Newspapers have an extremely expensive product. They have to pay for it somehow! You can’t give away an expensive product for free forever! No one on the internet likes paying for access to content. After 35 years we…
I stand by my statement. I’d love an estimate from you (or anyone) about the marginal effect on the profession’s “legitimacy” (which is what? and how’s it measured?) from having the prize include Nobel’s name vs. not…
Sure… Mokyr’s northwestern website has links to a lot of his papers. An extremely crude selection rule: Anything published in the American economic review, quarterly journal of economics, journal of political economy…
You can start with a used copy of an older edition of mankiw’s text which is a standard undergrad reference. Barro also has an old undergrad macro text which is good The gap between undergrad macro and professional…
Economist here… An unexpected (to me!) prize but definitely a good one. What’s notable is that mokyr’s research is very, very accessible to a layman. You can read his books and understand them nearly perfectly without…
If you read the review, you will see the author notes that issue pretty often and specifically discusses ways in which the oldest book he reviews (from 2014) both is and isn’t useful. It’s worth reading
Why stand up and not use your legs at all?? People have rowed it. This is a weird stunt that won’t prove anything. If he (magically) made it in a week people would still fly. What’s the point? Don’t say “raising…
Agree that these are very very hard industries in which to secure employment. At the least the anecdote is not that informative about the effects of AI, given the details.
(2021)
The funniest thing about the reaction from all of his neighbors is that none of them are willing to do the one thing that really would annoy Zuckerberg and probably make him move: build multi story, multi tenant housing…
Entirely useless recommendations and very dubious empirical claims here. Let’s take them one at a time…. - “The climate crisis and socio-ecological issues are broadly absent from economic curricula.” -> I don’t believe…
I have a PhD in economics with a specialization in antitrust policy. Fact: “Matt stoller gets big, important issues wrong in antitrust all the time and his analysis shouldn’t be taken seriously.” Source: me You are…
Not surprising at all to hear that Matt Stoller got the economics of an antitrust issue wrong. I appreciate the attention he brings to the topic and his diligence in digging up stories but his own analysis is often just…
I would love to see more of their game theory example. Having experience teaching the subject myself, what I saw on that page is about the first five minutes of the first class of the semester at best. The devil will…
Great question! And a great example of why the central question in any antitrust issue is defining the market. Define it narrowly enough, and Firm A buying Firm B might create a monopoly - the regulator cannot approve…
How do you handle the very well known limits of LLMs in your especially-sensitive use case? Hallucinations are the leading example. Health queries are a really bad place to do even mild “imagining” of responses.
Great piece and deserves to be complemented by the time series of daily outlays from the US treasury starting Jan 20 compared to the last two years. Elon Musk is failing to cut American spending…
The large tech firms get a surprisingly large amount of hate on antitrust issues on this website for startups so I appreciate your point bc I think it’s often missed.
