Jonathan Heathcote @Jonheathcote Twitter profile

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Jonathan Heathcote

3 years

New/old paper with Hitoshi Tsujiyama now forthcoming. Paper tackles an old question – the shape of the optimal income tax schedule. Should marginal rates be flat (Friedman / Mirrlees), U-shaped in income (Diamond / Saez) or increasing (actual tax code)? 1/

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Last Seen Profiles

@hemmiu

@metarolism

@Sinulacrum

@Twitch_Camp

@Engagio

@stwmaniax

@RavensCommunity

@PsuBOfficial

@VmaniakJ

@kdecommunity

@UrkoAzpitarte

@egirlsimppp

@sorrypixie

@Vacheera_

@TUCSouthWest

@hadd_glo

@FeralKonig

@_stedswrestling

@UrkoAzpitarte

@CloverGrant

@pt_token

@RazzallOfficial

@szk_pac

@URAuganda

@Mochalattefox

@VwalaViola

@a_i_k63

@Arsaitagame

@Fernando_Vilar_

@ArkingKyle

@stw_pdg

@URAuganda

@kaavi_J

@VwalaViola

@ayferocer

@OrysTab

Jonathan Heathcote

@Jonheathcote

2 months

The US is heavily dependent on immigrant STEM talent.

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Jonathan Heathcote

@Jonheathcote

11 months

@achenfinance It’s terrible. Has Harvard apologized? Next they must end legacy admissions — equally embarrassing.

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Jonathan Heathcote

@Jonheathcote

4 years

Vincenzo Quadrini and I organized a special issue of RED to celebrate the 25th anniversary of "Frontiers of Business Cycle Research," a book edited by Tom Cooley in 1995. Please take a look! 1/3

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Jonathan Heathcote

@Jonheathcote

1 year

Has any economy shrunk by more than Puerto Rico's over the past 20 years?

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Jonathan Heathcote

@Jonheathcote

2 years

Monetary policy protip: it is Fed, not FED.

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Jonathan Heathcote

@Jonheathcote

3 years

The benefits of economic growth.

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Jonathan Heathcote

@Jonheathcote

3 years

95.7% of people who have died from COVID in the US have been over 50. It is wrong to be vaccinating healthy 20, 30 and 40 year-olds when many people in their 50s, 60s, and 70s have yet to be vaccinated. The UK and a few US states (CT) are doing it right. Most US states are not.

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Jonathan Heathcote

@Jonheathcote

4 years

Super happy four awesome economists are joining the Research Department at the Minneapolis Fed next year: Jennifer La'O @jensqu4r3d , Michael Waugh, Christian Moser, and Kyle Herkenhoff. Also excited Andrew Goodman-Bacon @agoodmanbacon & Illenin Kondo are joining OIGI Institute

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Jonathan Heathcote

@Jonheathcote

9 months

@RobinBrooksIIF Your plot obscures the fact that Ecuador has grown slightly faster than Argentina and Brazil (and the US).

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Jonathan Heathcote

@Jonheathcote

2 years

@EricTopol @OurWorldInData This is Hong Kong compared to the US.

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Jonathan Heathcote

@Jonheathcote

3 years

Annoying that the US and other rich countries didn't immediately buy COVID vaccines for the entire developing world population. The vaccines are cheap, and it would have been fantastic foreign policy as well as domestic public health policy. Still not too late to help.

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Jonathan Heathcote

@Jonheathcote

4 years

@MaxCRoser US looks better by deaths, which are more consistently measured.

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Jonathan Heathcote

@Jonheathcote

4 years

Glover, Krueger, Rios-Rull and I have a new paper on the optimal economic policy response to COVID-19. We focus on differential implications of shutdowns by age and sector, and study the joint optimal shutdown and redistribution policy. Comments welcome!

