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EOC

@orcma.bsky.social
170 followers 437 following 1.1K posts

Underground economist. Legalize it!* *trade, immigration, dense mixed use walkable neighborhoods

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EOC @orcma.bsky.social · 02/10/2026
Outside options matter!
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Scott Lincicome @scottlincicome.bsky.social · 29/09/2026
New @nberpubs: "Importers, Market Power and Optimal Tariffs" www.nber.org/papers/w3582... "the optimal tariff is negative and decreases with country size." 😯
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Patrick Chovanec @prchovanec.bsky.social · 29/09/2026
🤔
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EOC @orcma.bsky.social · 28/09/2026
Will never be a fan of using equity values to try to estimate economic fundamentals like this, but implied productivity gains seems especially sus.
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EOC @orcma.bsky.social · 26/09/2026
Throuple representation on bake off, finally
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EOC @orcma.bsky.social · 26/09/2026
Sometimes, I would like my bill to get more complex
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Bill McBride @calculatedrisk.bsky.social · 16/09/2026
All current policy is bad for housing ...
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Aaron Sojourner @aaronsojourner.org · 17/08/2026
Monopsony Makes It Big by an all-star roster: @sydneecaldwell.bsky.social @arindube.bsky.social & Suresh Naidu #EconSky www.nber.org/papers/w3560...
Monopsony Makes it Big
Sydnee Caldwell, Arindrajit Dube & Suresh Naidu
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Working Paper 35608
DOI 10.3386/w35608
Issue Date August 2026
The literature on imperfect competition in labor markets has expanded rapidly in recent years. This article provides a guide to the field, focusing on the firm-specific ("residual") labor supply elasticity as the definition of a firm's labor market power. We present a general framework showing how this elasticity nests the three widely studied sources of monopsony power: search frictions, preference heterogeneity, and employer concentration. We summarize the empirical estimates of the elasticity of labor supply, highlighting sources of possible heterogeneity. We emphasize that it is difficult to infer elasticities from markdowns (and vice versa) due to the diversity of firm wage-setting practices, illustrating this point using the interaction between monopsony and efficiency wages. We discuss how policy issues in antitrust, labor market regulation, immigration, and macroeconomics interact with monopsony and conclude by listing several areas for future research
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Secretary of Defense Rock @sodrock.bsky.social · 14/08/2026
Wait, you need bases in order to supply and operate ships?
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Payton Chung @westnorth.com · 11/08/2026
The difference between market-rate housing and subsidized housing is the subsidy, not the housing -- and the subsidy is usually added long after rezoning. Here are many examples: ggwash.org/view/104401/...
ggwash.org
Want more subsidized housing? Start by building any housing
Most subsidized or “affordable” housing in America was not initially built as such. It makes little sense to oppose new homes because they are not subsidized from the very start; those homes very well...
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David Wessel @davidmwessel.bsky.social · 08/08/2026
Harvard's Gabe Chodorow-Reich reminds Kevin Warsh that academic & Fed economists have long been working on the questions he is asking about inflation, data, etc. Also, he notes, there is no task force on how the Fed should respond to a large and growing federal debt. www.nytimes.com/2026/08/07/o...
nytimes.com
Opinion | At the Fed, Kevin Warsh’s Silence Speaks Volumes (Gift Article)
The success of his chairmanship may rest on an issue that sits outside the traditional purview of monetary policy: the nation’s ongoing fiscal deficits.
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Karthik Sankaran @rajakorman.bsky.social · 07/08/2026
It is very important that the Fed react to a world with significantly higher economic and geopolitical uncertainty by meeting less frequently so that it can respond either belatedly or with seemingly panic-stricken intermeeting responses.
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EOC @orcma.bsky.social · 07/08/2026
Not quite true: the ~0.5pp drop in Jan 2026 was a revision that dates back to 2020, but isn’t incorporated into the official series
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Carl Quintanilla @carlquintanilla.bsky.social · 07/08/2026
FT: ".. Washington’s sales of euros .. were 'very striking' and 'sad' .. ".. 'This has never happened before,” they added, saying that decades of close co-operation .. may have come under threat." @financialtimes.com www.ft.com/content/d992...
ft.com
US euro sale to prop up yen blindsided ECB
Christine Lagarde and Scott Bessent spoke only after Washington’s historic intervention
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Justin Fenton @justinfenton.bsky.social · 06/08/2026
A Columbia woman has been feeding vultures on her property to the tune of as much as 200 pounds of chicken per day; county health officials are taking action, reports @lillianreed.bsky.social www.thebanner.com/community/lo...
thebanner.com
Vultures flock to a Columbia neighborhood where woman won’t stop feeding them raw meat
Vultures have descended on the Glenmont community in Columbia, where a woman won’t stop feeding them raw meat despite repeated orders.
