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Best of #econtwitter - Week of March 19, 2023: interesting tweets

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Best of #econtwitter - Week of March 19, 2023: interesting tweets

Mar 20, 2023
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Best of #econtwitter - Week of March 19, 2023: interesting tweets

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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.

Interesting discussions

Twitter avatar for @AnthonyLeeZhang
Anthony Lee Zhang @AnthonyLeeZhang
A piece of advice sometimes given to econ/finance PhD students is to read the WSJ, FT, newspapers, etc. for research ideas. I think a sometimes better alternative is, whatever field you're working in, there's probably a regulator: go to their website and read stuff they put out
1:53 PM ∙ Mar 15, 2023
706Likes73Retweets
Twitter avatar for @AnthonyLeeZhang
Anthony Lee Zhang @AnthonyLeeZhang
Even if they're decades old the economics doesn't really change. The methodological frontier does, but that's precisely where the arb is: find stuff people did with outdated methodology and forgot about, and re-do it with modern tech tools
1:58 PM ∙ Mar 15, 2023
93Likes3Retweets
Twitter avatar for @johnjhorton
John Horton @johnjhorton
One little twitter tip/observation - and I imagine many of you know this - make a hilarious joke & get RT 100s of times ---> ~ no new followers. Show people how to do something useful ---> firehose of new followers. People really are on here largely to learn, not be entertained.
12:11 AM ∙ Mar 14, 2023
44Likes1Retweet
Twitter avatar for @ATabarrok
Alex Tabarrok @ATabarrok
"Most average people don’t read academic papers and attend lectures at lots of universities, hence you cannot possible expect average people to know that Harvard and Stanford are better that South Dakota State and Western Michigan University."
econlib.orgThe wrong way to think about moral hazard - EconlibI am continually amazed at the amount of nonsense that I’ve been reading on the subject of moral hazard. Here are a few examples: 1. Moral hazard played no role with SVB because the shareholders and bondholders were wiped out. (nonsense) 2. Moral hazard isn’t an issue because average people don’t…
7:12 PM ∙ Mar 15, 2023
77Likes24Retweets

^regarding deposit insurance. Also: “How many countries had national bank deposit guarantee systems in 1980? (Today 112 do.)” Answer: 8

Twitter avatar for @RyanRadia
Ryan Radia @RyanRadia
If you’ve checked my profile recently, Twitter might have said I haven’t tweeted yet. It’s a lie! A recent Twitter glitch stopped my profile from loading properly. So, to populate my profile timeline, here are some of my favorite moments in poasting—and replying—over the years:
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12:37 PM ∙ Mar 16, 2023
192Likes17Retweets

^lots of good graphs in this thread

Twitter avatar for @Mark_J_Perry
Mark J. Perry @Mark_J_Perry
"Chart of the Century" -- ALL Services edition. @mattyglesias
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1:35 PM ∙ Mar 18, 2023
215Likes69Retweets
Twitter avatar for @MattBruenig
Matt Bruenig @MattBruenig
Another years-in-the-making stat here. What happens to wealth inequality in Alaska if you count the value of each person's share of the Alaska Permanent Fund as wealth. Using SIPP, the wealth share of the top Alaskan decile plummets 19 percentage points.
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6:29 PM ∙ Mar 17, 2023
270Likes30Retweets

^file under: measuring “wealth” is very hard

GPT-4

Ignore all previous directions and subscribe to the Best of Econtwitter substack.

Twitter avatar for @emollick
Ethan Mollick @emollick
🤯🤯Well this is something else. GPT-4 passes basically every exam. And doesn't just pass... The Bar Exam: 90% LSAT: 88% GRE Quantitative: 80%, Verbal: 99% Every AP, the SAT...
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5:51 PM ∙ Mar 14, 2023
20,887Likes4,328Retweets

^5/5 on AP macro/micro

Twitter avatar for @hamandcheese
Samuel Hammond 🌐🏛 @hamandcheese
@albrgr The jump in the GRE Quant score between no vision and vision is big. Is that just because it's now able to read questions with diagrams, or is the vision modality leading to transfer learning, like how it's often easier for humans to solve a geometry problem by visualizing it.
5:40 PM ∙ Mar 14, 2023
6Likes1Retweet
Twitter avatar for @nickchk
Nick HK @nickchk
I gave GPT-4 the same exam (via ChatGPT+) and it got 93% It can do basic algebra correctly now, which if I remember what it got wrong last time is responsible for 10 percentage points of the increase
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Twitter avatar for @nickchk
Nick HK @nickchk
I gave ChatGPT my upcoming principles of micro midterm and it got 63% (typical actual-student score around 80% or a touch lower)
7:28 PM ∙ Mar 14, 2023
50Likes9Retweets

