@profsufi

Bruce Lindsay Professor of Economics and Public Policy at Chicago Booth

amirsufi.net/
Joined October 2012
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Starting in 2011, the Brazilian government tried to boost economic activity through aggressive household lending through government-owned banks. Is "household credit as stimulus" a good idea? A new paper with Gabriel Garber, @AtifRMian, and @jacopont (1/N) nber.org/system/files/workin…
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There may be an important role for governments in developing household credit markets to help with risk-sharing, house purchases, and education financing. But the Brazilian example suggests that using household credit to juice economic activity can end badly (5/N)
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The results from Brazil also fit into the broader global picture that sharp rises in household debt predict an economic downturn. Brazil certainly fits the pattern. And now all eyes on China, which appears to be in a similar dynamic (N/N)
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Amir Sufi retweeted
NBER
@nberpubs25 Oct 2021
A major government credit program in Brazil resulted in higher borrowing by public sector employees with low financial literacy at the expense of higher volatility and lower average consumption, from Gabriel Garber, @atifrmian, @jacopont, and @profsufi nber.org/papers/w29386
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We live in an extremely low interest rate environment. What are the consequences for industry competition and market structure? This is the focus of the recent study we released (joint with Thomas Kroen @ErnestLiuEcon @AtifRMian). A thread (1/N) bfi.uchicago.edu/wp-content/…
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The stakes are high, because there is a growing body of research connecting market concentration to the decline in productivity growth. Our study suggests that low interest rates are an important link in the chain (6/N)
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As a general point, the literature on market concentration could benefit from an injection of finance scholarship! I think finance is an important part of the overall explanation for trends in market concentration over the past 30 years (N/N)
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NBER
@nberpubs18 Oct 2021
Falling interest rates disproportionately benefit industry leaders, especially when rates are already low, from Thomas Kroen, @ErnestLiuEcon, @atifrmian, and @profsufi nber.org/papers/w29368
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Atif Mian
@AtifRMian18 Oct 2021
Are very low interest rates market neutral? Or do low rates tend to tilt the scale in favor of market leaders, thus reducing competition? We have a new empirical paper out that suggests falling rates help the rise of superstars A short thread ... nber.org/papers/w29368?utm_c…

Falling Rates and Rising Superstars

nber.org
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New paper by @ErnestLiuEcon @AtifRMian @profsufi & Tom Kroen shows that lower rates benefit industry leaders; more so as r➡️0. Links low r and high concentration as in earlier theory paper: scholar.princeton.edu/sites/… Falling Rates and Rising Superstars nber.org/papers/w29368#.YW10…
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Can’t even explain yet to my non-Econ friends just what a revolutionary force these three economists who just won the Nobel created. My book on causal inference has a blurb by Guido on the back and I sent one to Angrist with the inscription “thank you for inspiring a generation”
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Alex Mas
@AMLabEcon11 Oct 2021
Uncorking the Champagne here! This is a win for labor economics, modern empirical microeconomics, and three economists who were at the center of a revolution.
The Nobel Prize
@NobelPrize11 Oct 2021
BREAKING NEWS: The 2021 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded with one half to David Card and the other half jointly to Joshua D. Angrist and Guido W. Imbens. #NobelPrize
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Congrats on a well-deserved Nobel Prize for @metrics52, a fantastic advisor, scholar, and teacher. Rock on, Josh! (screenshots courtesy of his sneaky metrics TA in March 2020)
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