Of all the things which are never going to happen, I put universal basic income at the top of the list. Faster than light travel seems vastly more likely than universal basic income. I don’t believe we can pay for it,…
There are plenty of people working on the application of ML in economics, including NN methods, and including in macro. That’s a totally different class of model to this agent based approach. People in the (small) agent…
I don’t agree that it doesn’t make sense. It’s a good approximation a lot of the time. Also: from your comment I’m pretty sure you don’t have the background (correct me if that’s wrong) and so don’t know what it really…
Sure it’s just macro. Ljungqvist and Sargent is a standard grad level text. Acemoglu has one with a growth focus. Miao is another one. Stachurski and Sargent is one focused on computational issues. Stokey Lucas and…
There’s a whole discipline which does nearly that, though they do not use this style of agent based model. Generally agent based models have numerous parameters which can take many values (endowments, preferences) and…
No. There is no macroeconomist who wouldn’t adopt these approaches if they were “better”. Agent based models have been around since the 1980’s at least. No one uses them in central banks, no one uses them in industry,…
What individuals may or may not understand is irrelevant. The professional staff at Treasury or Commerce will include a variety of people with a lot of relevant knowledge and experience. Then there are people who…
Newspapers have an extremely expensive product. They have to pay for it somehow! You can’t give away an expensive product for free forever! No one on the internet likes paying for access to content. After 35 years we…
I stand by my statement. I’d love an estimate from you (or anyone) about the marginal effect on the profession’s “legitimacy” (which is what? and how’s it measured?) from having the prize include Nobel’s name vs. not…
Sure… Mokyr’s northwestern website has links to a lot of his papers. An extremely crude selection rule: Anything published in the American economic review, quarterly journal of economics, journal of political economy…
You can start with a used copy of an older edition of mankiw’s text which is a standard undergrad reference. Barro also has an old undergrad macro text which is good The gap between undergrad macro and professional…
Economist here… An unexpected (to me!) prize but definitely a good one. What’s notable is that mokyr’s research is very, very accessible to a layman. You can read his books and understand them nearly perfectly without…
If you read the review, you will see the author notes that issue pretty often and specifically discusses ways in which the oldest book he reviews (from 2014) both is and isn’t useful. It’s worth reading
Why stand up and not use your legs at all?? People have rowed it. This is a weird stunt that won’t prove anything. If he (magically) made it in a week people would still fly. What’s the point? Don’t say “raising…
Agree that these are very very hard industries in which to secure employment. At the least the anecdote is not that informative about the effects of AI, given the details.
(2021)
The funniest thing about the reaction from all of his neighbors is that none of them are willing to do the one thing that really would annoy Zuckerberg and probably make him move: build multi story, multi tenant housing…
Entirely useless recommendations and very dubious empirical claims here. Let’s take them one at a time…. - “The climate crisis and socio-ecological issues are broadly absent from economic curricula.” -> I don’t believe…
I have a PhD in economics with a specialization in antitrust policy. Fact: “Matt stoller gets big, important issues wrong in antitrust all the time and his analysis shouldn’t be taken seriously.” Source: me You are…
Not surprising at all to hear that Matt Stoller got the economics of an antitrust issue wrong. I appreciate the attention he brings to the topic and his diligence in digging up stories but his own analysis is often just…
I would love to see more of their game theory example. Having experience teaching the subject myself, what I saw on that page is about the first five minutes of the first class of the semester at best. The devil will…
Great question! And a great example of why the central question in any antitrust issue is defining the market. Define it narrowly enough, and Firm A buying Firm B might create a monopoly - the regulator cannot approve…
How do you handle the very well known limits of LLMs in your especially-sensitive use case? Hallucinations are the leading example. Health queries are a really bad place to do even mild “imagining” of responses.
Great piece and deserves to be complemented by the time series of daily outlays from the US treasury starting Jan 20 compared to the last two years. Elon Musk is failing to cut American spending…
The large tech firms get a surprisingly large amount of hate on antitrust issues on this website for startups so I appreciate your point bc I think it’s often missed.
Of all the things which are never going to happen, I put universal basic income at the top of the list. Faster than light travel seems vastly more likely than universal basic income. I don’t believe we can pay for it,…
There are plenty of people working on the application of ML in economics, including NN methods, and including in macro. That’s a totally different class of model to this agent based approach. People in the (small) agent…
I don’t agree that it doesn’t make sense. It’s a good approximation a lot of the time. Also: from your comment I’m pretty sure you don’t have the background (correct me if that’s wrong) and so don’t know what it really…
Sure it’s just macro. Ljungqvist and Sargent is a standard grad level text. Acemoglu has one with a growth focus. Miao is another one. Stachurski and Sargent is one focused on computational issues. Stokey Lucas and…
There’s a whole discipline which does nearly that, though they do not use this style of agent based model. Generally agent based models have numerous parameters which can take many values (endowments, preferences) and…
No. There is no macroeconomist who wouldn’t adopt these approaches if they were “better”. Agent based models have been around since the 1980’s at least. No one uses them in central banks, no one uses them in industry,…
What individuals may or may not understand is irrelevant. The professional staff at Treasury or Commerce will include a variety of people with a lot of relevant knowledge and experience. Then there are people who…