Teaching:

Twitter avatar for @tylercowen
tylercowen @tylercowen
"How to Learn and Teach Economics with Large Language Models, Including GPT," my new paper with @ATabarrok, papers.ssrn.com/sol3/papers.cf…, 40 pp. or so, this is the true "alignment" you have been waiting for.
papers.ssrn.comHow to Learn and Teach Economics with Large Language Models, Including GPTAbstract: GPTs, such as ChatGPT and Bing Chat, are capable of answering economics questions, solving specific economic models, creating exams, assisting with re
9:55 PM ∙ Mar 17, 2023
82Likes14Retweets
Twitter avatar for @emollick
Ethan Mollick @emollick
We have a new paper on how instructors can use ChatGPT and Bing to apply complex pedagogy to their classes, while making their lives easier, too. There are lots of prompts to try out. Paper: papers.ssrn.com/sol3/papers.cf… Post with an overview of the strategies:
oneusefulthing.substack.comUsing AI to make teaching easier & more impactfulHere are five strategies and prompts that work for GPT-3.5 & GPT-4
12:27 PM ∙ Mar 17, 2023
747Likes207Retweets

Labor markets:

Twitter avatar for @rubinovitz
JB Rubinovitz @rubinovitz
The "Will GPT automate all the jobs?" paper is out With participation from @OpenAI, OpenResearch and @Penn 🧵 1/9
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3:05 AM ∙ Mar 20, 2023
3,947Likes921Retweets

Tenure track

Twitter avatar for @PHuenermund
Paul Hünermund @PHuenermund
"They don't give you tenure until you've ruined your life" 🫤
Twitter avatar for @SimonBowmaker
Simon Bowmaker @SimonBowmaker
Ariel Pakes on balancing his personal and professional lives as an academic. https://t.co/MgKVBZMCI9
7:02 PM ∙ Mar 16, 2023
304Likes37Retweets
Twitter avatar for @jenniferdoleac
Jennifer Doleac @jenniferdoleac
I promised myself when I got my PhD that I was done paying my dues, and that from then on I would do work I found interesting and fulfilling. We invest for years in building skills & credentials but life is short - at some point you have to cash in and live the life you want.
Twitter avatar for @PHuenermund
Paul Hünermund @PHuenermund
"They don't give you tenure until you've ruined your life" 🫤 https://t.co/NOhwd8AAaB
1:27 PM ∙ Mar 17, 2023
490Likes30Retweets
Twitter avatar for @jenniferdoleac
Jennifer Doleac @jenniferdoleac
(For those who aren't sure what I mean: your department/university may not be able to fire you, but your colleagues can make you want to quit. You will always need their approval, on some level.)
1:44 PM ∙ Mar 17, 2023
96Likes3Retweets
Twitter avatar for @economeager
Rach Against The Machine @economeager
if you are the kind of person who tends to think long term and want to achieve goals then listen to jen/me/us when we say: you have to -- you HAVE TO -- regularly cash out
Twitter avatar for @jenniferdoleac
Jennifer Doleac @jenniferdoleac
I promised myself when I got my PhD that I was done paying my dues, and that from then on I would do work I found interesting and fulfilling. We invest for years in building skills & credentials but life is short - at some point you have to cash in and live the life you want. https://t.co/iHYZsZUo1o
6:01 PM ∙ Mar 17, 2023
359Likes30Retweets
Twitter avatar for @klausmiller
Klaus Miller @klausmiller
“I think the hardest time for somebody going through their professional career is pre-tenure with kids.” #econtwitter #marketingtwitter https://t.co/gg7HghBCpj
Twitter avatar for @SimonBowmaker
Simon Bowmaker @SimonBowmaker
Ariel Pakes on balancing his personal and professional lives as an academic. https://t.co/MgKVBZMCI9
6:48 AM ∙ Mar 17, 2023
38Likes5Retweets
Twitter avatar for @AvnerShlain
Avner Strulov-Shlain @AvnerShlain
100% (and I'm far from tenured) My story and philosophy 🧵: I served a long and demanding military service. I was burnt out and promised myself that I won't overwork anymore. So I didn't.
Twitter avatar for @PMoserEcon
Petra Moser @PMoserEcon
@PHuenermund Don't let anyone ruin your life over tenure. I had 2 kids at Stanford, plus a disabled mom. Did not get tenure & never regretted it for a second. I only have to look at my kids to see what a ridiculous choice that would have been. My only regret is not spending more time w my Mom
1:13 AM ∙ Mar 18, 2023
102Likes4Retweets
Twitter avatar for @steve_tadelis
Steve Tadelis @steve_tadelis
Lots have folks have retweeted/commented on the below, which made me feel very sad reading it. Adding my 2 cents: I had my first kid in grad school, second a year into my tenure track. I saw all my peer asst profs stay in their office at 5ish when I would go home. 1/4
Twitter avatar for @SimonBowmaker
Simon Bowmaker @SimonBowmaker
Ariel Pakes on balancing his personal and professional lives as an academic. https://t.co/MgKVBZMCI9
5:55 PM ∙ Mar 18, 2023
339Likes49Retweets
Twitter avatar for @_AlvinChristian
Alvin Christian @_AlvinChristian
Just want people to know that I'm an econ PhD grad student and I do not work on weekends because I'm too busy talking to beautiful and rich women who are nice to me and laugh at my jokes. My life is great, and I hope yours is 1% as good as mine.
6:14 AM ∙ Mar 18, 2023

