Good article laying out the options for reforming the US corporate tax code in ways that would reduce the incentive to produce offshore so as to book profits offshore -- 1/ wsj.com/health/pharma/…

Still very rilevant "An Equilibrium Model of “Global Imbalances” and Low Interest Rates". By Ricardo J. Caballero, Emmanuel Farhi, and Pierre-Olivier Gourinchas economics.mit.edu/sites/default/…

"Why Does Globalization Fuel Populism? Economics, Culture, and the Rise of Right-Wing Populism" | Annual Reviews - by Dani Rodrik go.shr.lc/3UX5cpX

What should the Fed do with Trump Tariffs? New paper on 'Monetary Policy in Times of Tariffs' with Guido Lorenzoni & Veronica Guerrieri (link at end) We show the simplest most intuitive way to approach tariffs is actually correct: Tariffs = textbook cost-push shock 🧵1/N

Analyzing a 2005 court ruling that enabled US multinational companies to lower domestic R&D costs through tax avoidance via cost sharing agreements, boosting their market value, R&D investment, and profit shifting, from Lysle Boller, Clare M. Doyle, and Juan Carlos Suárez

I’m sharing my slide deck on the demographic future of humanity, 🔗 Slides: sas.upenn.edu/~jesusfv/Slide… prepared for the keynote address I will give tomorrow to the 7th EBRD and CEPR Research Symposium on “The Economics of Demographic Change”: 🔗 Symposium: ebrd.com/home/news-and-…

🧵NEW research: How is the Russian state turning young people into patriots via Telegram? Spoiler: It’s not just about war—it’s about influencers. We analyzed hundreds of posts by two state youth leaders. What we found is disturbing.👇

BREAKING: Apple just proved AI "reasoning" models like Claude, DeepSeek-R1, and o3-mini don't actually reason at all. They just memorize patterns really well. Here's what Apple discovered: (hint: we're not as close to AGI as the hype suggests)

🚨New paper with @veroguerrieri & Guido Lorenzoni Can lack of coordination across central banks lead to higher inflation? Yes, we show. Especially in response to global supply shocks. 1/n🧵

There is a widespread view that the US gets a lot of cheap financing because of the dollar's reserve currency role. Two problems there: one, US rates aren't low v the G-10, and two, there aren't actually any current reserve flows ... 1/

A good discussion of why Eurobonds could rival US Treasuries reuters.com/markets/europe… Olivier Blanchard Peterson Institute

the academic job market

Breaking news: Donald Trump’s landmark tax bill would make the most prosperous Americans $12,000 richer each year, while wiping $1,600 off the disposable income of the nation’s poorest, Congress’s fiscal watchdog has said on.ft.com/442Df4x

Studying stationary equilibria in a novel class of analytically tractable incomplete markets models with a public debt bubble, from Narayana R. Kocherlakota nber.org/papers/w33897

Education is the acquisition of knowledge, while intelligence is the ability to use that knowledge to think and reason. One can be highly educated but not necessarily intelligent, and vice versa.