To celebrate the new year, we commissioned a short story by Robin Sloan, best-selling author of Mr. Penumbra's 24-Hour Bookstore and Sourdough.
It's a bit of a love-letter to Lawrence KS, and a celebration of learning new things.
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Chad Jones
@ChadJonesEcon
Economics professor at Stanford GSB
Joined May 2020
Chad Jones’s Tweets
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Updated WP: "America, Jump-started: World War II R&D and the Takeoff of the U.S. Innovation System"
The impacts of one of the largest public R&D investments in U.S. history on the direction & organization of innovation. Joint w/ Bhaven Sampat.
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2022 has been a fantastic year for papers about growth/innovation and firm heterogeneity. Here is a short thread summarising the ones I enjoyed reading the most.
In no particular order 🧵👇
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Attention scholars:
To promote research on the issue and draw together a diverse set of scholars, the NBER will convene a conference on the causes and consequences of low fertility rates -
Cambridge, MA, June 1-2, 2023.
Consider submitting a paper! nber.org/calls-papers-a
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announces Rebecca Diamond, Professor of Economics at Stanford GSB as the 2022 Elaine Bennett Research Prize winner! Visit aeaweb.org/about-aea/comm for the full announcement. Congratulations!
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Congratulations to Ben S. Bernanke, one of three recipients awarded the 2022 in Economics “for research on banks and financial crises.” Bernanke was an assistant professor of economics at Stanford GSB in the early 1980s. #nobelprize
Photo Credit: Ed Souza
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What is the contribution of population growth to welfare growth? Join us on Monday, 1pm EST/ 7pm Paris, for a presentation by (joint with #Mark_Bils ).
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NEEP webinar next Monday 3rd at 7pm Paris time (1pm New York time)!!!!
@ChadJonesEcon (@StanfordGSB) presents:
"Population and Welfare:
The Greatest Good for the Greatest Number"
(with @PeteKlenow #Mark_Bils @adhami_mohamad).
Zoom link? Register at sites.google.com/view/welfareee!
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Very cool presentation of what happens to economic growth if innovation can be automated -- not what you might guess! Great job...
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New post! mattsclancy.substack.com/p/what-if-we-c
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Taxing Top Incomes in a World of Ideas
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The only thing I would add for macroeconomics presentations is **Present your economic environment (technology and preferences, no prices!) at the start of your model, one slide if possible** Not sure why we've lost that social norm. 2/2
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Just came across this wonderful guide to presenting economics papers by : faculty.wcas.northwestern.edu/mdo738/present 1/2
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Econometrica July 2022 - Volume 90, Issue 4 is now online
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After WW2, 8m ethnic Germans were expelled from their homes in Eastern Europe and transferred to Germany. Their settlement increased long-run productivity in the receiving counties. The results are quantitatively in line with a spatial model of growth.
econometricsociety.org/publications/e
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Can exponential growth occur if productivity is the best draw from a probability distribution? A video presentation (based on NBER SI) of my paper "Recipes and Economic Growth: A Combinatorial March Down an Exponential Tail."
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Very sad news
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I was just informed that Berthold Herrendorf (Arizona State university) died. 
Berthie and I went to the same high school though years apart. We used to have beer over christmas when we both visited our parents in our home town. I loved his humor. He will be greatly missed. RIP
Berthie and I went to the same high school though years apart. We used to have beer over christmas when we both visited our parents in our home town. I loved his humor. He will be greatly missed. RIP1
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On July 1st 2022 Alessandro Lizzeri stepped down as Co-editor of Econometrica at the end of his term. We are very grateful to him for his contribution to the review process and the opportunity to work with him on editorial matters.
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Inequality has risen sharply in the US since the 1980s. This article shows that about 50% of the observed changes in the wage structure are due to the effects of automation technologies on workers with low levels of schooling econometricsociety.org/publications/e
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Ignore the haters. Living standards have generally improved greatly over the last few decades.
We have 24 charts from to prove it.
fullstackeconomics.com/24-charts-that
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I remember breaking down to my Ph.D. advisor about how stupid I felt while troubleshooting a problem in my project when she handed me this paper. Years later it is still relevant to young students starting off in Science. It's ok to feel stupid, we all do on a regular basis.
