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Andrew Lilley Profile
Andrew Lilley

@andrewlilley_au

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All views personal & unsanctioned, most of all when I've made a graph.

Joined May 2013
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@andrewlilley_au
Andrew Lilley
3 years
NSW is the ideal setting to measure the severity of Omicron, and it is showing a CFR for Omicron that is <1/2 of Delta Five reasons it's ideal: *Prior infection is irrelevant (~2-3% of NSW is prior infected) *Delta cases were steady through Nov, making a stable baseline CHR 1/15
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@andrewlilley_au
Andrew Lilley
3 years
This is definitely the best vaccine efficacy paper released: *Randomly selected HHs tested on a predetermined schedule (no voluntary testing and no selection issue) *Includes CT<30 only (high viral load) *By days since vaccination, not month of infection *Splits AZ/Pfizer x gap
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@andrewlilley_au
Andrew Lilley
5 months
Max has a problem: he's become the central political figure for Australia's largest socioeconomic problem - a shortage of homes. The solution to this is allowing more homes through rezoning and everyone who looks at this seriously knows it. But supporting this policy would 1/3
@NSWPolAlerts
NSW Political Alerts
5 months
Rose Jackson V Max Chandler Mather on housing last night
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@andrewlilley_au
Andrew Lilley
3 years
*Omicron became dominant extremely rapidly, so a change in the CHR will be noticeable *Accurate case surveillance w/ age breakdown and <1 day lag in test to case count. *Vaccination was largely complete by Omicron's arrival (at ~94% of adults), boosting was minimal. 2/15
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@andrewlilley_au
Andrew Lilley
3 years
It coincides with Omicron becoming dominant, and as such is evidence of it having a much lower measured CFR than Delta. Unlike other countries, we cannot explain this lower CFR by selectivity towards reinfections - prior infections only make up 2-3% of NSW's population.
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@andrewlilley_au
Andrew Lilley
4 years
Some good news for JMCs on #EconTwitter . On a quick scrape of the AEA's job listings, the private sector seems to be holding at 90% of last year's listings at this point in time, and nonUS academic jobs are at ~65%. (Bad news is that US academic jobs at ~35% as bad as expected).
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@andrewlilley_au
Andrew Lilley
3 years
Thirdly, it's clear that prior infection (w/ vax) produces lasting immunity. Efficacy is still >90% after 3 months, so breakthrough risk is 70% lower than w/ vac alone. (NB: studies of prior infection on its own also find ~90% after a year). Some hopeful news for herd immunity.
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@andrewlilley_au
Andrew Lilley
3 years
Firstly, as many suspected, adenovirus doesn't wane as quickly as mRNA (if it does at all). They're equal after 3 months and the authors suggest AZ will likely be better after 4 months.
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@andrewlilley_au
Andrew Lilley
3 years
NSW detected its first Omicron cases on December 2 and saw rapid genomic domination is likely now that >75% of cases are Omicron. (The gov have sequenced enough to say "it's mostly omicron" & they won't be sequencing anymore). Given the steadiness of Delta cases over the prior
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@andrewlilley_au
Andrew Lilley
5 months
He's bound to do more damage than anyone else could hope to.
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@andrewlilley_au
Andrew Lilley
5 months
Capital gains, negative gearing, these would all change prices by a couple percentage points. But only around 1/5th of voters use them, so they're an easy political scapegoat. The rest is zoning, yes Max people "really do believe" this!
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@andrewlilley_au
Andrew Lilley
3 years
Delta had a steady 12.5% hospitalisation rate from Sep through Oct, and it then started to fall a bit in Nov as fully vaccinated breakthroughs + child cases went from 30% to 75% of all cases. Then in December it began falling much more sharply - from 6.9% ten days ago to 3.6% now
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@andrewlilley_au
Andrew Lilley
5 months
lose him the next election as nearly every homeowner is against anyone increasing housing near where they live. So he has to make absurd claims like "pre Howard, house prices went up at about the same rate as wages" (?) and "so then CGT on housing matters more than zoning" 2/3
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Andrew Lilley
3 years
Update from Israel comparing all forms of protection including new data on boosters given and breakthrough infections (natural immunity from infection after vaccination). Shows that natural immunity will almost surely be part of reaching herd immunity.
