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Farzad Saidi

@farzado.bsky.social
246 followers 230 following 49 posts

Full-time economist & full-time dad // Professor @ University of Bonn.

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Reposted by Farzad Saidi
Jake Grumbach @jakemgrumbach.bsky.social · 09/10/2026
New working paper: the Norwegian wealth tax was a huge success. The "exodus" of wealthy people never happened (less than 100 individuals left). Tax revenue increased by 71.5%. No changes in business activity or investment. www.nber.org/papers/w35854
Taxing Entrepreneurial Wealth: Evidence from
Norway, 2021-2025
Marius A. K. Ring
WORKING PAPER 35854|
DOl 10.3386/w35854
ISSUE DATE October 2026
Whether imposing higher taxes on business owners adversely affects business activity by constraining investment and inducing capitalist flight is a central question in the ongoing debate on how to tax the ultra wealthy. To shed new light, I exploit a series of related Norwegian reforms during 2021-2024 that increased dividend tax rates, removed migration-related capital gains tax loopholes, and nearly doubled the effective marginal tax rate on business wealth. These reforms spurred international debate and, allegedly, an "exodus" of Norwegian billionaires (Financial Times,
2023). While I document clear effects on migration, these responses are concentrated among the top 0.1% of the wealth distribution and mostly confined to 2022 and 2023. My results indicate that at most 100 individuals left due to the reforms. I find no evidence of significant outmigration or reduced inflows of startup founders or inventors. I estimate that absent any outmigration, wealth tax revenues would have increased by 75% from 2021 to 2024. Reform-driven outmigration lowers the revenue gain to 71.5%. My findings further show that outmigrating owners' firms remain economically active and do not reduce investment. In a broader set of analyses, I examine whether business outcomes are affected, regardless of whether owners outmigrate, since firms may reduce investment both due to liquidity constraints or distortions to owners' savings decisions. I compare firms owned by Norwegian individuals subject to the wealth tax with firms owned by foreigners and other tax-exempt entities. By merging historical ownership data from Orbis with the Norwegian shareholder register, I perform these analyses on both Norwegian and foreign-domiciled firms.
Across settings, I find no evidence that Norwegian-owned firms pay out more dividends or invest less after the reforms,…
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Stefan Eich @stefeich.bsky.social · 30/09/2026
New article just dropped in APSR! Leah Downey and yours truly on why people should stop using “democratize” when all they really mean is increasing market access. (Looking at you, economists! 👀) And, more positively, what a better vision of “democratization” looks like when applied to finance.
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Farzad Saidi @farzado.bsky.social · 05/09/2026
Richtig, und spiegelt lediglich Frust über die Bildungsverlierer wider. „Ronny“ war egal, solange er nicht den Weg an die Wahlurne findet. Du hast aber völlig recht, dass man mit dieser Rhetorik niemanden zurückgewinnt.
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Farzad Saidi @farzado.bsky.social · 05/09/2026
Grundsätzlich hast Du recht, aber es ist die inhärente Logik der extremen Polarisierung. Unsereins ist extrem verbittert darüber, dass „die“ uns das Leben zur Hölle machen und wir uns bald überlegen dürfen, wo wir vier Jahre lang ausharren wollen.
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Ilko-Sascha Kowalczuk @ilkokowalczuk.bsky.social · 28/08/2026
Die FAZ druckt heute ein interessantes Interview mit dem engagierten Soziologen Matthias Quent @mquent.de aus Jena ab. Die letzte Antwort ist ein treffender Hinweis, was viele nicht wahrhaben wollen.
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Farzad Saidi @farzado.bsky.social · 26/08/2026
Join us as assistant professor in finance @unibonn.bsky.social‘s Department of Economics. Looking for research-active folks fresh out of their PhD programs and more seasoned candidates alike: econjobmarket.org/positions/12...
econjobmarket.org
EJM - Econ Job Market
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WebDesignMuseum @webdesignmuseum.org · 05/08/2026
Who else could watch this for hours? Defragmenting Drive C in Windows 95
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Opportunity & Inclusive Growth Institute @oiginstitute.bsky.social · 03/08/2026
New Institute working paper looks at the chain from credit to firms to workers. From @economoser.bsky.social, @farzado.bsky.social, Benjamin Wirth, and Stefanie Wolter: bit.ly/4u2yCT0
The image shows a working paper cover from the Opportunity & Inclusive Growth Institute, Federal Reserve Bank of Minneapolis. The paper is titled "Credit Supply, Firms, and Earnings Inequality" by Christian Moser, Farzad Saidi, Benjamin Wirth, and Stefanie Wolter. The design includes a split background with white and dark blue sections, and a gold accent.
