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Marginal Revolution

Marginal Revolution

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Economics blog by Tyler Cowen and Alex Tabarrok covering economics, culture, and ideas.

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Articles

Discussions from Marginal Revolution

Economy

Who Pays for Unions?

If unions raise worker wages, who pays? We provide a comprehensive assessment of firm responses to increased unionization, using changes in the tax deductibility of union dues in Norway as a quasi-exogenous source of variation in firm-level union density. In the average private sector firm, higher union density raises labor costs and leads firms to […] The post Who Pays for Unions? appeared first on Marginal REVOLUTION. Commentsok, so kind of what an intro econ course would predict using a . ...

Norway
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Economy

Will U.S. cities face a knock-on fiscal crisis from the feds?

Federal money flows to cities in three flavors: direct transfers, indirect transfers, and what we call fiscal dark matter. Direct transfers are exactly what they sound like — money sent directly from the federal government to various localities. These include funds disbursed through programs like the Community Development Block Grant (CDBG), which supports things like […] The post Will U.S. cities face a knock-on fiscal crisis from the feds? appeared first on Marginal REVOLUTION. Related Stor...

United States
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Economy

Estimating the Economic Value of Zoning Reform

We estimate the economic value of zoning reform in São Paulo, which altered maximum permitted construction along transportation corridors. Developers increased filings for multifamily construction in blocks affected by the reform, leading to more housing supply and lower housing prices in neighborhoods that allow more densification. Our equilibrium model of housing markets estimates an aggregate […] The post Estimating the Economic Value of Zoning Reform appeared first on Marginal REVOLUTION....

Brazil
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Economy

The Value of Behavioral Policies

Behavioral interventions have become central to modern public policy, but their empirical promise remains contested because estimated treatment effects often appear small. We argue that a policy response is economically meaningful only relative to the response generated by alternative policies. We assemble more than 1,200 estimates from over 600 studies comparing “nudges” and traditional price […] The post The Value of Behavioral Policies appeared first on Marginal REVOLUTION. CommentsExcelle...

United States
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Culture

Victor Niederhoffer, RIP

In addition to his well-known public roles, he worked very hard to help and befriend me when I was younger. Here are the Google searches for Victor. Less well known about Victor is that he had one of the world’s best collections of private letters. He also once gave me a very nice small painting […] The post Victor Niederhoffer, RIP appeared first on Marginal REVOLUTION.

United States
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Economy

How does the market regard stablecoins?

We study the demand for safety and liquidity in the crypto ecosystem. We do so under a framework in which a representative investor allocates liquidity across stablecoin deposits in lending pools and traditional safe assets (e.g., MMF shares). Our model delivers three main predictions: (i) the stablecoin deposit premium co-moves with the Treasury premium when […] The post How does the market regard stablecoins? appeared first on Marginal REVOLUTION. CommentsHow does the market regard stableco...

Global
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Technology

Emergent Ventures winners, 57th cohort

Oisin O’Gorman, 15, Dublin, misinformation and fakes. Karsen Lee Wahal, Stanford, is AI killing the web?, and measuring media slant. Davy Deng, with Claire Wang (previous winner), whole brain emulation, MIT. Enej Grmek, 16, Ljubljana, privacy. Vladimir Shmelev, Ukraine, Ukrainian children for relief trips to Montenegro. Nik Verma, Chicago, a legal framework for AI agents. […] The post Emergent Ventures winners, 57th cohort appeared first on Marginal REVOLUTION. Comments…measuring media slant....

Global
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Economy

The economics of H-1B immigration

We study the effects of H-1B immigration on U.S. industries that employ H-1B workers and their trading partners. Using a novel cross-industry design and the 1999–2003 expansion of the H-1B visa cap for identification, we find that H-1B exposure raised incomes for natives and pre-existing immigrants, with gains concentrated in non-STEM occupations. Income gains propagate […] The post The economics of H-1B immigration appeared first on Marginal REVOLUTION. Related StoriesImmigration and Macroec...

United States
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Economy

On the Acemoglu-Autor et.al. fertility result

Here is criticism from Revana Sharfuddin. Here is criticism from JFV. The post On the Acemoglu-Autor et.al. fertility result appeared first on Marginal REVOLUTION. CommentsIn reply to Dismalist. You seem to assume that eventually . by Moral PanicIn reply to ElsieT. The 12.9 % annualized growth is a bit . by mentonot dramatically difficult to analyze the fertility crisis . by bigotI'm guessing that the desire for having children is to some . by DismalistIn reply to Action Figure. The total fer...

United States
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Culture

*Rome’s Age of Revolution*

The author is Tim Whitmarsh and the subtitle is Augustus, Empire and the Making of Christianity. This is the most important book on the history of Christianity I have read in a long time, and it is also an important work in Roman history. Yet also fun and extremely readable. Excerpt: The story I have […] The post Rome’s Age of Revolution appeared first on Marginal REVOLUTION. CommentsMy problem with Mel Gibson’s The Passion of the Christ is . by Cancelled for wongthinkIn reply to shrikanthk...

Global
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Culture

Rothko show in Florence

In Museo San Marco there is an ancillary exhibit, placing some smaller, lighter colored Rothkos next to their Fra Angelico frescoes. Those rooms bowled me over, as for one thing they show how much Rothko was a religious painter at heart. I also was struck by the high proportion of Chinese visitors at this show, […] The post Rothko show in Florence appeared first on Marginal REVOLUTION. Comments“Ken Griffin has very good taste in Rothko.” Ha! As if that . by JRMIn reply to Moral Panic. Over-in...

Italy
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Technology

Mexico (Taiwan) fact of the day

Mexico has quietly become a cornerstone of the AI boom, providing 40 per cent of US imports this year of the computer servers that are widely used in the data centres powering artificial intelligence. Taiwanese manufacturers are rapidly expanding factories in Mexico to assemble servers, which are now the country’s top US export, overtaking autos […] The post Mexico (Taiwan) fact of the day appeared first on Marginal REVOLUTION. Related StoriesMore math breakthroughs from GPT modelsThe wisdom ...

Mexico
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