The reality behind this is horrible

Econ theory is a form of art. A great artist typically doesn't try to paint a photorealistic tree. Instead, they try to paint the tree in a way that helps us understand something important about the tree. (Or about ourselves or the world.)

TIL that Phillips (of the Phillips curve fame), true to his engineering roots, designed this mechanical model as a teaching tool to describe the macroeconomy. This got him a teaching position at LSE. The simplicity and depth of understanding is extraordinary.

MatLab crashes [0, -1] [1, 0] That’s i. This whole thing about complex numbers having a “real” and “imaginary” part is a bit silly, terminology from a more confused time. Complex algebra is just ordinary matrix algebra on matrices of the form: [a, -b] [b, a] corresponding to a + bi.

We are looking for summer interns to make sense of large datasets and co-write our next economic report at @ebrd Office of the Chief Economist in London -- working closely with Beata Javorcik Ralph De Haas and others in the office. Join us! Econ RA Listings jobs.ebrd.com/job/London-Int…

Nothing is better than having a cheap and excellent local Lebanese takeout place open relatively late in the neighborhood. Call the EA guys I’ve cracked the well-being code.

Macroeconomic models / empirical macro

That's when I realized that outcomes matter, but having a good friend around matters more...

Regression is a tool for making comparisons If you don't know / can't easily explain what comparisons you're trying to make, then you don't understand the regression you're running

Putting the con back in econometrics 🔥

It’s ok as long as the parameters are structural, but otherwise a big spanner in the works for the DSGE community.

“…and why is this person not able to get back to work?”

Kick off of the 1st Day of the 1st PhD Conference in Economics and Finance. Thank you all the presenters and the discussants, and the fantastic keynote from Ricardo Reis 🎉 #ICBS #Imperial #ImperialCollegeLondon

Very proud that my second year PhD paper has been awarded the XII Giorgio Rota Best Paper Award, looking forward meeting the other winners and the organising committee next week in Turin #ICBS #Imperial #Economics #Environmentaleconomics

When you add too many fixed effects

I think it’s fine since the JMCs got a $10 Amazon gift voucher.

Does it teach them about omitted variable bias?

🧵 spain has some of europe's best neighbourhood-level income data, but it's buried in the statistical office website i scraped and structured the data to make it accessible with one line of code check out my new R package: pablogguz.github.io/ineAtlas/

I'm on the #EconJobMarket! Millions of women dropped out of the labor force in rural India starting in the mid-2000s. Why? My #JMP shows that gendered commuting frictions + urban-biased growth is an important part of the answer. 🔗warwick.ac.uk/fac/soc/econom… #EconTwitter 🧵👇 1/6