Paolo Martellini
@MartelliniPaolo
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Assistant Professor @NYUSternEcon “I'm safe on Mars. Perseverance will get you anywhere.”
Joined July 2022
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Happy to announce that next Fall I will join the NYU community as AP at Stern Econ.
This and a lot more I owe to the constant learning experience that were my years at Penn, Minnesota, Wisconsin.
"Thierry, what is your favorite thing about America?" "New York City"
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Thinking about a pre-doc next year?
Come to
@NYUSternEcon
and work with me and
@and_joy_
on a wide range of topics in macro, spatial economics, and public finance.
And all of this in the one and only NYC!
@econ_ra
#predoc
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8th UMN-UW joint workshop. Thanks
@TimTkehoe
Ilenin and Manuel for having us.
Kim perfecting his selfie game.
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NBER Soccer 2023. The age distribution has a Pareto tail.
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The 1st Junior Macro Conference at LAEF could not have been better.
Thank you all for coming!
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2nd LAEF Junior Macro Conference ends at ‘Inspiration Point’. Thank you to the organizers.
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A class on the economics of pandemics should start from this plot
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Your favorite team of conference organizers (
@nickpretnar
, Job Boerma and I) is putting together the 2024 edition of "LAEF on the Lakes". A warm and windy Madison will host the meeting on May 3-4. Send us your (mostly)macro papers. Deadline: December 20.👇
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I used to watch Todd's lectures on human capital and development before being his coauthor. I will continue watching his lectures after writing a paper together.
I've been thinking a lot about how to structure this and what to cover! I hope it'll be useful.
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2 years later a lot of the conversation in the Democratic sphere is based on ideology, anecdotes, and some healthy insults toward economists because why not.
🚨New working paper🚨 with Constantine Yannelis
We study “The Distributional Effects of Student Loan Forgiveness”. We find forgiveness to be a highly regressive policy. Full cancellation would distribute $192 bn to the top 20% of earners, and only $29 bn to the bottom 20%. 1/15
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It’s not too late to submit your latest work to the most fun conference of the spring.
Deadline: December 20
Your favorite team of conference organizers (
@nickpretnar
, Job Boerma and I) is putting together the 2024 edition of "LAEF on the Lakes". A warm and windy Madison will host the meeting on May 3-4. Send us your (mostly)macro papers. Deadline: December 20.👇
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Woman at the bar counter asked to sit at a table instead because under New York law she can’t sit at the bar with her 3 yr old daughter present.
The amount of nonsense you Americans impose on yourself.
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1. The account of the White House should not be used for low level politicking.
2. The implied message is that those who take money from the government should not criticize it. While checks keep getting sent out.
Congresswoman Marjorie Taylor Greene had $183,504 in PPP loans forgiven.
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“This institutional neutrality is essential in vesting freedom of speech in our faculty members and students”
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@King_ofSweden
How was that Lucas's (maybe?) say, don't let the data get in the way of a great model
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@J2dubyas
We could have an open discussion about this, perhaps based on economic incentives and constraints, etc. But it’s the constant holier than thou attitude that feels unwarranted.
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@FPanunzi
"The right of one charged with crime to counsel may not be deemed fundamental and essential to fair trials in some countries, but it is in ours." (Gideon v. Wainwright (1963))
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@Simon_Mongey
@HannoLustig
@Noahpinion
A significant moment in the life of a macro paper lies in how long you try to answer Yes to the last question before accepting No as an answer.
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Always good to remember that the first sentence after "I have a dream" was a quote from the Declaration of Independence.
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Forget IS-LM or real business cycle.
The syllabus should be like “At the end of this class, you will see this tweet and start laughing at the intellectual dishonesty of the author.”
The largest ever decline in the federal deficit – thanks to President Biden’s leadership.
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@economoser
The estimated treatment effect is highly nonlinear. The marginal tie is null at the economoser’s level of elegance.
This phenomenon is known as “no dist-inction at the top”
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@ElliotLip
@skominers
I thought it was short for “I have this amazing insight but it’s too soon to share, stay tuned”
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The distinction is lost on too many people.
