Max

Twitter Economist; Scotland; Food;

[Max @maxschr90]

@RenaudFoucart When I tell my relatives at Christmas that my job is to predict the next token, and they proceed to ask me to predict the stock market...

[Max @maxschr90]

@alz_zyd_ The point of teaching them is to keep it that way.

[Max @maxschr90]

9/9 The takeaway: debt reduction is a package.

The debt path, financing instrument and use of fiscal headroom jointly determine the macroeconomic transition and the coalition of winners and losers.

Explore the results: https://t.co/3Ss7djt8pQ

[Max @maxschr90]

1/9 New working paper with Spyridon Lazarakis (@lazarakis_s) : Public Debt Consolidation under Risky Human Capital.

Many economies want to rebuild fiscal space. But how governments deleverage matters for who gains and who loses.

Paper: https://t.co/mtXHwf7Vgi

[Max @maxschr90]

8/9 Future generations can reverse the ranking.

At our central social discount factor, the welfare-maximising package is front-loaded for 3 of 4 uses of headroom. Front-loaded public investment financed by returns taxation gives an all-cohort welfare gain of 0.661%.

[Max @maxschr90]

@pontus_rendahl Culture; Institutions (also culture); vibes (culture light)

[Max @maxschr90]

Step aside breakfast cereal!

[The Review of Economic Studies @RevEconStudies]

Buyers often make choices between differentiated products and negotiate prices specific to the choice. This paper specifies a model for this setting and estimates it on transactions data for the UK brick market.

New paper by @howardwsmith, Beckert, and Takahashi

#REStud
#EconX

[Max @maxschr90]

@RenaudFoucart The big red "off" button.

[Max @maxschr90]

@RenaudFoucart Turns out there is a second sacred zip code...

[Max @maxschr90]

@joefrancis505 No top 5. Not even a NBER working paper...

[Max @maxschr90]

@jbsteinberg I have long thought that the bundling of tasks into occupation should be analysed as an economic problem. Managers trade off lower transaction costs within that bundle with less ability to price skills effectively due to labour market availability of skill bundles.

[Max @maxschr90]

@joachim_voth @Stata @claudeai @GeminiApp @grok reg y x +AI, r

[Max @maxschr90]

@RenaudFoucart "Try not to have excessive levels of wealth inequality 3 centuries ago" - tier advice.

[Max @maxschr90]

@RenaudFoucart Movie, where you have to go back in time to kill the guy who has gone back in time to kill Hitler.