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Laura Veldkamp

@laura-veldkamp.bsky.social
3.4K followers 238 following 80 posts

Columbia Business School Professor. Works on the data economy, macro and finance. Finally moving my comments to somewhere more civilized.

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Reposted by Laura Veldkamp
Princeton Economics @princetonecon.bsky.social · 15/07/2026
Congratulations to Princeton Associate Professor of Economics Ernest Liu on receiving the 2025 Jensen Prize from the "Journal of Financial Economics" for “Data Sales and Data Dilution,” co-authored with Song Ma and @laura-veldkamp.bsky.social. Read more: bit.ly/4fAsKwe
Ernest Liu award graphic. "Ernest Liu awarded 2025 jensen prize by the journal of financial economics."
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Reposted by Laura Veldkamp
ResearchCal @researchcal.bsky.social · 22/09/2026
2/7 Finance Down Under 2027 in Melbourne Keynote @laura-veldkamp.bsky.social · @unimelb.edu.au Due 25 Sep fbe.unimelb.edu.au/conferences/...
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VoxEU @ CEPR @voxeu.org · 31/08/2026
I Lindenlaub, R Oh, M Alejandra Rodriguez, & @laura-veldkamp.bsky.social use data from Germany to show AI adoption depends on whether AI is worth using relative to human labour. Comparative advantage is a much better predictor of AI adoption than absolute advantage. cepr.org/voxeu/column... #EconSky
Figure: Each circle represents a three-digit KldB occupation and is sized by employment. The labelled categories are Accounting, controlling and auditing (KldB 722) and Teachers in schools of general education (KldB 841), shortened to Accounting and Teaching in the figure. AA is AI exposure (Eloundou et al. 2024), and CA is model-predicted adoption. Dashed lines show employment-weighted mean exposure (vertical) and observed adoption (horizontal); the grey line is the employment-weighted linear fit.

Predictions about the workplace impact of artificial intelligence often begin with what the technology can do captured by occupations’ exposure to AI. Using representative data on German workers, this column shows that adoption also depends on whether AI is worth using relative to human labour. Comparative advantage is a much better predictor of AI adoption than absolute advantage based on exposure alone.
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Laura Veldkamp @laura-veldkamp.bsky.social · 02/09/2026
What predicts who uses AI? Exposure predicts poorly bc it measures absolute advantage. What's missing is comparative advantage: not just what AI is good at, but whether adoption is worth it. cepr.org/voxeu/column.... @yaleeconomics.bsky.social , @chicagobooth.bsky.social , @columbiabiz.bsky.social
cepr.org
Beyond exposure: Predicting AI adoption based on comparative advantage
Predictions about the workplace impact of artificial intelligence often begin with what the technology can do captured by occupations’ exposure to AI. Using representative data on German workers, this...
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Laura Veldkamp @laura-veldkamp.bsky.social · 13/07/2026
Years of revisions later, I’m thrilled that “A Model of the Data Economy” with M. Farboodi is out in ReStud. Data is an asset, a by-product, fuel for AI predictions, and a means of payment. What does that change about macroeconomics? doi.org/10.1093/rest...
doi.org
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Inclusive Productivity Network @prodmon.bsky.social · 12/06/2026
Super interesting! "Data-driven automation" by Maryam Farboodi, Andrew Koh, and Anchi Xia. drive.google.com/file/d/18Fm4...
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Laura Veldkamp @laura-veldkamp.bsky.social · 16/03/2026
Congratulations Helene and thank you to Hyun Song Shin for leading us all through turbulent times.
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Laura Veldkamp @laura-veldkamp.bsky.social · 16/03/2026
Some of Mamdani's estate tax plan makes sense. Moguls "exchange" one building for another and defer the tax. When they die, most deferred tax gets wiped out. This makes up for unpaid tax. If there's a billionaire exodus? To leave, they'd need to sell, rather than exchange, which would incur tax.
