Many of us thought that AI was behind finding the error in Tirole (1985) that Econometrica recently published. Turns out that was not the case. Actually, even after the fact, AI couldn't find the error: https://t.co/1kOSClN8pv
@pseudoerasmus Yeah I would agree with it. EA religion does not map cleanly into the vocabulary of Abrahamic religions. As you said, it gets shoehorned in when it should not be!
1/ EJ Antoni, nominated to head BLS, wrote the main chapter of his dissertation on fiscal crowd out: https://t.co/J55gpWliFt. This is a fine topic. However, I would not have signed it as passing, for two reasons.
Koijen & Yogo's (2019) demand system approach transformed asset pricing by linking portfolio data to demand elasticities. But why are estimated elasticities so low (around 1) when classical models say they should be much higher?
Enter Fuchs, Fukuda & Neuhann (2025)
@bennpeifert Thanks for the reply. I have been reading your threads for a long time. But, while writing up something last month, I saw your QJE and my jaw hit the floor.
@andybliu Veblen good sounds right. There could also be another channel of forward-looking buying if you see prices today that are lower than what you expect to see tomorrow. Sounds almost like “stockpiling” consumption but for a nondurable good (non pejoratively).
@AdamZHerman Pretty interesting. Is international hockey the most politicized sport? And why?
Political statements in NFL, NBA, or world cup seem to fall flat. Tennis athletes didn’t garner grassroots support. So why hockey