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@andrewlilley_au
Andrew Lilley
4 years
@AlanKohler Adding the rest of the countries to the graph makes the story look much more complicated. It depends on the gamut of how bad the virus shock would have been, how effective the response was, and how strong the fiscal support. But yes deaths do worsen GDP on their own.
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@andrewlilley_au
Andrew Lilley
3 years
I wrote CFR a few times in this thread. Anywhere I wrote it I meant to write "CHR". Sorry, force of habit. It is too early to infer the CFR.
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@andrewlilley_au
Andrew Lilley
3 years
six weeks we can have a fairly good idea that the composition is somewhere between 60% and 90% Omicron. 4/15
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@andrewlilley_au
Andrew Lilley
5 months
The real shame is that I doubt he believes any of what he's saying, but judging by the reaction from the audience, he's winning this debate not just with homeowners but with young renters too! He knows just what to say to sound scientific and he's an excellent speaker.
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@andrewlilley_au
Andrew Lilley
3 years
We also can't explain it with vaccine evasion - vaccinations were largely completed, and 75% of cases in the last week of November / first week of December were already made up of fully vaccinated breakthroughs or children. In fact, this is likely to bias the change in measured
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@andrewlilley_au
Andrew Lilley
3 years
between becoming ill and being hospitalised. Each data point is an *estimate* (method described later) of that day's hospital admissions divided by *measured* cases from 5 days ago. The shaded orange region is the period in which Omicron rapidly became the dominant strain. 6/15
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@andrewlilley_au
Andrew Lilley
3 years
I've estimated the daily case hospitalisation rate in NSW by dividing hospital admisions today by cases 5 days ago (to avoid the growth bias that has been discussed elsewhere). The 5 day gap between confirmed case and hospitalisation comes from NSW's reports showing a 5-6 day gap
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@andrewlilley_au
Andrew Lilley
3 years
Early signs of waning efficacy of the Pfizer vaccine in Israel. (1/17) Israel has the best covid database globally which allows you to do something no other country does– split cases each week by vaccination status and by age decile. It was also the earliest to vaccinate.
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Andrew Lilley
3 years
In my opinion this a much cleaner estimate of CFR that is uniquely possible in NSW. I will continue to update this thread every few days and begin to construct ICU and fatality etimates as more data rolls in. Credit to @migga for the scraped daily series of hospitalisations.
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@andrewlilley_au
Andrew Lilley
1 year
Housing is cheap in Austria because it has ten times the density of Sydney. It has the same density as Camperdown. Less than half the city is zoned to exclude high rise. The community is involved in planning only after the building height exceeds 35m.
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@MChandlerMather
Max Chandler-Mather
1 year
The vast majority of their buildings (like this social housing complex) are medium density (about 5 storeys), which ensures a connection to the street, while densifying in a sustainable way.
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@andrewlilley_au
Andrew Lilley
11 months
The most popular smh column today asks why childcare costs so much if workers are paid so little. Short logic leap to "it's because it's for-profit." Profits in the sector are 10% and wages are 70% of costs. None of these stats appear in the article.
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@andrewlilley_au
Andrew Lilley
3 years
CFR upwards - vaccine evasion means vaccinated adults will also take over the share from unvaccinated children (with a much higher risk of hospitalisation). 9/15
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@andrewlilley_au
Andrew Lilley
3 years
Had a Twitter dm conversation with one of these three legends about forecasting last week. Gave me some good ideas - assumed it was a professional data scientist donating a lot of spare time. Nope-some mates in early high school. Awesome.
@covidbaseau
CovidBaseAU 🦠📊🇦🇺
3 years
BOOM! 12-15s can get the💉 Today the three of us who run @covidbaseau , Jack, Wesley and Darcy, had our first dose of the Moderna vaccine.🎉 Thought this would be a good time to share who we really are.😄 Thrilled that we will finally be included in our data!
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Andrew Lilley
3 years
The NSW case hospitalisation ratio (CHR) for Omicron stabilised at around 40% of the CHR for Delta (i.e. a -60% reduction in the CHR), controlling for indiv characteristics. At the population level, since Omicron cases show more selectivity to vaccinated persons it's -70% lower.
