I knew Daria. Students like her are the reason I came back to Ukraine, the reason I am building a university. She embodied the Ukraine I imagine — because Ukraine is its people. People like Daria. 1/

Next was a great talk by @fmontag.bsky.social on the effects of M&A and foreign competition on jobs in the US appliance industry at @nber.org www.youtube.com/live/fg08B7_... (5/7)

Trump just announced new 50% tariffs on household appliances like dishwashers, washing machines, refrigerators. Hope no one out there was in the middle of a remodel, or had a stove recently conk out www.reuters.com/world/us/hom...

Oh Jesus, they're looking to kill a bunch of census data collection. Talk about penny-wise pound-foolish behavior that's going to make it harder to actually understand America and do basic policymaking/ research work. They're setting the seed corn on fire for fun.

Why the social care visa had to go. TLDR; in long-run it’s an expensive and ineffective way to hire care workers. blogs.lse.ac.uk/politicsandp...

"We ask that we not be considered, explicitely or by implication, as members of the 'Chicago School' of economics. Indeed, economics at Chicago has included many things quite different from the particular views now associated with the 'Chicago School'" Arrow, Klein, Koopmans and Simon to NYT, 1982

Recently accepted to #REStud, ``Colluding against Environmental Regulation," from Alé-Chilet, Chen, @jingli-econ.bsky.social and Reynaert: www.restud.com/colluding-ag... #EconSky #REStud #pollution #regulation #collusion

Congratulations to Stefanie Stantcheva (@s-stantcheva.bsky.social) of @harvard.edu, winner of the 2025 John Bates Clark Medal! #econsky www.aeaweb.org/about-aea/ho...

Congratulations to Frank Verboven (@frankverboven.bsky.social) for being appointed as AER coeditor, handling papers in empirical IO and related fields. His term starts on July 1. I’m delighted to have him on our team. @aeajournals.bsky.social #EconSky

Giulia Brancaccio and I are looking for a pre-doc to work with us on topics related to Industrial Organization and Trade @nyu.edu Ideally for two years starting in September apply.interfolio.com/165860 #EconSky #EconRA

A fun thing is that labor productivity is higher in 6 digit NAICS industries where you find "bullshit jobs" (e.g. in Professional, Scientific, and Technical Services) than in manufacturing

I was thinking about this Joe and Tracy anecdote from the supply chain crisis on gummy bears. Things are probably going to get really weird in a few weeks in unexpected ways:

This is driving me crazy too. Not long ago 10% universal tariffs were considered the worst-case scenario, something even Trump wasn’t crazy enough to impose. Now have those PLUS 125% tariffs on China. Together, these raise raise inflation by about as much as original “Liberation Day” tariffs did!

Trump hasn't "paused tariffs": in addition to the insane rate on Chinese imports, we have a 10% tariff on everything. www.nbcnews.com/business/mar...

New post on the (possible) future of American higher education open.substack.com/pub/rajivset...

Why China has escalation dominance in this trade war. US gets vital goods from China that cannot be replaced anytime soon. Reducing such dependence may be reason for action, but fighting the current trade war before doing so is a recipe for disaster. by @adamposen.bsky.social

Regarding trade -- our research shows that only 25% of Americans *disagree with the idea that international trade is zero-sum* — that if one country gains, another must lose. Most people either believe it is zero-sum or aren’t sure. socialeconomicslab.org/research/wor...

Awkward. www.economist.com/europe/2025/...

It's easy to say "well then just stop cheap imports." But I don't think Americans are returning back to those prices. In early 1960s, US households spent 12% of their income on apparel (or $4,157 in today's dollars). In 2016, it was 4% (or $1,803). And that's with larger wardrobes!

I’m losing my mind here. USTR made a list of “Unfair trade practices” they’re retaliating against, complaint number 5 is that the EU cares too much about stopping illegal deforestation, complaint number 7 is that the South Americans are doing too much illegal deforestation

Come join me in Zurich! We’re hiring a Professor of Health Economics (deadline April 30). DM me if you have any questions about our department, ETH 🏫, or Switzerland🇨🇭 ethz.ch/en/the-eth-z...

