Prof. of Economics @ University of Minnesota; Research: Inequality and Macro; Labor markets; Big data; Tax policy.
Jun 1, 2021 • 7 tweets • 3 min read
(THREAD) I want to share a few thoughts about the stagnation/decline in the *lifetime incomes* of men since the 1970s. It's perhaps been the most crucial factor shaping the current US social/political landscape.
First, here is a nice summary of key facts by @BeckerFriedman
(2/n) While stagnation in *annual* wages is well known, the picture is even more bleak for *lifetime* earnings & for men:
Median lifetime earnings was 10%-19% (PCE/CPI) lower for 1983 entry cohort than 1967 cohort.
Lifetime loss of $136K -- $283K in less than a generation!
Oct 15, 2019 • 21 tweets • 4 min read
New Paper! (THREAD)
Benchmarking Global Optimizers (w/ Antoine Arnaud & Tatjana Kleineberg): bit.ly/2IPIRGw
We compare performance of 7 popular global optimization algorithms. We find a clear ranking at the top of the performance ladder, with mixed results for rest.
2.Of the 7 algorithms, 5 are from the popular NLopt optimization library (CRS-LM, MLSL, ISRES, StoGo, ESCH) and 2 are variants of a new optimizer—which we call TikTak—that grew out of my research with several coauthors (esp. Tony Smith, Serdar Ozkan, Fatih Karahan).
Sep 11, 2019 • 21 tweets • 5 min read
1. (Thread): Here is a tweet summary of our paper on wealth taxation: “Use It or Lose it: Efficiency Gains from Wealth Taxation”: bit.ly/2k46stT
Along the way, I discuss some qualifications, and clarify a few things.
2. Our bottom line result is that wealth taxation is preferable to capital income taxation for several reasons. It improves aggregate productivity, reduces some key types of inequality, and raises welfare for a large majority of households.
