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Karakter - Tijdschrift voor Wetenschap @karakterasl.bsky.social · 15d

De #Nobelprijs #Economie ligt onder vuur. Critici stellen dat de prijs een misleidende autoriteit verleent aan een discipline die vaak ideologisch gekleurd is.

Lees het antwoord van prof. @simongalle.bsky.social (BI Norwegian Business School).

👉 www.tijdschriftkarakter.be/de-nobelprij...

Karakter

Tijdschrift van wetenschap biedt een etalage op recente vernieuwingen in de internationale wetenschap

www.tijdschriftkarakter.be

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Max Bergmann @maxbergmann.bsky.social · 16d

I don’t understand the framing of this Politico story at all. Trump’s post is saying Europe is strong enough to back Ukraine on its own…. US is out, hence he closes with “Good luck to all.” This ain’t good.

www.politico.eu/article/dona...

Trump’s apparent U-turn on Ukraine cheers Europeans amid deeper skepticism about US policy

Elation over Trump’s pro-Ukraine post vied with doubts that he will ever follow through with tougher action against Russia.

www.politico.eu

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Simon Galle @simongalle.bsky.social · 20d

music.youtube.com/watch?v=L5jI...

Ain't Got No, I Got Life - Nina Simone

YouTube video by drMandinga

music.youtube.com

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Simon Galle @simongalle.bsky.social · 22d

Extremely useful resource.

Stephen Redding @reddingecon.bsky.social · 22d

Excited to see the new Handbook of Regional and Urban Economics (Volume 6), edited jointly with Dave Donaldson come out: www.sciencedirect.com/handbook/han.... Fantastic set of chapters on recent advances and pointing the way to exciting further research @treballen.bsky.social @siepr.bsky.social

Handbook of Regional and Urban Economics | Volume 6, Issue 1: Handbook of Regional and Urban Economics | ScienceDirect.com by Elsevier

Read the latest chapters of Handbook of Regional and Urban Economics at ScienceDirect.com, Elsevier’s leading platform of peer-reviewed scholarly literature

www.sciencedirect.com

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Stephen Redding @reddingecon.bsky.social · 22d

Excited to see the new Handbook of Regional and Urban Economics (Volume 6), edited jointly with Dave Donaldson come out: www.sciencedirect.com/handbook/han.... Fantastic set of chapters on recent advances and pointing the way to exciting further research @treballen.bsky.social @siepr.bsky.social

Handbook of Regional and Urban Economics | Volume 6, Issue 1: Handbook of Regional and Urban Economics | ScienceDirect.com by Elsevier

Read the latest chapters of Handbook of Regional and Urban Economics at ScienceDirect.com, Elsevier’s leading platform of peer-reviewed scholarly literature

www.sciencedirect.com

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Simon Galle @simongalle.bsky.social · 28d

BI is hiring PhD candidates in economics.

We offer:
- a friendly and collegial department
- strong faculty support during your PhD
- access to very rich Norwegian microdata
- a competitive salary
- a strong track record in PhD placements.

Please share #EconSky 🙏🙏

bi.easycruit.com/vacancy/3539...

Handelshøyskolen BI Programområdet - Doktorgrad - PhD Candidate in Economics

PhD Candidate in Economics

bi.easycruit.com

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Simon Galle @simongalle.bsky.social · Aug 31

This matter-of-fact letter is straightforward and non-partisan.

It is more informative on the "Trump vs. Cook" case than most of the press coverage I have seen about it.

Tatyana Deryugina @tderyugina.bsky.social · Aug 27

Over 125 economists signed the open letter calling on the President, Congress, and the American public to uphold the principles of Federal Reserve independence and not remove Lisa Cook without due process.

There's still time to sign! And please share.

#EconSky

docs.google.com/document/d/1...