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Andrew Lilley
3 years
We have observed the aggregate CFR fall by ~50% over the last 10 days - what does that mean for the CFR for each Delta case v. Omicron case? We can trace out the relative CFR based on the estimated % of cases which were made up of Omicron 5 days ago (& assuming ~0% start of Dec).
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@andrewlilley_au
Andrew Lilley
3 years
US data is now showing the same waning for Pfizer (less so for Moderna). The decline each month in this paper is partly due to changing variants, but the measured 50% for July (95% CI 12%-62%) is clearly below the 87% in the first couple months. VE against hosp still high at 75%.
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Andrew Lilley
3 years
Secondly, against expectations, it's not likely affected by the delayed second dose. (Though note in the UK many of the <9 weeks were 6-9, not just 3-4 weeks.) But there's zero gap between regimens, so likely irrelevant.
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@andrewlilley_au
Andrew Lilley
3 years
Aside pt1: If you are wondering if there might have been a reason that Delta's CFR kept falling and contributed to the fall in the orange region, it's unlikely. Fully vaccinated breakthroughs can't have changed much in the first 2 weeks of December as unvaccinated adults have
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@andrewlilley_au
Andrew Lilley
3 years
A few caveats on method: I don't observe admissions directly (if you're from NSW health, please contact me), so I construct a hazard rate by taking published research on hospital stays in NSW by age, and weighting these by daily cases and their relative probabilities of
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@andrewlilley_au
Andrew Lilley
3 years
stayed constant at about 6% of the population, so they should remain ~20-25% of cases. (Any further drop would imply a very low effectiveness of the vaccines against Delta in the first ~3 months after vaccination). 10/15
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@andrewlilley_au
Andrew Lilley
1 year
Can anybody coherently describe what distinguishes "demand pull inflation" from "profit led inflation"? Both always meant "firms can charge higher prices because people are willing to pay more" but at some point bw the mid 2000 inflation and 2020 inflation, the name changed...
@RDNS_TAI
Richard Denniss
1 year
What is profit led inflation?…according to our research its a major driver of Australia’s high inflation…but according to the RBA and those who just reviewed it…not so much…Maybe the defenders of our monetary policy will call UBS some names as well? #auspol
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@andrewlilley_au
Andrew Lilley
3 years
But the vaccinated share of cases can't increase by much with Omicron - the first week of December already had 75% of cases in fully vaccinated individuals or children - it can't go much higher as 94% of adults were fully vaccinated already.
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@andrewlilley_au
Andrew Lilley
3 years
To pre-empt a well-informed objection to this - even if immunity did not change in this period, I'm measuring the change in CFR and that includes both the difference in virulence and the change in the distribution of vaccinated/unvaccinated cases. I agree.
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@andrewlilley_au
Andrew Lilley
3 years
hospitalisation. That's surely one of the reasons for the noise you see here. I seasonally adjust daily cases by their day of week and in the lower panel of the graph I adjust daily cases by age composition for their relative risk of hospitalisation. (Top panel is only s.a.).
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@andrewlilley_au
Andrew Lilley
3 years
And even if it tilts towards vaccinated adults, it will also tilt away from partially vaccinated teenagers and unvaccinated children, who are still lower risk than vaccinated adults.
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@andrewlilley_au
Andrew Lilley
3 years
Scotland study: two thirds reduction compared to Delta. Controls for age, vaccination status, and reinfections.
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@andrewlilley_au
Andrew Lilley
2 years
Allowing people to buy houses with super is a good idea. You want your retirement portfolio to hedge future consumption risk. Your retirement consumption basket is 1. Housing 2. Aged care 3. Food prices. But your default super portfolio in ASX instead pays you out in ...[1/4]
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@andrewlilley_au
Andrew Lilley
5 months
@DrCameronMurray Absolutely, but it's undoubtedly a constraint. The argument that if many homes are allowed right now then the planning system is not a constraint only works if everything is homogenous. (Most cars drive below the speed limit but the speed limit is a constraint regardless).
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@andrewlilley_au
Andrew Lilley
3 years
Contention: this is the both the most anticipated and best designed visualization of data that the federal government has ever released.
