Chatting with Gabriel Ulyssea (UCL) about informality, gains from trade, migration, social housing, rain-fed cisterns & some more. #econsky heterogeneousagents.substack.com/p/chatting-w...

Chatting with Rafael Dix-Carneiro (Duke) about labor market responses to tariffs, gains from trade in developing countries, trade liberalization & crime, policy implications from trade liberalization & some more. #econsky heterogeneousagents.substack.com/p/chatting-w...

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I use the new Kaldor facts to compare China with the US. Institutions, ideas, human capital, urbanization & size of the market all matter for prosperity. The US is still the technological frontier. For how long? Societies make choices. Link to article in comments. #econsky

A new article by Benito Salomao on taxation, distortions, inequality, welfare & democracy, with Brazil in mind. Brings South Africa to mind too. Link to full article in comments. #econsky

Chatting with @adreher.bsky.social about Chinese aid & public support (for China), Western aid & political violence, US bilateral aid & the United Nations Security Council, aid & diffusion of economic activity, & some more. Link to full chat in comments. #econsky

Chatting with Jesus Fernandez-Villaverde about Chinese growth, convergence, barriers to technology adoption, institutions, fertility rates, ideas, R&D, future growth, geoeconomics, power & more. Link to full chat in comments. #econsky

Benito Salomao on central bank independence, democracy, technocracy, inflation and welfare, with special attention to Brazil. Link to article in comments. #econsky

Sad to see the assault on #institutions and people by those masked federal thugs (the henchmen). Yes, masked thugs in #America. But it is also encouraging to see how #civilsociety is reacting to the assault. The Boss says everything below. youtu.be/wWKSoxG1K7w?...

Chatting with Christian Bjonrskov about regime change, colonialism, economic development, types of colonies, economic crises, Latin America, Africa, US, Europe and some more #econsky 👇👇

Rules have to be designed to ensure that the South African Reserve Bank is well-staffed, efficient, transparent & accountable. Rules have to be designed to ensure that the Banco Central do Brasil is well protected from rent seeking actors. #econsky heterogeneousagents.substack.com/p/central-ba...

What a night!! Me, the Mother and the Blond, what can possibly go wrong?

Visiting Mother and enjoying the sunset from her balcony in Porto Alegre, Brazil.

Got this collection by the King and now I can't stop shaking.. fantastic stuff!

Democracy & civil society in Venezuela & Chile over time. A tale of two countries.. #econsky #Venezuela #democracy #prosperity

GDP per capita & economic growth in Venezuela (which one day was a democracy) & in Chile (which one day was a dictatorship). #Venezuela #econsky #democracy #economicgrowth #statecapacity

Democracies are associated with economic growth & prosperity. Democracies tend to be associated with better governance. Venezuela decided to go the opposite way, no democracy, no growth, no prosperity, no governance, hyperinflation.. #venezuela #economicgrowth #statecapacity #democracy #econsky

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Six months ago, Benito Salomao, Douglas Elmauer & myself launched Heterogeneous Agents, a Substack with articles, chats, resources & notes for economists. We've now reached 1,000 subscribers. Feel free to subscribe, Heterogeneous Agents is free! Link below & in bio. #econsky

Chatting with @JohnHCochrane about inflation, fiscal reforms, commitment, expectations, micro reforms, institutions, bail outs, & some more. Have fun! Link to full chat in comments below & in bio. #econsky

Chatting with @DavideRomelli about financial frictions & R&D investment, gender equality & climate change in central banks, central bank independence & lower inflation, & central bank independence and its role in development. #econsky

Christmas market has finally arrived, Heidelberg, Germany.

A crispy Saturday in Heidelberg, Germany.

A short article on price & rent controls, the Brazilian heterodox experience in 1986 known as the Plano Cruzado. Have fun! #econsky #brazil #inflation #unemployment #pricecontrols #rentcontrols heterogeneousagents.substack.com/p/price-and-...

Interview by Douglas Elmauer on the effects of the Brazilian interest rates on economic activity. It's beginning to bite. #econsky #Brazil #Inflation #Unemployment heterogeneousagents.substack.com

Article by @BenitoSalomao on the recent Brazilian soft landing, lower inflation, lower unemployment. What's going on? Benito provides some first-principles insights. #econsky #inflation #unemployment #brazil #welfare heterogeneousagents.substack.com

Heidelberg, Germany, from the castle, on a Friday evening.

📢Article by Benito Salomao on the proposed Brazilian tax reform. He touches on principles such as neutrality, simplicity and equity. He argues the reform is a small step in the right direction.👉 #econsky #brazil #taxation #macroeconomics #welfare👇 heterogeneousagents.substack.com/p/the-unequi...

A foggy evening in Heidelberg, Germany.

Heidelberg, from the philosophers weg.

Friday evening in Heidelberg

I wrote a piece on literacy, human capital formation, state capacity & development in South Africa. Link in the comments. #econsky #publicgoods #statecapacity #southafrica #stateformation #democracy #Education

'Full moon' in Heidelberg..

This is the site of the old synagogue, in Heidelberg. Sobering moment.

Recall the Nobel going to Mokyr, & Aghion & Howitt? It feels like a long time ago.. @PeteKlenow does a great job in intuitively describing Aghion & Howitt. #econsky cepr.org/voxeu/column...

A super insightful talk by @ChadJonesEcon on automation & econ growth, you'll see 'some' Solow, Romer, Aghion, Howitt, and lot's of 'ideas' there. #econsky👇👇 youtu.be/U-ziizXkuXg?...

State capacity, taxation, public goods, allocation of resources, employment, bandits, states, Brazil, Rio #econsky👇👇 www.linkedin.com/posts/manoel...

A great initiative by the @piie.com on central bank independence to further our understanding on the subject, with great speakers, and a lot knowledge being shared. #econsky 👇👇 youtu.be/WcwEPbsc5ZE

A rainy Sunday evening in Heidelberg. Heading for pizza & wine.👇👇

Halloween in Heidelberg👇👇

In Heidelberg I go to bed with one impression, and I wake up with another..👇👇

A great conference on private & public institutions for good governance, & it's in Rome!! Consider submitting #econsky #Economics #institutions #politicaleconomics #governance 👇 👇 winir.org/winir-2026/

A nice 'sunny' day in Heidelberg, 15 degrees Celsius, perfect for a walk along the Neckar.

Another day, another evening in Heidelberg. My backpack with my laptop in it has been found by Deutsch Bahn and DHL will deliver it to me, soon..🤞🏻 In the meantime, HD at night..

Arrived in Heidelberg this morning, managed to forget my backpack on the ICE, but refreshing the soul now.

What a day it has been so far, and what a great award!

Chatting with @essobecker.bsky.social about religion & growth, Weber, migration & education, education & secularization, & conflict & state formation. #econsky open.substack.com/pub/heteroge...

Cresci com o Analista, com o Ed, e também com a Velhinha.. RIP. placar.com.br/placar/a-pai...

🚨A cool column by @BenitoSalomao on public goods & democratic stability. Link to the article in the comments.👉 #econsky👇

🚨 I wrote an article on economic growth in South Africa. I write about investment & inflation, two of the most popular drivers of growth, at least to those advocating growth policies in SA. I also explain what is that the same commentators get wrong. Link to the article in the comments. 👉 #econsky👇