"Panelists described tariff management as a round-the-clock challenge for customs teams and brokers." finance.yahoo.com/news/borderl...
More complexity + constant changes = higher costs, more mistakes, more enforcement, & more penalties.
Big waste of resources.
The “Consumer Cash Pile” just hit a new record of $21.8T in Q2 2025, up from $14.8T in 2019.
• Top 1% and higher-income brackets have 7%–25% more cash than in 2019, even after adjusting for inflation.
• The bottom 20% is the outlier, now holding 20% less cash than pre-COVID. #EconSky
From the @wsj article, “Why Microsoft Has Lower Borrowing Costs Than the U.S.”
#economy #markets #bonds
“.. You can only finance your consumption through credit for so long,” he said.
@marketplace.org @scottlincicome.bsky.social
www.marketplace.org/story/2025/0...
Undermining the Fed to get lower rates now is like ripping the batteries out of your smoke alarm because it’s beeping. It’s quiet for a bit. Then your house burns down. Credibility anchors expectations; expectations anchor inflation.
The St. Louis Fed found that occupations with higher AI exposure rates saw much larger increases in unemployment rates from 2022 to 2025 #EconSky #AI #Unemployment
On day 4, this is a new frontier
This is NOT cutting off new funds for research (see NIH review suspension)
These data were already out the door
It COSTS resources to yank it back
This is eliminating data access so we can’t see what is happening to us
Just had our data access rescinded for a projected using federal microdata to study and reduce disparate impact in housing markets.
Using the results shown below and others, we estimate that couples in Germany act as if they value women's earnings at 48 cents on the Euro, compared to men's earnings. In Sweden, it's 80 cents on the Euro. Full paper here: bit.ly/MTO-T
New paper: benjaminmoll.com/challenge/
Priority deadline *tonight* for our predoc position!
Economics BlueSky feed Post with: #econsky (emojis no longer work)
Lots of new econ lovers here & lots of new resources. A🧵.
The #EconSky feed built by @paulgp.com is the central place for econ discussion here.
Displays posts with that tag. Click here, Pin it. Shows up as a tab on far right of ur Home screen ribbon
8 more resources...
bsky.app/profile/paul...
“We find an additional $1 spent auditing taxpayers above the 90th income percentile yields more than $12 in revenue, while audits of below-median income taxpayers yield $5.”
1/🧵
Popularity of token money is ⬆️ to allocate class seats, food donations, holiday homes, …
My #JMP asks
1️⃣Does price-setting with tokens work as in normal markets?
2️⃣Can token money have advantages even when using real money is possible?
Surprising answers: NO, YES!
#EconJobMarket #EconSky
🚨JMP Thread 🚨
🚰🏡Water scarcity is a global challenge, especially in the context of climate change. How do local water scarcity management policies affect housing markets, water use, and welfare? My job market paper explores these questions in the Front Range of Colorado.🧵
There has been little change in socioeconomic diversity at elite US universities over the past *century*
I'm also feeling "Do people respond to incentives? Evidence from Swedish administrative data" but sometimes *how much* they respond is important to measure 😅
"We Wrote a Model Where People Live Forever and Never Make Mistakes: Our Policy Recommendations" 😂
Nonlinear pricing breaks the tight link between markup dispersion and misallocation across firms. Instead, significant misallocation across consumers of the same firm, is found, from Gideon Bornstein and Alessandra Peter https://www.nber.org/papers/w33144
Cheater 😜 but thanks for the Zen, nonetheless
🤩 you win
Post a picture you took (no description) to bring some zen to the timeline.
I tell some version of this to my students when introducing experimental methods.
Experiments/empirical studies are joint hypothesis tests. If you reject, it could be that the model is wrong. Or that your study is not actually testing the theory (poor design, too much measurement error).
Now arriving at #EconSky !
Several of our finest minds—> @lkatz42.bsky.social @susanathey.bsky.social @dacemoglumit.bsky.social et (many) al.!
And our top journals—> @qjeharvard.bsky.social @jpolecon.bsky.social @reveconstudies.bsky.social @aeajournals.bsky.social
Tell your colleagues it's time.
We’re hiring pre-docs!
Gideon Bornstein, Sergio Salgado, and I are accepting applications for a full-time pre-doc. Work alongside us at Wharton on research in macroeconomics, household finance, and inequality. Priority deadline is *Nov. 26*
Apply here: wd1.myworkdaysite.com/en-US/recrui...
It’s hard to overstate how much people hate inflation—and the lasting scars this recent surge caused. People across the board, even Democrats, mainly blamed the government (see the figure👇). Check the summary 🧵for "Why do we dislike inflation?" here: x.com/S_Stantcheva...
AI explodes the scope for price discrimination.
Just look at this quote.
R sentiment up 25 points, D down 15 points.
The "Republicans cheer louder and boo harder" theory of consumer sentiment is evidently alive and well
www.briefingbook.info/p/asymmetric...
@briefingbook.bsky.social
New version up now: “A Learning Model of Financial Instability.” As long as agents put sufficient weight on new information, learning from asset returns leads to instability that drives endogenous booms and busts. Revision has some new results & robustness: www.dropbox.com/scl/fi/l5tk9...
🚨 Conference Deadline Rundown! 🚨
It's that time of year #finsky & #econsky! Time to submit those fresh papers. Below is my list. Please add any I missed - especially in econ!
Nov 18/19
WFA: westernfinance.org/conference/
ASU: finance-conference.wpcarey.asu.edu
UKY: www.uky.edu/financeconfe...
🧵
