The 150-hour rule for obtaining a CPA license is getting blamed in many quarters lately for the shortage of accountants, but another culprit may be the proliferation of complicated accounting standards, according to a recent academic study. https://t.co/H9ajDOoFIH
New research examines how such mandates to ensure compliance with regulations shape the market for #audits.
By our #StiglerAffiliate Fellow Matthias Breuer, with @anthonyle177 (also at @Columbia_Biz) and Felix Vetter (@UBMannheim)
https://t.co/zx7eiGaikX
2020 has been a memorable year but we still find ways to safely share some #UTMjoy! ☃️🌲 Sending our warmest wishes to the #UTM community this holiday season.
The #NobelPrize committee couldn't reach Paul Milgrom to share the news that he won, so his fellow winner and neighbor Robert Wilson knocked on his door in the middle of the night.
“The first duty of an economist is to describe correctly what is out there: a valid description without a deeper explanation is worth a thousand times more than a clever explanation of nonexistent facts.” - Paul Samuelson
"I estimate that if I had neglected the students, I could have written 25 percent more scientific papers. The choice was easy to make and I do not regret it."
Happy 96th birthday to economist and professor Robert Solow.
Photo: Solow spending time with parents of his students.
Exciting news! The climate crisis is chief among the urgent environmental and public health challenges facing humanity. To tackle these challenges, we're creating the Columbia Climate School—the first new school at the University in 25 years. https://t.co/1PU30PWDt8
Economics 101: When there are significant externalities, as with public health, private incentives alone don't lead to socially optimal choices or outcomes.
That's one reason we typically have public health policies set by governments.
#EconTwitter
feel a lil guilt every time I call myself a "data scientist." There's hardly anything scientific about what I do. I'm more like a data jester, performing cheap tricks to beguile the rulers of the economy.
Economists are almost all Democrats and mostly place themselves on the political left.
Stereotypes of right-wing economists are based on outliers and media shouters.