Pari Sastry
@parisastry
Followers
1,371
Following
1,500
Media
42
Statuses
1,551
Finance AP at @Columbia_biz Study climate finance, insurance & mortgages PhD @MIT . Prev. at @USTreasury , @FSB_TCFD , @BrookingsInst , @NewYorkFed
Joined July 2014
Don't wanna be here?
Send us removal request.
Explore trending content on Musk Viewer
Sinwar
• 1410152 Tweets
BACK TO BACK
• 1282864 Tweets
rose
• 672683 Tweets
#يحيي_السنوار
• 487256 Tweets
bruno mars
• 380382 Tweets
Wizkid
• 212155 Tweets
Monsalve
• 131790 Tweets
Flamengo
• 85129 Tweets
#GHGala7
• 72648 Tweets
Corinthians
• 69728 Tweets
Ortiz
• 66423 Tweets
Martinez
• 51513 Tweets
Saints
• 48910 Tweets
Klaus
• 47504 Tweets
Allan
• 25495 Tweets
Broncos
• 23811 Tweets
Maracanã
• 23273 Tweets
対象作品
• 22573 Tweets
ALL RISE
• 22534 Tweets
Cleveland
• 20879 Tweets
ROSSI
• 17054 Tweets
Boone
• 16262 Tweets
Stanton
• 15941 Tweets
Alcaraz
• 15668 Tweets
Wesley
• 13286 Tweets
Ganso
• 12029 Tweets
#911onABC
• 11815 Tweets
DEPAY
• 10137 Tweets
#RepBX
• 10072 Tweets
OK. I’m a PhD student so I feel a bit dumb commenting on the Nobel Prize, but here it is. This year’s Nobel concerns one of the most fundamental topics in all of economics: how can we design individual markets so that they work better for govs & taxpayers.
(Long thread--but worth reading)
I received lots of pushback (including some pretty nasty comments) on my tweets re. the most recent “Nobel Prize” in economics.
54
855
2K
12
27
279
I wish more economists posted their presentation slides on their website. It's such a useful resource for us grad students in structuring our own presentations
4
5
243
I am excited to share that I will join
@Columbia_biz
as a finance AP after a 1Y postdoc on climate finance policy at
@USTreasury
! I am indebted to my advisors,
@thesmar
, Antoinette Schoar, and Christopher Palmer, who showed me incredible kindness & support throughout the PhD.
44
6
241
People are coming to twitter & EJMR with sexual harassment allegations because our university, institutional, criminal justice processes are total crap and are structurally biased to favor the accused. Don’t know the solution, but we need a better system.
1
30
221
@BarneyFlames
I am sorry you think that. I almost never tweet about hot topics and limit my presence to academic work, precisely because of conversations like this.
0
0
108
India ran a 2G spectrum auction in 2010 which was poorly designed, widely corrupt, and likely cost Indian taxpayers $40 billion by some estimates. Getting the “micro” right can be just as crucial as getting the macro.
3
4
107
Does anyone else find tweeting really stressful? I get excited about other people’s posts, and often post replies / my own tweets, but then immediately delete them :(
#twitteranxiety
6
0
88
It is not sexist to look at the data/code/analysis of a researcher who happens to be female, find evidence of fraud, and then publish the findings. In a world where a lot of things are actually sexist, it is so cynical and upsetting for
#FrancescaGino
to make this claim
2
6
81
Today was my last day at the
#Treasury
department. It has been a joy and privilege to work with such talented people. I have learned so much about climate policy, and am excited to build off this experience when pursuing my academic research in the coming years from Columbia.
1
5
78
a lot of solo-authored job market papers use the pronoun "we" in the text. Is this the standard? Is it okay to use "I"?
#econtwitter
14
6
72
Some concrete proposals from discussions with friends:
1. Faculty are 100% not qualified to investigate other faculty, and it’s absurd to think they are. Universities should be forced to hire third-party investigators that are qualified & don’t have conflicts-of-interests
2
0
61
Happy holidays to all the
#JobMarketCandidates
out there. Many of us cannot travel and/or are spending the holidays alone. Here is to making it through to the other side.
2
0
56
Rant alert: please don't tell me you want to write a climate finance paper because it is a "hot topic" in academia and "will do well in conferences". This really rubs me the wrong way.
And FWIW I study this because I think it's one of the great challenges of our time.
