The classic Pacino "Any Given Sunday" Game of Inches speech
and the Oscar-winning Pacino "Scent of a Woman" performance, defending Charlie Simms from being expelled unfairly by the Baird School, a (fictitious) New England prep school
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New Gen AI paper🚨: "The Labor Market Effects of Generative Artificial Intelligence" with Filip Jolevski (@FilipJole), Vitor Melo (@MeloVitor_), and Brendan Moore (@BrendanDMoore). papers.ssrn.com/sol3/papers.cf…
Our headline takeaway: 30.1% of survey respondents above 18 have used Generative AI at work since Generative AI tools became public, consistent with other survey estimates such as those of Pew and Bick, Blandin, and Deming (2024) (which instead uses Qualtrics; we use IncQuery).
With respect to education, we find in our survey more educated workers are more likely to use Generative AI (consistent with the surveys of Pew and Bick, Blandin, and Deming (2024)). Nearly 50% of those in the sample with a graduate degree use Generative AI.
A thread🧵on my new paper: "Does Government Debt Management Matter? High Frequency Identification From U.S. Treasury Quarterly Refunding Announcements" with Lorenzo Rigon (1/N) papers.ssrn.com/sol3/papers.cf…
Government debt management is a classic question in macroeconomics and finance: if the government has to issue X in debt, how much should it issue at different tenors/maturities? (2/N)
Theoretical answers have ranged from 100% perpetuities (Barro (1997)/Angeletos (2002)), to more short-term debt (Greenwood Hanson and Stein (2015), arguing T-bills are like money) to 100% Treasury bills (Alan Blinder once argued if the yield curve is normally upward sloping) (3/N)
Thread🧵of those who attended Notre Dame's reopening: heads of state, clergy, firefighters who saved it, workers who rebuilt it, laity, the disabled. Rebuilding⛪️in 5 years shows we can still build great things, honor our sacred traditions & continue to live them. A historic day
French Presidents past and present: Macron, Sarkozy and Hollande
William, Prince of Wales, representing the United Kingdom along with Henri, Grand Duke of Luxembourg, and Maria Teresa, Grand Duchess of Luxembourg
The Brightline, a newly *privately* constructed, owned, and operated Florida railway from Miami to Orlando, is the most successful infrastructure story today in America. A thread on how it got done, how nice it is, and how it plans to replicate its success across America 🇺🇸 🧵
In 2007, Wes Edens and Fortress Investment Group, LLC used private equity funds to purchase Florida East Coast Industries (FECI), Florida's oldest & largest rail/infrastructure company for $3.5 billion. It was originally founded by South Florida pioneer Henry M. Flagler.
In late 2014, the company finished securing financing. Laying of new track began mid-2014. Service between Miami and West Palm Beach began in 2018. In April 2019, the company secured financing for the Orlando extension, construction began June 2019, service began September 2023.
1: Thread on nuclear policy, regulations and some of the potential scarring effects (& non-effects) of nuclear disasters. Summary: scarring effects of nuclear disasters which lasted decades are starting to wane as the world looks to nuclear energy as a source of clean energy
2: Some history: Ralph Nader's Critical Mass Energy Project formed in 1974 became the largest U.S. anti-nuclear group created false claims, convincing many Americans that nuclear energy from nuclear power plants had extreme far reaching negative health and environmental effects.
3: Of of the three major nuclear disasters (Three Mile Island, Chernobyl, and Fukushima), only Chernobyl had some direct casualties. Yet, the aggregate number of nuclear plants was halted after Chernobyl according to IAEA PRIS data.
A short summary of today's @JMilei speech at @Stanford @HooverInst; very technical economics heavy speech covering econ history, growth, general vs. partial equilibrium; dangers of models. Overall, critical of how economics has used market failure to justify state intervention.
2: Began with a discussion of intervention of the state and socialism. Much discussion of Hayek, Friedman and general equilibrium. Principle of noninterference good. Argues state intervention during COVID-19 pandemic caused 100k additional deaths in Argentina
3: Discussion of economic models and why we need models because the world is complex but that when they stray from reality they can become used to strengthen the state and socialism