An interesting paper from the Cleveland Fed: increased opioid prescriptions can explain 44% of men's labor force participation rate decrease since 2001.https://buff.ly/2u2h3H9
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Replying to @sonyasupposedly @sonyaellenmann
It's not actually a huge result. Men participating in the labor force decreased by 3% over 15 years (I believe this is after age adjustment), and they are saying 44% of that (= 1.3%) is due to opioids. 1/
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Replying to @stucchio @sonyaellenmann
They are also not the first people to observe the association. Alan Krueger, for example, has also published that a huge number (about 40%) of prime aged men outside the labor force regularly consume opioids. https://www.bostonfed.org/-/media/Documents/economic/conf/great-recovery-2016/Alan-B-Krueger.pdf … 2/
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Replying to @stucchio @sonyaellenmann
The novelty in this paper is that this result persists after accounting for proxy measures of what labor force participation rates *would otherwise be* without opioids. 3/
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Replying to @stucchio @sonyaellenmann
One useful instrumental variable, which these authors wisely stayed away from, is the effect of the Obamacare medicaid expansion. However, that expansion does provide variation for their statistical tests to exploit (even without using it explicitly)...4/https://spottedtoad.wordpress.com/2017/09/12/summary-of-posts-on-the-obamacare-opioid-connection/ …
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Replying to @stucchio @sonyaellenmann
since it introduces variation in opioid usage uncorrelated to economic factors. tl;dr; the novelty from this paper is that you can't easily wave away the result as "it's the economy driving opioid usage", which was a possible objection to Kreuger.
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Replying to @stucchio @sonyaellenmann
In summary, this paper provides compelling evidence that opioid usage or some strong non-economic correlate is reducing labor force participation. Example of a non-economic correlate, disability caused by the increasing number of, um, service sector jobs vs industrial ones? 6/6
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Replying to @sonyasupposedly @sonyaellenmann and
sugar consumption has been falling since 2000, the magic year of suicide/opioid death nadir
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I don’t really believe this but it’s my favorite new troll - opiates bad substitute for sugar
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Replying to @literalbanana @sonyaellenmann and
itself a bad substitute for cigarettes
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Replying to @literalbanana @sonyaellenmann and
Bringing back smoking is one of the planks of Hundoism along with teen pregnancy, dueling, beavers, and cramming nuclear reactors into as many things as possible. Will solve all extant crises.
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