Best of #econtwitter - Week of November 6, 2022 [1/2]
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 one of two.
Paper summaries
Andrea Presbitero@a_presbitero
🎃👻 Halloween treat 👻🎃
Glad to finally post a (quite long) 🧵on a new paper on reward credit cards, joint with @sumit_prof, @andrefjsilva & Carlo Wix #EconTwitter
1:23 PM · Oct 31, 2022
85 Reposts · 365 Likes
Jessica Leight@leightjessica
Fascinating new paper in JDE by @mqpellicer @VimalRanchhod analyzing the effect of racial classification in South Africa on economic outcomes, exploiting a discontinuity induced by policy: cohorts born after 1951 less likely to be classified as white
sciencedirect.com/science/articl…
4:38 PM · Oct 31, 2022
18 Reposts · 37 Likes
^check out those discontinuities 👀
NBER@nberpubs
Differences in life expectancy by state of residence and of birth are spatially clustered; regional life expectancy inequality is higher based on life expectancies by state of birth, from @jasonmfletcher, Schwarz, Engelman, Johnson, Hakes, and Palloni nber.org/papers/w30572
8:30 PM · Oct 31, 2022
10 Reposts · 10 Likes
^request for thread
Krzysztof Karbownik@chriskarbownik
Our paper w/ @CMD_Hart & DNF on (+) and ⬆️ effects of voucher school choice scale up/maturity in FL is now in AEJ:EP: aeaweb.org/articles?id=10…. Larger effects for disadv. students but (+) for all. Both local and district-wide competition matters! Hollowing out effect in sch. qual.
5:21 PM · Oct 31, 2022
6 Reposts · 26 Likes
Todd Michney@ToddMichney
It’s finally out – my article on how & why the Home Owners Loan Corporation made its #redlining maps: journals.sagepub.com/doi/full/10.11…. Here’s an illustrated thread summarizing the major findings … (1/19)
@SAGE_Publishing @HOLCRedlining @SACRPH @UrbanHistoryA
1:55 PM · Oct 31, 2022
236 Reposts · 728 Likes
DSGE models
Cosma Shalizi@cshalizi
Your Favorite DSGE Sucks
bactra.org
Your Favorite DSGE Sucks
6:55 PM · Nov 2, 2022
109 Reposts · 425 Likes
^provoked a lot of discussion, seems like there may have been an important coding error
Joshua Brault@JoshuaBrault3
An update to my previous thread on the McDonald-Shalizi paper. After looking at their codes I believe the findings in this paper are a result of coding errors. Not to do with the optim. procedure, but with the definition of model and data. Explanation in the following tweets.
12:10 PM · Nov 8, 2022
84 Reposts · 325 Likes
Andy Preston@andypreston_UK
As promised, I wrote about the recent paper by Macdonald and Shalizi (MS) which claims that there are many issues with the estimation of macro models. In short, I think their critiques are significantly overstated. 1/n
andypreston.substack.com
Whither DSGE Estimation?
10:36 AM · Nov 8, 2022
35 Reposts · 149 Likes
Marco Del Negro speculates on the coding error as well. Other discussion:
Martin Beraja@MartinBeraja
@ShengwuLi The issues with identification/inference in DSGEs are well known, when using unconditional observational data (as in that blog). But you wouldn't say that a demand-supply model is not useful because one cannot identify elasticities from data on prices and quantities alone.
7:24 PM · Nov 3, 2022
1 Repost · 12 Likes
^more on this point; also:
Otilia Boldea@OtiliaBoldea
This paper gets a lot of attention on Twitter. I will leave aside other issues with it. But swapping series is NOT a check whether the structural parameters are in fact structural, as the paper claims and goes as far as to rewrite SW model with swapped series 1/n
Cosma Shalizi @cshalizi
Your Favorite DSGE Sucks
https://t.co/SMXFswSO8w
2:24 PM · Nov 5, 2022
22 Reposts · 78 Likes
Interesting discussions
Brian Albrecht@BrianCAlbrecht
Computers revolutionized the way academics do data analysis and calculations.
Today, computers can help the whole WRITING process. No, I don't mean typesetting.
Here are 3 new AI tools that I'm using everyday 🧵
12:05 PM · Oct 31, 2022
974 Reposts · 5.6K Likes
Ben Moll@ben_moll
Third, a parting thought:
There's good economics in which households & firms reduce demand and substitute as prices rise, demand curves are downward sloping, and modern capitalist economies adapt.
If someone tells you otherwise, it's bad economics.
Simple as that.
11:19 PM · Nov 1, 2022
41 Reposts · 180 Likes
Tatyana Deryugina 🇺🇦@TDeryugina
Are you doing a lot of reviews for the same journal (say, 3+ per year for 2+ years in a row)? Does that journal have an editorial council/board (= people who are committed to review regularly for the journal)? If so, consider asking if you can join it.
2:49 PM · Oct 31, 2022
15 Reposts · 176 Likes
Heidi L. Williams@heidilwilliams_
Over the last seven months, @PaulFNiehaus and I have been building the Science for Progress Initiative (SfPI), and we are excited to share some of our progress.
SfPI is a new @JPAL initiative designed to catalyze scientific research on the scientific process.
3:19 PM · Nov 1, 2022
58 Reposts · 175 Likes