Lukas Freund @_LukasFreund_ Twitter profile

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Lukas Freund

2 years

I occasionally tweet summaries of papers I find particularly interesting/important/enjoyable or collect a number of thematically related pieces in a thread. This 🧵-of-🧵 collects them.

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Lukas Freund

@_LukasFreund_

1 year

Wow! Artist: an anonymous @PrincetonEcon undergrad student.

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Lukas Freund

@_LukasFreund_

3 months

🥳I loved my PhD @CamEcon & feeling fortunate that I'll get to continue doing research as a job alongside wonderful colleagues: I'll be moving to the 🇺🇸 first as a postdoc @Columbia_Biz , before joining @BostonCollege as an AP! Excited for this new chapter NYC → Boston!

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Lukas Freund

@_LukasFreund_

2 years

"tech firms hired one in seven newly minted PhDs [from ten leading economics graduate programmes in the US] in 2022, up from less than one in 20 in 2018"

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Lukas Freund

@_LukasFreund_

7 months

Excited to present my JMP: 𝗦𝘂𝗽𝗲𝗿𝘀𝘁𝗮𝗿 𝗧𝗲𝗮𝗺𝘀! ❓What do firms do? And why are they increasingly important in shaping labor market inequality? 👉This paper highlights the role of specialization, teams & competition for talent. 🔗 👇Summary-🧵

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Lukas Freund

@_LukasFreund_

2 years

👉 Individuals who excelled in the International Mathematical Olympiads born in poorer countries are systematically less likely to engage in knowledge production. "Invisible Geniuses: Could the Knowledge Frontier Advance Faster" by @RuchirAgarwal_ & Gaule (2020, AER:I).

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Lukas Freund

@_LukasFreund_

4 years

Who would have thought that it's the German Treasury --- repeat after me: the German Treasury! -- who pulls out the bazooka to fight a crisis! Unlimited liquidity support for firms (via KfW lending). Very good news re: mitigating -ve econ impact in both short- and medium-run.

Bundesministerium der Finanzen

@BMF_Bund

4 years

Bundesfinanzminister @OlafScholz zu Auswirkungen des #Coronavirus : Bundesregierung wird alles tun, um diese Krise zu meistern und unser Land gut durch diese schwierige Zeit zu steuern. Deutschland ist sehr gut aufgestellt, um diese Krise gemeinsam zu meistern. #CoronaVirusDE

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Lukas Freund

@_LukasFreund_

2 years

Such a neat paper by @pontus_rendahl : "Continuous vs. Discrete Time: Some Computational Insights" 🔗

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Lukas Freund

@_LukasFreund_

3 years

Very happy that @c_cantore & my paper "Workers, capitalists, and the government: fiscal policy and income (re)distribution" is forthcoming in the Journal of Monetary Economics 🥳 🔗 (open access 🙏 @Gates_Cambridge ) 👇 Summary-🧵

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Lukas Freund

@_LukasFreund_

4 years

The PhD can be tough and scary. But sometimes research -- and to me: econ -- is just beautiful and exhilarating. What a privilege to have time to ponder and puzzle.

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Lukas Freund

@_LukasFreund_

2 years

🚨New 📜"Superstar Teams" 🔗 ❓Does it matter for the macroeconomy who works with whom? 🔧Model of firm organization + micro data (🇩🇪+🇵🇹) 👉Yes! Importance of coworker interdependencies has ⬆️ & this helps explain⬆️between-firm inequality 👇Summary-🧵

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Lukas Freund

@_LukasFreund_

16 days

Rogerson's (2024) JEL paper argues that labor supply, and how it responds to policies, matters for understanding macroeconomic outcomes across countries -- more so than you'd think based on a typical undergrad macro textbook. 🔗 👇 Brief summary-🧵

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Lukas Freund

@_LukasFreund_

2 months

"Models, Measurement, and the Language of Empirical Economics" by Phil Haile is a great public good. 🔗 (I've recommended it in 1:1s many times, so thought it'd be worth tweeting it out, too.)

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Lukas Freund

@_LukasFreund_

3 years

Fascinating JMP by @JustinBloesch (with @BirtheLarsenCph and @Bledi_Taska ). Argues that productive firms share rents with workers only in occupations where workers have individual hold-up power; supported by a very careful theoretical framework and empirical implementation.