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Jonathan Heathcote

@Jonheathcote

1 year

Andy Atkeson, Fabrizio Perri and I have extensively revised our paper, “The End of Privilege: A Re-examination of the Net Foreign Asset Position of the United States”. New version is here: I’m excited to tell you a bit about it. 1/7

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Jonathan Heathcote

@Jonheathcote

3 years

I was teaching this morning, and super impressed with my students who are surviving an Econ PhD, at Minnesota, during COVID, with 300 consecutive hours below 0'F. Hang in there! Life is all downhill from here!

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Jonathan Heathcote

@Jonheathcote

3 years

Thread on new project with Andy Atkeson and @fabrizio_perri on the unprecedented decline in the US net foreign asset position over the past decade. What has driven this decline? What are the welfare consequences? 1/7

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Jonathan Heathcote

@Jonheathcote

4 months

First day of my month at @ScPoEcon . I’m excited to be here.

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Jonathan Heathcote

@Jonheathcote

9 months

@NateSilver538 @phl43 Have you ever visited France?

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Jonathan Heathcote

@Jonheathcote

2 years

Three of the tallest economists at #SED_2022

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Jonathan Heathcote

@Jonheathcote

4 months

Call for papers! As part of the NBER's Summer Institute, @raquel1fernan Roland Bénabou and I are organizing the "Inequality and Macroeconomics" workshop on July 16-17, 2024. Submission deadline is March 21. Please submit here:

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Jonathan Heathcote

@Jonheathcote

3 years

Annette Vissing-Jorgensen making a case for allowing economists at central banks to belong to the NBER. I’m in favor!

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Jonathan Heathcote

@Jonheathcote

3 years

@leah_boustan We should be cautious, because there are clear border effects for testing rates. So are we picking up differential testing, or true differential disease incidence?

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Jonathan Heathcote

@Jonheathcote

4 years

Vincenzo Quadrini and I are stepping down as Coordinating Editors at RED. It was a good experience, but a lot of work. Vincenzo was a fantastic partner. Also, all the other editors and associate editors were just great. I’m very excited Loukas has agreed to take over!

SED Meeting

@SEDmeeting

4 years

The RED has a new Coordinating Editor, welcome Loukas Karabarbounis! #RevEconomicDynamics

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Jonathan Heathcote

@Jonheathcote

24 days

My views, concisely, on this. 1. Tax incidence is messy., but @gabriel_zucman ‘s current assumption is reasonable in my view and is consistent with other recent work. See e.g. 2. I don’t agree with excluding the EITC when measuring tax rates. In fact I

Phil Magness

@PhilWMagness

25 days

🧵Thread on @gabriel_zucman 's claim that billionaires pay a lower tax rate than the average American, as published in yesterday's @nytimes . The short version: Zucman manipulates his data to fit a pro-tax political narrative. You can see this by comparing to his own earlier work.

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Jonathan Heathcote

@Jonheathcote

4 years

This is a paper with Storesletten and @glviolante on optimal age-variation in taxation, where the planner balances competing concerns: (1) inequality increases with age => case for more progressive taxes on the old. 1/4

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Jonathan Heathcote

@Jonheathcote

4 years

Tribute to Emmanuel Farhi - Jean Tirole - Econometric Society World Congress | TSE

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Jonathan Heathcote

@Jonheathcote

3 months

I was very happy to contribute a bit toward this fantastic project by writing a chapter on fiscal policy with @KStoresletten and @mazzimon77 . The chapter is on the book website here:

marina azzimonti

@mazzimon77

3 months

We had this crazy idea to create a PhD macro textbook . It's still a work in progress, write to me w/ feedback/typos/ideas. @alisdairmckay @ToshiMukoyama @KrusellPer

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Jonathan Heathcote

@Jonheathcote

3 years

If your research relates to inequality, please apply to visit the Opportunity and Inclusive Growth Institute at the Minneapolis Fed. Visits can be short or year long. It's a great research environment! Deadline for applications is Feb 15. Please share!

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Jonathan Heathcote

@Jonheathcote

3 years

New paper with @ZhifengC now forthcoming. We argue that rising income inequality is the main explanation for the dramatic observed growth in college tuition over the last 30 years.

AEA Journals

@AEAjournals

3 years

Forthcoming in the AER: "College Tuition and Income Inequality" by Zhifeng Cai and Jonathan Heathcote.