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@andrewlilley_au
Andrew Lilley
3 years
As for the questions of why it would be less virulent but more transmissible if that wasn't true for Delta, I have no expertise in this area whatsoever, but I strongly recommend following Francois Balloux - an expert who has had incredibly good judgment
@BallouxFrancois
Prof Francois Balloux
3 years
Great work by @GuptaR_lab and colleagues on Omicron suggesting: - High escape from NAbs - Reduced spike cleavage efficiency - Lower infectivity of lung cells - Similar/higher infectivity of epithelia - Impaired fusogenicity / ability to form syncytia 1/
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Andrew Lilley
4 years
With one exception, every person I've spoken to who did a predoc concurred with about 80% of this. It is always preceded with "please don't repeat this to anyone for obvious reasons." There are obvious alternatives - in Australia for example, there's the honors stream. You 1/N
@EconPreDocAnon
EconPreDocAnon
4 years
Seeing the discussion surrounding Econ pre-docs, I thought I would share my experience and my two cents (anonymously, as I wouldn’t do it otherwise). A (long) thread #EconTwitter 1/19
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@andrewlilley_au
Andrew Lilley
1 year
Storytelling has an enormous advantage over reality to create a knowledge consensus. This is a well crafted story, feels convincing (history and politics is alluring) but has almost nothing to do with why Australia does not have fixed rate mortgages.
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@andrewlilley_au
Andrew Lilley
3 years
To deal with a common query (sorry I cannot reply to everyone individually), the analysis includes the adjustment for the age composition of cases (I would not have considered doing it if this data weren't available, so many thanks to health NSW for the data). See the labels on
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@andrewlilley_au
Andrew Lilley
4 years
It is now becoming clearer that shutdowns do indeed delay the economic recovery, and we should be updating our beliefs about this as new data come in. See this short thread. 1/12
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@andrewlilley_au
Andrew Lilley
3 months
The monthly CPI release in Australia is easily the most difficult statistic to interpret. In this thread I’m going to explain the three most common pitfalls in reading the monthly CPI series and how to avoid falling into them. 1/5
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@andrewlilley_au
Andrew Lilley
2 years
Bluey will soon be ranked the #1 tv show of all time. IMDb maintain an official ranking of best TV shows which is planet earth (II, then I), breaking bad, band of brothers, Chernobyl. () The ranking is decided by the highest voted series, subject to
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@andrewlilley_au
Andrew Lilley
3 years
The other concern some have raised is what if Omicron just takes 10+ days to be hospitalised but Delta takes 5? This has always been a concern with analysing every variant, but we a) should have seen the relative delay in South Africa data and b)goes against clinician expectation
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@andrewlilley_au
Andrew Lilley
3 years
Preprint:
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@andrewlilley_au
Andrew Lilley
3 years
the top and bottom panel of the graph here. The bottom is age adjusted. The top is not. I only show the top because when I'm reading analysis I like to see the difference the author's adjustment made. Note the key piece of info is the recent reduction and cases have
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@andrewlilley_au
Andrew Lilley
3 years
Some data on the question: when will Australia reach phases 2 and 3 of reopening? Morrison’s benchmark is “when it is like the flu, we should treat it like the flu.” If we were to turn this into a clear principle, we should be in phase 3 by December of this year. (1/15)
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@andrewlilley_au
Andrew Lilley
3 years
Anything is possible but it can't be ruled in or out until the Omicron wave turns downwards and then we wait as many days as the expected lengthening of lag. (South Africa is the only place where the wave has ended and we haven't seen any evidence of this.)
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@andrewlilley_au
Andrew Lilley
3 years
I have been thinking about that puzzle that did the rounds here a couple months ago. The puzzle is in this graph (originally from a JPMorgan econ research note), that there’s a positive correlation between state-wide vaccination rates and case growth. Short thread below (1/14)
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@andrewlilley_au
Andrew Lilley
3 years
The second common query- this assumes that the time between test and hospitalisation is an average 5 days. That's true, I took that from the NSW epidemiological reports which say 5-6 days between feeling ill and being hospitalised. (Assumed a 1/2 day lag to test result so 5d).
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@andrewlilley_au
Andrew Lilley
2 years
Which basically start and end with: boost the supply of housing units. If you want house prices to come down, keep releasing housing units until 5% of them are vacant. To do that, you have to overpower the councils.