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Lukas Freund

@_LukasFreund_

4 years

Together with Pontus Rendahl I wrote a brief column on @VoxEU making the point that banks do not create money out of thin air -- at least not in an economically meaningful sense.

Banks do not create money out of thin air

In recent years, some have claimed that banks create money ‘ex nihilo’. This column explains that banks do not create money out of thin air. From an economic viewpoint, commercial banks create...

cepr.org

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Lukas Freund

@_LukasFreund_

2 years

Very happy to be spending this academic year @PrincetonEcon ! After a series of pandemic-related delays, it's all the more exciting to finally be here. Many thanks to @glviolante & Ezra Oberfield for hosting.

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Lukas Freund

@_LukasFreund_

1 year

🥳So happy that "The Risk-premium Channel of Uncertainty: Implications for Unemployment and Inflation" joint with fantastic co-authors @HanbaekLee ( @UTokyo_News_en ) & @pontus_rendahl ( @CBScph ) -- is now forthcoming in @RevEconDyn 🔗 (Open Access)

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Lukas Freund

@_LukasFreund_

2 years

❓How unequal is consumption between the top 0.01% and the median adult, before/during/after lockdowns? 👉How to answer this + many other Qs using granular bank transaction data from Spain in this paper by Carvalho et al. ❗️Amazing what 3bn transactions can shed light on 🧵

CEPR

@cepr_org

2 years

New CEPR Discussion Paper - DP17519 National Accounts in a World of Naturally Occurring Data G.Buda @bse_barcelona V.Carvalho @CamEcon S. Hansen @ImperialBiz @alvaroortiz1968 @TomasaRodrigo @BBVAResearch J. Mora @EdinburghUni

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Lukas Freund

@_LukasFreund_

1 year

Technological transitions are *slower* when skill specificity is *stronger* b/c it is driven less by the fast reallocation of older incumbent workers and more by the gradual entry of *younger* generations. One insight from Adao, @MartinBeraja , and @nityanayar (2022). A mini-🧵

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Lukas Freund

@_LukasFreund_

2 years

The debate about the likely effects, the pro's and con's of a 🇩🇪 ban of energy imports from 🇷🇺 on Twitter has been rather...lively, and the threads & replies are hard to trace. Would take lots of time to sort carefully, but... 👇a list of a bunch of threads I learned from (🙏)

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Lukas Freund

@_LukasFreund_

3 years

Beautiful new paper by @ChristianKWolf . => In an extended NK model, under strong Ricardian non-equivalence fiscal policy using stimulus checks can perfectly substitute for monetary policy (potentially s.t. ELB) in terms of implementable agg. allocations.

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Lukas Freund

@_LukasFreund_

2 years

Autumn...I mean fall, in Princeton

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Lukas Freund

@_LukasFreund_

3 years

🥳Excited that Wouter Den Haan ( @LSEEcon ), Pontus Rendahl ( @CBScph ) & my paper "Volatile Hiring: Uncertainty in Search and Matching Models" is now forthcoming in the Journal of Monetary Economics. 🔗 👇 Summary-🧵

Lukas Freund

@_LukasFreund_

3 years

Q: Does heightened 𝘂𝗻𝗰𝗲𝗿𝘁𝗮𝗶𝗻𝘁𝘆 worsen 𝘂𝗻𝗲𝗺𝗽𝗹𝗼𝘆𝗺𝗲𝗻𝘁 as employers postpone hiring (𝗼𝗽𝘁𝗶𝗼𝗻-𝘃𝗮𝗹𝘂𝗲 effect)? A: It depends ;) Comprehensively updated paper "Volatile Hiring," w/ Wouter Den Haan & Pontus Rendahl. 🔗 👇 Summary

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Lukas Freund

@_LukasFreund_

2 years

An informative diagrammatic literature review of the process by which the Real Business Cycle literature and Search-and-Matching literature merged, with contributions especially in the 1990s, by Valerie Ramey (h/t Wouter Den Haan).

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Lukas Freund

@_LukasFreund_

11 months

Borovickova & Macaluso (2023) use Austrian labor market data to underscore how worker with different life time earnings experience very different job-to-job mobility patterns -- connecting life-cycle earnings patterns to labor market mobility. 🔗

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Lukas Freund

@_LukasFreund_

1 year

What a beautiful paper. 🔗

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Lukas Freund

@_LukasFreund_

1 year

Broer- @jvkramer1 - @SorryToBeKurt use 🇩🇪 admin data on labor-market histories to study the heterogeneous incidence of monetary policy. 👉Monetary surprise shocks affect income growth more at the bottom of the earnings distribution, where separation rates are more countercylical.

