Twitter Economist; Scotland; Food;
Glasgow, Scotland
Joined August 2014
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- Following363
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1/9 New working paper with Spyridon Lazarakis (@lazarakis_s) : Public Debt Consolidation under Risky Human Capital.
Many economies want to rebuild fiscal space. But how governments deleverage matters for who gains and who loses.
Paper: raw.githubusercontent.com/ma…
8/9 Future generations can reverse the ranking.
At our central social discount factor, the welfare-maximising package is front-loaded for 3 of 4 uses of headroom. Front-loaded public investment financed by returns taxation gives an all-cohort welfare gain of 0.661%.
9/9 The takeaway: debt reduction is a package.
The debt path, financing instrument and use of fiscal headroom jointly determine the macroeconomic transition and the coalition of winners and losers.
Explore the results: intergenerational-welfare.ma…
Step aside breakfast cereal!
Buyers often make choices between differentiated products and negotiate prices specific to the choice. This paper specifies a model for this setting and estimates it on transactions data for the UK brick market.
New paper by @howardwsmith, Beckert, and Takahashi
#REStud
#EconX
Born too late to run N=30 cross-country regressions.
Born too early to enjoy the singularity.
Born just in time to pay $49.99 to debunk AI slop.
Sorry to shatter your dreams David, but @RefineInk begs to differ and took the scalpel to your slop in less than 30 mins 😃
refine.ink/app/session/3533e…
Put differently: not quite there yet (as others have already said)
New historical instrument just dropped
Kang Chao reports that Chiu Chang Suan Shu (classical Chinese text on arithmetic circa 100 BC) did not contain a formula for computing the area of a quadrilateral. So, land surverors and peasants used an approximation that overestimated the area! The problem was not solved until 1578! 🤣
The solution was trivial ofc: just deduct the areas of the four triangles from the area of the rectangle!
Changing your name to Albert A. Aalson to lock in first author for life.
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This is how I learned that any area outside a very specific NE zip code apparently counts as a low income country.
Real blast from the past with @germanshistory referencing my family's time favourite Christmas movie.
Our research on multicultural neighourhoods in Northern Ireland has been featured by the BBC!
bbc.com/news/articles/cp8zkd…
If you are interested in the paper, I did a thread about it a while ago - link in the replies!
🏘️ How much is a multicultural neighbourhood worth?
Our new working paper was just spotlighted by @EconObservatory: economicsobservatory.com/can…
We use a 400-year-old natural experiment to put a £ figure on diversity. 👇 #EconTwitter #Housing
🚨New Working Paper Alert!🚨
Defining Current and Expected Financial Constraints using AI: Reinterpreting the Cash Flow Sensitivity of Cash
with Rachel Cho, @ChristophGortz and Danny McGowan.
This insight is critical: it implies that cash flow sensitivity of cash is NOT a universal measure of financial constraints. Instead, it primarily reflects precautionary liquidity management by firms anticipating future funding issues.
Key takeaway: Timing of financial constraints is crucial in shaping corporate financial behavior. Our AI-driven textual approach opens new doors for accurately capturing and interpreting these constraints.
Full paper here: papers.ssrn.com/sol3/papers.…