Pinned
Replying to @chrisedmond
Speaking of the macro costs of oligopoly, pretty excited this bad boy will be in print soon....
Chris Edmond
7,320 posts
Chris Edmond
@chrisedmond
Professor of Economics, University of Melbourne
- Can we now put the whole Sweden thing to bed? Swedish GDP in the quarter to June 2020 fell by 8.3%. According to the national accounts just released, Australian GDP over the same period fell by 7.0%. Better (less bad) economic outcomes and far far better health outcomes.
- #QandA this is nonsense from Foster. An embarrassment to my profession. So angry that her fringe views are given this platform
- A few people have suggested I should respond directly to Professor Foster's arguments on #qanda last night rather than just saying I was appalled. I thought the other panelists did an excellent job of explaining why her arguments were unsound. There's no need to say more. But.
- It is just mind-blowing that for all the journalistic chatter about "greedflation" the correlation between firm-markups [profit margins] and industry-level inflation is basically zero.
@conlon_chris (with Nathan Miller, Tsolmon Otgon, and Yi Yao) study the correlation between changes in firm-level markups and changes in industry-level prices, finding little to no relationship. aeaweb.org/articles?id=10… - We have not gone too far on social restrictions. We should not "put the economy first". Idea of trade off between public health and the economy rejected by Australia's top economists. Open letter here covid19openletter.net @profholden @SHamiltonian @BruceJPreston
- This from Professor Foster is obviously offensive. But beyond that it's simply flat out wrong on the economics. Hours per worker and labour market participation are at record highs. The problems in the Australian economy are not because workers won't get off their "lazy couch"
- And maybe 80 times worse than Australia. With a similar sized recession. We should be very grateful the government did not listen to those touting the Swedish model.SWEDEN per capita deaths now WORSE than U.S. Strangely this stat is not prominent in @australian
- Note to my economics honours students. I have failed you if you ever give a discussion of wages and productivity as incoherent as this astonishingly inept display by the editor in chief of the AFR (good luck with your exams) #Insiders
00:00 - If your prize-winning article in the top finance journal cannot be replicated and you are forced to retract it, don't throw your junior coauthor under the bus. If you were happy to have your name on the publication and the prize, you own the data mishandling too.
- Replying to @GrogsGamutApparently the additional ~4500 Australians who've died literally do not count.
- A year ago today. Practically every creditable Australian economist, spanning the ideological spectrum. At the risk of excess self congratulation, I think we had the best of this argument. Our opponents have gone very quiet, taken to pretending success was inevitable.We have not gone too far on social restrictions. We should not "put the economy first". Idea of trade off between public health and the economy rejected by Australia's top economists. Open letter here covid19openletter.net @profholden @SHamiltonian @BruceJPreston
