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Monday Sticky (self.badeconomics)

wumbotarianI want to be the Walrasian Auctioneer when I grow up[M] が 投稿 - stickied post

I can't think of anything to write.

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トップ新着論争中古い順Q&A

[–]urnbabyurnNeoPanglossian 6ポイント7ポイント  (0子コメント)

Ashley Madison is hacked. Hopefully this will give us a nice big data set on how to not get caught cheating.

[–]irondeepbicycleI got 99 problems but technological unemployment ain't one 5ポイント6ポイント  (4子コメント)

Man, I make a thread about trade and take a Reddit break for the evening, and when I get back there's a long discussion about feminism and triggering and PTSD and perceived racism. Can you not police yourselves, people!?

[–]HealthcareEconomist3Krugman Triggers Me 3ポイント4ポイント  (3子コメント)

More of note was when the post was made it included "Note: I don't think you meant any offense, but things started getting dicey down thread." there was nothing being discussed at all on these issues elsewhere in the thread, the one true macro god made a funny about how an idiot claimed economists oppose free trade triggered him and someone saw an attack on feminism.

I was the first person to show up and act like an asshole about it, the original slight was entirely imagined.

[–]irondeepbicycleI got 99 problems but technological unemployment ain't one 2ポイント3ポイント  (0子コメント)

I thought it was fun to read, for the record. I'm not really complaining, just observing how off topic the thread got.

[–]IntegraldsI am the rep agent AMA 1ポイント2ポイント  (0子コメント)

the one true macro god

brb updating my resume

[–]besttrousers"Then again, I have pegged you for a Neoclassical/Austrian." 0ポイント1ポイント  (0子コメント)

I was the first person to show up and act like an asshole about it

The Stackelberg Asshole

[–]NewmanTheScofflawGeorge Smiley 3ポイント4ポイント  (1子コメント)

Confirmed, my Monday is sticky. If only I could tax humidity.

[–]a_s_h_e_nA stable currency, like bitcoin 2ポイント3ポイント  (0子コメント)

tell me about it, the only break we get from the heat/humidity comes in the form of torrential downpours.

[–]0729370220937022 4ポイント5ポイント  (0子コメント)

Can we talk about brigading? With /r/BE getting more popular we are starting to affect the linked comments vote totals more.

I know we use NP links but sometimes it seems like its not enough. Do you guys think we should do anything about this? If so, what do you think we should do?

[–]HealthcareEconomist3Krugman Triggers Me 3ポイント4ポイント  (1子コメント)

Something interesting to consider with the recent wave of drug decriminalization.

[–]irondeepbicycleI got 99 problems but technological unemployment ain't one 0ポイント1ポイント  (0子コメント)

In Utah, the push to legalize medical marijuana is by a state Senator who was on prescription opioids, and almost accidentally overdosed. He was rushed to the hospital and managed to survive. Then he drove to Colorado and started using weed, and now he's pushing for dispensaries in Utah.

[–]IntegraldsI am the rep agent AMA 3ポイント4ポイント  (0子コメント)

Subfield Primers

Business Cycles

  1. Kydland and Prescott, Real Facts and a Monetary Myth. We need to start with data; this paper reviews the "business cycle facts." Don't let your eyes glaze over when you see the tables; they contain important information about volatilities, correlations, and autocorrelations.

  2. Romer and Romer, What Ends Recessions? This paper makes the case that monetary policy ended most recessions and contains a nice review of economic history in the US since 1945. Also read Cochrane's comments at the end.

  3. Cochrane, Shocks. This paper reviews what we know, and don't know, about the sources of business cycles. Also read Rotemberg's comment. A more up-to-date review is in Ramey's latest handbook chapter, due out next year. Both Cochrane's paper and Ramey's paper use vector autoregressions, which are the main tool used by macroeconomists to summarize macro data.

  4. Smets and Wouters, Shocks and Frictions. You're not getting out of here without reading a DSGE paper. This is the "standard medium scale model" and is notable for being one of the very few DSGE papers to make it into the AER.

Monetary Economics

  1. McCandless and Weber, Some Monetary Facts. This paper reviews the evidence for two key monetary propositions: the quantity theory linking M to P in the long run, and the neutrality proposition linking M to Y in the long run.

  2. Romer and Romer, A New Measure of Monetary Policy Shocks. This is, I think, our best evidence on the short-run effects of monetary policy shocks. Also read Cochrane's comments.