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WebDesignMuseum @webdesignmuseum.org · 29/07/2026
Sound Recorder for Windows 98 SE
Sound Recorder for Windows 98 SE
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Opportunity & Inclusive Growth Institute @oiginstitute.bsky.social · 28/07/2026
To operate, firms often rely on external financing, so firms’ access to credit may affect workers’ wages + employment. In new paper, @economoser.bsky.social, @farzado.bsky.social, Wirth, & Wolter examine heterogeneous effects of credit supply on workers w/ in & between firms bit.ly/4u2yCT0
The image is a split design with a white and blue background. On the left side, text reads: "Credit Supply, Firms, and Earnings Inequality" followed by the names "Christian Moser, Farzad Saidi, Benjamin Wirth, and Stefanie Wolter." The right side displays the text "Opportunity & Inclusive Growth Institute" and "Federal Reserve Bank of Minneapolis," with "Working Paper" at the bottom.
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Andreas Püttmann @puettmann.bsky.social · 27/07/2026
Hoffentlich ist das Desaster, das die CDU mit ihrem "starken Mann" und "einem aus der Wirtschaft" erlebt, ihr ein für allemal eine Lehre, sich nicht nochmal übermäßig von schneidigen, anklagenden Reden beeindrucken zu lassen. Opposition können viele, Regieren sehr wenige. #Merz
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SnoopDE @snoopde.eurosky.social · 27/07/2026
Turbo Pascal
Turbo Pascal Bildschirm MSDos
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Chiquitaflanke @schaltjahr.bsky.social · 27/07/2026
Merz' Befreiungsschlag.
static.klipy.com
Haitian Goalkeeper's Own Goal in World Cup Qualifier
ALT: Haitian Goalkeeper's Own Goal in World Cup Qualifier
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Farzad Saidi @farzado.bsky.social · 26/07/2026
Good times. No Claude, no social media — just the anxiety over an unstable modem connection, Notepad, and eventually the revelation of WYSIWYG in the form of Microsoft FrontPage.
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Gernot Wagner @gwagner.com · 19/07/2026
Notice the difference?
MetLifeBernabéuCamp Nou
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Sabine Döring @sabinedoering.bsky.social · 18/07/2026
www.zeit.de/politik/deut...
zeit.de
Klaus Ferdinand Gärditz: »Ich halte ein Teilverbot der AfD für möglich«
Das Bundesverfassungsgericht könnte AfD-Landesverbände verbieten, sagt der Jurist Klaus Ferdinand Gärditz. Beantragen müssten das Regierung, Bundestag oder Bundesrat.
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Farzad Saidi @farzado.bsky.social · 17/07/2026
Essential.
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Ben Allen @evodynamics.bsky.social · 17/07/2026
Congrats we just made it impossible to come here for a PhD www.bostonglobe.com/2026/07/16/m...
bostonglobe.com
Trump administration limits student visas to four years, changing longstanding policy - The Boston Globe
The new rule, which also restricts the international students’ ability to transfer schools or change majors without approval in their first year, will go into effect in mid-September.
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Christian Odendahl @codendahl.bsky.social · 06/07/2026
All as expected. #Fifa www.rbfa.be/en/news/upda...
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Sabine Döring @sabinedoering.bsky.social · 02/07/2026
„Das AfD-Regierungsprogramm für Sachsen-Anhalt lasse „ein Wissenschaftsverständnis erkennen, das mit den Grundprinzipien unserer Verfassung unvereinbar ist“, erklärte die DFG-Präsidentin“. „In Kürze“ sollen „Handlungsoptionen für Akteure“ folgen.
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David McKenzie @dmckenzie.bsky.social · 30/06/2026
In today's blog, @brucewydick.bsky.social discusses what factors you should consider when aggregating variables into an index - and how to use indices to measure abstract concepts like aspirations, empowerment, and social cohesion blogs.worldbank.org/en/impacteva...
blogs.worldbank.org
Measuring What Matters: Some Guidelines for Index Creation - Guest Post by Bruce Wydick
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Farzad Saidi @farzado.bsky.social · 18/06/2026
We are pointing out under what circumstances that might actually happen, and how.
