Centennial Endowed Chair, Professor of Economics @UnivMiami @UMiamiBusiness
Coral Gables, FL
Joined May 2009
- Tweets10.5K
- Following991
- Followers7.7K
- Likes24K
Noah Williams retweeted
Italian Sausage recieves congratulatory phone call from the president after winning first sausage race in World Series History.
“Meet Wharton’s Newest Faculty”
youtube.com/shorts/Bq0hq1Fuq…
I know who taught Hanno
A cornerstone of modern economics is that governments respond to incentives, just like other agents, and once they have developed and rolled out a new tool to tax people, they're likely to keep using it, regardless of what the law says. They can't credibly commit to not doing that. And billionaires may understand that governments will do just that.
Thinking about incentives rather than just looking at the text of the law is what economists do.
“Economics and Political Science shows the most pronounced growth in
Facts/Truth Claims of any subfield… This reflects these disciplines’ ongoing turn toward quantitative and experimental approaches… Identity showed only marginal growth before a modest uptick in the most recent years, suggesting the identity-focused rhetorical shift documented elsewhere has barely touched Economics and Political Science.”
Doubly ironic:
“The irony — and danger — is that in the age of A.I., the thinking fostered in the arts and humanities is increasingly urgent. The domination of business schools is not only physical and financial; it is intellectual, and it is crowding out liberal education.”
The paper has been 1 week away for 3 weeks now, due to travel & content changes. But that's settled now, so maybe one more week?
Meanwhile, here's some distributional outcomes for transitions between stationary equilibria in a heterogeneous agent model with aggregate risk
Travel and other delays, so no paper yet, but here's a result and illustration:
If mass near borrowing boundary decays at rate 1+α (in aggregate risk scale), then the true stochastic response converges to the sequence space Jacobian (@a_auclert @ludwigstraub) at rate α.
Can construct non-convergent examples, but in standard Krusell-Smith α=1.