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Jonathan Heathcote

@Jonheathcote

2 months

@LeeHepner For every uber / Lyft driver in Minneapolis, working for Uber or Lyft was the best available job. For every rider, taking Uber or Lyft was the best available ride option. Every single Uber or lyft ride left both the driver and the rider better off — if it had not, either the

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Jonathan Heathcote

@Jonheathcote

4 years

My colleague Jim Schmitz works on monopolies. He argues persuasively that they are much worse than you think, with lots of interesting examples.

Monopolies Inflict Great Harm on Low- and Middle-Income Americans | Federal Reserve Bank of...

www.minneapolisfed.org

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Jonathan Heathcote

@Jonheathcote

2 years

Edward C Prescott (1940-2022): Economist, Teacher, Mentor and Friend

Edward C Prescott (1940-2022): Economist, Teacher, Mentor and Friend

With great regret, we have learned that Edward C. Prescott passed away.

cla.umn.edu

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Jonathan Heathcote

@Jonheathcote

8 months

I have a new paper with @ZhifengC about quits and optimal unemployment insurance: Should workers who quit their jobs be entitled to UI benefits? In many countries they are; in the US they typically are not. Is there a reason to

The Great Resignation and Optimal Unemployment Insurance | Federal Reserve Bank of Minneapolis

www.minneapolisfed.org

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Jonathan Heathcote

@Jonheathcote

10 months

@CharlesCMann That is nothing really to be proud of. The UK has reduced emissions to the level of 1860, and the level is one third that of the US.

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Jonathan Heathcote

@Jonheathcote

4 years

This is good advice. Equivalently: work on the paper that is closest to being finished. Which usually amounts to: work on the paper that you are least excited about. No-one actually does this — that would mean writing one paper at a time. But still, good advice.

Kelly Jones

@kmpjones

4 years

Advice from Duflo: If you have an R&R, drop everything else and attend to it. If you have a conditional accept, drop everything including your R&R's and send in the files. And treat a reject and resubmit just like a revise and resubmit #CSWEP #firesidechats

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Jonathan Heathcote

@Jonheathcote

3 years

Apparently I have been at the Fed for 15 years.

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Jonathan Heathcote

@Jonheathcote

1 year

Nice post emphasizing that inflation is not sticky in New Keynesian models, so standard intuition about how they work is wrong.

John Cochrane

@JohnHCochrane

1 year

The Grumpy Economist: How do interest rates lower inflation?

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Jonathan Heathcote

@Jonheathcote

3 years

I saw some great papers at the SED. One by @cristinarellano Amador and Aguiar. They take an Aiyagari economy, with proportional taxes, debt and LS transfers. They show that when the equilibrium interest rate is negative, one can construct Pareto improving tax reforms!

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Jonathan Heathcote

@Jonheathcote

8 months

@zoeschlanger @TheAtlantic I’d like to know why Phoenix is the fastest growing city in the US, even though it is crazy hot, and why the Miami housing market is booming, even though the city may soon be under water.

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Jonathan Heathcote

@Jonheathcote

26 days

First time on Spotify! You can listen to me talking to @cfarrellecon about my work with @_jofleck @KStoresletten and @glviolante on differences in taxation across U.S. states for @HellerHurwicz

Heller-Hurwicz Economics Institute

@HellerHurwicz

26 days

The federal income tax code is progressive. Now, we all know that, but what about state and local taxes? How progressive are they? And how much does progressivity vary among the states? Economist Jonathan Heathcoat investigates: listen here 👇👇

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Jonathan Heathcote

@Jonheathcote

2 months

@ATabarrok They rebuilt the I35 bridge in Minneapolis in 13 months at a cost of 250m in 2007-08. I would recommend using the same company — Flatiron Construction.

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Jonathan Heathcote

@Jonheathcote

6 years

@Ocasio2018 @IlhanMN @AyannaPressley @RashidaTlaib It is important to remember that healthcare and college are expensive to provide. Someone has to pay for their provision, so they cannot be "free" to everyone. And it seems reasonable, for example, that people who attend college pay the cost rather than people who do not attend.