3
1
55
Was very exciting to present my JMP for the first time ever at a conference! Big thanks to the Philly Fed for including me in the program, and to
@amine_ouazad
for a thoughtful and kind discussion of my paper. Conferences are surprisingly more fun than they seem
2
0
53
5. Senior tenured faculty gotta lead this advocacy, because us juniors are overwhelmed and scared of retaliation & the effects of our advocacy on tenure prospects
1
1
49
Project management is probably the most important skill that isn’t explicitly taught, esp in PhD programs. (managing teams, keeping track of deadlines, optimally prioritzing and effectively using your time). Feels like I’m still playing catch up on this
3
2
47
I agree that the topics mentioned in the thread are interesting. But I don’t think they are the full set of “interesting topics.” I also think the thread underestimates the extraordinary impact of auctions research, especially for emerging market economies
1
0
47
Just wrapped up my first week at
@USTreasury
. So excited for what's to come! The ever-looming tenure clock prevents a lot of juniors from doing things like this. But I have to say, it's *incredible*, and I hope more juniors consider these types of policy roles in the future!
4
0
41
Sloan cancelled in-person instruction again because of large off-campus parties/gatherings without masks. Depressed and makes me wonder if we'll ever go back to normal :(
4
1
41
2. People facing credible allegations that are under investigation should not be in gatekeeping roles (journal editors, NBER conference organizers, etc). I know “Credible allegations” is hard to define, but yeah
2
1
37
Most people who tweet about "economics" as a discipline have no idea what economists do. And TBH that might be our fault. Papers are too long/jargon-y to understand, and there aren't that many venues for communicating our results to the broader public.
4
1
36
Re: real analysis, I'll just say that I wish I took more chemistry, physics and biology in college. Learning how to use theory to construct a hypothesis, design an experiment to test it, and conduct inference--those skills, to me, feel like the backbone of modern economics.
1
1
37
I will just say that I am so grateful that I had the opportunity to work with Ben Bernanke. He is an incredible mentor who cares deeply about teaching. He inspired me to do the PhD and supported me throughout the journey. (For example, he actually read my JMP!!)
0
0
34
I'd like to write some small reflections about my year as a junior academic working in policy at Treasury. Does anyone have a venue they'd suggest I submit to? Like an economist blog?
14
2
35
6. Due process is an important part of the story, and we can’t pretend that it’s not.
1
0
33
Before my PhD, I planned to be a lawyer, & I wrote this paper about the legislative history behind Section 13(3) of the Federal Reserve Act, the section that authorizes the newly created Bank Term Funding Program. Some might find interesting!
.
0
8
31
A quick reflection after my first year of being a referee--I really like when editors send you their decision letters and the reports of the other referees. I learn a lot by reading those, and think/hope it makes me a better referee
1
0
31
3. There should be sanctions at the organization level (i.e. NBER, AEA) so that perpretators don’t avoid punishment simply by switching institutions
2
0
29
Maybe households are more price elastic than we thought!
“ Households and businesses across Europe are consuming significantly less energy than expected…high prices have delivered a powerful incentive to use less gas and electricity.”
1
2
27
It is literally impossible to find rapid covid tests in boston/cambridge. Grateful to have testing through MIT-- if I didn't have that, traveling for the job market would be even more of a nightmare
1
0
27
So thrilled with this year’s Econ Nobel!!! Diamond, Dybvig and Bernanke pioneered new theoretical and empirical approaches in finance to think about crises, and the world was lucky enough that Bernanke was at the helm in 2008 when it came time to put those insights into practice
1
0
24
I firmly believe that nuclear power is an important part of the solution (to many many problems, climate & foreign policy). Instead of backing away, we need to scale up r&d investments on improving safety and management of nuclear waste.
1
0
25
probably unpopular opinion: having the nber meetings live-streamed on youtube is amazing for PhD students, and something that I hope will continue in some form
1
0
24
For 'young people' that care about climate change, there is a strong ethos of degrowth. IE caring about the climate requires less consumption, esp. imports (eg agriculture).
This is scary to hear for anyone that cares about development. & I'm not sure it's right (decoupling).
2
0
24
Grateful to have our paper included in this amazing program!!
I'm particularly excited about one of our conference themes - climate change + household finance 🌎💸
Awesome papers by
@parisastry
@SenIshita1
@ateneked
+ Wallace Stanton
@CarlesVerg
Issler👀
Can't-miss panel with
@Key_Z_E
+ Jeremy Porter +
@stroebel_econ
+ Emily Williams 🤩🤩
1
3
15
0
2
23
Not my area, but what a cool paper!!