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Daniele Girardi @dgirardi.bsky.social · 06/08/2026
🚨New version (1.0.3) of *lpdid* STATA command, which implements Local Projections Difference-in-Differences🚨 ssc install lpdid, replace The update fixes 2 bugs that could arise when using pmd() option in datasets with missing values or repeated oneoff treatments. No change outside those settings.
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Dario Perkins @darioperkins.bsky.social · 06/08/2026
lovely blog from @roblind.bsky.social on Warsh and why he doesn't yet have the credibility to drive his reform effort. Perhaps - just perhaps - that is also why his FOMC colleagues are so free with their "backroom gossip"? robertlind529294.substack.com/p/warsh-is-s...
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EOC @orcma.bsky.social · 06/08/2026
We’re so cooked
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EOC @orcma.bsky.social · 06/08/2026
sickos_yes.png
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Kimberly Clausing @kclausing.bsky.social · 03/08/2026
Out today: part 2 of my blog with Maurice Obstfeld on why so-called "optimal" tariffs are not optimal. Within, we discuss the latest research on tariff incidence, and what we've learned from the Trump tariffs so far...
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Reconstructionist @unavaleable.bsky.social · 29/07/2026
Oh my god he's so fucking real
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EOC @orcma.bsky.social · 28/07/2026
what.
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Tatyana Deryugina @tderyugina.bsky.social · 20/07/2026
Do you find it really difficult to keep track of the ridiculous amount of wrongdoing by the #Trump administration? Here's a handy reference to keep on hand, organized by type and severity (and updated monthly). ruleoflawfail.com
ruleoflawfail.com
Undermining the Constitution: The US Administration's Attack on the Rule of Law
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EOC @orcma.bsky.social · 27/07/2026
I’m reading and enjoying Emily Wilson’s odyssey but my god is she up her own ass here www.lrb.co.uk/the-paper/v4...
lrb.co.uk
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Scott Lincicome @scottlincicome.bsky.social · 27/07/2026
New @nberpubs: "Immigration and Macroeconomic Outcomes in OECD Countries" www.nber.org/papers/w3552... "Immigration from non-OECD countries was a significant predictor of GDP per worker growth, primarily through higher investment."
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EOC @orcma.bsky.social · 26/07/2026
Happy Octidi the 8th of Thermidor to those who celebrate
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The French Republican Calendar @sansculottid.es · 25/07/2026
Today is Octidi the 8th of Thermidor in the year 234. Thermidor is the month of heat. Today we celebrate safflower. #JacobinDay See today's page
An old time-y illustration of a Safflower.
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CineCalendar @cinecalendar.bsky.social · 26/07/2026
Jul 26th 1971 - Inspector William Armstrong interviewed a man who claimed that a person he previously worked with, Arthur Leigh Allen, might be the Zodiac killer. 📽️📅 Depicted in Zodiac (2007)
3 Screenshots from the movie "Zodiac" (2007): First, a close-up of a man's hand writing on a yellow legal pad with the date "1/26/71" and the words "The Most" visible, accompanied by the subtitle "He was drinking Coors, getting a load on." Second, a man in a suit sitting at a table in a sparse, institutional room with orange chairs and large windows, with the subtitle "Starts talking about hunting people. Like that book." Third, a wide shot of three men sitting and talking at a table in a mostly empty cafeteria, with the subtitle "Then he said he'd write letters to the police."
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CineCalendar @cinecalendar.bsky.social · 26/07/2026
Jul 26th - George Webber's driving license expired. He found this out after crashing into a police car. 📽️📅 10 (1979)
3 Screenshots from the movie "10" (1979): First, a police officer stands beside a cream-colored convertible parked on a sunny suburban street, speaking to the driver, with the subtitle "Would you mind stepping out?" Second, the officer holds a notepad and talks to the driver, who is now beside the car, with the subtitle "Did you know your license had expired?" Third, police officer is showing the driver his license with the subtitles "-What? -July 26."