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Farzad Saidi @farzado.bsky.social · 18/06/2026
@helene-rey.bsky.social
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Farzad Saidi @farzado.bsky.social · 18/06/2026
@filpet4.bsky.social
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Farzad Saidi @farzado.bsky.social · 18/06/2026
@sandertordoir.bsky.social @schularick.bsky.social @pberenberg.bsky.social @tl-beck.bsky.social @bachmannrudi.bsky.social @stefeich.bsky.social @benbraun.eurosky.social
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Farzad Saidi @farzado.bsky.social · 18/06/2026
Looking forward to what is intended as a starting point for embracing European financial leverage and resilience of its financial architecture.
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Tarik Abou-Chadi @tabouchadi.bsky.social · 02/06/2026
Wir sollten wirklich anfangen den Begriff "Brandmauer" zu vermeiden. Er hat in der Brandmauer-Diskussion ein diffuses Eigenleben angenommen als unklare Chiffre. Es lässt sich so leicht gegen die Brandmauer argumentieren, weil man nicht sagen muss was man aktiv will: Zusammenarbeit mit Rechtsextremen
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Farzad Saidi @farzado.bsky.social · 31/05/2026
Wer?
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Opportunity & Inclusive Growth Institute @oiginstitute.bsky.social · 26/05/2026
New Institute working paper looks at the chain from credit to firms to workers. From Christian Moser (@economoser.bsky.social), Farzad Saidi (@farzado.bsky.social), Benjamin Wirth, and Stefanie Wolter: bit.ly/4u2yCT0
This image shows a cover page for a working paper by the Opportunity & Inclusive Growth Institute of the Federal Reserve Bank of Minneapolis. The paper is titled "Credit Supply, Firms, and Earnings Inequality," authored by Christian Moser, Farzad Saidi, Benjamin Wirth, and Stefanie Wolter. The page features blue, white, and yellow colors.
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Sander Tordoir @sandertordoir.bsky.social · 20/05/2026
Germany is the epicentre of the China Shock 2.0 reverberating in global markets In a new joint paper, CFR's Brad Setser and I show the shock is a key driver of Germany’s economic malaise. And it's accelerating Berlin needs to stop admiring the problem, and join efforts to fight back 1/many
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Jean Pisani-Ferry @pisaniferry.bsky.social · 15/05/2026
"We have reached a point where the decisions Europe must take can no longer be contained within the institutional framework we have inherited." In the speech he gave on the occasion of receiving the Charlemagne prize, Mario #Draghi endorses variable geometry. geopolitique.eu/en/2026/05/1...
geopolitique.eu
Mario Draghi: Europe Can Again Turn Crisis Into Union - Groupe d'études géopolitiques
I will not pretend that what lies ahead for Europe is easy. The strain upon our continent is profound and growing heavier by the month. But this is not only a moment of danger. It is also a moment of ...
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Financial Times @financialtimes.com · 13/05/2026
The rise of the American corporate gerontocracy ft.trib.al/dgGKnqr
ft.trib.al
The rise of the American corporate gerontocracy
No country for young CEOs
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VoxEU @ CEPR @voxeu.org · 06/05/2026
Average CEO age at appointment has risen sharply over recent decades. Rising uncertainty & economic complexity increase demand for generalist human capital, prompting firms to prioritise accumulated experience. @vkecht.bsky.social, A Lizzeri, @farzado.bsky.social cepr.org/voxeu/column... #EconSky
The plot shows the average age of CEOs over time, separately for sitting CEOs and CEOs at appointment. The sample includes 50,510 CEOs in the United States.

The composition of Western workforces has shifted toward older workers, and this trend is particularly strong at the very top of business organisations. This column uses newly assembled data spanning a wide range of firms to document that average CEO age at appointment has risen sharply over recent decades. This increase is concentrated outside of large, listed firms and driven by longer, more diverse career paths prior to appointment. Demographics, schooling, and tenure cannot explain these patterns. Instead, rising uncertainty and economic complexity have increased demand for generalist human capital, prompting firms to prioritise accumulated experience over innate ability and incentivising prospective CEOs to broaden their skill portfolios in response.
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The Review of Economic Studies (REStud) @reveconstudies.bsky.social · 24/04/2026
Monopsony power makes productive firms decide to stay small, hurting aggregate productivity. More strongly size-dependent wages in East Germany explain a third of the difference to the West. New paper by Bachmann, Bayer, Stüber, and Wellschmied www.restud.com/monopsony-ma...