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Laura Veldkamp @laura-veldkamp.bsky.social · 16/03/2026
Want to learn how to do research in an exciting, area of economics? Looking for dissertation topics in an area that has many open questions? Registration now open: Data Economy summer school, Aug 10-14, 2026 sites.google.com/view/data-ec... @isaacbaley.bsky.social #econsky #AI
sites.google.com
The Data Economy
The most valuable firms in the world today are valued largely for their data. How can we measure this value, understand its consequences and incorporate it in our economic thinking? Isaac Baley (Pomp...
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Laura Veldkamp @laura-veldkamp.bsky.social · 05/03/2026
NY is proposing to "Impose liability for damages caused by a chatbot impersonating certain licensed professionals." nysenate.gov/legislation/... How does a chatbot trick you into thinking its a doctor? Senators: If you forgot you were conversing with AI, you need a doctor.
nysenate.gov
NY State Senate Bill 2025-S7263
Imposes liability for damages caused by a chatbot impersonating certain licensed professionals.
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Laura Veldkamp @laura-veldkamp.bsky.social · 04/03/2026
Thanks World Economic Forum for publishing my article on unbundling data and goods. It's a market-oriented approach to privacy policy. The goal is not to prevent using data, but to give consumers choices and get us a better deal. #dataprivacy www.weforum.org/stories/2026...
weforum.org
Data is part of the product in every online transaction
Industries have been created around data and it is part of the product in every online transaction. Here's why data should be unbundled from the products we buy.
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Laura Veldkamp @laura-veldkamp.bsky.social · 02/03/2026
New economic research shows how companies accumulate your data—and how that changes what you pay. business.columbia.edu/insights/res... @columbiabusiness.bsky.social
business.columbia.edu
Your Data is the New Capital | Columbia Business School
A new economic model shows how companies accumulate your information the way they once accumulated factories—and how that changes what you pay.
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Laura Veldkamp @laura-veldkamp.bsky.social · 27/02/2026
What unique insights can economists bring to the AI conversation? 🤔 Check out Kevin Bryan’s JEL review of The Data Economy — on why data isn’t just fuel for AI, it's the engine. ➡️ Review: www.aeaweb.org/articles?id=... ➡️ Book: www.amazon.com/Data-Economy... with @isaacbaley.bsky.social
amazon.com
The Data Economy: Tools and Applications
The Data Economy: Tools and Applications: 9780691256726: Economics Books @ Amazon.com
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Laura Veldkamp @laura-veldkamp.bsky.social · 13/02/2026
China now allows firms to recognize data as a balance-sheet asset, and the Financial Times argues the U.S. should follow: www.ft.com/content/897f... Our data-GDP research explores this. Might policy catch up to theory? business.columbia.edu/sites/defaul... #DataEconomy
ft.com
America must follow China in treating data as an asset
US accounting principles fail to recognise its enormous economic value
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Reposted by Laura Veldkamp
Faculti @faculti.bsky.social · 28/01/2026
Are data-subscription platforms a sign of dangerous digital market power—or the very incentive needed to produce better data? @laura-veldkamp.bsky.social @columbiauniversity.bsky.social @columbiabusiness.bsky.social #Finance
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Laura Veldkamp @laura-veldkamp.bsky.social · 12/01/2026
Does AI personalization widen cognitive inequality? Profit-driven content targeting matches complexity to users’ current ability. Boosts high-ability users while depriving others (esp kids) of cognitive challenge. Free access to JME paper until 2/17: authors.elsevier.com/c/1mLxi15DWI... #Econsky #AI
authors.elsevier.com
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Laura Veldkamp @laura-veldkamp.bsky.social · 10/12/2025
Just released: The data literacy academy's best books for data leaders. Thanks for listing The Data Economy at #9! www.dl-academy.com/blog/18-book... press.princeton.edu/books/hardco... @isaacbaley.bsky.social #econsky
dl-academy.com
18 Books for Data Leaders and the Data-Curious
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Laura Veldkamp @laura-veldkamp.bsky.social · 03/12/2025
We often think we’re just paying money for a product or service—but we’re also paying with data. Unbundling the product and data trades could help consumers claim their share of the gains from data and the AI tech that uses it. imf.org/en/publicati... #DataPrivacy @Columbia_Biz
imf.org
The Hidden Price of Data
Revealing data’s true price can turn passive users into active suppliers who demand fair value
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Laura Veldkamp @laura-veldkamp.bsky.social · 03/11/2025
So honored that you chose my book with @isaacbaley.bsky.social book to feature!
