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Finance and Econ From the Web: Night lights measure growth, why are rates so low, are bankers liberals or conservatives….

September 19, 2018 Bilal 0

I thought I’d have a separate “Best Of the Web” devoted to economics and finance. Below I’ve found 30 articles and academic papers on macro and finance. Some are easy reads and others are denser, but I’ve summarised each one. Oh, if you come across anything interesting that I’ve  missed, then flag it to me and I’ll include it in my next list.  Enjoy! North and South Korea at night , 1992 vs 2008

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On Average Establishment Size across Sectors and Countries — by Pedro Bento, Diego Restuccia

September 4, 2018 Bilal 0

On Average Establishment Size across Sectors and Countries — by Pedro Bento, Diego Restuccia https://ift.tt/2NacUfp On Average Establishment Size across Sectors and Countries NBER Working Paper No. 24968 Issued in August 2018 NBER Program(s):Development Economics, Economic Fluctuations and Growth, Productivity, Innovation, and Entrepreneurship We construct a new dataset for the average employment size of establishments across sectors and countries from hundreds of sources. Establishments are larger in manufacturing than in services, and in each sector they are larger in richer countries. The cross-country income elasticity of establishment size is remarkably similar across sectors, about 0.3. We discuss these facts in […]

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Why We Should Worry About Monopsony

September 4, 2018 Bilal 0

Why We Should Worry About Monopsony https://ift.tt/2NLua7S By David Weil, Dean and Professor, Heller School of Social Policy and Management at Brandeis University. Originally published at the Institute for New Economic Thinking website When a small group of companies can dominate a labor market, wages – and workers – suffer Center stage in the meeting of the Federal Research Bank of Kansas City’s annual symposium in Jackson, Wyoming this August was a discussion of the repercussions of having a small number of companies dominating the labor markets where they hire workers–what economists call “monopsony.” That agenda item on an annual meeting that […]

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Bad Mobs of Good People: The Paradox of Viral Outrage

September 3, 2018 Bilal 0

Bad Mobs of Good People: The Paradox of Viral Outrage https://ift.tt/2LPP83O People become less approving of social media outrage the more people join in with it. One person rebuking another is fine, but ten people doing it looks like a mob. This is the key finding of an interesting new paper called The Paradox of Viral Outrage, from Takuya Sawaoka and Benoît Monin of Stanford. According to the authors, the titular ‘paradox’ is that "individual outrage that would be praised in isolation is more likely to be viewed as bullying when echoed online by a multitude of si Publish Science […]

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Folk-economic beliefs: An evolutionary cognitive model | Behavioral and Brain Sciences | Cambridge Core

September 3, 2018 Bilal 0

Folk-economic beliefs: An evolutionary cognitive model | Behavioral and Brain Sciences | Cambridge Core https://ift.tt/2wJoKUD Aarøe, L. & Petersen, M. B. (2014) Crowding out culture: Scandinavians and Americans agree on social welfare in the face of deservingness cues. The Journal of Politics 76(3):684–97. Ainslie, G. & Monterosso, J. (2004) A marketplace in the brain? Science 306(5695):421–23. Alesina, A. & Glaeser, E. L. (2004) Fighting poverty in the US and Europe: A world of difference. Oxford University Press. Anderson, B. R. (1983) Imagined communities: Reflections on the origin and spread of nationalism. Verso. (Original edition). André, J.-B. (2010) The evolution of […]

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Enterprise Without Entities

September 2, 2018 Bilal 0

Enterprise Without Entities https://ift.tt/2oxS4sF Publish via University of Michigan Law School Scholarship Repository August 26, 2018 at 02:15PM https://ift.tt/2oxS4sF

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Econographics — by Jonathan Chapman, Mark Dean, Pietro Ortoleva, Erik Snowberg, Colin Camerer

September 2, 2018 Bilal 0

Econographics — by Jonathan Chapman, Mark Dean, Pietro Ortoleva, Erik Snowberg, Colin Camerer https://ift.tt/2wgR7t1 Econographics NBER Working Paper No. 24931 Issued in August 2018 NBER Program(s):Development Economics, Law and Economics, Public Economics, Political Economy We study the pattern of correlations across a large number of behavioral regularities, with the goal of creating an empirical basis for more comprehensive theories of decision-making. We elicit 21 behaviors using an incentivized survey on a representative sample (n=1,000) of the U.S. population. Our data show a clear and relatively simple structure underlying the correlations between these measures. Using principal components analysis, we reduce the […]

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The most popular personality test in the world is a joke

September 2, 2018 Bilal 0

The most popular personality test in the world is a joke https://ift.tt/2N2DA1O The Myers-Briggs Type Indicator (MBTI) is the most popular personality assessment in the world. You probably know how it works, or have at least seen people talking about it. There are 16 total personality types a taker can get, based on which side of four categories they fall. People are introverted (I) or extroverted (E), intuitive (N) or sensing (S), thinking (T) or feeling (F), and perceiving (P) or judging (J). Results are expressed in a simply four-letter code, like ENFP or ISTJ, and serve as a shorthand […]

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Are weaker property rights behind the fall of the RAND?

August 31, 2018 Bilal 0

In the chart to the right, denoting prices over the past six years, we see a big increase in price of Pounds measured in RAND, indicating an increase in the demand for Pounds (people who want to sell RAND and buy Pounds). It fell, but it is going up again. Source: Are weaker property rights behind the fall of the RAND?