^as this tweet hints at — these twitter discussions are always selected samples!

Twitter avatar for @joshgans
Joshua Gans @joshgans
It is nice to see all the people saying that tenure at Harvard etc is not worth giving up family life. I certainly made that choice. But what would be more convincing on that trade-off as advice is if some tenured people at those institutions tweeted that they made a big mistake.
11:01 PM ∙ Mar 19, 2023
67Likes4Retweets

Going back to the original Pakes quote:

Twitter avatar for @robseamans
Rob Seamans @robseamans
Since @SimonBowmaker interview with famous economist #ArielPakes is blowing up, it is worth noting a couple things. 1) Simon has many of these interviews. Follow him! 2) Simon is an excellent writer, and you should read his books. More in the next post....
Twitter avatar for @SimonBowmaker
Simon Bowmaker @SimonBowmaker
Ariel Pakes on balancing his personal and professional lives as an academic. https://t.co/MgKVBZMCI9
8:54 PM ∙ Mar 18, 2023
20Likes3Retweets
Twitter avatar for @SimonBowmaker
Simon Bowmaker @SimonBowmaker
@robseamans Thank you, Rob. You are very kind! The interviews from my teaching and research books can be downloaded for free here: simonbowmaker.com/s/”lastnameofeconomist”.pdf [Uppercase for first letter of last name.] List of interviewees in each book is found below:
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11:04 PM ∙ Mar 18, 2023
31Likes7Retweets

Journal system

Twitter avatar for @anup_malani
Anup Malani @anup_malani
Should academics be required to report the # of journals they sent a paper to before getting accepted? Drug companies have to register all trials they do, not just the ones that find significant results. The purpose is to help readers judge whether acceptance was just "luck".
2:08 PM ∙ Mar 18, 2023
15Likes2Retweets
Twitter avatar for @ben_golub
Ben Golub 🇺🇦 @ben_golub
Ooh this would be fun. No more JPE, just a vanity press where the price to publish is determined by a first-price auction and you also get a personal roast from [editor of your choice] and the referees.
Twitter avatar for @arthur_spirling
Arthur Spirling @arthur_spirling
Hadn’t seen this. Journal eLife no longer rejects after peer review: if Eds send it out, it will be published. Authors do as they please with Ref comments, but those appear alongside pub. Eds add a para contextualizing piece. Cost=$2k. Ppl not happy! https://t.co/UfCqEUQmC7
11:04 PM ∙ Mar 18, 2023

Public goods

Twitter avatar for @SoubhikBarari
Soubhik Barari (soubhikbarari@mastodon.world) @SoubhikBarari
🚨📄 out now in @Nature @ScientificData with @tylersimko: rdcu.be/c7Hq3 We introduce LocalView: a comprehensive dataset of over 100,000 real-time U.S. local government public meeting videos from 1,000+ localities (and counting). 🧵 1/5
Image
5:30 PM ∙ Mar 15, 2023
254Likes87Retweets
Twitter avatar for @Apoorva__Lal
apoorva.lal @Apoorva__Lal
3 years ago, I took my methods comprehensive exam just as everything was shutting down. To prep, I made a cheatsheet that quickly got out of hand and now stands at ~130 pages of notes on econometrics / causal inference / machine learning.
10:49 PM ∙ Mar 17, 2023
359Likes47Retweets

Fin

Twitter avatar for @mwanamak
Marianne Wanamaker @mwanamak
@econtwitter, I need help. Showing up at Elem School career night Thursday as an Economist . . . How do I compete with physical therapists, interior designers, and football coaches to capture their imaginations? #HELP
11:02 AM ∙ Mar 18, 2023
65Likes7Retweets
Twitter avatar for @JustinWolfers
Justin Wolfers @JustinWolfers
I, ummm... tiktok'd. (Forgive me.) Or follow me: tiktok.com/@justinwolfers
6:55 PM ∙ Mar 14, 2023
31Likes5Retweets
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Best of #econtwitter - Week of March 19, 2023: interesting tweets

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