Quarterly Journal of Economics, 1930 @qjeharvard.bsky.social www.jstor.org/stable/1882526

Meanwhile, back in Metropolis... Trump administration invokes Rapid Response Mechanism (RRM) of USMCA for first time. US is worried about denial of worker rights - freedom of association / collective bargaining - in a Mexican auto parts plant. Source: ustr.gov/about/policy...

BREAKING: Senators Chuck Grassley (R) and Maria Cantwell (D) introduce legislation to require all new tariffs to receive Congressional approval.

Stellantis laying off 900 US workers at its US auto plants, thanks to tariffs www.reuters.com/business/aut...

USTR: "The elasticity of import prices with respect to tariffs, φ, is 0.25. The recent experience with U.S. tariffs on China has demonstrated that tariff passthrough to retail prices was low (Cavallo et al, 2021)." Cavallo et al: φ is 0.945. www.aeaweb.org/articles?id=...

So are we gonna get import subsidies for services?

That’s always been my opinion on the tariffs, and why I didn’t necessarily think they would tank the economy as some predicted. That said, the scale and monumental idiocy of what was announced yesterday was on a different level...

Analyzing theoretical formula used to determine tariffs… What’s wrong with it? Used in isolation on a single small trading partner the formula makes some sense. But if applied widely to many non trivial ones it does not. ustr.gov/issue-areas/...

"We calibrated these parameters to match with real data."

Nobel Prizes by country and year. The dominance of Germany is striking every time. Before 1933, that is. And the utter dominance of America (and the UK) after 1945.

Can Europe benefit from a science exodus from America? It's complicated. My latest for @economist.com. www.economist.com/europe/2025/...

Like with the US Steel/Nippon Steel acquisition, a decision justified through national security but no actual explanation of the security angle. Something, something „jobs“ or „supply chains“ seems to be enough these days.

25 per cent tariff on "all cars not made in the US". This includes Canada and Mexico? wtf

Time to first decisions at The Economic Journal academic.oup.com/ej?login=true. Thanks to all the hard work and efforts of the referees, AEs and other editors. Please submit your excellent papers and expect an efficient and thoughtful response.

China reportedly considering including services in a multibillion-dollar subsidy program to stimulate consumption as the world’s second-largest economy struggles to boost chronically weak domestic demand. by Joseph Leahy & Cheng Leng

US: We're going to bomb the Houthis and bill you for it. Europe: Seriously it's fine, we can send ships round the Cape, unlikely you'll clear them out for good anyway, don't bother on our account. US: Great, we'll send you the bill. Europe:

Europe is about to commit its greatest strategic mistake. on.ft.com/4bVGZZ9

🆕 JOB AD! 🆕 TARIFFS are here. More are coming. Do you love working with DATA and making CHARTS? Do you want to use ECONOMICS in real time? @piie.com is hiring a Research Analyst for International Trade. Come and work for/with me. APPLY today 👉 www.linkedin.com/jobs/view/41...

Tariffs are a double-whammy squeeze on farmers . . . their costs (equipment, fertilizer) go up and they are the first target of foreign retaliation . . . www.wsj.com/opinion/trum...

Tariff take job. www.startribune.com/iron-range-l...

🧵Love ‘em or hate ‘em, New York City’s tolls on cars and trucks driving in Manhattan are easing traffic congestion and reducing car pollution, according to new research by SIEPR’s @shoshievass.bsky.social and co-authors. (1/3)

If econ memes had a Nobel Prize, @khoavuumn.bsky.social would have won it by popular acclaim. He's beloved in our community of online economists for his kindness and wit. Definite follow.

The @nytimes.com just discovered parallel computing.

PRICE PASS THROUGH DISRUPTION? Chinese government agencies, including MOFCOM, summon Walmart after US retailer urged Chinese suppliers to offset Trump's tariffs with price cuts, according to Beijing's state media. by Cissy Zhou and Stella Yifan Xie asia.nikkei.com/Economy/Trad...

🚨New data alert! A beta version of the Global Tariff Database is now available! 🔗https://feodorateti.github.io 🔎If you're looking for cross-country data on bilateral tariffs, this might help you.

With 300 mL of coffee, you don’t need randomization.