Principal, https://nitter.gq/t.co/Qx7iiS8rOa; co-founder, https://nitter.gq/t.co/tGo9WX1dt4. Cities/inclusion/equality. Rooting for the underdog.
Cambridge, MA
Joined August 2012
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I don't have rules on AI use in doing problem sets. But to avoid students using AI to substitute for learning, I give an in-class quiz based on each PSET.
If students mostly used AI to do the PSETs and didn't learn from using AI, one might expect a low correlation between the PSET and QUIZ grades.
In practice, I find a correlation coefficient of 0.77.
This is nonsensical: "help narrow the U.S. wealth gap" by "match[ing] the U.S. government’s one-time $1,000 contribution to children’s retirement savings accounts for eligible employees" of JPMorgan Chase and Bank of America
cnbc.com/2026/01/28/jpmorgan…
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A new study on "Where Discovery Happens" found that with basic research in the life sciences, Harvard contributes more than Canada & France combined. Boston, Cambridge, & Newton are just behind all of China—and well ahead of every other country in the world. Most of this is from federal funding, which is not, contrary to popular misunderstanding, "taxpayer support of Harvard" -- it's a fee for service, namely discoveries in the life sciences. (Thanks to my colleague Jason Furman for this summary.) nber.org/system/files/workin…
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Hard disagree. The official BLS jobs numbers are still the most reliable data we have, and it's not close. And there's no way the Administration has (yet) fiddled with its data. I promise to let you know at the first whiff of interference.
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Economists think about innovation spillovers across competing firms. Horizontal spillovers.
Tasaneeya shows that innovation, and incentives to innovate, also spreads vertically along the supply chain. The supply chain itself also adapts to R&D activity: highly innovative upstream firms match with highly innovative downstream firms.
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TML retweeted
Europe *looks* wealthier than America because more of its wealth is in public, where it benefits everyone. Parks, public transit, civic infrastructure etc etc. Fewer giant mansions and private hunting estates, because the rich pay high taxes. It‘s a choice.
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How to reconcile ADP and BLS payrolls?
I actually don’t see the gap as too big this month.
ADP measures private sector jobs. It correctly flags the sharp slowdown in private sector jobs this month. Particularly the slowdown in private education and health.
This month’s nfp is driven by about 70k net increase in state and local jobs net of federal jobs, which were not counted in adp.
We also know BLS nonfarm payrolls have a birth death model problem still this year, overstating monthly growth by at least 80k-100k per month.
Adp also doesn’t consider weather factors.
So:
-33k (adp) + 80k-100k (birth death overstatement) + 70k (net govt jobs) = 123k-143k nfp headline.
TML retweeted
Well whaddya know.
"The City of Los Angeles could largely solve its $1 billion budget shortfall by allowing more homes to be built near its transit stations."
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Census Bureau: Detroit has gained 11,000 residents over the last two years, representing the largest numeric increase in Michigan. The city has now grown by >1% since the 2020 count.
Just incredible news, especially considering the situation 10-15 years ago.
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A long term solution to the US transit funding crisis lies in capturing the value that transit creates: the increase in local land value around frequent service. That's the key to delivering both transit and dense housing nearby.
Great @jongeeting piece, linked in first reply.
Hollywood At Risk of Becoming the “Next Detroit Auto.” L.A. Production Insiders Voice Alarm: "shoot days in the first quarter of 2025 had declined 22 percent compared with the same period the year prior" hollywoodreporter.com/busine…
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There is no brilliant insight here. What the "gurus" are good at is stating the obvious after the rest of us are busy actually working
Very smart, moving post.
Congratulations, look forward to your future work.
Quick update: my name has changed from Brian Riedl to Jessica Riedl. Fear not, my focus on rapid-response (center-right) economic policy and cool budget charts won’t change.
Link below will be my only comment and explanation on this. Back to policy! jessicariedl.blog/p/yes-my-n…
"Detroit’s business-district transformation offers lessons to other cities that are struggling to revive their empty downtowns and avoid being sucked into a debilitating doom loop."
Bankrupt just a decade ago, it's now America's most unlikely boomtown trib.al/lnKAS31
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A thread on my paper with @MassEconomics,
published earlier this year in @EDQ_Journal: "Beyond Local and Traded: Evidence for a Third Industry Market Area Type and Implications for Regional Economic Development"
journals.sagepub.com/doi/ful…
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For decades, planners, geographers, and economists have categorized industries by the geographic areas they serve. "Local" industries serve nearby customers. They include grocery stores, restaurants, gas stations, etc. They're present pretty much everywhere
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“Traded” industries, on the other hand, serve customers around the country or the globe: cars from Detroit, movies from Hollywood, pharmaceuticals from Boston.
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Because they serve global markets, traded industries tend to be spatially concentrated. This map of auto manufacturing, for example, shows how it has a major presence in about 10 US metros, a minor presence in 15 or so more, and no presence at all in most metros
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Local and traded industries play different roles in metropolitan economies: traded industries bring money into the metro from the outside, while local industries provide the bulk of employment.
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Because of this, economic development strategies often focus on attracting or developing traded industries. Here's an example from work @MassEconomics did with the @MemphisChamber
blog.memphischamber.com/clus…