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Lukas Freund

@_LukasFreund_

8 months

"Worker Mobility in Production Networks" -- neat paper that brings together employer-employee data and firm-to-firm transactions to demonstrate the role played by production networks in shaping the job search and matching process. 🔗

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Lukas Freund

@_LukasFreund_

2 years

Rich review of "Firms and inequality" in 🇬🇧 by De Loecker, Obermeier, and @johnvanreenen (part of the @TheIFS Deaton Review). 👉Firm inequality has increased: companies are looking ⏫different in terms of productivity, wages, markups and size. 🔗

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Lukas Freund

@_LukasFreund_

8 months

❓ What is the impact of "short-termism" for firms and the economy? 👉 Terry (2023, @ecmaEditors ) argues that even though for *firms*, short-term profit pressures can improve value by restricting R&D, at the *aggregate* level, it tends to lower growth and social welfare.

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Lukas Freund

@_LukasFreund_

5 months

I guess a job market experience isn't fully complete without a series of flight cancellations and exploring the possibility of driving a rental car from Canada to the US 😅

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Lukas Freund

@_LukasFreund_

5 months

Jaimovich-Terry-Vincent (2023) argue that modeling the distribution of idiosyncratic shocks that firms face in line with observed revenue dynamics -- instead of a Gaussian AR(1) specification -- can amplify the sensitivity of firm exit rates to economic shifts.

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Lukas Freund

@_LukasFreund_

1 year

Super interesting to see evidence on diffusion of novel technologies across (i) geographies and (ii) jobs with different skill levels... ... in this paper by @I_Am_NickBloom , Hassan, @AakashKalyani , Lerner, @tahoun100 . 🔗

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Lukas Freund

@_LukasFreund_

4 years

Very interesting @gideonrachman Review podcast episode with @adam_tooze on "The global politics of climate change". Particularly appreciated the connections made between geopolitics and climate policy, with color added through historical lens.

The global politics of climate change

www.ft.com

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Lukas Freund

@_LukasFreund_

3 years

"A PhD student learning how to do research" (video footage, ca. 2021)

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Lukas Freund

@_LukasFreund_

3 years

Q: Does heightened 𝘂𝗻𝗰𝗲𝗿𝘁𝗮𝗶𝗻𝘁𝘆 worsen 𝘂𝗻𝗲𝗺𝗽𝗹𝗼𝘆𝗺𝗲𝗻𝘁 as employers postpone hiring (𝗼𝗽𝘁𝗶𝗼𝗻-𝘃𝗮𝗹𝘂𝗲 effect)? A: It depends ;) Comprehensively updated paper "Volatile Hiring," w/ Wouter Den Haan & Pontus Rendahl. 🔗 👇 Summary

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Lukas Freund

@_LukasFreund_

4 months

"From Micro to Macro in an Equilibrium Diffusion Model" from Brooks-Donovan-Johnson offers such a fantastically transparent discussion of how RCT treatment effect estimates can be leveraged to calibrate a quantitative GE model (Section 3.3 especially). 🔗

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Lukas Freund

@_LukasFreund_

2 years

Elegant new working paper -- "New Pricing Models, Same Old Phillips Curves?" -- by @a_auclert , Rigato, Rognlie, @ludwigstraub . 👉 The aggregate Phillips curve for a menu cost model looks like the New Keynesian Phillips curve, but with a higher slope.

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Lukas Freund

@_LukasFreund_

2 years

Greatly enjoyed interviewing @helene_rey for @CamEcon & learning about her upcoming Keynes Lecture, broader research agenda, and the @cepr_org Women in Economics initiative she is leading. 👉Livestream tomorrow, Tuesday, at 5pm:

2022 Keynes Lecture - Interview with Professor Hélène Rey

Faculty of Economics PhD candidate Lukas Freund interviews Professor Hélène Rey about her upcoming Keynes Lecture "Is this Time Different? Financial Follies ...