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Jonathan Heathcote

@Jonheathcote

4 years

A lot of awesome names on this list, especially (for macro) Manuel Amador, Chris Edmond, Chad Jones, Greg Kaplan, Matthias Doepke, Jesus Fernandez-Villaverde, Pierre-Olivier Gourinchas, Nicola Fuchs-Schundeln, Martin Schneider, probably others I missed.

Content

www.econometricsociety.org

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Jonathan Heathcote

@Jonheathcote

4 years

Congratulations to Job Boerma for a very successful defense!

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Jonathan Heathcote

@Jonheathcote

4 years

New work on the long run effects of recessions on inequality, with Fabrizio Perri and @glviolante via @WSJ

The Urgency of Returning to Full Employment

Recessions have contributed to long-run rise in inequality; undoing this one’s effects will be hard.

www.wsj.com

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Jonathan Heathcote

@Jonheathcote

3 years

A simple tip for all research economists. Do not (exclusively) post links to journal versions of your articles, or to NBER versions of your working papers. Lots of people won't be able to access them, and fewer people will get to read and cite your work.

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Jonathan Heathcote

@Jonheathcote

6 months

@cristinarellano and I wrote a paper, a long time ago, about one possible benefit of dollarizing. The idea is that, once dollarized, a country cannot use monetary policy, via seigniorage, to respond to fluctuations in spending needs. Thus, preserving access to international

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Jonathan Heathcote

@Jonheathcote

1 year

@sc_cath Good question. No one who cannot answer it should be advocating for a wealth tax.

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Jonathan Heathcote

@Jonheathcote

2 years

@arpitrage Isn’t the answer Africa for everyone?

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Jonathan Heathcote

@Jonheathcote

11 months

A big loss for the Fed.

St. Louis Fed President James Bullard Steps Down

The longest serving current Fed president will become dean of the business school at Purdue University.

www.wsj.com

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Jonathan Heathcote

@Jonheathcote

4 years

Great news!

Mariacristina De Nardi

@M_De_Nardi

4 years

I am thrilled that Kjetil Storesletten will be joining the Economics department at the University of Minnesota as the Fink Professor of Economics!

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Jonathan Heathcote

@Jonheathcote

9 months

Our original COVID paper is finally published, and available ungated here. In the final version we introduced an analytically tractable model of optimal redistribution through taxes, transfers, and government debt. We show that the extent of optimal shutdowns is quite sensitive

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Jonathan Heathcote

@Jonheathcote

5 years

The three tallest and most beautiful economists at the NTA conference. ( @Abdounomics Jon Boerma, and me)

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Jonathan Heathcote

@Jonheathcote

3 years

For those (still) interested in COVID, shutdowns, unemployment, redistribution through taxes & transfers, vaccines etc, @andyecon , Krueger, Rios-Rull and I have drastically revised and updated our Health versus Wealth paper:

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Jonathan Heathcote

@Jonheathcote

4 years

Javier is working for all of us!

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Jonathan Heathcote

@Jonheathcote

3 years

Check out this awesome new issue of RED. There is something for everyone!

SED Meeting

@SEDmeeting

3 years

Review of Economic Dynamics, Volume 42 (October 2021) is out! Read it here: @RevEconDyn

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Jonathan Heathcote

@Jonheathcote

4 years

A summary of my recent paper with @glviolante and Fabrizio Perri by our fantastic in-house writer Doug Clement.

American inequality: The cruel role of recessions | Federal Reserve Bank of Minneapolis

Downturns scar laid-off workers and widen the income gap

www.minneapolisfed.org

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Jonathan Heathcote

@Jonheathcote

3 years

This is very very sad. I knew Tom from Penn, co-taught with him at Stern, and worked recently with him and Vincenzo on a special issue of RED to commemorate his revolutionary Frontiers of Business Cycles book. He was wonderful as an economist and a friend.