  3. Friedman, The Role of Monetary Policy. This one should speak for itself. Read every paragraph carefully.

  4. I already asked you to read Smets and Wouters, so this time I'll make you read Christiano, Eichenbaum,and Evans, Nominal Rigidities. This is the "other" medium-scale DSGE model used as a basis for policy analysis.

  5. Gali and Gertler, Macro Modelling for Policy Analysis, is a JEP that outlines some of the normative stuff we do. It also describes the New Keynesian model in AD/AS terms, which some might find helpful.

I think /u/commentsrus asked me to deliver on this last thread.

[–]UltSomnia 1ポイント2ポイント  (0子コメント)

Reminder that crash course economics is now a thing with a juicy comments section.

[–]wumbotarianI want to be the Walrasian Auctioneer when I grow up[S] 0ポイント1ポイント  (0子コメント)

Just gonna repost something I wrote in the old thread, which got buried in over 300 comments so I don't know if many people saw it.

So apparently my comment here was reported (twice) for basically being misogynistic.

I don't know if they were troll reports, but if they aren't I am sorry if I offended anyone.

Didn't mean to offend anyone, sorry if I did.

[–]dagio_ -1ポイント0ポイント  (0子コメント)

Over an hour later and neither the Botswana nor Namibia statistics office websites will load. Happy Monday.

[–]Meta-Cognition"Neoclassical Bernankean shill" 0ポイント1ポイント  (0子コメント)

Currently arguing with two socialists on a student forum. As I did with the Austrian last time, I'll give you the highlights.

  • "People should suffer because that's capitalism". (In response to me calling him out for saying we should have no welfare, so people can see capitalism for what it is).

  • "It is a fantasy to suggest that the welfare state is sustainable in capitalism. It is not. It requires all means of production to be geared towards the well being of everyone in society".

  • "De-contextualization is a weapon of the capitalist".

  • "If you want capitalism. LET IT BE! DO NOT TRY TO STOP THE UNSTOPPABLE! PEOPLE WILL SUFFER! DEBT FUELED SPECULATIVE BUBBLES JUST DEFERS THE BUST TO THE FUTURE! THIS IS INEVITABLE! THE GOVERNMENT AND/OR THE PRIVATE SECTOR WILL FAIL! THEN THE IMF WILL COME AND MAKE SURE PEOPLE SUFFER! SO STOP PLAYING GAMES! SOCIALISM NOW OR REMOVE BENEFITS!". (Yes, he's serious).

  • "Economics is not a science like gravity is, it's incredibly subjective and people pretend that their own ideological opinions 'work best'. Socialism v capitalism is not a matter of fact but of ideology and which you prefer".

  • "How surprising that rich, right wing economists form a 'consensus' which just so happens to favour their own financial interests. How convenient. . .".

  • "I'm not that left wing, the fact you feel I am proves how right wing the consensus is".

  • "Your type economics has led to recession after recession, a huge surge in global inequality , a huge increase in global warming, war after war, and incredible corruption".

  • "Not to mention the fact that the huge majority who go into economics tend to be right wing to start and they 'surprisingly' find 'conclusions' that rubber stamp their ideological views".

  • "Morality is hugely subjective, what is 'moral' to one person may not be so to another. You can not say that the Nazi ideology is 'wrong' you can disagree with it as I vehemently do of course, but 'wrong' according to what? Morality? And who says we need morality in the first place etc?" (I include this only because I'm an ethical non-naturalist; morality is objective, fuck you).

  • "At the heart of socialism is a better community for everyone. At the heart of capitalism is personal greed- to make as much money as you can for the betterment of yourself".

  • "But please, stop pretending your views are economic fact, when they are infact just ideological opinions which you pretend 'work'".

Sometimes I'm genuinely surprised I'm not a rage-motivated serial killer.

[–]devinejohSecretary of the Bitcoin Treasury 0ポイント1ポイント  (0子コメント)

I had no idea that the soctratic method can piss people off so much.

http://www.reddit.com/r/Economics/comments/3dthap/why_americas_obsession_with_stem_education_is/ct8ry7j

[–]Meta-Cognition"Neoclassical Bernankean shill" 0ポイント1ポイント  (0子コメント)

I also have a question about the balance of trade.

I know the general approach is just to 'ignore' it as a comparatively small issue, but does it actually have any impact on policy? Is it worth correcting.