www.youtube.com

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Lukas Freund

@_LukasFreund_

2 years

Revised📜 (w/ @pontus_rendahl + @HanbaekLee ): 👉𝐓𝐡𝐞 𝐑𝐢𝐬𝐤-𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐂𝐡𝐚𝐧𝐧𝐞𝐥 𝐨𝐟 𝐔𝐧𝐜𝐞𝐫𝐭𝐚𝐢𝐧𝐭𝐲 has qualitative & quantitatively important 𝐈𝐦𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬 𝐟𝐨𝐫 𝐔𝐧𝐞𝐦𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 𝐈𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧 🔗

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Lukas Freund

@_LukasFreund_

1 year

Super interesting paper by @pilossopher ( @DukeEcon ) & Jane Ryngaert ( @nd_econ ) 👉 Employed workers who expect higher inflation are more likely to search for jobs and are subsequently more likely to have a job-to-job transition. 🔗

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Lukas Freund

@_LukasFreund_

1 year

Working with micro data can be painful, having to go to a secure data room, cleaning, etc. *But*-- as I'm leaving said data room, hello Nuremberg -- isn't it also just *incredible* that we can study people's (un-) employment trajectories, see how wages evolve, and so on?!

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Lukas Freund

@_LukasFreund_

4 years

🚨 New working paper #EconTwitter 📃 "Unexpected Effects: Uncertainty, Unemployment, and Inflation," joint with Pontus Rendahl ( @Cambridge_Uni , @CambridgeINET ) 🔗 👇 Summary

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Lukas Freund

@_LukasFreund_

1 year

An interesting theoretical model to consider in the debate about "greedflation," by @MIHarding -Linde- @MathiasTrabandt (forthcoming in the JME). Incorporate Kimball (1995) quasi-kinked goods demand into a workhorse NK model -> convexity in optimal price setting and Phillips curve

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Lukas Freund

@_LukasFreund_

5 years

Investing time & effort into teaching isn't exactly incentivised in the academy/PhD, but when you receive feedback that tells you how doing so seems to have helped students, it's *so* worth it. (Normally hesitant sharing personal things, but this made me *so* happy.)

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Lukas Freund

@_LukasFreund_

2 years

Fantastic overview paper "The unreasonable effectiveness of optimal transport in economics" ( @AlfredGalichon ), covering the basics and many applications, as well as providing some deeper points of interpretation in the conclusion (see excerpt). 🔗

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Lukas Freund

@_LukasFreund_

16 days

What explains the sharply different inflation dynamics during the recoveries from the Great Recession & Covid-19? @SerdarBirinci9 @yfatihkarahan @ayusufmercan See (2023) argue that elevated worker mobility in post-pandemic times generated around 0.6ppts additional inflation.

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Lukas Freund

@_LukasFreund_

1 year

Acemoglu, @ufukakcigit , Celik (2022) look at one determinant of "radical" innovation: the contribution of younger managers & inventors. 👉 The ➕correlation b/w CEO age and radical innovations seems to be mostly due to sorting, rather than reflecting a (big) causal effect.

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Lukas Freund

@_LukasFreund_

5 years

Very much looking forward to joining @bankofengland Research Hub as a PhD intern for 12 weeks from tomorrow onward, to discuss and learn from the fantastic team of economists @BoE_Research , and gain a better understanding of how academic research can be made relevant to policy!

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Lukas Freund

@_LukasFreund_

4 years

Exactly 4 years ago we learnt that Leave had won the #Brexit referendum 52/48. I didn't sleep a single hour that night and spent the following Fri(day) in shock and disbelief. I suppose one personal lesson is not to take for granted liberties you greatly value.

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Lukas Freund

@_LukasFreund_

4 years

New work by @SorryToBeKurt & M Hagedorn stimulated several interesting exchanges about monetary + fiscal policy and their effects on inflation. Here is a thread pulling together the different strands to make the ideas more accessible. To me: #EconTwitter at its best.

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Lukas Freund

@_LukasFreund_

4 months

Fiscal rules are a prominent topic of discussion, including on here. But assessing "fiscal discipline efforts" is difficult b/c outcomes are imperfectly controlled by policymakers. Barnichon-Mesters (2024) propose a revealed-preference approach to measuring fiscal discipline.