I maintain that these types of tweets should come form the @ JoeBiden account, while the POTUS account should be for official government business.
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@HellerHurwicz
@and_joy_
@IERJournal
@DonigerCynthia
@glviolante
@JoachimHxx
@SorryToBeKurt
@GoldenGophers
@UMNews
Once Minnesota, always Minnesota
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@wwwojtekk
I always liked the irony of putting the Wedding Feast at Cana, the biggest painting at Louvre and quite impressive if you ask me, right in front of the Mona Lisa. Where no one sees it.
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You know it's a realistic scenario because the scaffold is still there
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To more good economics.
I swore I wasn’t going to keep sharing these…
But 5k in exactly a year to the day? How neat is that?
Thanks to everyone who subscribes and has shared our work to spread the word! To more price theory 💪
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Ben Sasse with manifesto of the party that doesn’t exist.
“The small but important role of government, for the civic pluralist, is a framework for ordered liberty.”
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Most of the 5 hours of Supreme Court oral arguments yesterday reminded me of the 20minute debate spent wondering about what’s on the speaker’s mind during the intro in an Econ seminar.
Except that there was no model after that.
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@aledenicola
Trump deve sparire ma è una figura a suo modo marginale, un mostro che ridicolizziamo in pubblico. La sinistra populista è legittimata dalla classe dirigente (Università, media, corporate) che la rende impermeabile alla critica. E nel lungo periodo, più pericolosa.
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Una gemma nel dibattito italiano, da ascoltare integralmente.
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100 times this.
The high speed network I would build. Most legs are at or below two hours.
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@todd_schoellman
I started (thinking to) pronouncing them correctly in year 4 of my phd. Doing macro delayed the learning moment I guess.
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@rabinovich_stan
@economoser
@TaniaBabina
Economoser has his hands on the second, soon enough we'll start asking to grab one of those weights.
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@davidfromterra
@profstevek
Very exciting research. Can you tell us a bit more? For example, in the cross-section I imagine good peers and public goods to be correlated. How to separate them? For low income households budget constraints of some kind could play a role too.
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@DavidWiczer
@nick_bunker
The Beveridge curve is very stable over time! Out of the blue, let me share my pap…just kidding.
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@JohnHCochrane
128 years yesterday from the trial of Prof Richard Ely at UW: “We believe that the great state University of Wisconsin should ever encourage that continual and fearless sifting and winnowing by which alone the truth can be found”
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@benjamminlester
How about when it congratulates you but you just moved your wrist and it thought you actually stood up? I feel the guilt..squared.
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@fdelprato
Aspettiamo i sostenitori di questa grande campagna culturale con “nome cognome, IL”
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@sc_cath
@cremieuxrecueil
I wouldn’t put much weight on the top 100 or any specific school. We were interested in broad patterns (liberal arts, technical schools) in countries spanning a broad range of GDP per capita. Still not obvious that an earning based ranking lines up that well with proxy based ones
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Fun paper
So happy to see our work on optimal procurement with quality concerns finally published! Great pleasure working with Pino Lopomo and Nicola Persico 🙏 More on the paper below.
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@King_ofSweden
@MDrelichman
@pastagarofaloIT
Ironically yes and no. In the bimodal distribution of pasta in the US its market might be thin.
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"The stupidity, it burns."
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@ShengwuLi
Can it be that some people have Wait&Save pre-selected by default without even checking it's the cheapest? Then you charge them more sometimes and charge less to the 'shoppers'.
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@CaltechEconThry
Isn't this just the local convexity of the value function when you are close to the eligibility requirement for welfare programs?
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@CarloLCordasco
Yes, you are not doing that, but you seem to think most people would disagree. If so, as an economist I need an escape route, i.e. bringing explainability into a utilitarian framework.
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@BrianCAlbrecht
@ATabarrok
I agree. Still Arrow RE is same mechanism why a monopolist in good market has less incentive to innovate than an outsider - under free entry in innovation (Arrow wants monopoly in innovation too). I call Google the "monopolist" or just the firm with the last drastic innovation.