Open letter

Click here to add your signature. An Open Letter from Economists in Support of Governor Lisa Cook and Federal Reserve Independence To the President, Members of Congress, and the American public: We wr...

docs.google.com

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G Elliott Morris @gelliottmorris.com · Aug 28

"Researcher who has distorted voter data appointed to Homeland Security election integrity role" www.nbcnews.com/politics/tru...

Researcher who has distorted voter data appointed to Homeland Security election integrity role

Heather Honey, a conservative election researcher, was appointed to the new role amid Trump's push to restructure how elections are run.

www.nbcnews.com

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Tatyana Deryugina @tderyugina.bsky.social · Aug 27

Over 125 economists signed the open letter calling on the President, Congress, and the American public to uphold the principles of Federal Reserve independence and not remove Lisa Cook without due process.

There's still time to sign! And please share.

#EconSky

docs.google.com/document/d/1...

Open letter

Click here to add your signature. An Open Letter from Economists in Support of Governor Lisa Cook and Federal Reserve Independence To the President, Members of Congress, and the American public: We wr...

docs.google.com

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Aaron Sojourner @aaronsojourner.org · Aug 26

#NumbersDay
qz.com/moodys-chief...

Moody’s chief economist says some states are in recession

Moody’s chief economist Mark Zandi placed blame on high tariffs and “restrictive” immigration policies for the economy’s downturn

qz.com

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The Economist @economist.com · Aug 26

There is little precedent: no Fed governor has been dismissed for cause before

Trump “fires” Lisa Cook, escalating his war on the Federal Reserve

There is little precedent: no Fed governor has been dismissed for cause before

econ.st

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Simon Galle @simongalle.bsky.social · Aug 26

"Dag na dag ontvouwt zich in Gaza een van de grootste en grofste misdaden tegen de menselijkheid van onze tijd...

De waarheid is dat Europa wel degelijk hefbomen heeft om Israël onder druk te zetten om dit bloedvergieten te stoppen en zijn doelstellingen aan de onderhandelingstafel te bereiken."

Bart Eeckhout @barteeckhout.bsky.social · Aug 25

Doodjammer dat de Gaza-kwestie in het politieke frame geduwd wordt van een regeringscrisis
www.demorgen.be/meningen/doo...

Doodjammer dat de Gaza-kwestie in het politieke frame geduwd wordt van een regeringscrisis

Bart Eeckhout is hoofdcommentator bij De Morgen. Hij staat stil bij het zoveelste bombardement in Gaza en vindt het tijd voor sancties.

www.demorgen.be

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Bart Eeckhout @barteeckhout.bsky.social · Aug 25

Doodjammer dat de Gaza-kwestie in het politieke frame geduwd wordt van een regeringscrisis
www.demorgen.be/meningen/doo...

Doodjammer dat de Gaza-kwestie in het politieke frame geduwd wordt van een regeringscrisis

Bart Eeckhout is hoofdcommentator bij De Morgen. Hij staat stil bij het zoveelste bombardement in Gaza en vindt het tijd voor sancties.

www.demorgen.be

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Paul Krugman @pkrugman.bsky.social · Aug 25

If you think the attack on the Fed's Lisa Cook has nothing to do with you, you're wrong — any one of us may be next paulkrugman.substack.com/p/we-are-all...

We Are All Lisa Cook

Nobody is safe from weaponized government

paulkrugman.substack.com

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laurentfranckx.bsky.social @laurentfranckx.bsky.social · Aug 15

I was already an adult when I first heard that the French and the British continued their blockade of Germany after the armistice of 11 November 1918 until the Treaty of Versailles was signed, and that this lead to hundreds of thousands of death from starvation. I remained convinced that this /

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Arin Dube @arindube.bsky.social · Aug 12

After a remarkable stretch when wage inequality fell substantially, wage growth at the bottom is now once again falling behind growth at the top.