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@andrewlilley_au
Andrew Lilley
3 years
To be crystal clear, the analysis includes the empirical fact that 500 cases in 20-29yo has fewer predicted hospitalisations than 100 cases in people 70+. The limitation is I can't observe any further granularity in the 70+ bucket but hospitalisation is mostly flat there
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@andrewlilley_au
Andrew Lilley
3 years
First doses capping out all over Australia well before the 80% threshold is worrying. But for better or worse, it's just that we've exhausted people willing to get AZ, which accounts for the whole slowdown. Number of pfizer doses daily is still rising - we'll hit the target.
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@andrewlilley_au
Andrew Lilley
3 years
I get people are hesitant to conclude omicron is less virulent by looking at hospitalisation/death rates from SA, since they have 2w+ lags, and hospital cases are still backfilling from 10d ago. But there's a great reason which doesn't suffer these issues.
@andrewlilley_au
Andrew Lilley
3 years
@JamesWard73 The most important factoid is that 76% of hospitalised cases are incidental. You can argue ICU and death stats are subject to long lags of over a week, but the incidental hospitalisation rate is subject to only a few days lag and it has never been this high! It's less virulent.
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@andrewlilley_au
Andrew Lilley
3 years
skewed young for all of the last 30 days (ie pre omicron) not just the last 2 weeks (the change from Delta to Omicron), so the adjustment doesn't end up mattering very much for the drop of the last two weeks.
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@andrewlilley_au
Andrew Lilley
3 months
I think the policy of using subsidies to lower CPI is unequivocally a bad idea (it's just cash handouts with a little CPI measurement deficiency trick) but many economists are claiming it works through reducing measured indexation of benefits. A short argument that it can not.
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@andrewlilley_au
Andrew Lilley
3 years
The most important question for capacity to handle the Omicron wave is the progression of cases from hospitalised to ICU and death. In South Africa the progression from hospitalised to ICU and death for Omicron was 20%-25% of the rate of Delta. Preprint:
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@andrewlilley_au
Andrew Lilley
3 years
Today Pfizer released extended results of their trial data, showing efficacy against variants which circulated between Sep-Mar. The increase in infection risk 2-4 months after full vaccination is around 2.6x and in months 4-6 is around 4.3x, vs 0-2 mths
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@andrewlilley_au
Andrew Lilley
5 months
@DrCameronMurray I would entertain the argument that planning is not the principal binding constraint today right now, labour shortages now are, though planning has been the constraint in the past. However the price of land is an indication that it's expected to be scarce in the future.
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@andrewlilley_au
Andrew Lilley
3 years
Update on NSW case hospitalisation rate (CHR) for Omicron with three more days of data: basically the same. Many people asked for a (longer) distribution of hospitalisation times rather than using 5 days, and I have added that, but the final estimate is still around the same.
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@andrewlilley_au
Andrew Lilley
4 years
An update a month later: sad to see that US Academic jobs are still down 75%, nonUS recovered a little but still down 35%, US non academic jobs down 35%, US academic non tenure track jobs (postdocs etc) down 20%. Also, broken down by the type of academic job (AP/senior). jmdt
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@andrewlilley_au
Andrew Lilley
4 years
Some good news for JMCs on #EconTwitter . On a quick scrape of the AEA's job listings, the private sector seems to be holding at 90% of last year's listings at this point in time, and nonUS academic jobs are at ~65%. (Bad news is that US academic jobs at ~35% as bad as expected).
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Andrew Lilley
3 years
@Rustinpartow So there is definitely a level change amidst the volatility, but we have some reasonably large standard errors for a few more days as you can see from the noisiness of the time series.
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@andrewlilley_au
Andrew Lilley
5 months
@750kin1year Lots of policies can solve it from the demand side - no holiday housing, taxing births, every unattached person must sharehouse, forced downsizing. Ending immigration would eventually solve it but would take longer than most of the above.
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@andrewlilley_au
Andrew Lilley
3 years
A great suggestion from a friend @Rustinpartow about the noise in the data. Cases are noisy and I deliberately don't smooth them because you never want to do that when you have a rapidly changing trend at the endpoint. 112 observations of 8d changes, Omicron chgs in bottom 10%.