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Laura Veldkamp @laura-veldkamp.bsky.social · 26/10/2025
Thanks Drona and the team at the Real Returns podcast for a thoughtful interview about the data economy and data privacy policy. #dataecon #econsky #privacy therealreturnsshow.com/interview-ep...
therealreturnsshow.com
The Real Returns Show
Formerly Drona's Stock Talk
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Reposted by Laura Veldkamp
PBS News @pbsnews.org · 28/08/2025
Federal Reserve Governor Lisa Cook has sued the Trump administration in an effort to overturn the president’s attempt to fire her, launching an unprecedented legal battle that could significantly reshape the Fed’s longstanding political independence. to.pbs.org/4lLn4iL
to.pbs.org
Fed Gov. Lisa Cook sues Trump administration to block her attempted firing
No president has sought to fire a Fed governor in the institution's 112-year history until Trump posted a letter on his Truth Social media platform late Monday saying that Cook was fired. Trump said t...
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Congresswoman Pramila Jayapal @jayapal.house.gov · 28/08/2025
This is a monumental case for American democracy and the health of our country’s economy. The courts must rule in favor of Federal Reserve independence and against Trump’s authoritarian instincts. www.nbcnews.com/business/eco...
nbcnews.com
Fed governor Lisa Cook sues Trump over 'unprecedented and illegal' effort to fire her
Trump has sought to remove her over mortgage fraud allegations that Cook's lawyers call "unsubstantiated."
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Protect Democracy @protectdemocracy.org · 31/08/2025
#CollectiveCourage: Hundreds of economists from across the country have signed an open letter calling on Congress to uphold Federal Reserve independence. If you’re an economist, you can still sign on: docs.google.com/document/d/1oGrUv-_…
docs.google.com
Open letter
Click here to add your signature. An Open Letter from Economists in Support of Governor Lisa Cook and Federal Reserve Independence To the President, Members of Congress, and the American public: We wr...
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Henry Curr @curr.bsky.social · 28/08/2025
I reported this week's Money Talks podcast from the mountain, lake and lodge at Jackson Hole. Featuring Kristin Forbes, @jonsteinsson.bsky.social ‬, Barry Eichengreen and - at 10,000ft - @laura-veldkamp.bsky.social Listen to my Jackson Hole audio diary: www.economist.com/podcasts/202...
economist.com
Gone fishing: our economics editor’s Jackson Hole diary
Our podcast on markets, the economy and business. This week, how Donald Trump’s fight with the Fed escalated in a usually quiet corner of Wyoming
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Laura Veldkamp @laura-veldkamp.bsky.social · 27/08/2025
Teaching grad econ/finance this fall? Looking for rigorous + current material that excites students? The Data Economy: Inspect copy www.ingramacademic.com/978069125672... or buy now www.amazon.com/Data-Economy... Email @isaacbaley.bsky.social (from univ acct + course URL) for slides + answer keys.