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Helen Kennedy @helenkennedy.com · 25/07/2026
The wild eyed radical communist continues to destroy capitalism www.theguardian.com/us-news/2026...
theguardian.com
‘I’m over the moon’: New York’s small business owners rejoice as Mamdani cuts red tape
Initiatives including cutting permits just to serve ice-cream amount to a sweeping program of deregulation
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Adam Serwer @adamserwer.bsky.social · 24/07/2026
The racist backlash to Chris Nolan’s Odyssey is a kind of stolen valor, an attempt by the right to claim credit for achievements they had nothing to do with in order to justify racial hierarchy in the present. www.theatlantic.com/ideas/2026/0...
theatlantic.com
The Fear of Black Greeks
White people don’t own the accomplishments of ancient Greece.
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EOC @orcma.bsky.social · 23/07/2026
Bee flying around the metro and landing on people’s heads. Watch out!
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Boze Herrington, Library Owl @sketchesbyboze.bsky.social · 21/07/2026
By far the funniest moment in Homer’s Odyssey is when Circe says, “Shall we have sex?” and Odysseus says, “You just turned all my men into pigs. You have the GALL to think I would sleep with you? Of course I will. Absolutely. But don’t do any weird spells”
photograph of the relevant passage in Fitzgerald's translation of the Odyssey ("I make no bed of love with you upon it. Or swear me first a great oath, if I do, you'll work no more enchantment to my harm.")
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Matt Darling @besttrousers.bsky.social · 20/07/2026
I have a new piece out for @searchlightinst.bsky.social! Want to make housing cheaper? Stop taxing construction so heavily for being a volatile industry Our unemployment insurance system quietly makes it more expensive to build. Here’s how: (1/12) www.searchlightinstitute.org/research/the...
searchlightinstitute.org
The Hidden Tax on Blue-Collar Workers and Building in America
The unemployment insurance system has a design flaw that penalizes the construction industry, leading to fewer workers and lower productivity. Over time, that means less – and more expensive – housing...
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EOC @orcma.bsky.social · 20/07/2026
Crucial to read contemporary Tyler Cowen as the confessions of a man who knows he has fallen but cannot help himself. He’s lost his moral grounding and curiousity, and become a parrot for social media and the right wing griftosphere.
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Bob Elliott @bobeunlimited.bsky.social · 18/07/2026
FoReIgN pRoDuCeRs WiLl PaY tHe TaRiFfS...
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Menzie Chinn @mchinn.bsky.social · 18/07/2026
Given fundamentals (Trump's erratic behavior is No.1; inabiliity to admit defeat is No.2), why did anybody believe a reopening was likely #EconSky econbrowser.com/archives/202...
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Michael Andersen @andersem.bsky.social · 17/07/2026
The above does not vary by residential zone within an urban growth area. Aside from the minimum density if applicable, there'd be no upper or lower limits on height, unit count, home size, building size, lot size, roof pitch, lot coverage, or impervious area. Trying to figure out what to think.
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Michael Andersen @andersem.bsky.social · 17/07/2026
It's unusual for me to find a politician that's more YIMBY than I am, but Oregon Gov. Tina Kotek's administration is proposing to essentially replace local zoning on most parcels in the state with the last 4 pages of this document www.oregon.gov/lcd/LAR/Docu...
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EOC @orcma.bsky.social · 17/07/2026
Love getting a big lungful of that all natural smoky flavor
Smoky sky in dc area
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Carl Quintanilla @carlquintanilla.bsky.social · 16/07/2026
That’s an oldie but a goodie
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Carl Quintanilla @carlquintanilla.bsky.social · 16/07/2026
“.. Bessent’s avowed goal of getting the shortfall down to 3% of gross domestic product before the end of President Donald Trump’s second term (it’s currently running at about 5.7% of GDP) looks more and more like a pipe dream.” @bloomberg.com www.bloomberg.com/opinion/arti...
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EOC @orcma.bsky.social · 15/07/2026
So I guess it’s very difficult to get feiyue’s in the US now? We still live in tariff hell.
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EOC @orcma.bsky.social · 14/07/2026
CPI is a “fool’s gold” report: lots of softness in segments that have little pass through to PCE.
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EOC @orcma.bsky.social · 14/07/2026
This is forward guidance, kevin.
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EOC @orcma.bsky.social · 10/07/2026
one more unforgivable sin to add to Vance’s record: graeberism
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EOC @orcma.bsky.social · 09/07/2026
Some refreshingly orthodox names for most of these committees, but this is bleak
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