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@k_sonin
On reducing the likelihood of frauds, and many other points, I recommend this interesting documentary
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@EtienneWasmer
@glviolante
I see. But this is for France, Germany, Italy and Spain. Do you have the same plots for the Scandinavian? What I could find was a much lower cut in hours per worker cut there.
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@PastorellaGiu
@bravimabasta
@micheleboldrin
@stanzaselvaggia
Come si fa a parlare "di un importo che potenzialmente è 0€"? Fin lì proposta ha una logica, non condivisibile magari, ma poi perde senso. Le licenze devono aver valore perché la proposta sia utile. Quel valore si trasferisce tutto ai taxi. Si poteva almeno optare per una %.
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@valibaumann
@cremieuxrecueil
It makes sense to contrast with differences in 'quantity' of college graduates, for which we already have much better measures. As long as what we do is clear - I think we make it clear on page 2 - I am happy to disagree on the specific jargon.
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@MilenaAlmagro
@BetaAcademy
I once heard "econ seminars are free speech and a contact sport...combined".
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@FPanunzi
@IERJournal
@benjamminlester
@ruben_gaetani
Una garanzia in campo. Ma nome dietro la maglietta "Invisible Feet".
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@glviolante
Ah, thanks. But if that’s the reason, average working hours conditional on employment should be lower in those European countries. From a quick search it doesn’t seem to be the case, but I should check good sources.
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@EtienneWasmer
@glviolante
See my comment to Gianluca below. It’s from OECD. And it seems consistent with your plots when it comes to Ger-Fra-Ita.
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@valibaumann
@cremieuxrecueil
We clearly state upfront that quality stands for earnings in a common labor market. As for the assumptions you highlight, we provide an extensive set of robustness checks to relax each one of them. But please let us know if you still have specific concerns after reading further.
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@glviolante
Agreed! On the merit, it seems that total hours went down a lot more in US than Scand, while Etienne is right that in Ger-Fra-Ita measured hours/worker dropped a lot more than in US (so maybe a wash in aggr).
I should take that class!
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@aledenicola
Trump sarebbe una sciagura, non c'è dubbio. Ma il continuo ricorrere al concetto di "existential" per parlare della prossima elezione, e poi della prossima ancora, non smette di danneggiare il dibattito pubblico americano. Sempre un po' scettico poi nei confronti dei convertiti.
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@King_ofSweden
@MDrelichman
@pastagarofaloIT
I would say it is definitely above average but maybe not as good as of the high end you can find in the US (but rarely in Italy)
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@FPanunzi
@IERJournal
@benjamminlester
@ruben_gaetani
Nope. Non credo Dirk appendera' mai gli scarpini al chiodo
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@DavidWiczer
Good luck with that:). But I disagree, 1. is key. Trust in gov’t requires the separation (also in communicating to the public) btw the institution of the presidency and the president as a political candidate.
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@MilenaAlmagro
@BetaAcademy
There is still time to make it the social activity of the next UEA meetings
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@glviolante
A very interesting one. Also a question for the design of a richer transfer system that elicits actual needs vs misallocation–with the usual caveat of being reasonably implementable.
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@King_ofSweden
This is like the outcry about the border wall, just until Mayorkas said there is 'an acute and immediate need' of it. Whatever one thinks about these issues, I am not seeing any open letter signed by dozens of economists now.
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@cesarspa1
Indeed, trust in government starts from there. The peak might have been Trump televising a naturalization ceremony during the RNC convention in 2020.
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@CarloLCordasco
I suppose it’s easy for me to learn toward 0 too. I guess you are making a case for a non utilitarian perspective while I’m looking for ways to bring explainability within the utilitarian framework.
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@ben_golub
@CaltechEconThry
true, the level of betting must be off. but let's take beliefs+taste from the behavior of the high-income for get their level of betting. then how far can we go in explaining the slope wrt income?!
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@CarloLCordasco
I tend to agree but slightly deviating from the point I see one complication that has to do with the degree of general agreement on whether a specific conviction was “wrongful”. The rational nature of explainability helps create a shared view on the matter.
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@arpitrage
I imagine one reason why this would not happen is that government implicit insurance keeps those property values 'too high' now. If risk goes down, those area might simply lose the subsidy.
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