Lee E. Ohanian

@lee_ohanian

3 years

So sad to say that my PhD adviser, Tom Cooley, passed away yesterday after a battle with heart disease, which he had fought his entire adult life. A wonderful and loving person, an exceptional economist, and a great friend, Tom will be deeply missed, but never forgotten.

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Jonathan Heathcote

@Jonheathcote

2 years

I wrote a summary for Vox of my paper with Andy Atkeson and @fabrizio_perri on the dramatic decline in the US net foreign asset position.

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Jonathan Heathcote

@Jonheathcote

5 years

Conference tomorrow at Penn to celebrate 25th anniversary of "Frontiers of Business Cycle Research" edited by Tom Cooley.

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Jonathan Heathcote

@Jonheathcote

5 months

City I dislike: St Paul City I think is overrated: St Paul City I like: Minneapolis City I love: Minneapolis City I feel most myself in: Minneapolis City I still need to visit: St Paul City I dream of living in: Minneapolis

Jonathan A. Parker

@ProfJAParker

5 months

City I dislike: Chelmsford City I think is overrated: Brookline City I like: Somerville City I love: Boston City I feel most myself in: Newton City I still need to visit: Taunton City I dream of living in: Wellfleet

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Jonathan Heathcote

@Jonheathcote

2 years

Huge loss for the NY Fed and the Fed System.

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Jonathan Heathcote

@Jonheathcote

3 years

Another great issue. And Robert Barro finally gets a paper published in RED!

Review of Economic Dynamics

@RevEconDyn

3 years

Volume 39 (January 2021) is out! Learn about rare events, involuntary unemployment, production networks, inter-dealer trades, sectoral labor productivity, unobserved heterogeneity and skill loss, and much more. Don't miss it!

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Jonathan Heathcote

@Jonheathcote

2 years

From first-generation college student to department chair

Professor Tom Holmes reflects on his experience as the first in his family to attend college.

cla.umn.edu

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Jonathan Heathcote

@Jonheathcote

1 year

@1954swilliamson It’s horrible. Hate how some people only want to put economic ideas and economists into partisan boxes.

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Jonathan Heathcote

@Jonheathcote

5 years

Optimal Income Taxation: Mirrlees Meets Ramsey via @MinneapolisFed

Optimal Income Taxation: Mirrlees Meets Ramsey | Federal Reserve Bank of Minneapolis

www.minneapolisfed.org

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Jonathan Heathcote

@Jonheathcote

3 years

People complain about gas prices, but gas in the US is pretty cheap. Suppose your car gets 35mpg and you drive 35 miles per day. You need 1 gallon of gas per day, which is about $3.50. About the same price as a latte at Starbucks. Less than the cost of public transport.

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Jonathan Heathcote

@Jonheathcote

2 years

I discussed a very nice paper by @TitanAlon , Kim, @LagakosDavid and VanVuren on the impact of Covid-19 across the world income distribution at the IMF Annual Research Conference in November. David's presentation and my discussion (at minute 25) are here:

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Jonathan Heathcote

@Jonheathcote

3 years

@FlorinBilbiie AEJ Macro is for macro papers, AER is for micro papers. AEJ Micro, AEJ Applied and AEJ Policy are for more micro papers.

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Jonathan Heathcote

@Jonheathcote

4 years

Zhifeng Cai and I have updated our paper on college tuition. The message is that the main driver of tuition growth since 1990 is widening income inequality.

College Tuition and Income Inequality | Federal Reserve Bank of Minneapolis

www.minneapolisfed.org

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Jonathan Heathcote

@Jonheathcote

5 years

If you looking to hire in macro / labor this year, you should be on the Job market. Because Job Boerma is fantastic! Here is his webpage: Let me know if you would like to know more.

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Jonathan Heathcote

@Jonheathcote

2 years

A graphic nicely illustrating the massive racial discrimination against Asian students at Harvard.

Michelle Tandler

@michelletandler

2 years

Harvard is nixing the ACTs & SATs through 2026 and when you look at these charts it's pretty easy to understand why.

