BREAKING NEWS
The Royal Swedish Academy of Sciences has decided to award the 2025 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Joel Mokyr, Philippe Aghion and Peter Howitt “for having explained innovation-driven economic growth” with one half to Mokyr “for having identified the prerequisites for sustained growth through technological progress” and the other half jointly to Aghion and Howitt “for the theory of sustained growth through creative destruction.”
#NobelPrize
We study how trade policy can reduce global emissions. Unilateral carbon border taxes have limited efficacy at cutting foreign emissions. By contrast, coordinated trade penalties under a climate club prove highly effective. https://t.co/dH5mIGe0gJ
I always thought more trade meant more diffusion of ideas.
More Trade = More Diffusion, right?
Not always!
In Brazil, when the government blocked the flow of goods, firms started trading ideas instead.
Tariffs led to diffusion.
Here’s a true story that shows how. (Names changed—no lawsuits please)
Optimal environmental policy and business cycles: An analysis using an... https://t.co/LCApHRBCWx
Just published! Congratulations to my former PhD student @YuriCesarSilva !!! @pimes_em
BREAKING NEWS
The Royal Swedish Academy of Sciences has decided to award the 2024 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Daron Acemoglu, Simon Johnson and James A. Robinson “for studies of how institutions are formed and affect prosperity.”
#NobelPrize
How should we tax capital gains due to rising asset prices? On realization? On accrual? Or should we perhaps tax wealth?
The existing public finance literature has a big hole making it unsuitable for thinking about these issues: it doesn't model asset prices!
🧵 on a new paper: