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Florian Ederer @florianederer.bsky.social · 4d

Research output after tenure drops off a cliff for business, economics, sociology, and other non-lab fields.

But it remains high post-tenure in lab-based fields such as chemistry, physics, computer science, and engineering.
www.pnas.org/doi/epdf/10....

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Reposted by Florian Ederer

Centre for Economic Policy Research @cepr.org · 6d

Change of format! Join us for a fireside w/ Jonathan Kanter moderated by @cristinacaffarra.bsky.social followed by an open panel discussion w/ @lugaricano.bsky.social @imarinescu.bsky.social @igorletina.bsky.social & Hans Zenger moderated by @florianederer.bsky.social.
#EconSky

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Florian Ederer @florianederer.bsky.social · 4d

When NBA rookies land on stacked teams, they get less playing time, less visibility, and lower long-term earnings.

Early exposure matters for careers.

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Florian Ederer @florianederer.bsky.social · 6d

Today’s firearm ownership in the US is partly rooted in frontier history.

Counties with longer exposure to the frontier from 1790 to 1890 have higher gun ownership today and respond more strongly to demand shocks.

arosenbe.github.io/assets/paper...

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Florian Ederer @florianederer.bsky.social · 6d

U.S. regions more exposed to AI saw faster emissions growth, more reliance on fossil fuels, and dirtier electricity generation.
cepr.org/publications...

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Florian Ederer @florianederer.bsky.social · 8d

No, there are two of them: Ole Peters and Eric Weinstein

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Florian Ederer @florianederer.bsky.social · 8d

Never has multihoming seemed less appealing.

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Reposted by Florian Ederer

Tim Bresnahan @timobres.bsky.social · 13d

Super interesting paper. Colluders often switch or hide language to avoid detection. Will invitations to collude change language to avoid this specific detection? Many other classes of bad actors, e.g. posters of harmful content on social media, have so changed to avoid AI detection.

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Reposted by Florian Ederer

Centre for Economic Policy Research @cepr.org · 13d

AI Acquihires: Competition Risks, Talent Battles and Economic Spillovers Webinar - 8 October @ 17:00 CEST

🗣️Jonathan Kanter @lugaricano.bsky.social @imarinescu.bsky.social @igorletina.bsky.social Hans Zenger

Moderator: @florianederer.bsky.social
Register: cepr.org/events/ai-ac...
#EconSky

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Florian Ederer @florianederer.bsky.social · 13d

Collusion doesn't just happen in smoke-filled rooms. It can be out in the open in earnings calls.

New research uses NLP on 300k+ transcripts to spot the language that firms use to coordinate publicly. Regulators can use this tool to detect anticompetitive behavior.
papers.ssrn.com/sol3/papers....

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Reposted by Florian Ederer

Jake Grumbach @jakemgrumbach.bsky.social · 17d

Restricting visas doesn’t lead to hiring non-immigrants—it leads to hiring foreigners. For every H-1B visa rejection, multinationals add ~0.4–0.9 foreign employees, especially in R&D hubs like India, China, and Canada.

via @florianederer.bsky.social

How Do Restrictions on High-Skilled
Immigration Affect Offshoring?
Evidence from the H-1B Program
Britta Glennon
WORKING PAPER 27538
DOI 10.3386/w27538
ISSUE DATE July 2020
REVISION DATE February
2023
Highly-skilled workers are not only a crucial and relatively scarce inputs into firms' productive and innovative processes, but are also a critical resource determining competitive advantage. An increasingly high proportion of these workers in the US were born abroad and permitted to work on skilled worker visas. How do multinational firms respond when artificial constraints, namely policies restricting skilled immigration, are placed on their ability to hire scarce human capital? This paper combines visa microdata and comprehensive data on US multinational firm activity to demonstrate that firms respond to restrictions on H-1B immigration by increasing foreign affiliate employment at the intensive and extensive margins, particularly in China, India, and Canada. The most impacted jobs were R&D-intensive ones, but there is some evidence that non-R&D employment was also affected. The paper highlights a means by which firms can circumvent constraining policies and mitigate country-level risk, but it also suggests that, for the average MNC, this means is imperfect; for every visa rejection, they hire 0.4 employees abroad. The most globalized MNCs are the most likely to respond to these restrictions by offshoring, highlighting that firm capabilities—in the form of prior internationalization-shape the decision and ability to offshore in response to skilled immigration restrictions; indeed, these firms hire 0.9 employees abroad for every visa rejection. More broadly, the paper provides evidence of a push factor for internationalizing knowledge activity: artificial constraints on resources result in firms circumventing restrictive policies in ways that may not be anticipated by policy makers.