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Jonathan Heathcote

@Jonheathcote

3 years

@BBCNews This is a poor article. If we vaccinate everyone with a 90% effective vaccine the virus will quickly die out.

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Jonathan Heathcote

@Jonheathcote

2 years

Egor explores optimal taxation of single and married couples. Should the US move to tax at the individual rather than household level? Egor finds the answer is no, but married couples should be taxed in a less progressive way than singles.

Heller-Hurwicz Economics Institute

@HellerHurwicz

3 years

Candidate @egor_malkov looks at "Optimal Income Taxation of Singles and Couples." His research agenda centers on topics in macroeconomics, labor economics, and public economics. Egor's advisors are @fatihguvenen , Larry Jones, and Fabrizio Perri.

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Jonathan Heathcote

@Jonheathcote

11 months

Impressively long check in line at the Sonesta

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Jonathan Heathcote

@Jonheathcote

4 years

Our work on the distributional effects of shutdowns

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Jonathan Heathcote

@Jonheathcote

5 years

@dynarski They are absolutely top notch economists. But their argument is primarily moral and political rather than economic. They simply want a society in which there are no very rich people.

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Jonathan Heathcote

@Jonheathcote

1 year

Awesome Simon is sticking with us!

Simon Mongey

@Simon_Mongey

1 year

Incredibly excited to join the @MinneapolisFed Research Division in a permanent position. Between the Fed and the U, this is a truly remarkable environment for a macroeconomist. We're thrilled to be here. Thanks to all that have made it happen.

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Jonathan Heathcote

@Jonheathcote

6 years

This is extremely generous. But likely not the best use of money. Returns to early childhood education are likely much larger. Also, the research Bloomberg references shows that elite private schools are not the best engines of upward social mobility.

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Jonathan Heathcote

@Jonheathcote

1 month

@FOX9 @MayorFrey I don’t know about the foot traffic statistics, but the crime numbers in the article are wrong. Robberies are up 25 percent year on year. Homicides are flat, it down. (I’m looking at the Minneapolis crime dashboard).

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Jonathan Heathcote

@Jonheathcote

4 years

Old and young disagree about the optimal size and duration of shutdowns, as do workers vulnerable to shutdown versus essential workers. When redistribution is costly, disagreement is especially acute, and more moderate shutdowns are better

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Jonathan Heathcote

@Jonheathcote

4 years

Another great issue of RED!

Review of Economic Dynamics

@RevEconDyn

4 years

The October Volume is out! Great papers that you don’t want to miss:

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Jonathan Heathcote

@Jonheathcote

4 years

A summary of our recent article I wrote for VOX:

Health versus wealth: On the distributional effects of controlling a pandemic

Large portions of many countries’ economies have been shuttered to slow the spread of COVID-19. Why, three months into the pandemic, does the optimal policy response remain so controversial? This...

cepr.org

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Jonathan Heathcote

@Jonheathcote

3 years

@JonSteinsson Yours is a nice essay Jon. But it’s not as though we didn’t know MPCs were big in heterogeneous agent models till HANK came along. My dissertation was on that topic. I agree that monetary economics was late to heterogeneity, but not so much macro in general.

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Jonathan Heathcote

@Jonheathcote

2 years

Disgraceful

Robin Brooks

@robin_j_brooks

2 years

EU imports of Russian Energy 1. Oil: Jan - May 21: €25 bn Jan - May 22: €43 bn => +71% 2. Gas: Jan - May 21: €6 bn Jan - May 22: €21 bn => +260% 3. Coal: Jan - May 21: €1.5 bn Jan - May 22: €4.0 bn => +170% You wouldn't know there's a terrible war in Ukraine...

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Jonathan Heathcote

@Jonheathcote

4 years

Many people seem to be arguing that (1) shutdowns matter very little if at all for economic activity and (2) shutdowns matter a lot for reducing COVID infection and mortality. These two views are inconsistent.

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Jonathan Heathcote

@Jonheathcote

2 years

Johannes is a great student -- & co-author! His exciting JMP is about variation across US states in MPCs out of stimulus checks (a la @ProfJAParker & Souleles). He correlates this variation with cross-state variation in tax progressivity & connects the two in a structural model.

