Justin Wolfers

All Photos Twitter.com
🧵: There’s a lot of misinformation and confusion about what the end of Disney’s Reedy Creek district means for the company and for taxpayers. Here’s what I know, after talking to lobbyists, lawyers and tax officials:L
Retweeted by Justin Wolfers
“Square Roots: No mathematical concept that encourages using radical symbols should ever be taught in schools.” mcsweeneys.net/articles/math-…
Hats off to Charlie Evans, who has been an intellectual leader at the Fed throughout his tenure. twitter.com/Fullcarry/stat…
Netflix put up its price and its quantity fell. Why this is a shock is beyond me.
Retweeted by Justin Wolfers
At the airport today we’ve got the people wearing masks and the people not wearing masks - but what’s remarkable is that we’ve also still got the people wearing masks but not over their noses.
Retweeted by Justin Wolfers
The costs of masking on public transit for x hours is probably roughly linear in x The benefits of masking on public transit for x hours is also roughly linear in x Both costs and benefits are zero when x=0 => Whether the benefits of masking exceed the costs doesn't depend on x twitter.com/NateSilver538/…
A Phillips curve for Google searches on "inflation" and "unemployment" over the past two years looks about how you'd expect. We've been on vertical part since October 2021.
Retweeted by Justin Wolfers
Not the first time in my life I've been rated a point behind Betsey... twitter.com/ratemyskyperoo…
Does money buy happiness after all? Economist @JustinWolfers and I discuss his paper disputing the widely-accepted theory that income after a certain basic level doesn’t lead to increased satisfaction. Watch the interview at youtube.com/watch?v=DZdMT-…
Retweeted by Justin Wolfers
I'll be on @MSNBC @11thHour in a couple of minutes, to talk inflation, economics and what it all means, with the wonderful @SRuhle.
Great conversation today about inflation. Here's my favorite quote from @JustinWolfers on why gas tax holidays are a bad idea. twitter.com/BPC_Bipartisan…
Retweeted by Justin Wolfers
Some simple arithmetic explaining why core inflation has likely peaked.
We're about to start talking inflation, pretty much... now. Inflation's very much in the news, and I wanna explain, and help you understand what's going on. twitter.com/BPC_Bipartisan…
Quick takeaways from the March CPI report below. Can't wait for @JustinWolfers & @DianeSwonk to join @BPC_Bipartisan experts at noon ET and dig into more detail about what this means for consumers and the economy. twitter.com/i/spaces/1vOxw… twitter.com/JustinWolfers/…
Retweeted by Justin Wolfers
Congratulations to our new Clark medalist (awarded to the American economist under age 40 who has made the most significant contribution to economic knowledge), Oleg Itskhoki. My quick mental count says he's also UCLA's first Clark medal. aeaweb.org/about-aea/hono…
Wondering about gas prices? Clear explanation of rockets and feathers, as @andrewvandam interviews the exact right person, Matthew Lewis: washingtonpost.com/business/2022/…
Retweeted by Justin Wolfers
Lotta headlines today about "inflation at 40-year high." We have a nice test of whether the media is symmetrically interested in good news because in the next month or so, it's likely that unemployment will hit a 50-year low. Will this attract as many breathless headlines?
Summary: - Inflation is high - Much of this is due to temporary factors, so headline inflation is likely to fall in coming months - Core inflation is not only lower, but lower than many anticipated (good news!) - Looking forward, the big concern is slowly rising service inflation
Inflation is a very important concern right now, but breathless headlines overstate the point. Most private-sector forecasts see inflation as peaking this month or maybe next (if more bad things don't happen), so hold on... things may be about to get better.
The reason for focusing on "core" measures of inflation is not to deny the (very real!) fact that the cost of living is rising, but to get a sense of how much inflationary momentum there is. Core inflation is quite a bit lower than headline. Also, PCE inflation is lower than CPI
This is a good point: Rising food and gas prices probably hurt the poor more, because they're a bigger share of their budgets. twitter.com/GregoryGivens/…
But services account for 60% of our spending, and inflation remains far lower there, at 5.1% (or 4.7% less energy) Of greater concern, service price inflation is slowly and gradually ramping up. This month was the highest in a while.