This is bad news for working class Americans.

t.co/1hp5EE9up5

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Daniel Zhao @danielzhao.bsky.social · Aug 1

Wow, weak July #jobsreport. Headline a touch softer than expectations, but real surprise is huge downward revisions to May & June.

-Payrolls grew just 73,000, below expectations
-Surprisingly large downward revisions to May (+144k to +19k) and Jun (+147k to +14k)
-Unemp up to 4.2%

#NumbersDay 1/

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John McLaren @johnmclaren.bsky.social · Aug 1

The big question for LLM’s is not “will they revolutionize life” or “will they take our jobs?” It’s “who will benefit and who will lose.” It’s a very tricky question, and this paper is a careful attempt to work out the subtle mechanisms. Spoiler: Most of the cost is borne by white-collar types.

Simon Galle @simongalle.bsky.social · Aug 1

New version of our paper "The Labor Market Impact of Technical Change: Inspecting the Mechanisms," with F. Carpena.

www.ocf.berkeley.edu/~sgalle/wp-c...

We present a stylized, tractable model on how occupation-specific technical change affects the wage distribution.
#EconSky

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Yuriy Gorodnichenko @ygorodnichenko.bsky.social · Aug 1

Please submit your papers to the series!

#EconSky #UkrainianView #Ukraine

Economists for Ukraine @econ4ua.bsky.social · Jul 31

📢Econ4UA is launching a working paper series on Ukraine-related issues! The first paper will be “A HIMARS in the Hand is Worth Two in the Bush: Measuring the Real Economic Value of U.S. Support for Ukraine.”

Read more: tinyurl.com/wp-series

Submit a paper: tinyurl.com/cfp-form

#EconSky

Working Paper Series – Economists for Ukraine

tinyurl.com

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Simon Galle @simongalle.bsky.social · Aug 1

At least I've learned a lot from writing this paper.

Colleagues have also recommended its pedagogical qualities, so hopefully it's insightful for others as well.

Thanks for reading.🙏

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Simon Galle @simongalle.bsky.social · Aug 1

Granted, the ideas in our analysis are not novel.

In my view, our contribution lies in integrating these fundamental forces on the labor demand and labor supply side in an elegant, concise, and transparent framework.

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Simon Galle @simongalle.bsky.social · Aug 1

Example: administrative assistants may be displaced from their job due to AI. Whether that affects their eventual wage outcomes, depends on how transferable their skills are to other jobs.

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Simon Galle @simongalle.bsky.social · Aug 1

Second, the reallocation elasticity (kappa) regulates the magnitude of the wage changes.

When labor reallocation is very elastic, differences in equilibrium wage changes are small.

When labor reallocation is inelastic, we get the highest possible wage differences.

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Simon Galle @simongalle.bsky.social · Aug 1

Example: AI may take over (some) coding tasks, but demand for programmers may still increase if the increase in overall demand for IT services offsets the decline in programmer demand for a given IT output.

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Simon Galle @simongalle.bsky.social · Aug 1

Note that when machines substitute workers in production (sigma >1), the wage impact for workers can still be positive if there is a sufficiently strong response in final demand.

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Simon Galle @simongalle.bsky.social · Aug 1

First, (sigma - psi), the difference between the input substitution and final demand elasticities, regulate whether workers and machines are gross substitutes or complements and thereby the sign of the wage changes.

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Simon Galle @simongalle.bsky.social · Aug 1

The model has 3 key elasticities: the input substitution elasticity (sigma), the final demand elasticity (psi), and the labor reallocation elasticity (kappa).

Proposition 1 explains how cost shocks translate into wage changes as a function of these three elasticities.

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Simon Galle @simongalle.bsky.social · Aug 1

Referees have so far compared the first paper of our paper to a "textbook exposition." Since our type of model is underutilized in economics, I'll take that as a complement :).

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Simon Galle @simongalle.bsky.social · Jul 31

All in all, not a cause for celebration. But I much prefer the geopolitics of today's world over the geopolitics on April 2nd.

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