There is a subtle bias in controlling for variables in a world with equilibrium. Ie suppose some observable variable (house price) trades off with an unobserved one (say crime) in equilibrium as compensation. “Controlling” for price now means crime is an unobserved confounder

Behavioral economics seems kind of dead these days We do causal estimation, which bakes in both “rational” and behavioral channels. And structural modeling, which tries to just fit data with as many frictions as necessary. In neither case do you need a “behavioral” framing

Super interesting paper which argues that public (over?) insurance is why the Bronx burned in the 1970s

Cities in the global Asheville belt: Boulder, CO Bariloche, Argentina Dali, China Ubud, Bali Sedona, AZ Burlington, VT Monteverde, Costa Rica Dharamshala, India Chiang Mai, Thailand Freiburg, Germany San Miguel de Allende, Mexico What else?

My column in today's @FinancialXpress (with @AakankshaArora5) on how the obsession with "de-congestion" leads to urban sprawl, inadequate amenities and inefficient agglomeration. Unfortunately, this approach is embedded in our regulations despite decades of failure. The solution is to encourage concentration and build the infrastructure for it as it is both cheaper and more efficient. The good news is that a few states like UP have recently changed their codes to accommodate density. For those who prefer to read online:

My guess is fields like medicine, consulting, finance will still have a human touch even after AI is widely adopted. Some humans will do higher value things, as is usual after a tech upgrade. But law? I could see the legal profession largely automated

When we get self driving cars everywhere, maybe we can take down all the highway direction signs

Some more data around the impact of the FARE Act Seems like it did increase rents around 5%. It's plausible the increases apply to both fee and non-fee buildings There is some speculation landlords also respond by lowering listings and shifting to aggressive pricing

An economic plan for European economy revitalization: -Drastic cuts to regulatory barriers -Increased labor market mobility + entrepreneurship -Lower wage taxes + higher property taxes, pension reform -Continental capital market integration -Industrial policy -Nuclearization