amazon.com
The Data Economy: Tools and Applications
The Data Economy: Tools and Applications: 9780691256726: Economics Books @ Amazon.com
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Laura Veldkamp @laura-veldkamp.bsky.social · 23/08/2025
Straub @JacksonHole2025: Looming debt crisis bc fewer workers, more retirees drive debt to 5xGDP. We can cut retirement, hike taxes. But we can also allow legal, young immigrants. The benefits of immigration are typically overlooked, but are worth years of Americans' income. #econsky
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Laura Veldkamp @laura-veldkamp.bsky.social · 23/08/2025
Emi Nakamura at Jackson Hole: Analyzing Taylor rule performance, she emphasizes -- Federal reserve reputation has been a powerful too for keeping inflation in check. "Reputation takes a long time to build up and is quick to destroy." An important warning in modern times. #econtwitter #JacksonHole
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Laura Veldkamp @laura-veldkamp.bsky.social · 22/08/2025
@Jackson Hole, Linda Tesar says: Americans moving from state-to-state is declining. But it's not unwillingness to move. Rather, the mix of jobs across states is becoming more similar. We don't move as much because other places don't have much better or worse labor markets. Homogenization. #Econsky
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Laura Veldkamp @laura-veldkamp.bsky.social · 22/08/2025
From Jackson Hole, Claudia Goldin says to gov't: If you want more American-born kids, then fund child care, don't deport the nannies and most of all, support gender equality. When men share the burdens, women have more babies. #JacksonHole #EconSky
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Laura Veldkamp @laura-veldkamp.bsky.social · 22/08/2025
Historic and well-crafted talk at a critical time in monetary policy history. The feeling in the room reflected the weight of the moment.
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Laura Veldkamp @laura-veldkamp.bsky.social · 22/08/2025
Chair Powell just signaled a willingness to cut rates. Bond markets responding strongly now. His argument is that tariffs represent only a one-time price increase, not a real threat of ongoing inflation. Time will tell. #JacksonHole #EconSky
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Laura Veldkamp @laura-veldkamp.bsky.social · 22/08/2025
Sitting in Jackson Hole this morning, curious about what Powell will say. The tension is palpable. #JacksonHole #EconSky
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Daryl Fairweather ⛅ @fairweatherphd.bsky.social · 10/07/2025
Politics and the Federal Reserve do not mix! It's not just bad for the Fed's reputation, it's also bad for the economy. Investors will be less willing to buy US assets if they can't trust the Federal Reserve to do its job without political interference.
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Nick Miroff @nickmiroff.bsky.social · 10/07/2025
NEW: I spoke to a dozen current and formers about low morale at ICE amid the Trump admin's relentless push for more and more arrests. Officers and agents aren't complaining or looking for sympathy but they're facing public anger & political pressure from above www.theatlantic.com/politics/arc...
theatlantic.com
Trump loves ICE. Its Workforce Has Never Been So Miserable.
A “mission impossible” deportation campaign has left many employees burned out and morally conflicted.
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Laura Veldkamp @laura-veldkamp.bsky.social · 10/07/2025
Please consider supporting an exciting philanthropic venture by my son Paul and a schoolmate Rylan at the Bronx High School of Science that will bring AI education to Africa this summer: aiworldleaders.up.railway.app
aiworldleaders.up.railway.app
Home - AI World Leaders
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Laura Veldkamp @laura-veldkamp.bsky.social · 10/06/2025
The word "fringe" is very unfortunate. This short video clarifies why lives depend on these indirect costs cut from government health grants. zuckermaninstitute.columbia.edu/what-are-ind...
zuckermaninstitute.columbia.edu
What are indirect costs?
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Laura Veldkamp @laura-veldkamp.bsky.social · 04/06/2025
When I feel powerless amidst all the crazy, it's helpful to me to just do something. My something was taking the time to talk to NPR about why we should not cut federal data collection. I realize it won't change many minds. But it was something: www.marketplace.org/episode/2025... #econsky #dataecon
marketplace.org
What if government data becomes untrustworthy?
It won’t be good for businesses that need to predict tomorrow’s economy. Plus, the warehousing sector, hard versus soft data and Utah’s booming culture of entrepreneurship.
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Daniel Zhao @danielzhao.bsky.social · 23/04/2025
Similarly, uncertainty-related terms surged in April as well. Lots of mentions of pulling back on investment plans due to the uncertainty, highlighting the "business planning recession" idea @conorsen.bsky.social coined here: www.nytimes.com/2025/04/20/o...
