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Perusing job market papers

GMU isn’t hiring this year, but I still enjoy going through the job market candidates to see what is new in the profession.  I’ll be blogging a few of the more interesting pieces I found, in the meantime here are some summary remarks from my investigations.  Keep in mind these are highly subjective impressions for […]

Skill mismatch unemployment is real and significant

Even during demand-driven recessions.  Part of the problem is that cyclical and structural causes of unemployment interact and magnify each other.  Here is the job market paper of Pascual Restrepo, one of the stars from MIT currently on the job market.  I turn the floor over to him: To study the effect of structural change […]

Larry Summers on technological unemployment in history

This bit is from the Q&A session: LS: So, I guess I think there is both a, you know, Keynes as usual I think was pretty smart and you know, Keynes began his essay on economic possibilities for our grandchildren by saying that there was this really pressing cyclical problem that had to do with […]

China prediction of the day

While the total amount of debt issued to pay interest is projected by Hua Chuang Securities to increase, it’s taking up a smaller portion of overall new credit. The firm predicts such borrowing will account for 45 percent of new total social financing — which includes bank loans, shadow banking credit and corporate bonds — […]

Syrian Refugees, Jelly Beans, and Murderers

A meme going around compares Syrian refugees to jelly beans: If i gave you a bag of 50000 jellybeans and told you 100 are poisonous, you wouldnt accept them right? Then why would we accept 50000 refugees if some of them are bad? I like jelly beans and numbers so I did a back of the […]

Friday assorted links

1. Arnold Kling’s books of the year.  And Scott Sumner outlines his forthcoming book on the Great Depression. 2. “Arguably the least appreciated resource for Islamic State is its fertile farms.” (noisy video at that link, sorry, but the content is interesting) 3. Historical estimates of Chinese gdp.  And where in the world is the […]

Leadership sentences to ponder

This sounds like a combination of a David Brooks column and a Robin Hanson blog post, and what could be better than that?: Surprisingly, the most effective leaders did not have the highest level of self-awareness. Indeed, the more they underrated themselves, the more highly they were perceived as leaders. We assume this is caused […]

How do students feel about older faculty members?

With the elimination of mandatory retirement, the average age of college and university faculty members has increased. While this has raised some concerns, relatively little research has tried to measure the impact of this aging on productivity inside the classroom. Using data from the website for a large sample of instructors in a broad […]

How important was the Sykes-Picot agreement anyway?

From the ubiquity of media reference to them, one might suppose that Sir Mark Sykes and Georges Picot were the only actors of consequence on the Ottoman theater in the First World War, and Britain and France the only relevant parties to the disposition of Ottoman territory, reaching agreement on the subject in (so Google […]

Further wounds for Obamacare

UnitedHealth may exit the provision of ACA plans: The nation’s largest health insurance provider, UnitedHealth Group, dealt a blow to the Affordable Care Act on Thursday when it warned it may stop offering coverage to individuals through...Show More Summary

Wednesday assorted links

1. “King says the bear was calm, but the workers tranquilized him for safety reasons before carefully removing the can.” 2. Bill Simmons interviews Obama. 3. “Yet as forbidding as Europa’s surface may be, just a few kilometers below lies the largest ocean in the known Universe.” 4. Caplan reviews Garett Jones The Hive Mind, […]

Can this be true?

Between 1989 and 2010, U.S. attorneys seized an estimated $12.6 billion in asset forfeiture cases. The growth rate during that time averaged +19.4% annually. In 2010 alone, the value of assets seized grew by +52.8% from 2009 and was six times greater than the total for 1989. Then by 2014, that number had ballooned to roughly $4.5 […]

My conversation with Cliff Asness

Here is the full transcript, video, and podcast of the chat.  Cliff was great from beginning to end.  The first thirty minutes or so were an overview of “momentum” and “value” trading strategies, and to what extent they violate an efficient markets hypothesis.  Much of the rest covered: …disagreeing with Eugene Fama, Marvel vs. DC, […]

Thursday assorted links

1. Glenn Loury on the recent troubles at Brown.  And should Princeton still use the Woodrow Wilson name? 2. Henry Rowen, economist and former head of Rand, has passed away. 3. A deaf couple discuss their marriage. 4. There is no great ketchup stagnation. 5. Intergenerational mobility in the Great Depression (pdf). 6. John Cassidy […]

The global reach of the Fed, and why it is time to discard Mundell-Fleming

Miranda-Agrippino and Rey have an important new paper out on global transmission of money shocks.  I find the abstract poorly presented, but here are the key sentences from the body of the paper: …US monetary policy has a significant effect on the leverage of US and European investors (particularly continental European and UK banks who […]

“Democrat Wins Mississippi House Race After Drawing Straw”

NYT: Moments after winning, Mr. Eaton, who raises cattle and grows timber and soybeans, attributed his win to a farmer’s luck. “There’s always happiness in a good crop year,” he said. A lawyer for Mr. Tullos said that a challenge … Continue reading ?

“Inglewood City Council’s new hours aren’t exactly welcoming”

LAT editorial: Earlier this year, the same council took advantage of a loophole in state election law to approve the construction of a giant football stadium without conducting a full environmental review or taking a vote of the people. Then … Continue reading ?

“Mysterious pro-Mitch McConnell group bankrolled by megadonors”

CPI: A secretive nonprofit group that helped boost Senate Majority Leader Mitch McConnell of Kentucky during his hotly contested 2014 re-election bid itself raised more money than McConnell’s challenger, Alison Lundergan Grimes, according to copies of the group’s tax filings … Continue reading ?

Extremists stormed the Radisson hotel in Mali’s capital, and at least 20 people are dead. These resources can help you learn more.

On Friday morning, a group of armed extremists took over the Radisson Blu hotel in Mali’s capital, Bamako, taking 170 staff and guests hostage. Malian, French, American and European Union forces quickly responded, storming the hotel and helping to secure the safe release of most of those held. Media reports vary as to the number […]

CBO: Tangled Web of Welfare Programs Creates High Tax Rates on Participants

The dozens of different programs that form our tangled welfare system often impose high effective marginal tax rates that make it harder for low-income people to transition out of these programs and lift of those programs and into the middle class. Show More Summary

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