Some anecdotal evidence: one elder uncle in my family went to BYU from our Indian village to study civil engineering; after him, three additional people (incl my dad) went from India to BYU to study civil engineering.
Recently accepted by
#QJE
: “O Brother, Where Start Thou? Sibling Spillovers on College and Major Choice in Four Countries,” by
@adamaltmejd
,
@andres_bafer
, Drlje,
@JoshuaSGoodman
, Hurwitz,
@Dejan_KovacHR
,
@camulhern
,
@ChrisANeilson
, and
@jonisaacsmith
:
3
32
274
1
0
22
Very interesting and important new paper in RESTUD about the payoffs of adaptive investments. Brings up an important question about how to model disaster risks from climate change -- how much is idiosyncratic risk & how much is aggregate risk ?
1
1
23
Have spoken to close friends/family in Bangalore , Mysore, New Delhi, and Mumbai. The COVID situation is in India *pure horror*. Incredibly tragic. Also highlights why global vaccination should be a US priority. A variant from India has already appeared in NJ.
0
0
21
Gotta say, NBERSI is ablaze with discussions about the defamation and toxicity in the profession, what should be done by universities & departments, incentives-based versus blunter solutions. Shows how a single paper can force uncomfortable discussions.
0
2
21
4. Those of us who care about this need to support the community organizing to get support for our proposals & to get relevant policy change
1
0
20
@Andrew___Baker
I also think full time pre-doc programs are extremely useful for knowing whether you might actually like doing economics research. It’s hard to know just based on undergrad courses / RA/ senior theses
1
0
22
Yup! BTW people really pushed back on me in the job market when i talked about how difficult it is to get top-up flood insurance beyond 250K in Florida. But here is Rebecca Diamond talking about it!!
Seems like flood risk in California is on the rise.
@floodfactorcom
says my house is at risk. Insurance companies won't sell me coverage beyond 250k of structure damages. I want insurance against tail risk of big damages, but it doesn't exist? Am I crazy?
1
2
19
2
1
21
I hope ASSA survives. But I wish it was like one week later. It's a great opportunity to see old colleagues in different schools that aren't in your direct subfield, but it isn't ideal that it's always the first weekend of the year.
0
1
20
The data on P&C insurance is challenging. As my coauthors say, amazing info on their asset holdings, only rough aggregates for liabilities. To understand what’s going on, esp. with climate risk, we absolutely *need* better data.
Something like a public “HMDA” would be ideal.
0
1
19
Yes please apply! Boaz and I have some wonderful projects in the pipeline, including related to some joint work pertaining to issues about inequality and climate risk in housing markets. Please apply!
We are hiring a pre-doc! Interested in real-estate, climate and household finance? Join
@parisastry
and me at
@Columbia_Biz
! Apply here:
@econ_ra
1
10
31
2
8
18
Re Amy Wax: Most non-Euro immigrants have sadly probably heard comments like this & deal with it by “keeping their heads down” and “not letting it get to them.” I have for sure. But it’s not ok, and I wish that more of us in the Indian diaspora spoke out against this crap.
0
0
17
I cannot think of a more potent symbol of the brilliance of American Innovation
2
1
17
A very interesting JMP on from this cycle-- Juanma finds that the need to hedge weather risk change auto manufacturing firms plant location choices and capacity investments, leading to productivity loss and in turn higher consumer prices
0
1
15
Writing about hurricanes in the middle of a hurricane has been a strange experience
#JobMarketPaperWoes
0
0
16
Really grateful for the opportunity to spend the past few days at the European Central Bank. It’s a gorgeous building with unbelievable views. Have already met so many kind and hard-working people. Also cool to work with RAs ( that was me not so long ago!)
0
0
16
@Columbia_Biz
@USTreasury
@thesmar
I am also grateful to the many faculty, friends & colleagues at
@MITSloan
and
@MITEcon
who helped me weather the storms of graduate school through their brilliance, generosity, and humor. That extraordinary "weather insurance" is tough to find, and I have come to treasure it.
1
0
15
I am surprised to say that NYC apartment hunting is a quick and painless process. The housing stock is incredibly modern and the rents are totally reasonable!
1
0
15
@selfattentive
the level of coverage stanford got doesn’t come remotely close to what harvard is getting now. Also we should still be discussing what in academia allowed that to persist for years. It’s not a point about timing, it’s a point about magnitudes and substance.
