Best of #econtwitter - Week of November 13, 2022 [3/3]

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.

This is part three of three.

Big JMP backlog coming later!

Paper summaries

PILoSSopher @pilossopher

2/N 1. Using cross sectional inflation expectations data from the SCE, we show that employed workers with higher inflation expectations are more likely to search for other jobs and more likely to make JJ transitions. THIS IS USING PRE COVID DATA

PILoSSopher @pilossopher

6/N What do people do about this? We asked them then "Suppose prices in the overall economy were to increase by [2, 10] % in the next 12 months. Which of the following actions would you take? Please check all that apply."

David Baqaee @DBaqaee

A quick summary of this paper: Chaining using actual budget shares or using utils is inappropriate for measuring welfare when preferences are nonhomothetic (there are differential income effects) or there are taste shocks (preferences change over time). 1/5

QJE @QJEHarvard

Recently accepted by #QJE, “Welfare and Output with Income Effects and Taste Shocks,” by Baqaee (@Dbaqaee) and Burstein (@arielburst): https://t.co/E3zNsWHlad

Jesse Bruhn @jmb112485

We find that deployments cause large increases in disability receipt ($3,000 per year 8 years out), some of which is due to the trauma of war, as deployments increase combat death and injury. However, we find little evidence that deployments cause noncombat deaths or suicide.

Sinan Aral @sinanaral

Our paper on "Identity Effects in Social Media" w/ @seanjtaylor @LevMuchnik & @madhavkumar2005 reports the results of a ~*2 yr* experiment on a social media site similar to Reddit, where content was randomly assigned to identified or anonymous conditions w/ & w/o identity cues.

Phil Magness @PhilWMagness

Karl Marx was infrequently cited and largely unknown outside of radical labor activism prior to 1917. The main reason we even know about him today is that the Soviet revolution put him on the map and elevated him into academic prominence. journals.uchicago.edu/doi/10.1086/72…

^started a bit of econ-history debate, not sure if this is worth the links but here; here’s a JMP that is related; found these old newspaper clippings useful; ngram; alternative summary; meme summary. Lots of links but this is emphatically not an endorsement that this is a debate worth digging into

David Solomon @david_h_solomon

New paper came out: “The Cryptocurrency Participation Puzzle”, with Ran Duchin, Jun Tu and Xi Wang. papers.ssrn.com/sol3/papers.cf… tl;dr: Zero weights are hard to justify. You can either think crypto is a bubble going to zero, or you can have zero weights, but not both. (1/N)

papers.ssrn.comThe Cryptocurrency Participation PuzzleWe show that ongoing zero portfolio weights in cryptocurrency are surprisingly difficult to generate in a standard Bayesian portfolio theory framework. With ten

Journal of Public Economics @JPubEcon

How quickly do taxpayers react to income tax reforms? In the short-run, adjustment frictions are large. Taxpayers take up to 3 years to adjust. Self-employed can react more flexibly than wage earners.

More: foreign demand shocks affect a small open economy; Venezuelan immigrants new businesses; unintentionally straussian

Interesting discussions

Ben Golub, same @ handle elsewhere 🇺🇦 @ben_golub

Chatting with a friend who gives freakishly good talks, the kind that advisors tell their graduate students to emulate. There's a lot to learn from such talks, but unfortunately the first thing is, "Preparing this talk cost at least $1000 at minimum wage."

Eva Vivalt @evavivalt

My talks got noticeably better after finding a Youtube video of someone whose talks were remarkable, auto-transcribing it, analyzing it, and incorporating some bits of their approach. It seems like overkill but it was immensely valuable. #econtwitter

Ben Bushong @BenBushong

@ben_golub I don't claim to be one of these speakers, but I spend a lot of nights watching old Feynman lectures to pick up on the subtleties of his craft. Then I mimic his approach the next day in class / life.