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Lukas Freund

@_LukasFreund_

4 years

Computational Macro Summer School taught by Wouter den Haan, Pontus Rendahl and Petr Sedláček: 3-7 Aug & 10-14 Aug, this year hosted by @OxfordEconDept . #EconTwitter More info:

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Lukas Freund

@_LukasFreund_

4 months

Krusell-Thuerwaechter-Weiss ( @OnuWeiss ) document that investment by young firms is more sensitive to interest rate shocks & rationalize this through a life-cycle model with fixed adj costs. 👉Mon. policy will be less potent in economy with older firms. 🔗

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Lukas Freund

@_LukasFreund_

4 months

Thought-provoking @nberpubs WP by Hall & @MariannaKudlyak How to reconcile labor market recoveries with small moves in inflation? 👉Suggest this is not b/c of a flat Phillips curve, but b/c inflation pressure -- the gap b/w actual U-rate and NAIRU -- in recoveries is close to 0

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Lukas Freund

@_LukasFreund_

3 years

@mattyglesias @mattyglesias In case you haven't seen it already, @LukaszRachel 's paper on "Leisure-Enhancing Technological Change" is a great read on this topic.

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Lukas Freund

@_LukasFreund_

6 years

Some thoughts on math and writing in economics in blog post form, as triggered by @paulmromer 's summary of our Twitter exchange. @kerndrup @MacRoweNick @rodrikdani

6 Rules for Economics Writing

Paul Romer kindly unscrambled an exchange on Twitter from New Year’s Eve, the topic being “clear and precise scientific communication” and, in particular, the use of both math and…

lukasfreund.wordpress.com

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Lukas Freund

@_LukasFreund_

4 years

🚨 Short but hopefully sweet new macro theory paper on uncertainty & frictional labor markets, joint with Wouter den Haan ( @LSEEcon , @CFMUK ) and Pontus Rendahl ( @Cambridge_Uni , @CambridgeINET ). 🔗 👇 Summary #EconTwitter

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Lukas Freund

@_LukasFreund_

5 years

First draft of "Workers, Capitalists, and the Government: Fiscal Policy and Income (Re)Distribution" with @c_cantore ( @BoE_Research ) available. Feedback very welcome! #econtwitter #summary URL: 1/n

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Lukas Freund

@_LukasFreund_

4 years

"Distributional Considerations for Monetary Policy Strategy" by Feiveson et al. (2020) 👉Macroeconomic stabilization benefits of makeup strategies, such as average inflation targeting, are + larger in a HANK-type environment than in a rep. agent New Keynesian model.

Lukas Freund

@_LukasFreund_

4 years

Interesting background reading on (some of) the #Fed research informing its review of and today's announcement of a change in the monetary policy framework.

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Lukas Freund

@_LukasFreund_

2 months

Proud of my brother @AndresFreundTec -- with his skills & meticulous attention to detail -- for catching a malicious backdoor that could've posed a critical supply chain threat (⚡cyber attacks) in Linux systems. Shall also adopt the 👇 nickname: "silver back gorilla of nerds"

vx-underground

@vxunderground

2 months

The xz backdoor was initially caught by a software engineer at Microsoft. He noticed 500ms lag and thought something was suspicious. This is the Silver Back Gorilla of nerds. The internet final boss.

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Lukas Freund

@_LukasFreund_

1 year

A 🧵 on team production in science 🧪 & academia more generally: on benefits & bottlenecks and the joy when discovering an unexpected empirical result supporting a theoretical conjecture.

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Lukas Freund

@_LukasFreund_

3 years

Interesting paper & @voxeu column (links👇) by Coibion et al.: 👉Causal evidence for effect of macro-uncertainty on household spending 🔧RCT based on ECB Consumer Expectations Survey ❗️ (baseline): 1 sd⬆️in uncertainty⬇️monthly spending by almost 5ppt on impact+3months later

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Lukas Freund

@_LukasFreund_

7 months

Fascinating paper by @JHamilton_UCSD : Demand-driven business cycle fluctuations w/o nominal rigidities due to a team production requirement, ie production of some goods requires multiple, specialized workers committed in advance. 🔗

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Lukas Freund

@_LukasFreund_

4 years

𝗠𝗶𝗻𝗶-𝗰𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 on "Heterogeneity & Monetary Policy after COVID" 𝗦𝗽𝗲𝗮𝗸𝗲𝗿𝘀: Corina Boar,⁦ @ben_moll ⁩,⁦ @marcodelnegro 🗓️ Tuesday, 3rd Nov., 2pm GMT (Zoom Webinar) 𝗜𝗻𝗳𝗼 & 𝗿𝗲𝗴𝗶𝘀𝘁𝗿𝗮𝘁𝗶𝗼𝗻: Looking forward!