2
0
15
Okay I suck at twitter and mistagged my dissertation committee chair!! Please check him out at
@dthesmar
!!! 🙈
1
0
14
The FTC recently announced that it will ban noncompetes. It's hard to know what exactly what effect that will have, but one paper worth looking at is my friend Sammy's paper on noncompetes: (1/4)
1
2
13
The ejmr convo shows there are a lot more deontological (nonconsequentialist) economists than I expected.
Ppl are drawing bright ethical lines about ejmr doxxing being wrong. I'm seeing a lot less discussion about whether this is optimal from a utilitarian standpoint.
1
1
14
I love a good pun as much as the next person, but some econ paper titles are insanely corny.
4
0
13
OMG!!! New president of Columbia is an economist, former central banker, and current president at LSE. Forgive my language, but she is so baller. So excited for this pick and see what she does at the university!
0
1
13
One of the lessons from the Tesla case in the MBA class I teach on climate finance is that business has to create *better products* that are also low carbon. Not enough people WTP a ‘greenium’ for decarbonization to happen everywhere it needs to.
1
0
13
For those of you who missed it,
@SVNieuwerburgh
gave an awesome lecture on remote work at today’s
@AREUEA_ORG
lunch today!
Here is his slide on impacts on GHG emissions. Much to think about here. My one thought— EV adoption and grid renewability also affect this calculus
0
2
13
My eyesight has gotten so much worse over the course of My PhD. My Latex & scripting fonts have to be size 18 now lol. Both eyes have gotten worse by -.75! One metric of the PhD's physical toll.
4
0
12
The newly renovated air and space museum is *amazing*. Highly recommend for anyone visiting DC!
2
0
13
Sad to not be at home this holiday season (mom works with Covid positive patients), but a Boston Christmas sure is beautiful
0
0
12
@SevendersOTW
I will say the same thing to you. I don't think you're an academic. If you were, you would know that if your name is on a paper, you can be held responsible for everything that's in it. Doesn't matter whether you did it, your RA did it, or your coauthor did it-- it's all the same
0
0
13
A fundamental policy question following terrible natural disasters. Strong economic incentives to *rebuild*, limited incentive to relocate. Not sure what’s optimal.
1
2
12
It feels great to celebrate America’s geniuses and Nobel Laureates this week. I’m enjoying learning about people who are smart, hard working, and have changed the world. Definitely a really nice break from doomscrolling
0
0
11
@politicory
So I agree with your sentiment, but a huge line of criticism about RCTs comes from an ethical dimension— the feeling that researchers in the US or EU might have some random theories about human nature and then test them in the developing world because it is cheaper
3
1
11
@WilliamGale2
As a more extroverted-type person, I get energized by being in a room with other people. Somehow it’s just not replicated by seeing other people on a screen.
0
0
11
Leverage
What’s considered trashy if you're poor, but classy if you're rich?
8K
3K
15K
0
1
10
Am learning a lot about
#insurance
while planning my wedding. Post COVID, the special event/wedding insurance market has boomed. Used to be mostly big events/festivals (eg Coachella), but now more demand from individuals. The market didn’t really exist before the 1990s!
1
0
11
Honestly I am truly amazed by youth voter turnout in this midterm election. Early evidence suggests it surpassed historic rates in many key states by 2X or 3X (perhaps one reason why polls were off?) Also youth turnout genuinely makes me hopeful for the future of democracy.
3
0
11
I am really amazed by my Treasury colleagues. We have, at the same time: the banking crisis; debt ceiling crisis; international oil price cap negotiation; international coordinated sanctions; and implementation of the Inflation Reduction Act. And a whole lot of other things too.
0
0
11
Thinking about South Asia flooding right now, adaptation really has to be a higher priority. Flood damage in India alone is on average $15bn per year. Yet, most dev country climate investment is about emissions reduction (mitigation), not adaptation.
1
3
10
I wish there were a 'common app' of sorts for job market applications :( such a decentralized process given that we send basically the same set of materials for each school!
#jmcwoes
1
0
10
Today, Treasury released its Net Zero Principles for financial institutions. This has been a long project, one I spent a lot of time on when I was there. It was the brain child of Adair Morse. I couldn't be prouder ! I'll do a longer thread on it soon.
0
2
11
Title Insurance.
