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Six #nuclear reactors closed since 2013. By my count, up to 23 more reactors may retire w/o policy or market conditions improving: 21.6 GW = ~1/5th of US fleet, 4% of US #electricity--and crucially, 12% of emissions-free generation.

So what's killing nuclear power in the U.S.?
In a new @MIT CEEPR paper -- 1 part #energy #economics & 1 part film noir murder mystery! -- I provide the 1st empirical estimates of what's driving down #electricity market prices & killing profitability of 19 #nuclear power plants across @pjminterconnect ceepr.mit.edu/publications/w…
You can read a short policy brief summarizing the paper & key conclusions @MIT CEEPR here: ceepr.mit.edu/files/papers/2…

Abstract & paper here: ceepr.mit.edu/publications/w…

Slides presented at #ASSA2018 here: dropbox.com/s/b6192hrvn331…
Read 34 tweets
1/OK, here is a thread for econ critics.

Sweeping criticism of the econ profession - especially of the type published in British newspapers - continue to focus on macroeconomic forecasting.

For example:
theguardian.com/news/2017/jul/…

theguardian.com/commentisfree/…

telegraph.co.uk/business/2017/…
2/I continue to receive regular tweets, blog comments, and the occasional email from people who tell me that economists are charlatans because of the failure to predict the 2008 crisis.

3/But even a cursory glance at the #ASSA2018 hashtag, which displays presentations and papers from the biggest econ convention, will show that most economists are NOT doing what the critics seem to think they're doing.

For example...
Read 26 tweets
A few tweets on Al Roth's presidential address on "marketplaces, markets and mechanism design #ASSA2018
Mechanism design is what we do as theorists. Market design is what we do when we intervene in real markets to improve them. Practical market design part of economic engineering, which means details matter. Marketplace design ever better term than market design (more applied)
The rule of markets adapt to new technologies. Think about Amazon and Uber. Amazon plucked an existing trade on new technology, but Uber is really a consequence of new technologies creating a new market, not a commodity market.
Read 13 tweets
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(Thread) #ASSA2018 panel on the economics of populism = great opportunity to catch up on ProMarket's coverage of the rise of populist plutocrats. First, Raghuram Rajan on the rise of populist pationalism as a “first step toward crony capitalism”
promarket.org/raghuram-rajan…
How to defeat populist plutocrats? “Build a counter-narrative” promarket.org/defeat-populis…
Populist plutocrats as a political phenomenon promarket.org/populist-pluto…
Read 6 tweets
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