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@andrewlilley_au
Andrew Lilley
3 years
@BallouxFrancois Good news but it's a bit more moderate - the author has updated it (left) and if you align the lags and trim to the matched lag period (right) it still looks a fair bit worse than the UK/US.
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Andrew Lilley
5 months
@DrCameronMurray The second is that it's scarce compositionally (single family dwellings) but I'm absolutely certain that if you rezoned Bondi waterfront to all be 10 storey, and approved all submissions, you'd get development immediately. One way to relax building constraints is density.
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@andrewlilley_au
Andrew Lilley
2 years
Having the government put in 300k for your house is an extremely generous policy, which makes this no more than a lottery for 10k people to win each year. Cannot understand why is a feature of both parties' key "housing affordability" policies. 1/3
@AlboMP
Anthony Albanese
2 years
There is a housing crisis in Australia – that's why an Albanese Labor Government will cut the cost of buying a home for 10,000 Australians per year.
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@andrewlilley_au
Andrew Lilley
3 years
We're left with the very strong impression that the infection hospitalisation rate of omicron is probably <1/3 of Delta, before taking into account the effects of higher immunization and prior immunity.
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@andrewlilley_au
Andrew Lilley
3 years
Amazing news and eminently sensible since the chance of arrivals being infectious is no larger than a randomly chosen Sydneysider. That was the sole justification for this policy and its use had long expired.
@Dom_Perrottet
Dominic Perrottet
3 years
Media release: reopening roadmap update. #NSWPol #auspol2021
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@andrewlilley_au
Andrew Lilley
3 years
@jamie_hall Low CT is just high viral load (yeah it's the other way to what's expected). One of the worries of the other compulsory testing studies was that you were picking up really mild cases that would not really transmit even if you're infected. These only count high load infections.
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@andrewlilley_au
Andrew Lilley
1 year
We still don't understand how the distribution of interest rate risk affects monetary policy transmission. In most G10 countries (partic US, CAN, UK), this is the first major hiking cycle where households are predominantly hedged against rising rates in liabilities but not assets
@BenChu_
Ben Chu
1 year
This interesting analysis from Bloomberg suggests the income *boost* to UK households, in aggregate, from higher interest rates has so far outstripped the income *hit* to all households from higher mortgage rates...
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@andrewlilley_au
Andrew Lilley
3 years
The concern people had with this claim (omicron <1/3 the virulence of Delta) was that declining severity could be explained by almost all infections being in people with prior infections. In the link I show that can only make up to 40% of infections.
@andrewlilley_au
Andrew Lilley
3 years
We're left with the very strong impression that the infection hospitalisation rate of omicron is probably <1/3 of Delta, before taking into account the effects of higher immunization and prior immunity.
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Andrew Lilley
11 months
But they do appear within a few pages of the ACCCs interim report on the childcare sector. Begging newspapers to start aspiring to journalistic standards again, rather than drumming up more noise.
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@andrewlilley_au
Andrew Lilley
3 years
@JohnQuiggin It's due to a low % of people 75+ being vaccinated. This won't happen in NSW, where >90% of people 75+ will be vaccinated when we reach 70% of 16+. There's no country that vaccinated 90% of people aged 75+ and was overwhelmed.
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@andrewlilley_au
Andrew Lilley
3 years
Using this bit of information from @HannayRyan , the COVID dashboard from NSW health: , and a clever suggestion from my cousin (Matt Lilley), we can derive the case ICU rate of omicron in NSW: between 0.17% to 0.19%.
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@andrewlilley_au
Andrew Lilley
3 years
So the ICU rate of Omicron is around 1/7th of the ICU rate of Delta, while the hospitalisation rate is around 1/3rd.
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@andrewlilley_au
Andrew Lilley
3 months
Been asked for the TDLR of the inflation data after that long thread: it's very clear, inflation is reaccelerating outside of the target band. Below is my preferred 3 month annualised inflation ex volatiles and travel (+ ex electricity, which I'll explain in the next thread).
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@andrewlilley_au
Andrew Lilley
3 years
We'll likely see around 30% of the hospitalisations per confirmed case that we were seeing in November. I'll stop updating it here because I think cases started undercounting infections by a much larger degree four days ago.