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I really enjoyed "Dale W. Jorgenson: An Intellectual Biography," written by my friend and coauthor John Fernald. frbsf.org/wp-content/upl h/t
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, Benjamin Faber, Davin Chor, Giovanni Maggi, , Samuel Kortum, , Jingting Fan, Arnaud Costinot,
Agenda:
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A 🧵with some international comparisons of G7 economic performance in the COVID recession and recovery:
1. GDP. Strong recoveries everywhere, generally stronger in the United States.
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Does the R&D boom in China yield productivity growth and how much? We structurally estimate an endogenous growth model with innovation and imitation using firm-level data. R&D is an important growth source for China but R&D misallocation reduces its effect econometricsociety.org/publications/e
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A great write-up of the career of Stan Fischer, who just received the central banking lifetime achievement award. For many of us, he is the North star. Congratulations Stan
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I am equally grateful to , who will welcome fellows among their other predoc research fellows - thanks in advance for helping the PhDEI transform lives with access to graduate-level education!
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We are grateful especially to @HooverInst for the support they will provide along with that of the @SloanFoundation. Hoover’s commitment to improving the human condition involves recognizing the need for greater access to education; we are proud of our coming association.
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We put together a team of macro-, micro- and energy economists to think about the question: what would be the effects on the German economy of a stop of energy imports from Russia?
In short: moderate, especially in combination with the right policy response.
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"What are the macroeconomic & distributional consequences for Germany of a stop of Russian energy imports?" Our @ECONtribute policy brief provides an answer
@BachmannRudi @DBaqaee @christianbaye13 @kuhnmo @andreasloeschel @ben_moll @APeichl #KarenPittel @MSchularick
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Congratulations to my amazing colleague and friend Sebastian Di Tella -- we just voted him tenure at the Stanford GSB! Hurray!
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This Tuesday, acclaimed economist hosts "Are Ideas Getting Harder to Find?", a talk on economic and exponential growth as part of our Norton Economics Speaker Series! Register here: seagull.wwnorton.com/events-economi
#EconTwitter #TeachEcon
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Definitely worth seeing if you are interested in dynamic economic models with heterogeneous agents!
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Excited to present "Solving Heterogeneous Agent Models with the Master Equation" at the Early Career Scholars Session #ASSA2022. Tomorrow Jan 8, 12:15-2:15pm ET.
Details: tinyurl.com/2p8uvpcy
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For many years, I asked friends why we don't have a journal for "A Simple Version of the _____ Model." But the Annual Review of Economics now fills the role perfectly! Other favorites? 6/n (END)
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One of the most important strands of recent growth research concerns the diffusion of knowledge. Paco Buera and Bob Lucas have a wonderful overview of this literature in "Idea Flows and Economic Growth" annualreviews.org/doi/abs/10.114 5/n
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Firm dynamics and growth are central to this brilliant overview by Philippe Aghion , Ufuk Akcigit , and Peter Howitt, "The Schumpeterian Growth Paradigm." annualreviews.org/doi/abs/10.114 4/n
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Another favorite ARE paper by Erzo Luttmer on "Models of Growth and Firm Heterogeneity" shows the stunning stability of the Pareto distribution for the size of firms and the role of the "Luttmer rocket." annualreviews.org/doi/abs/10.114 3/n
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The most cited paper in the ARE is a personal favorite, Xavier Gabaix on "Power Laws in Economics and Finance" (2009). A great tour of mechanisms and facts to help us understand cities, firms, incomes, and wealth. annualreviews.org/doi/abs/10.114 2/n
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A thread to celebrate one of my favorite journals in economics: the Annual Review of Economics. The papers are excellent introductions to state-of-the-art research, both models and empirics. annualreviews.org/journal/econom 1/n
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Welfare for Black Americans was 43 percent of that for White Americans in 1984 and rose to 60 percent by 2019, but a large gap remains, from , , and nber.org/papers/w29539
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This week's paper is "How to Build an Economic Model in Your Spare Time", an essay from Hal Varian. While the essay is meant for economics graduate students conducting original research, it contains wisdom that can apply to anyone seeking ideas.
📝 fermatslibrary.com/p/e2e6484d#ema
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Join us 10/15 to hear Janice Eberly discuss how economists can expand study of questions related to race to illuminate ways that structures around race influence the allocation of economic resources.
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