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Lukas Freund

@_LukasFreund_

3 years

Interesting new paper by Sorkin & Wallskog: "The Slow Diffusion of Earnings Inequality" 👉Many of the important US firm-level labor market trends in the last 30 years -- ⬆️ between-firm wage dispersion, sorting, productivity dispersion -- have an important cohort dimension.

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Lukas Freund

@_LukasFreund_

7 months

My colleague @CamEcon Vivek Roy-Chowdhury is not on Twitter *but* he is a fantastic JMC with expertise in micro-theory & experimental econ: Take a look at his JMP on "Temptation to Consume Information" (perhaps familiar to all of us on Twitter 😉): 🔗

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Lukas Freund

@_LukasFreund_

5 years

#MMT has received a ton of attention on #econtwitter and beyond over the past few months, but my impression is that exchanges b/w MMT-folks are often not v productive. Following thread covers 4 "meta observations" trying to pinpoint issues and suggest more productive ways. 1/n

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Lukas Freund

@_LukasFreund_

1 year

Princeton, New Jersey, USA. This European had to smile.

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Lukas Freund

@_LukasFreund_

3 months

"New work" is central to our everyday lives -- most of us work in job specialties introduced since 1940 (see figure) -- and understanding its nature/sources/consequences is key to a comprehensive picture of technological change. This paper documents "new work" in great richness.

QJE

@QJEHarvard

3 months

Recently accepted by #QJE , “New Frontiers: The Origins and Content of New Work, 1940-2018,” by Autor ( @davidautor ), Chin ( @caroline_m_chin ), Salomons, and Seegmiller ( @seegy22 ):

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Lukas Freund

@_LukasFreund_

2 years

A fantastic SITE 2022 session - The Macroeconomics of Uncertainty and Volatility. ~20 presentations illustrating the richness & breadth of research around this topic, and so fun to finally meet up in person!

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Lukas Freund

@_LukasFreund_

2 years

👇 adding additional threads pointed out to me (thanks!): ------ @sguriev & @itskhoki argue that stopping purchases of Russian oil and gas is likely to be the fastest + economically most efficient way to stop Putin’s war in Ukraine. (h/t @ben_moll )

Oleg Itskhoki

@itskhoki

2 years

w/ @sguriev we argue that European embargo on Russian oil and gas is the fastest way to end the war by stopping Putin’s ability to finance it. Any other policy option is more costly and dangerous. It is not just a humanitarian, but also an economic imperative for Europe. 1/n

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Lukas Freund

@_LukasFreund_

5 years

2 recent topics on #EconTwitter : i) why econ twitter & EJMR seem so fundamentally different; ii) this offer by @DinaPomeranz to junior academics. I find it hard not to believe that public norm/example-setting by individuals like her play a big role in explaining i). Thank you!

Dina D. Pomeranz 🟣

@DinaPomeranz

5 years

Econs & aspiring econs, if you have questions you'd like to ask the academic econ community about the academic process (e.g. RAing, PhD, publication process, etc.) you can DM or email me confidentially and I'll tweet out your questions to #EconTwitter without your name attached.

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Lukas Freund

@_LukasFreund_

8 months

💡steps toward bridging Keynesian & search perspectives in "A Theory of Non-Coasean Labor Markets" (Blanco @DrenikAndres @economoser @e_zaratiegui ), which can speak to inefficient job separations; those shape impact of monetary shocks & can be identified using standard microdata.

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Lukas Freund

@_LukasFreund_

2 years

New WP by @CarrilloTudela , @KaasLeo , Lochner: evidence from 🇩🇪 on how workers & firms match via different search channels. 👉 High-wage firms more likely to (i) hire through job postings, (ii) poach when using postings and (iii) hire a high-wage worker through this channel.

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Lukas Freund

@_LukasFreund_

5 years

🚨 New #EconTwitter research: decisive evidence against sticky price theory? H/t Michel Ghassibe

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Lukas Freund

@_LukasFreund_

7 months

Very interesting @nberpubs WP by @PaigeOuimet & G Tate on "Firms with Benefits". 👉In the US, firms which employ high-wage workers are also the firms that provide the most generous health benefits to their workers across the board. Much more in the paper, 🔗 below.