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Florian Ederer @florianederer.bsky.social · 13d

Excited to moderate this panel on "AI Acquihires: Competition Risks, Talent Battles and Economic Spillovers" with the antitrust all-star team of Kanter, Garicano, Marinescu, Letina, and Zenger.

Wednesday, 8 October 2025
11:00 AM - 12:30 PM (ET)

Registration:
cepr-org.zoom.us/webinar/regi...

Welcome! You are invited to join a webinar: AI Acquihires: Competition Risks, Talent Battles, and Economic Spillovers. After registering, you will receive a confirmation email about joining the webina...

Antitrust agencies are increasingly confronted with “acquihires” of AI start-ups — yet most cases so far have been waved through under the banner of “uncertainty.” A decade ago, similar caution around...

cepr-org.zoom.us

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Reposted by Florian Ederer

Aaron Sojourner @aaronsojourner.org · 21d

Common Ownership & Employee Earnings
updated & improved

Consider a pair of companies that sell into the same product market. If pair shares common owners, the owners have incentive for pair to soften competition.

Same with local labor market competition
papers.ssrn.com/sol3/papers....

Common Ownership and Employee Earnings *
José Azar Xin Dai Yue Qiu Aaron Sojourner
September 15, 2025
Abstract
Using administrative data in the manufacturing sector from the U.S. Census Bureau, this paper provides the first evidence on the effect of common ownership on
employee earnings. Using firms’ additions to the S&P 500 index as a shock to their
local competitors’ common ownership, we find that, after a same-industry competitor enters the S&P 500 index, the average employee earnings of S&P 500 incumbents
in the same local labor market decrease. Additionally, these firms’ employment increases. These findings are inconsistent with the canonical oligopsony models but our generalized model of oligopsony incorporating a recruitment intensity margin can rationalize them

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Reposted by Florian Ederer

chloe gibbs @chloergibbs.bsky.social · 21d

The AEA released the committee's report on the 2023 climate survey and it's chock full of depressing stuff, but I couldn't help but notice this pull quote.

Posted here without further commentary. 👀

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Florian Ederer @florianederer.bsky.social · Sep 3

www.nber.org/papers/w33976

State of the Art: Economic Development Through the Lens of Paintings

Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, an...

www.nber.org

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Florian Ederer @florianederer.bsky.social · Sep 3

We usually rely on GDP, trade, or wages to study the past. This amazing paper flips the script.

It analyzes 630,000 paintings (1400-2000) to extract emotions and shows how art tracks living standards, wars, inequality, and even climate shocks.

(How is this economics? Everything is economics!)

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Florian Ederer @florianederer.bsky.social · Aug 26

Absolutely not

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Florian Ederer @florianederer.bsky.social · Aug 22

Nascent competition, killer acquisitions, acquihires — join Meghan Rissmiller, Michaela Spero, Rahul Rao, and me for an American Bar Association Antitrust seminar on how innovation competition should be accounted for in merger control.

September 10
12-1pm
www.americanbar.org/events-cle/m...

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Florian Ederer @florianederer.bsky.social · Aug 13

Great in-depth piece on the Texas v. BlackRock common ownership lawsuit
www.mlex.com/mlex/article...

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Florian Ederer @florianederer.bsky.social · Jul 30

Who is Maurice R. Greenberg?!?

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Florian Ederer @florianederer.bsky.social · Jul 30

Yes, absolutely. This is strictly about US national welfare.

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Reposted by Florian Ederer

Joanna Bryson @j2bryson.bsky.social · Jul 30

More evidence of market / power concentration, cc @helenamalikova.bsky.social via @conjugateprior.org who recommends @florianederer.bsky.social as a follow.

From the funders' perspective, it's a lot easier to "cash in" via a sale, so how can governments encourage them to accept the risk of an IPO?

Andrew Marder @andrewmarder.net · Jul 20

I do not like this trend.

From "The Great Start-up Sellout and the Rise of Oligopoly" by @florianederer.bsky.social and Bruno Pellegrino.

florianederer.github.io/startups_P&P...

"Number of VC-backed start-ups that exited via an initial public offering (black) or an acquisition (gray) by year." IPOs are declining over time, Acquisitions are increasing over time.

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Florian Ederer @florianederer.bsky.social · Jul 30

Congrats!

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Florian Ederer @florianederer.bsky.social · Jul 30

But what you also really need to make this work is that there is no retaliation by other countries and the tariff revenue is properly spent on reducing (distortionary) income taxes for domestic consumers.

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Florian Ederer @florianederer.bsky.social · Jul 30

The government collects tariff revenue equal to c+e, which is the tariff t times imports M₂=D₂-S₂.

The net effect on national welfare is e-(b+d), which can be positive if e is sufficiently large.

How large e is depends on how much market power the US has (Pᵂ goes to P*).

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