My paper "Gross Worker Flows over the Life Cycle" (joint with Tomaz Cajner and Ilhan Guner) is now accepted at the Journal of Money, Credit, and Banking - thanks to my wonderful coauthors. The comments from an anonymous referee improved the paper a lot.
We have a work-in-progress 1st year PhD textbook. First half (almost done) is written by the four core authors, and the second half is written by each field’s experts. We have the 1st year PhD students in mind - meant to be the core materials, not the survey of the frontiers.
Soon I will start as a Coeditor of the Japanese Economic Review (JER) . The new Main Editor, Yuichi Kitamura (Yale), asked me to serve. Here are a few things about JER. 1/n
Our department lost Martin Evans last Nov and now Martin Ravallion. For me, just after learning the passing of Sanjay Chugh (macroeconomist from the same generation). All shocks came so suddenly and unexpectedly- reminding me that I should tell my thanks to people whenever I can.
As an associate editor, I know how hard it is to find a good referee. So I try to say yes to referee requests. In 2021 I wrote about 20 reports (aside from the ones for AE job). I spend a few days per report. In 2022, I wrote 1, and committed to 8 already. I’m a little afraid…
Lina's JMP shows that monetary policy affects different firms differently. Small and young firms' employment responds more to monetary shocks. She investigates housing collateral channel both from the data and from the quantitative theory perspective. She'll be a great hire!
My paper "Gross Worker Flows and Fluctuations in the Aggregate Labor Market" (joint with
@KrusellPer
, Richard Rogerson, and Aysegul Sahin) is forthcoming at RED. Here is the "Share Link" (free download until October 2, 2020):
Thread.
1/n
Reading JMPs of three students I am writing letters for. All great papers, mixing both data and theory, pushing the envelope of our understanding of the economy. Really hope all can find jobs they feel happy about, despite the difficult year.
My paper "Cyclical Part-Time Employment in an Estimated New Keynesian Model with Search Frictions" (joint with Mototsugu Shintani at University of Tokyo and Kazuhiro Teramoto at NYU) is accepted at JMCB.
Link to the paper:
I'm proud of all job candidates who are going through (and have gone through) this tough market. Long time ago, I myself (in the market not nearly as bad as this year) took until well into March to receive the first offer in my fresh Ph.D. market and started my career from
DP "Occupational Reallocation Within and Across Firms: Implications for labor-market polarization" by
@ToshiMukoyama
, Naoki Takayama, Satoshi Tanaka
@econtanaka
I am so saddened by the loss of my Georgetown colleague Martin Ravallion
@MartinRavallion
. It was sudden and I am still processing the shock. His poverty research touched many in the world, he educated many students, and he was also the face of
@GCER_Georgetown
here. RIP Martin.
My paper "Gross Worker Flows over the Life Cycle" (joint with Tomaz Cajner and Ilhan Guner) is now accepted at the Journal of Money, Credit, and Banking - thanks to my wonderful coauthors. The comments from an anonymous referee improved the paper a lot.
I meant 1st year PhD MACRO textbook.
We had a lot of discussions about "what would be the core of PhD macroeconomics, that we want ALL PhD economists (not just macro researchers) to know?" I keep thinking about it when I teach the 1st year PhD course myself every year.
We have a work-in-progress 1st year PhD textbook. First half (almost done) is written by the four core authors, and the second half is written by each field’s experts. We have the 1st year PhD students in mind - meant to be the core materials, not the survey of the frontiers.
My student Angelica Sanchez-Diaz is on the job market from Georgetown. She wrote an important JMP on entrepreneurship. Many have observed the US self-employment rate has been declining. She finds incorporated self-employment rate has been rising instead.
Back to campus! Thanks to my friends at the University of Tokyo for their hospitality during the summer visit. Now my coauthors and students can find me more easily😉
A descriptive analysis of the representation and geographic diversity of editors at prestigious economics journals.
The current draft of the working paper:
Github Repository:
I have two PhD students on the market this year: Lina Yu and Rodimiro (Rodi) Rodrigo . Both are excellent. I talked about Lina's JMP yesterday so let me talk about Rodi's today
@RodimiroRodrigo
Lina's JMP shows that monetary policy affects different firms differently. Small and young firms' employment responds more to monetary shocks. She investigates housing collateral channel both from the data and from the quantitative theory perspective. She'll be a great hire!
聞く側としては「間違っていると思ったら自分で手を動かして対案を出す("It takes a model to beat a model"という表現もあります)、あるいはまずは著者と直接メー���でコミュニケーションを取る」といったことを僕が勧めるのはこういう意図があってのことです。外部の人に「経済学は経済学者どうしが
I had my tenure reviews twice (UVA and Georgetown) and a number of people must have written tenure letters for me, and I don't even know who they are. I don't mind not being able to read the letters, but I do want to thank them for taking time to read my papers and write letters.
If you are on the job market or going up for tenure, just keep in mind that most likely a number of people wrote great things about you, and had your back. You'll just never see it.
昨年12月の講義も大変好評だった向山敏彦先生(Georgetown Univ.)に、今年も7月に連続講義”Heterogeneous Firms and Macroeconomics”をしていただけることになりました(全4回・オンライン開催)。事前申込が必要になりますので、CREPEホームページより登録をお願いします:
My paper "Cyclical Part-Time Employment in an Estimated New Keynesian Model with Search Frictions" (joint with Mototsugu Shintani at University of Tokyo and Kazuhiro Teramoto at NYU), forthcoming at JMCB. Now available online:
My paper "Cyclical Part-Time Employment in an Estimated New Keynesian Model with Search Frictions" (joint with Mototsugu Shintani at University of Tokyo and Kazuhiro Teramoto at NYU) is accepted at JMCB.
Link to the paper:
To add: "calibration" is mostly used in the context of theoretical exercise: evaluating how the model behaves. Before 1980s we used to take derivatives and say "C goes up when Y goes up"; now we can say "C goes up by a magnitude that is similar to the data when Y goes up."
I want to take a moment to defend calibration. A common critique of macro by non-macro people centers on the supposed lack of scientific rigor associated with calibration of models. 1/10
I usually write regular macro papers but also love to write these "conceptual" papers. I am always grateful when editors see merits in these new ideas. Q: how should we evaluate a policy that has heterogeneous effects if people can hedge the policy risk?
What if empathy toward future selves can be enhanced through cognitive effort? We study a model of optimal discounting and show that it can unify disparate empirical findings in the time preference literature
Call for papers: Japanese Economic Reviewの”Heterogeneity in Macroeconomics”特集号コンファレンスが8月に東京で開催されます。Philly Fedの中島さん
@makotonkjm
と僕がゲストエディターとなります。detailed abstract(あるいは論文)の締め切りは4月5日です。どしどしお送り下さい。