The CEPR European Conference on Household Finance 2025 began in Stockholm this afternoon with welcome addresses by Paolo Sodini and @haliassos.bsky.social. Three keynote presentations will follow by Michael Greenstone, Caroline Flammer, and @haliassos.bsky.social. #EconSky

"The Local Economic Impact of Natural Disasters" by Brigitte Roth Tran ( @brothtran.bsky.social ) and Daniel J. Wilson was just accepted at #JAERE. Read more here: buff.ly/17d9yEe

New survey of Masahisa Fujita’s foundational contributions to spatial economics by Duranton and Mori: link.springer.com/article/10.1...

‪ #econsky #urbanecon @arpitrage.bsky.social @vaidehitandel.bsky.social @amineouazad.bsky.social @jeffrlin.bsky.social @sandipz.bsky.social www.sciencedirect.com/science/arti...

Data on firm relocations reveal that nearly all wage differences between cities stem from the spatial sorting of workers and firms; Location-specific factors explain only 2–5 percent, from Pauline Carry, Benny Kleinman, and Elio Nimier-David https://www.nber.org/papers/w33779

A new version of the paper is now online, with tools for singularities, dynamics, and solving the classic Schelling urban model. If you leave your email here I'll send you a link to the full code integrated with the manuscript. papers.ssrn.com/sol3/papers....

Wed., 3/5 at 11am CT, join the Chicago Fed for “The Availability & Impact of Public & Private Funding Following a Natural Disaster.” Hear from: Daniel Hartley @benkeys.bsky.social Ralf Meisenzahl @amineouazad.bsky.social, @svaneksmith.bsky.social Register here: web.cvent.com/event/4df500...

Looking forward to this panel with Kristen, Ben, Daniel, Ralf, Stacey.

Shows little impact on overall embodied carbon emissions of 20 storey building to equivalent floorspace built in 10 or 5 storey form, after taking into account embodied carbon of required additional infrastructure. Bonus: Modelled using Canadian building code.

PSA: While the StatCan web interface is down today, the WDS API is still fully functional. The {cansim} R package makes it super-easy to access data from the API, complete with metadata. And it facilitates programmatic data discovery to find the tables and data you need.

Left X for good and happy to be here on blue sky permanently. It wasn't easy, 3300+ followers to leave behind.

We collectively haven’t been taking the plans laid out by Project 2025 seriously enough. They want to destroy NOAA so people won’t know that climate change is happening. It sounds stupid and alarmist if you haven’t been paying attention.

News: Bloomberg: "Fed Closes Climate Program, Ending Stress-Test Burden for Banks" NOAA: "Employees Told to Pause Work With ‘Foreign Nationals’". NOAA provides hurricane data. CFPB: "Bessent Freezes CFPB Work" CFPB is the provider of the most important mortgage finance data set.

The National Association of Home Builders explains what happens if we make inputs for home construction, such as Canadian lumber, more expensive.

An account of our 7-year empirical journey to document the climate securitization hypothesis — and the dollars spent by a $4t firm to silence the evidence. Hopefully the 130,000+ lines of code written to visualize the impact of hurricanes have been useful. open.substack.com/pub/policyan...

An account of our 7-year empirical journey to document the climate securitization hypothesis — and the dollars spent by a $4t firm to silence the evidence. Hopefully the 130,000+ lines of code written to visualize the impact of hurricanes have been useful. open.substack.com/pub/policyan...

Valuing real estate is challenging in this context: a cash flow approach will tell you that values are up, but a comparable sales approach will suggest a large discount.

Speaking on the LA wildfires in the Scotsman Guide, with estimates on the impact on LTVs and rates from our paper with Erkan Yönder and @mattkahn1966.bsky.social www.scotsmanguide.com/news/la-wild...

Registration now open for @urbaneconomics.bsky.social meetings in Berlin: urbaneconomics.org/meetings/emu.... Thanks to everyone who submitted papers (a record number, meaning difficult decisions for our program committee). If your paper was accepted you must register by Jan 30 to be on the program.

Policymakers who cannot commit to long-term plans tend to overbuild and maintain larger levee systems compared to those with time-consistent strategies, from Amine Ouazad and Matthew E. Kahn https://www.nber.org/papers/w33333

I look forward to catching up with folks at the #ASSA2025 meeting in San Francisco. I'll present "Internal Trade Barriers in India" on Sunday at 1pm in an "Economics of Transportation" session in Hilton US6. Session: www.aeaweb.org/conference/2... Paper: www.jdingel.com/research/Bar...

Multiple Equilibria in Quantitative Spatial Models. Slides of my talk at the Econometric Society in San Francisco on Friday. Leads to a numerical algorithm that provides counterfactual maps of cities. PDF version: www.dropbox.com/scl/fi/sacbe...

The peer review process should be opened in economics. One way to do this is to embrace @alphaxiv.org www.alphaxiv.org/explore/papers

Impressive work on optimal adaptation to flood risk in the USA taking into account spatial equilibrium and temporal dynamics

New wp with @mattkahn1966.bsky.social "Time Consistent Infrastructure Investments: Optimal Flood Protection Policies in Spatial Equilibrium" papers.ssrn.com/sol3/papers.... this builds on Kleinman, Liu, Redding (2023), on Kydland, Prescott (1977), and on the lit. on flood infrastructure. A 🧵

If you are in San Francisco, come either / or to one of our sessions. Our session at AFA 1/3, our session at the Econometric Society 2/3, or our session at AREUEA 2/3 . 2025 is the year of submitting papers, no more open projects!