Goods price inflation is still leading the charge with goods prices rising +14.2% over the year. That a story of a surge in demand meeting unlucky supply disruptions: The pandemic, chip shortages, China's factories opening and closing, Russia hurting energy prices, shipping etc
There are a bunch of good whose prices are temporarily elevated, and if those prices unwind, they'll actually fall, pulling the inflation rate down with them. For instance, used car prices fell -3.8% last month, but they have a lot further to fall.
One key problem right now is that the most salient prices are rising at rapid rates. Prices for food at home (the grocery store, basically) rose 10% over the year. Gas rose 48%. While these prices are salient, they collectively only account for 12% of spending.
Headline CPI rose +1.2% in March, for a year-ended rate of 8.5%. Core inflation slightly lower than anticipated, rising by only 0.3%, yielding a year-ended rate of 6.5%. Obviously inflation is higher than we hope. But this report is slightly better than anticipated.
Happy CPI day to all who celebrate (or in this case, commiserate). Market expectations: - Headline CPI inflation of 1.2% this month, dragging the annual up to 8.4%. - Core inflation of 0.5% this month, for a year-ended rate of 6.6%
Also I have precisely zero inside knowledge about whether the administration plans to nominate Barr. I just think he would be great for the role.
Having worked closely with Michael Barr (he's Dean of the Ford School), I can say that he's a terrific manager, with sound financial instincts, and a deep commitment to a financial system that works for everyone. He would be a fantastic Fed vice chair for supervision. twitter.com/adamcancryn/st…
This is exactly how it works. My Econ 101 class takes a preominantly Marxist perspective because Jim Harbaugh quietly explained to me over lunch that the Big10 would prefer it that way. twitter.com/ConceptualJame…
If the huge swaths of the public believe American jobs are shrinking when the opposite is true, the news media needs to do better. Here’s how. My column. (No paywall) wapo.st/3jlzyjt
Retweeted by Justin Wolfers
Also, the facts about wealth inequality are just amazing, aren't they?
Sure it's a stereotype about us Aussies, but you can't argue with results.
Which of the two wealth inequality graphs is a better pick for my intro econ textbook?
Which is a better/clearer/more interesting/interpretible way to present wealth inequality statistics (for my intro econ textbook)? (Poll in following tweet)
Love to see this message getting through. twitter.com/NickKristof/st…
The GOP numbers are just astonishing. Fox, Newsmax and OAN viewed as more trustworthy than anything except the weather channel. twitter.com/YouGovAmerica/…
Retweeted by Justin Wolfers
The pause itself costs almost twice as much as the entire Pell Grant program. But while Pell Grants go to low- and middle-income undergraduate students, the debt pause disproportionately benefits high-income Americans with advanced degrees. crfb.org/press-releases…
Retweeted by Justin Wolfers
This seems important for Econ, where it's not unusual for women entering a doctoral program to have zero female peers. twitter.com/vkbostwick/sta…
When you finally identify your key voting demographic. twitter.com/JDVance1/statu…
Appalling to see Public Choice giving scientific credibility to yet more John Lott nonsense statmodeling.stat.columbia.edu/2022/04/03/the… Thorough debunking by Grimmer and @aeggers dropbox.com/s/ouxd7zinzv8l…
Retweeted by Justin Wolfers
Employees at @bolt have been working a 4-day workweek since September. I dug into their experiment to ask: could this work across corporate America? My answer is YES. But it requires a far bigger rethinking of the way we work than you might expect: businessinsider.com/four-day-workw…
Retweeted by Justin Wolfers
A lovely piece about the reality of working with data. twitter.com/vboykis/status…
Supply shocks, bottlenecks, and robust (and unbalanced) demand. twitter.com/RBReich/status…
One measure of an authoritarian state is that government uses its power to compel private enterprise to go along with the party line. This is straightforward advocacy for such authoritarianism. twitter.com/Acyn/status/15…
Retweeted by Justin Wolfers
Twiends™ uses the Twitter™ API, displays it's logo & trademarks, and is not endorsed or certified by them. These items remain the property of Twitter. We do not sell followers, we only provide display advertising. Bots & fake accounts are not permitted on twiends. © 2009
Grow Your Twitter Free
Want To Grow Your Twitter?
We help other people find and follow you on Twitter.
Key Info:
Started in 2009
Over 6 million signups
Country targeting provided
We never auto tweet to your timeline
We never auto follow others
We actively moderate our community
Please Share
Please upgrade your browser  chrome