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Farzad Saidi @farzado.bsky.social · 23/04/2026
Why has CEO age increased so much? Thank you also to Bloomberg for covering our paper: www.bloomberg.com/news/article...
bloomberg.com
CEOs in Their 60s Are New Norm With Companies Picking Older Bosses
Apple Inc.’s new chief executive officer joined the iPhone maker 25 years ago and was tapped for the top job at age 50. While that would have been a common trajectory for CEOs a generation ago, the ty...
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Farzad Saidi @farzado.bsky.social · 19/04/2026
Given the obvious returns, one would think that the German government is passionately discussing investments in childcare and early education. The bitter reality is that they don’t, even in the face of stagnation.
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Farzad Saidi @farzado.bsky.social · 10/04/2026
Warum ändert selbst gutgemeinte Politik so wenig an der Arbeitsteilung? @manongarcia.bsky.social liefert die Antwort: Soziale Normen machen Unterwerfung zur rationalen Entscheidung -- und sie beugen sich keinem politischen Instrumentarium. www.zeit.de/familie/2026...
zeit.de
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Antoine Vernet @antoinevernet.com · 05/04/2026
I use em-dashes and Oxford commas. And I will continue to do so long after LLMs have stopped because vendors trained them away from these constructions so they sound less like AI
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WebDesignMuseum @webdesignmuseum.org · 03/04/2026
In April 1991, Gopher system was created at the University of Minnesota as a text-based system that used the hierarchical menu structure for navigation. #InternetHistory
In April 1991, Gopher system was created at the University of Minnesota as a text-based system that used the hierarchical menu structure for navigation.
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Farzad Saidi @farzado.bsky.social · 03/04/2026
That might have been a valid running hypothesis before incel TikTokers became the delegated asset managers of the the manosphere’s bitcoin portfolio…
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Michael Clemens @mclem.org · 25/03/2026
The best and brightest young people from around the world are getting the message: Reconsider investing your talents in the United States. Cumulative issuance of F-1 student visas by calendar month, down circa 32% as of September (latest available) Source: travel.state.gov/content/trav...
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Christian Odendahl @codendahl.bsky.social · 23/03/2026
The fiscal constraints are forcing Germany to confront its 20th century tax and social insurance system for married couples. First to be phased out: the free health and care insurance for the non-working spouse. Looooong overdue. www.capital.de/wirtschaft-p...
capital.de
Ehepartner mitversichern? Diesen Luxus können wir uns nicht leisten
Die Bundesregierung überlegt, die kostenlose Mitversicherung für Ehepartner in der Kranken- und Pflegeversicherung abzuschaffen. Das ist überfällig
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Farzad Saidi @farzado.bsky.social · 22/03/2026
Da gehe ich mit. Und wir sehen bei den Demokraten, wohin das führen kann. Die SPD ist vor einem Jahrzehnt völlig unnötig in einen noch viel unnötigeren Kulturkampf aktionistisch eingestiegen.
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Farzad Saidi @farzado.bsky.social · 22/03/2026
Die SPD hat ihre Kernklientel lange vor der Dringlichkeitswahrnehmung einer wirtschaftlichen Transformation verloren.
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Farzad Saidi @farzado.bsky.social · 22/03/2026
Aber wie?
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Farzad Saidi @farzado.bsky.social · 22/03/2026
SPD aber leider Gottes auch.
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Jacob Edenhofer @jacobedenhofer.bsky.social · 21/03/2026
paulgp.substack.com/p/research-i...
paulgp.substack.com
Research in the Time of AI
This post is a copy of a post on my blog here: paulgp.com/2026/03/16/research-in-time-of-ai.html
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Farzad Saidi @farzado.bsky.social · 17/02/2026
No more excuses. Even if the returns are still unevenly distributed, AI tools let you be both: a present parent and a highly productive professional living up to your work ethic, at least if your job typically involves staring at a screen. #AI #Productivity #WorkLifeBalance #Parenting #FutureOfWork
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NBER @nber.org · 31/01/2026
Plagiarism detection on 500k publicized Chinese dissertations uncovers widespread hidden misconduct that predicts adverse political selection and poorer civil service performance, from Zhuang Liu, Wenwei Peng, and Shaoda Wang www.nber.org/papers/w34747
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