New CBO report on the risks of climate change to the US in the 21st Century. www.cbo.gov/system/files... Citing two of our papers on PLS RMBS and GSE MBS.

`etwfe` v0.5.0 is now available on CRAN (and R-universe). grantmcdermott.com/etwfe/ As a reminder, `etwfe` makes it easy to estimate Extended TwoWay Fixed Effects a la @jmwooldridge.bsky.social. Super flexible and good for nonlinear models, recovering heterogeneous TEs, etc. #econsky #rstats 1/3

Quite a different estimate when looking at excess mortality due to temperatures and excess mortality due to hurricanes. One suggests adaptation, the other one suggests rising impacts. Complicated. www.nature.com/articles/s41...

Shout out to my co-author Xian Ng, on the job market out of Wharton Applied Economics this year, who has a very cool JMP using bunching methods to assess how households make one of their most important financial choices, the amount to borrow when buying a house! sites.google.com/jingxianng.c...

A relevant insight.

Rental contracts as bundles of futures. Are rents in contango or backwardation?

Interesting graph highlighting the different impacts of monetary policy on mortgage rates across countries -- although the Canadian bar is *slightly* misleading. Canadian rates reset at renewal, there is no 30-year FRM.

Our paper quantifying the negative effects of urban freeways on local neighborhood quality of life appears in the September issue of REStat. doi.org/10.1162/rest...

Excited to debut my new paper, "Housing Is the Financial Cycle: Evidence from 100 Years of Local Building Permits,” joint with @cortesgustavos.bsky.social. We document that building permits predict financial market volatility across a century of U.S. economic history. papers.ssrn.com/abstract=485...

🎈New Working Paper🎈with @ericoffner.bsky.social and @glennrudebusch.bsky.social Do higher interest rates hurt the green transition? Not so obvious! Evidence from equity markets in US and EU actually shows stronger effects of monetary policy on high-carbon, brown firms. #EconSky #Climate

Office conversions taking off: • 63 conversion projects in 2023 • 73 completed this year • 309 planned or under way, 3/4 office -> resi • 38k units in works • half of $1.12b in Manhattan office purchases were for conversions • 12% of Cleveland office space is converting www.wsj.com/real-estate/...

The Journal of the European Economic Association #JEEA is now on Bluesky: @jeeanews.bsky.social #EconSky 📉📈

Forthcoming in the AER: "Mortgage Pricing and Monetary Policy" by Matteo Benetton, Alessandro Gavazza, and Paolo Surico. www.aeaweb.org/articles?id=...

Thank you Steve for citing my recent paper on equilibrium multiplicity in Quantitative Urban Economics, a comprehensive review of the field. www.princeton.edu/~reddings/pa... The paper on equilibrium multiplicity. papers.ssrn.com/sol3/papers....

EconTwitter is never coming back to Twitter. The faster we realize that the happier we will be. Time to move on.

Forthcoming in the JEL: "Deep Learning for Economists" by Melissa Dell. #econsky www.aeaweb.org/articles?id=...

First paper, session three #UEA2024. Childhood exposure to public housing in New York improves labor market outcomes and reduces participation in federal safety net programs, particularly for children from the most disadvantaged families. Paper coming soon: raheemchaudhry.com/research/

I have na​ïve opinion/view Will it make sense to have a #firstgen Economists, starter pack ? @aaronsojourner.org

+1 idea: Can we provide Job Market Candidates a "forum" to post about their JMPs here (instead of (only) using X)? @aaronsojourner.org @tderyugina.bsky.social @julianreif.bsky.social @gaborbekes.bsky.social @joshgoodmanbu.bsky.social @o.simardcasanova.net (tagging some long-term bluesky supporters)

Welcome @cepr.org @nberpubs.bsky.social @aeajournals.bsky.social @qjeharvard.bsky.social, who all joined Bluesky recently! I added you and other new econ institutions' accounts to this Starter Pack. Thanks for posting here! go.bsky.app/4deCZJ2

For Bluesky-Curious Econ Lovers, a Quick Start guide to plugging into the economics community here. I wrote it hoping to lower the costs & boost the benefits for folks to engage here. If you think it's useful, please share it. 📉📈 #️⃣#️⃣ aaronsojourner.org/for-bluesky-...

A study of bank failures in the US from 1865 to 2023 finds that failures are primarily caused by deteriorating fundamentals, rather than bank runs, from Sergio A. Correia, Stephan Luck, and Emil Verner https://www.nber.org/papers/w32907

Home-Country Natural Disasters and Mental Health of Migrants (by Prashant Bharadwaj, Denise Doiron, Denzil G. Fiebig, Agne Suziedelyte) New in the Oxford Bulletin of Economics & Statistics #mentalhealth #migrants #naturaldisasters #economics #Australia 🔗 onlinelibrary.wiley.com/doi/full/10....