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Best of #econtwitter - Week of November 6, 2022 [1/2]

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Best of #econtwitter - Week of November 6, 2022 [1/2]

An Economist
Nov 8, 2022
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Best of #econtwitter - Week of November 6, 2022 [1/2]

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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.

This is part one of two.

Paper summaries

Twitter avatar for @a_presbitero
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
Image
1:23 PM ∙ Oct 31, 2022
365Likes85Retweets
Twitter avatar for @leightjessica
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
37Likes18Retweets

^check out those discontinuities 👀

Twitter avatar for @nberpubs
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
Image
8:30 PM ∙ Oct 31, 2022
10Likes10Retweets

^request for thread

Twitter avatar for @chriskarbownik
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.
Image
5:21 PM ∙ Oct 31, 2022
26Likes6Retweets
Twitter avatar for @ToddMichney
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
728Likes236Retweets

DSGE models

Twitter avatar for @cshalizi
Cosma Shalizi @cshalizi
Your Favorite DSGE Sucks
bactra.orgYour Favorite DSGE Sucks
6:55 PM ∙ Nov 2, 2022
425Likes109Retweets

^provoked a lot of discussion, seems like there may have been an important coding error

Twitter avatar for @JoshuaBrault3
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
325Likes84Retweets
Twitter avatar for @andypreston_UK
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.comWhither DSGE Estimation?Things are not as bad as made out
10:36 AM ∙ Nov 8, 2022
149Likes35Retweets

Marco Del Negro speculates on the coding error as well. Other discussion:

Twitter avatar for @MartinBeraja
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
12Likes1Retweet

^more on this point; also:

Twitter avatar for @OtiliaBoldea
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
Twitter avatar for @cshalizi
Cosma Shalizi @cshalizi
Your Favorite DSGE Sucks https://t.co/SMXFswSO8w
2:24 PM ∙ Nov 5, 2022
78Likes22Retweets

^and another thread

Interesting discussions

Twitter avatar for @BrianCAlbrecht
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
5,602Likes974Retweets
Twitter avatar for @ben_moll
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
180Likes41Retweets
Twitter avatar for @TDeryugina
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
176Likes15Retweets
Twitter avatar for @heidilwilliams_
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.
Image
3:19 PM ∙ Nov 1, 2022
175Likes58Retweets
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