
113Likes19Retweets
Twitter avatar for @IsabellaMWeber
Isabella M. Weber @IsabellaMWeber
Corporate concentration is a possible explanation of price and profit hikes driving inflation. But concentration was high before inflation. So, why can firms hike prices in an emergency? We explore this question in a new working paper. A 🧵scholarworks.umass.edu/econ_workingpa…
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9:42 PM ∙ Feb 27, 2023
1,363Likes508Retweets
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Best of #econtwitter - Week of March 5, 2023: paper summaries

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