Economics at EUI

@EUI_ECO

2 years

Johannes Fleck's job market paper shows that fiscal policies of US state governments determine the household consumption response to stimulus payments 👉 #EconJobMarket #EconTwitter #EUI

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Jonathan Heathcote

@Jonheathcote

2 months

NBER Inequality and Macro submission deadline is this Thurs March 21, midnight. 👇

Jonathan Heathcote

@Jonheathcote

4 months

Call for papers! As part of the NBER's Summer Institute, @raquel1fernan Roland Bénabou and I are organizing the "Inequality and Macroeconomics" workshop on July 16-17, 2024. Submission deadline is March 21. Please submit here:

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Jonathan Heathcote

@Jonheathcote

1 year

The college application essay is the perfect application for ChatGPT. Writing these essays is a painful task, and automating it should allow students to devote more time to their studies. Perhaps ChatGPT can grade the essays too, delivering fairer and more efficient admissions.

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Jonathan Heathcote

@Jonheathcote

8 months

@zackstephenson I hope you were not coming to run the Marathon.

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Jonathan Heathcote

@Jonheathcote

10 days

There is apparently a deal in place for Uber and Lyft minimum payments to drivers in Minnesota. The Strib article lays out the per mile and per minute rates, and gives an example in which a driver would make at least $17.45 for a 15 minute trip. The city of Minneapolis initially

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Jonathan Heathcote

@Jonheathcote

3 years

Cookies increase learning by 20%!

Ethan Mollick

@emollick

3 years

Hmmm... maybe student evaluations don't actually measure learning? Sections had the same teachers & curricula, except some were given cookies at the final class. In the class evaluation, teaching scores for the🍪group were much higher & they also reported they learned 20% more!

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Jonathan Heathcote

@Jonheathcote

5 months

@MplsWard9 Jason. You voted against funding to recruit and retain police in Minneapolis. Who do you think should be responding to and investigating these violent crimes?

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Jonathan Heathcote

@Jonheathcote

3 years

Current stimulus proposal implies large increases in marginal tax rates for households in the phase-out region. A married household with 2 kids making between $150 and $200k will face around a 10pp higher marginal rate (losing 4*1,400 as income rises from 150 to 200k). 1/2

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Jonathan Heathcote

@Jonheathcote

2 years

@binarybits But what do these stats even mean? Are all these paycheck to paycheck households contributing zero to 401k’s? Are they building zero home equity? Are they investing nothing in their kids’ educations?

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Jonathan Heathcote

@Jonheathcote

3 years

@mdoepke Reminds me of this paper by Boar and Lashkari which argues that children from affluent families tend to choose more fun but less lucrative jobs (eg academia).

Boar_Lashkari_IGM.pdf

drive.google.com

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Jonathan Heathcote

@Jonheathcote

2 years

The latest version of our paper on the US net foreign asset position. We will present it this Friday at the NBER EF&G Winter Meeting , and are looking forward to @helene_rey 's discussion.

The End of Privilege: A Reexamination of the Net Foreign Asset Position of the United States

www.nber.org

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Jonathan Heathcote

@Jonheathcote

2 years

Wow. Three awesome hires! We are super sorry to be losing Mark. Congrats St. Louis!

Oksana Leukhina

@oksana_leukhina

2 years

I would like to extend a warm welcome to our three most recent hires: Mark Wright @MarkLJWright (FRB- Minneapolis), Alexander Bick (Arizona State) and Serdar Ozkan @serdarozkanEN (previously Toronto). Welcome aboard @stlouisfed research: .

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Jonathan Heathcote

@Jonheathcote

1 year

Hybrid is always the worst option.

Rudi Bachmann

@BachmannRudi

1 year

The #ASSA2023 is dead. This major policy section on “Economic Shocks, Crises, and their Consequences” once would have been a major event at the ASSA with a full in-person panel. Of the 5 panelists, only 2 are here. The 3 from the sacred zip code did not bother to show up.

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