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Lukas Freund

@_LukasFreund_

2 years

Concerned about a strange, loud noise in Cambridge this eve? Don't worry, that was just me bellowing out 🇨🇭 Christmas carols into the laptop mic to compensate for me not being able to be with family in-person😅

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Lukas Freund

@_LukasFreund_

4 months

Coles & Kelishomi (2018, AEJ:Macro) emphasize how relaxing the free-entry assumption of the standard DMP model critically changes implied unemployment dynamics. With imperfectly elastic vacancy posting, job separation shocks play a more important role in driving U fluctuations.

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Lukas Freund

@_LukasFreund_

5 years

Interested in productivity (growth slowdown), hysteresis and the effects of the financial crisis? Then you should check out the paper "Intangible Investment and the Persistent Effect of Financial Crises on Output " by my @Cambridge_Uni colleague @RidderMaarten . 👇Summary 1/n

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Lukas Freund

@_LukasFreund_

2 years

Econ job market candidates getting ready to land a job. ( @KhoaVuUmn , oh grand master, am I doing this right?!)

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Lukas Freund

@_LukasFreund_

9 months

Thanks a lot for including me in the program, @andreas_gulyas , @kuhnmo @EfiAdamopoulou ! Lots of fun to present my Job Market Paper & receive feedback from this group :)

Andreas Gulyas

@andreas_gulyas

9 months

The @EPoS224 labor market workshop continues with @_LukasFreund_ presenting his work about superstar teams. @kuhnmo @EfiAdamopoulou

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Lukas Freund

@_LukasFreund_

2 years

Very cool that @XinchengQiu is -- not only doing amazing research but also -- organizing a virtual reading group/workshop on cutting-edge papers "Labor, Firms, and Macro" (cf. screenshot; sometimes other presenters like me sneak in.) Thanks a lot!

Xincheng Qiu

@XinchengQiu

2 years

@_LukasFreund_ told us about his work with Hanbaek and Pontus. The key insight is that uncertainty shocks ≠ aggregate demand shocks due to a risk premium channel that increases both unemployment and inflation, hence a flatter Phillips curve. See link:

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Lukas Freund

@_LukasFreund_

4 years

👇 Looking for distraction, #EconTwitter ? 📃 Extensively revised paper "Workers, Capitalists, and the Government: Fiscal Policy and Income (Re)Distribution," joint w/ @c_cantore 🙏 Incorporated valuable feedback 🔗 👇 Summary

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Lukas Freund

@_LukasFreund_

8 months

Super interesting paper by @MartaMorazzoni , using a rich combination of micro data and theory to demonstrate how student loans interact with entrepreneurial dynamics & exploring policy implications. 🔗

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Lukas Freund

@_LukasFreund_

2 years

Very cool paper by Yukun Liu that uses @EmsiBG data on online job vacancy postings to confirm the correlations between search frictions, expected returns, and cash flows implied by modern search-and-matching models. 🔗

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Lukas Freund

@_LukasFreund_

3 years

Over the holidays I'd motivated myself to take the #5kCookies challenge. Now Econ-Twitter motivated me to give the #aea5k a try.

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Lukas Freund

@_LukasFreund_

5 years

I really appreciated this podcast exchange between @ezraklein and @sullydish on identity politics, liberalism and conservatism - above all, for their attempt to listen to each other and understand differences as well as common ground.

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Lukas Freund

@_LukasFreund_

4 years

The tool that perhaps saved macro students more time and worry than any other -- now in version 3.0! Fantastic collection of codes and documentation.

Ambrogio Cesa-Bianchi

@AmbrogioCB

4 years

📢 The VAR TOOLBOX 3.0 is now available 📢 The VAR Toolbox is a collection of Matlab codes to perform Vector Autoregression analysis. It comes with a "Primer on VARs" (code + slides) with examples and replications of well-known papers [Short thread] 👇🏼

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Lukas Freund

@_LukasFreund_

1 year

👇Interesting @cepr_org DP by @tlebarbanchon , @MaddalenaRonchi & @juliensauvagnat , summarized in the 🧵below. 💡Hiring frictions have negative effects on firms’ employment, capital, sales and profits; especially in specialized & non-routine jobs.