1
0
10
Amazing that some people think wearing a mask in public is about “political correctness” rather than about preventing the spread of a contagious disease
0
1
10
@Arbitrary_user
I don't think you're an academic. If you were, you would know that if your name is on a paper, you can be held responsible for everything that's in it. Doesn't matter whether you did it, your RA did it, or your coauthor did it-- it's all the same.
0
0
9
Some really tough tradeoffs. NYC subways have to run to help health workers / patients get to where they need to go. But for that to happen, people like my dad have to commute into NYC and work in the construction sites/tracks. My dad is 70.
@NYGovCuomo
I am scared for him.
1
1
10
How many figures is too many figures for a paper submission? After running every robustness check possible for the job market, realizing that the appendix is perhaps a bit too long 😅
2
0
10
Mortgages are such complicated products. Great from an academic research standpoint, but it must be so so hard for consumers to wrap their heads around all the different margins of adjustment and institutions involved (broker, originator, servicer, title insurance, etc.)
0
0
9
@instrumenthull
IMO there’s value in hearing critiques from non-economists; this tells us how the broader public sees us, which in turn impacts our credibility in policy circles. The popularity of that tweet signals that perhaps we can improve how we share our insights with broader audiences
1
0
9
Important (& sad) new paper by some great folks on informal insurance networks in the U.S. for natural disasters.
Particularly interesting because we usually think of informal finance in the context of the developing world, not higher income people in the US
🚨 New paper 🚨
I'm excited to release my new paper, "Money to Burn: Wildfire Insurance via Social Networks" with
@EmilyAGallaghe1
and
@Philipcheesy1
This paper is about recovery from a wildfire that came within 2 miles of my house.
1
22
124
1
0
9
If you want to ruin a perfectly beautiful day, spend 3 hours waiting on the phone for Delta customer service.
1
0
8
How should we allocate scarce resources in a pandemic? Are there tradeoffs between ethics/fairness and economic efficiency?
@dthesmar
@DSraer
@augustinlandier
and I ran a survey to find out what people think about this! See this gr8 thread by my advisor explaining our results:
0
2
9
an observation from apt huting in boston during Covid: so many buildings with vacancies; headline rents barely declined, though buildings are offering sweeteners like 1 month free etc. Still puzzled about the vacancies and why rents aren’t decreasing more...
#econtwitter
1
1
9
There is even “change-of-heart” insurance, if the bride or groom etc gets cold feet. My guess is that this product is likely to be very adversely selected??
2
0
8
Great news for a great person, well-deserved Angie! So excited for you.
Delighted to announce that I will be joining the Toulouse School of Economics faculty as an Assistant Professor this fall!
Cannot wait to join the amazing group of researchers at
@TSEinfo
! 😊
55
10
559
1
0
8
Okay is there a “federalist society” equivalent for the left? An organization with a dedicated mission of filling the courts with reasonable people that don’t pine for life in the 1700s and support reasonable gun laws/rights for women/church & state separation?
2
1
7
One of the big challenges of climate finance research (and probably conducting environmental cost-benefit analyses) is that it’s hard to quantify the economic benefits of biodiversity
0
0
8
Lotta people just saying that this is too costly or not feasible for NYC. Finally we have a paper from an awesome team that puts some numbers to this.
🚨New paper on office-> residential conversions!🚨
Remote work has crushed office markets, but what are we supposed to do about it?
With
@SVNieuwerburgh
and Candy Martinez, we explore the viability of converting brown offices into green apartments. A 🧵:
11
105
369
0
0
9
Michael Greenstone starts out strong in his ASSA lecture. Climate change has indeed arrived (sad), but the good news is that, for the first time ever, we have federal climate policy!
.
@UChi_Economics
' Michael Greenstone was named the Distinguished Lecturer for the American Economic Association's Annual Meeting last week, discussing "The Economics of the Global Energy Challenge". Watch the lecture here:
#ASSA2024
0
23
98
0
1
8
Pakistan is having three crises at once: a political crisis (with the ousting of Imran Khan), an economic one (with 27% inflation), and a climate one (unprecedented flooding with almost 1/3 of its country submerged underwater. Millions likely to be displaced. Devastating.
0
0
8
This was such a wonderful conference, grateful to Lin for organizing and including my new paper with
@SenIshita1
and Ana-Maria on the program. Hope it becomes a recurring conference!
Thank you to all presenters, discussants, and participants for joining us at the "Climate Finance and ESG: Shaping a Sustainable Future" conference this Friday at Baruch, located in the heart of New York City. Visit
1
0
26
1
3
8