1) Research is emotionally difficult, at least for me. I *hated* working alone. I was on leave when @pascaljnoel and I started working together in earnest. There’s a good chance I would not have finished my PhD if we hadn’t started working together.
Ask yourself “If you are going to work long hours and push your limits, would you rather do that alone or as part of a team?”
You aren't going to be forced to work alone when you get the job, so not obvious why you should subject yourself to it in order to get a job. This is equally true whether you go into academia or not. Most jobs for economists are team-based jobs.
2) Quality quality quality. The quality of what the two of us put out together is much better than if I was working alone.
Why?
i) @pascaljnoel shoots down crappy ideas.
ii) If you have to explain your idea to someone else right away, it forces you to think more clearly. Which brings us back to i)
[Finally this explains why I work with @pascaljnoel… As for why he is working with me, I am not sure so you will have to ask him, although he once joked that he might have never submitted a paper without a coauthor who was eager to submit]
3) Teams are better in low-information environments. As a PhD student there is a ton you do not know about how to write a paper. You've never really done it before! The returns to collaboration in any domain are especially high when information is low.
Does a coauthored JMP seem like a good idea for you? If so, we have three more pieces of advice.
4) A lot of good research is at the intersection of two fields. It might therefore be possible, unlike Ryan and Carolyn, to go on different field markets. This is what Pascal and I did. Solves the overlap problem.
5) Think carefully about skill sets. There are different approaches to coauthoring. One is specialization into comparative advantage. The other is to have two utility players. Either model might be good for you. (We are pretty close to the latter world.)
6) Think about it like a marriage. You are constantly facing new challenges and so you can’t just write down a contract at the start of who does what. Instead, you should expect some amount of friction and productive conflict arising from the new challenge
We spend a lot of time thinking about improving our research *process*, constantly trying to improve and communicate about how we do things. If you want it to be strong you should expect to work at it!
Millions of people have had federal UI benefits cut off
Stated goal: speed the labor market recovery.
Is it working?
Tldr: It’s going to be really hard to use state employment data to do a good job of answering this question.
Looks like a noisy 0
So far, 26 governors have announced plans to cut off at least some federal benefits. 20 are cutting off all benefits by July 5. This is where we might expect to see the biggest effects.
In those states, over 1 million people had their benefits fully cut off and another 1+ million people lost the supplement by July 5.
1) we can track workers’ experiences over the course of pandemic
Confirm well-known fact: long-term unemployment is high
New finding: *repeat* unemployment has been rising. (Estimates of long-term unemployment in the CPS miss this since they only ask about most recent spell)
Newly published paper by @danascoot@finamor_lucas which has I think the best evidence to date on the incentive effects of the $600 weekly supplement (🧵)
The paper uses time clock data from small biz, many of which are restaurants. they compare workers with higher and lower earnings in 2019 & ask "were workers with lower earnings in 2019 (and therefore higher benefit replacement rates) slower to return to work after expiration?"