Fascinating paper just out in @jlaborecon.bsky.social by Ben Ost, Weixiang Pan, and @dougwebberecon.bsky.social. Part of the economic value of college comes not from human capital or signaling but from a third thing: professional networks. www.journals.uchicago.edu/doi/full/10....

"there is no evidence of a reduction in job postings for industries or firms which have higher levels of AI adoption. The overall slowdown in national job postings...does not appear to be driven (even modestly) by AI." AI Adoption & Firms' Job-Posting Behavior by Liu and @dougwebberecon.bsky.social

New #FEDSNote: AI adoption, whether at the firm or industry level, has had no discernable negative impact on job posting behavior: www.federalreserve.gov/econres/note... #EconSky

Up a little early wrapping homemade apple cider caramels to bring into my office. Clearly I love the people I work with!

Total banger, highly recommend. youtu.be/yZaXnlp0bxU?...

I was listening to this part of the podcast on a crowded train this morning, and I couldn't hold it together. Openly laughing and probably looking like a crazy person.

@dubravkaritter.bsky.social, @dougwebberecon.bsky.social, and I have a new Education Next article out that offers a less technical look at our research on predicting college closures using machine learning techniques.

If anybody is interested in a good cry xkcd.com/3172/

I truly enjoy a mischevious dog who likes to cause minor trouble.

"The combination of luck, the courage to make mistakes, and a little initiative can lead to much success. But know this: the world needs more from you than personal achievements and individual success. I strongly urge you to find time in your careers for public service." -Chair Powell

New study: The relative wage premium for going to college has halved for low-income Americans since 1960. What is to blame? Rising selectivity? Tuition hikes? State disinvestment? We decompose changes in the premium since 1900 to find out. 🧵#EconTwitter nber.org/papers/w33797

Actual conversation: Catherine: "Doug!" Me: "Yes? C: "Do you want to see something really cool!?" Me: "Is it another STATA graph?" C: "Yes!"

I am constantly amazed at what assistive technology can do compared to when I was a kid.

Molly says "Go Birds!"

My view from the kitchen while I am cooking dinner.

As I am now handling papers at AEJ:Policy again, I want to encourage authors of papers that identify partial equilibrium effects to consider (in a rigorous manner) how they relate to policy effects or general equilibrium effects.

Using new IPEDS finance data, I took a look at the public and private colleges that consistently lose money. Forty-nine of the nearly 1,500 four-year institutions with available data lost money in eight or more of the last ten years--not a good sign. robertkelchen.com/2025/01/07/w...

I really wish Apple would pivot this toward the low-vision community. With some costless changes (granting developer access to the cameras/allow zoom) it would instantly be the best high-tech assistive device on the market.

Here is the reading list that I will be using when I get to teach a PhD class in higher education finance this spring. Happy reading! robertkelchen.com/2025/01/02/m...

I'll leave it to others to review Jimmy Carter's political legacy - but I'm going to reshare this extraordinary story of how - as young Navy engineer - he had himself lowered into a nuclear reactor undergoing meltdown to fix the jammed control rods.🧪 www.physicsresourcebank.com/post/jimmy-c...

People sometimes make fun of science that sounds stupid and random. Meanwhile, a study of lizard saliva turned into a peptide medication, which was turned into a diabetes medication, which was turned into a GLP1 weight loss drug, that just became the first therapy every approved for … sleep apnea

(From Fed Board post on X. Great opportunity for PhD students doing macro! #econsky) The Federal Reserve Board is hiring Ph.D. Dissertation Fellows for summer 2025. Applications will be accepted through February 1, 2025. To learn more and apply, visit: frbog.taleo.net/careersectio...

Just in time before the holidays! New FEDS Notes with my coauthor Anna Tranfaglia on gender differences in credit card limit *changes*. www.federalreserve.gov/econres/note...

Operating costs for higher education rose by an estimated 3.4% in Fiscal Year 2024. For most colleges, revenue did not increase to match, requiring pulling from reserves or making cuts.

As of 2024-12-01, the # of total jobs listed on JOE is down 4.9% from this point last year, down 25.1% from 2022, and down 15.7% from 2021. 2/8

From our AEA cttee on the job market, here's the December update on the status of the job mkt for PhD economists of the 2024-25 cycle. A thread with graphs follows... #EconJobMarket #EconSky @aeainformation.bsky.social @aeacswep.bsky.social @joelistings.bsky.social 1/9

College closures have been in the news lately, and especially in the greater Philly area. @dougwebberecon.bsky.social and @robertkelchen.com and I have been working on improving on existing methods for predicting closures — and financial distress more generally — in higher ed. Check out the paper!

Economists on Thanksgiving (and every day tbh): "I am thankful for FRED"

I was woken up this morning by a kissing-attack and this view

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

We're hiring at @gsueconomics.bsky.social ! Come join our econ dept at Georgia State University! ATL is amazing! We are hiring for two tenured chair positions The first position is active on JOE and is open field; the second position will be posted soon. www.aeaweb.org/joe/listing.... #EconSky

If you or someone you know might be interested in pursuing a PhD in Education Policy with our group at BU Wheelock, join us for a Zoom info session on October 17. I'll be there, with some of our current doctoral students, to answer any questions you might have. mywheelock.bu.edu/phdedstudies...