Beige Book screenshot:
"The outlook was marked by uncertainty, stemming mostly from tariffs, and became slightly more pessimistic. Contacts were concerned that tariffs could blunt construction activity, raise energy costs, and dampen demand for warehouse space, adding that just the uncertainty surrounding tariffs was having a chilling effect on economic activity. One contact noted, however, that the onshoring of manufacturing could yield offsetting benefits."Beige Book screenshot: "Manufacturers widely voiced concern that tariffs were becoming an increasing source of uncertainty, dampening demand, pushing up prices, and delaying and complicating business planning."
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Laura Veldkamp @laura-veldkamp.bsky.social · 23/04/2025
We have a few spots left: If you are interested in learning how to do research on the data economy, check out our online summer course: sites.google.com/view/data-ec... #econsky @isaacbaley.bsky.social #Finance #AI
sites.google.com
The Data Economy
The most valuable firms in the world today are valued largely for their data. How can we measure this value, understand its consequences and incorporate it in our economic thinking? Isaac Baley (Pomp...
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John Burn-Murdoch @jburnmurdoch.ft.com · 22/04/2025
Striking stat from @kellycnbc.bsky.social on this: The rise in treasury yields since Trump’s tariffs were announced leads to an increase in US debt interest payments that is larger than all the DOGE savings.
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Laura Veldkamp @laura-veldkamp.bsky.social · 22/04/2025
Finally some good news! ... Congratulations to Stefanie Stantcheva on the 2025 John Bates Clark award for best economist under 40! I'm humbled to have been part of her selection and inspired by what she has accomplished. #econsky @s-stantcheva.bsky.social www.aeaweb.org/about-aea/ho...
aeaweb.org
Stefanie Stantcheva, Clark Medalist 2025
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Laura Veldkamp @laura-veldkamp.bsky.social · 16/04/2025
Thank you Steve Kerr! A reminder that we can all stand up in our own way to preserve the institutions we treasure.
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Noah Williams @bellmanequation.bsky.social · 16/04/2025
Pat Bajari was one of the most influential economists of the past 30 years, and an amazing person cla.umn.edu/economics/ne...
cla.umn.edu
Remembering Patrick L. Bajari (1969-2025)
Patrick L. Bajari was a pioneer spanning the academic and business worlds.
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Laura Veldkamp @laura-veldkamp.bsky.social · 15/04/2025
How can one person have so much power that their tariff obsession can crash the global economy? How did checks and balances fail so catastrophically?
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Trending Stocks @trending-stocks.bsky.social · 15/04/2025
Tourism tanks, recession risk rises. #econsky
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Trending Finance @trending-finance.bsky.social · 12/04/2025
Market chaos: uncertainty cranked to #econsky
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Ben Casselman @bencasselman.bsky.social · 11/04/2025
The lesson of the "China shock" isn't actually about trade. It's about how hard it is for workers and communities to adapt to rapid economic changes. Now Trump is trying to reshape the global economy overnight, with potentially devastating consequences. #EconSky www.nytimes.com/2025/04/11/b...
nytimes.com
The ‘China Shock’ Offers a Lesson. It Isn’t the One Trump Has Learned. (Gift Article)
Economists say the U.S. manufacturing decline in recent decades was not mainly about free trade, but about the pace of change without time to adjust.
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Sean Brodrick @seanbrodrick.bsky.social · 12/04/2025
Foreigners are afraid to come to America, for fear they’ll be locked up in secret jails. This is going to cripple the U.S. tourism industry #EconSky
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Sean Brodrick @seanbrodrick.bsky.social · 12/04/2025
Pessimistic consumers cut back on spending. #EconSky #Recession
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Laura Veldkamp @laura-veldkamp.bsky.social · 11/04/2025
A thoughtful and inspirational article. A quick read and well worth it.
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