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@andrewlilley_au
Andrew Lilley
3 years
This is great news and consistent with the fact that most of the cases we've seen are purely asymptomatic. A low virulence strain that has a significant transmission advantage over Delta could finally be the way out.
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@andrewlilley_au
Andrew Lilley
3 years
And one which avoids prior infection dynamics entirely (both states have <2% of the pop with a prior infection, both have 97% of 50+ vaccinated). Left is Victoria which is mostly Delta and right is NSW which is mostly Omicron. Hosp rate looks < 1/2. Exact estimate in a few days.
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@andrewlilley_au
Andrew Lilley
9 months
This is one of those funny ones economists often say but doesn't really make sense. Students have low work hours and skills so their GDP per capita lowers the national average. But, so what? When you have a child your household GDP per capita collapses.
@misha_saul
Misha Saul
10 months
Big bank economist just told a room I’m in: Australian GDP per capita has declined last couple years to the same extent as in the GFC Driven by massive population growth
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@andrewlilley_au
Andrew Lilley
2 years
having more than 10k votes. Bluey blows the comp away on scores, but is still on 9k votes. But as soon as it ticks over, it'll jump to #1 on the list. We're going to need a national public holiday or something for this. Get hype.
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@andrewlilley_au
Andrew Lilley
3 years
evidence yet that the vaccine's protection against hospitalisation and death wanes by much. This is expected. Antibodies disappear, which means you get infected but you still carry T and B cell immunity to mediate protection against a mild case turning severe.)
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@andrewlilley_au
Andrew Lilley
3 years
For now, the good news is that prior infections seem to remain highly protective – less than 1% of daily cases are confirmed reinfections, which suggests well above 90% efficacy (and they have had longer to wane).
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@andrewlilley_au
Andrew Lilley
3 years
There's 4 times as many cases in the vaccinated as unvaccinated in that group, but about 5 times as many people fully vaccinated as not vaccinated. That would give you a raw vaccine efficacy of 1 – 4/5 or around 20%.
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@andrewlilley_au
Andrew Lilley
2 years
1. Bank profits 2. Commodity prices 3. Tech profits. Not very relevant. Buying a house instead of the ASX allows you to hedge the risk in future rents and aged care costs. Yes, allowing people to move their savings from equities to housing will increase prices, [2/4]
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@andrewlilley_au
Andrew Lilley
3 years
estimate from NSW health that cases a week ago were 80% Omicron, we can now put tighter estimates on it - of a -60% reduction in the case hospitalisation rate per individual, and a -70% reduction in the population level CHR.
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@andrewlilley_au
Andrew Lilley
3 years
How on earth could @RealOzSAGE have thought this claim was plausible? 8% of all children in two weeks? Firstly, it's so far out of the realm of possible they should have known better. But the REACT-1 study in Eng tests at random, and found <1% of children tested positive in Sep.
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@andrewlilley_au
Andrew Lilley
3 years
I get a lot of Qs re: how my estimates of the case hospitalization and ICU rates seem a lot worse than other graphs on Twitter, which show we won’t get anywhere near the October peak in hospitalization and ICU (which I think we do in ten days). The two graphs you’ve probably seen
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@andrewlilley_au
Andrew Lilley
3 years
I have seen many people argue that the Imperial study is most accurate since it's the only one that tries to adjust for the fact that there are more missing "prior infected" persons in the population infected with Omicron than Delta, but to me it just seems to be an outlier.
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@andrewlilley_au
Andrew Lilley
11 months
Childcare workers should get paid much more and that's the only way to fix the crisis, but if you cut prices by 10%, and then somehow cut all profits to zero, you can't pay a single extra dollar to the workers.
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@andrewlilley_au
Andrew Lilley
3 years
Can @RealOzSAGE explain where they are sourcing evidence for this claim? Where would it even come from? Europe confirmed today that every known outcome of its 1700 omicron cases are mild/asymptomatic, so there surely isn't a single child in hospital with Omicron in all Europe.
@PMGPSC
Anna Davidson | OzSAGE | #CovidisAirborne
3 years
2/61 Highlights •Early evidence relating to the new Omicron variant suggests that younger, immune-naive populations including children under 5 years old, were experiencing higher rates of disease and hospitalisation than with previous strains of COVID-19.
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