Maddalena Ronchi

@MaddalenaRonchi

1 year

New CEPR WP with @tlebarbanchon & @juliensauvagnat is out! We study a topical subject 🔥: what is the role of hiring difficulties for firm growth? The pandemic has turned the spotlight on this issue as the share of firms unable to fill jobs hit a record high globally🌎📈

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Lukas Freund

@_LukasFreund_

8 months

Check out @lukasfmann 's ( @PrincetonEcon ) super cool JMP! He finds that spatial sorting of workers and firms plays an important role in linking aggregate inequality and spatial inequality, using a novel clustering method & a dynamic spatial search model.

Lukas Mann

@lukasfmann

8 months

📢 My Job Market Paper is now online! It digs into an important question we know surprisingly little about: Why has inequality across space increased in so many countries? It turns out, the answer to this question tells us a lot about... (1/8)

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Lukas Freund

@_LukasFreund_

3 years

Interesting evidence on household responses to job loss using Danish data in @voxeu column by Andersen & co-authors. ⬇️in spending accounts for 30% of ⬇️in disposable income, leaving a gap of 70% reflecting self-insurance. 🔑mechanism: lower accumulation of liquid assets (~50%)

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Lukas Freund

@_LukasFreund_

4 years

Happy to have completed an extensively revised version of 📄 "Workers, Capitalists, and the Government: Fiscal Policy and Income (Re)Distribution," joint with @c_cantore ( @BoE_Research ) Hopefully the old parts are sharper & the new bits interesting! 🔗

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Lukas Freund

@_LukasFreund_

6 years

@charliekirk11 Who is helped by such generalisations (crony capitalism and market socialism are just to tag lines to illustrate that it's more complex)?! Let's instead research which aspects of capitalism work and which need intervention by government to promote social welfare.

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Lukas Freund

@_LukasFreund_

4 years

@LukasHenselEcon @tatjanaschu Thank you for sharing, Lukas, and I hope you are doing as well as is possible given the circumstances.

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Lukas Freund

@_LukasFreund_

3 years

My friend & @CamEcon PhD colleague @OchsAdrian 's 📜 𝗔 𝗡𝗲𝘄 𝗠𝗼𝗻𝗲𝘁𝗮𝗿𝘆 𝗣𝗼𝗹𝗶𝗰𝘆 𝗦𝗵𝗼𝗰𝗸 𝘄𝗶𝘁𝗵 𝗧𝗲𝘅𝘁 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀 is now out as a @CambridgeINET working paper! 🔗 👇 mini-🧵

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Lukas Freund

@_LukasFreund_

6 years

An encouraging development -- and interesting parallel to the US? ( @Noahpinion , @SAshworthHayes ): "Negativity about immigration falls away sharply in Brexit Britain". Via @FT

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Lukas Freund

@_LukasFreund_

2 years

Really cool use of detailed personnel records in @VirginiaMinni 's ( @LSEEcon ) JMP to provide evidence of how good managers match workers’ specific skills to specialized jobs, boosting worker earnings and firm productivity. 🔗

Jennifer Doleac

@jenniferdoleac

2 years

Virginia Minni JMP: "Making the invisible hand visible: managers and the allocation of workers to jobs" Website:

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Lukas Freund

@_LukasFreund_

1 year

👇Cool paper by @jakekohlhepp using new theory + rich micro data (task assignments in hair salons) showing how the internal organization of firms matters for product quality & mediates the equilibrium effects of policies like minimum wages or sales taxes.

Jacob Kohlhepp

@jakekohlhepp

2 years

Hi #EconTwitter ! I am a labor economist with a background in theory on the 22-23 #EconJobMarket . Here’s a thread on my JMP. You can also check it out directly: #EconJMP #EconJMC

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Lukas Freund

@_LukasFreund_

5 years

Despite one rebuttal after another @guardian keeps publishing these under-researched pieces. L. Elliott doesn't seem to be on Twitter, but I would be so curious and grateful to @KathViner to hear what the rationale and justification for this publishing behaviour is? #EconTwitter

Rachel Glennerster

@rglenner

5 years

Here is the balanced response to last year's ignorant economics bashing from @guardian from @orazio_at @orianabandiera @ImranRasul3 and many others. The critique applies as much to this article as to last years, suggesting an unfortunately ability to listen and engage.

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