Economics postdoc researching info frictions + ext validity in technology adoption at @HarvardHBS. PhD @NorthwesternU. All opinions are wrong, some are useful.
Joined November 2008
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10% is lower than we think as a cap. Treasury rates are low not only bc lack credit risk but also liquidity and other premia. The more relevant benchmark for opportunity cost of investment is maybe zero beta rate of @KurlatPablo et al. Frequently >10%! tinyurl.com/dt3ayujy
Let’s cap credit card rates at 10%. Take action on affordable housing. Protect rural hospitals. End price gouging.
Democrats have the bills ready.
@SenWarren says now it’s up to Trump to work with us and get things done.
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Our results more closely resemble Lazear. There are a handful of traits with statistically significant derivatives. For these traits, like ethics, one firm associates higher ethics with better retention, while another firm believes retention is worsened. 16/n
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Doing this reveals heterogeneity in how applications are impacted by this "firm fixed-effect". Applications with low average scores across traits are barely affected; for applications in the top quintile, this explains a fifth of the gains we calculated 12/n
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Now, disagreements could be squabbles over small differences in predicted likelihood. We show they are not. We calculate each application's gap between their max predicted likelihood across firms minus the receiving firm. Gains are large and heterogeneous by trait profile. 9/n
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Three main findings. First, firms value very different workers! An application's percentile ranking according to one firm informs nothing about how it would be ranked by a different firm. 8/n
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