Starting to worry a bit about the last 2 minutes of my flight…

"Buy Now, Pay Later" apps like Affirm, Klarna and Afterpay have built a delirious new culture of consumption — and trapped users in a vortex of debt.

Very cool new paper from @danielmangrum.com and others at the NY Fed investigating BNPL. Conclusion: BNPLs are negatively-selected to consumers with worth credit, meaning the space is generally expanding credit with its growth. www.newyorkfed.org/medialibrary...

Hands down best example of AI enhanced productivity. Shoutout to peach puff

We are SO back

A few student loan stats. First 4 from our new blog post, last 2 from ED. 1. Nearly 1 in 4 student loan borrowers with a payment due was past due at the end of the first quarter libertystreeteconomics.newyorkfed.org/2025/05/stud...

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We have two new blog posts based on our (typically) annual Student Loan Update. The first one documents how the pandemic upended many trends with student loan balances, repayment, and delinquency. We also discuss whether we think those trends will revert now that pandemic supports have ended.

Imagine telling your 10-year-ago self that we might have found the cure for cancer and just decided… “Nah”

They’ve also deleted the page dedicated to the 761st Tank Battalion (my grandfather’s WWII unit) which was the first all black tank battalion. Archive: web.archive.org/web/20240625... Page was here: www.army.mil/blackamerica...

Anyone up for a beer this week at #AEFP in DC?

Your outie submits all of his referee reports on time and offers helpful feedback, never asking the author to cite his own work.

And this is why we winsorize.

Trade is supposed to exist to improve both parties. Shortsighted moves like this just drive both into the ground. Luka and LeBron are both ball dominant and this leaves the Lakers with no bigs. Dallas just lost the centerpiece to the future of their franchise for an oft-injured 32 year old.

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Anecdote from my spin instructor this morning: “What do yall think about this congestion pricing? At first, I was pissed. Paying $9 just to go through the city? But I’ll tell you what. I had to go from Brooklyn into Jersey the other day and normally that would’ve taken an hour and a half…

Happy Congestion Pricing Day to all who celebrate

NBA might need a mercy rule…

Post-COVID ridership record: The subways recorded 4,374,300 paid riders on Wednesday, December 4. That is a new pandemic era high and 82% of the pre-pandemic peak.

An election result fit for even the finest of bandwidths.

Ja Morant really just did that🔥

The AEA Summer Fellows Program application portal is now open. #econsky aeaweb.org/about-aea/co...

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Trains are screwed and Overleaf is down? That alien invasion prediction may have been right.

PS: Avoid hosting your JMP or CV on Dropbox or Google Drive if possible. An annoyingly high number of Fed and government systems have these domains blocked.

1/ 🤔 Ever wondered if pairing socially isolated students with popular peers helps or hurts their outcomes? My job market paper explores this through a large-scale RCT across Indian schools. Thread below 🧵 #EconSky #EconJobMarket #JMP

What a statement win! #GoTigersGo #NotDoneYet

Very annoying to walk by all my great local restaurants whose outdoor dining areas have been replaced by free parking. Just insane levels of value destruction thanks to NYC City Council

Later, #2024APPAM! Sup, #SEA2024?

Now that it is JM season, let me urge JMCs not show regression results as a giant table. Make it a bar chart! Make it lines! Anything but giant numbers to hypnotize your audience. That is bad! I cannot emphasize how quickly I zone out when faced with a large table 50 minutes into a job talk.

Hi Bluesky! If you’re interested in nonpartisan, data-driven information on New York City’s budget, economy, or public policy, follow us! From education and housing to social services and revenue forecasts, we cover it all and break down how it impacts you and the City.

I’m in DC for a marathon week of conferences! First up, the US Dept of Education Office of the Chief Economist Inaugural Research Conference this afternoon. I’m excited to see lots of higher ed research from this awesome group!

Education scholars heading to #APPAM2024 - @christocleve.bsky.social and I are organizing an informal happy hour meet up Thursday night 11/21 at The Brass Tap, 7pm! Would love to reconnect with folks while we're all together next week. Please amplify and feel free to invite others!

I'll be presenting my paper with Yaa Akosa Antwi and Marion Aouad on debt in collections and hospital billing caps in CA (www.philadelphiafed.org/-/media/frbp...) at both APPAM and SEA this week. Looking forward to connecting with people at both conferences!

And this is a prime example of why I have to buy the premium version of NBA League Pass every year. The gems during timeouts and halftime are worth every penny.

A shame to see one of my favorite (heated!) outdoor dining setups is now parking for a jeep.

Looking forward to connecting with folks in DC/MD later this week at APPAM and SEA. I’ll be presenting a new paper on financial education and pandemic-era financial decisions (as well as discussing a couple awesome papers) at APPAM.

While the statistic below is undoubtedly true, there’s a glimmer of optimism regarding credit card delinquency when we consider the transition into newly 90+ day delinquent credit card debt. (More details in a🧵.)

Got the ball rolling on a Fed Economists starter pack go.bsky.app/GudXeoo Fed economists, let me know if you’re on Bluesky and I’ll add you

“Subject: Decision on Manuscript ID…”

Slow boiling the frog will likely only mute the demand response. The goal of the program is to induce a demand response…

Great seeing our work picked up but always important that this is aggregate total debt to macro level PCE and doesn’t consider household level differences which is a much harder question. Hopefully more on that to come…

I've created a starter pack I'm calling "Education economics and policy", based on folks I follow in this area. Please let me know if I've missed you! go.bsky.app/GHJzy4L

New paper: How did financial education impact household financial decisions during COVID-19? Our new paper finds that financial education increased the likelihood individuals made some opportune pandemic-era credit decisions. #FinancialEducation [1/7] www.newyorkfed.org/medialibrary...

That was an earthquake, right?

America has a thing called Trunk or Treat where people dress up, drive to a parking lot, and pretend it's ok we don't have walkable communities anymore.