Objectively, I know that "empty-nesters staying in big homes they don't need" is very far down the list of Problems With Housing™, but if you start taking "we can't tax property, or else some people we consider sympathetic will have to move" seriously, you end up with Prop 13.

Russia gets the same treatment (the west makes choices while Putin is like the weather) which makes me think this is a general theory of mind problem in the media

We're looking for a Data Engineer at the JPMC Institute! We've got a lot of really amazing data and systems, please reach out if you have questions or know someone! jpmc.fa.oraclecloud.com/hcmUI/Candidat…

“Earnings instability” presented by Christina Patterson, Pascal Noel Joe Vavra Weinberg, and me! Key finding: In 1 of 4 months, earnings will change at least 17%. Even higher for hourly workers. Longer thread soon. voices.uchicago.edu/ganong/files/2…

It is often underappreciated that bad decisions of regulators cause impacts far afield from those people that they notionally have democratic consent to regulate on behalf of.

Check out our new report on expense resilience and household liquidity! Cash savings are important for financial resilience, but admin bank data show that redirecting discretionary spending and accessing future income through credit are also very important!

This is a nice visualization & breakdown of how American households would respond to a $400 unexpected expense 67% would cover with cash savings, but that doesn't mean the remaining 33% can't cover at all. Another 25% would cover with mix of cash, income and/or short-term credit

This piece from J.P. Morgan Chase Institute really cuts against the "paycheck to paycheck" narrative. jpmorganchase.com/institute/all-…

That the US doesn't even have a blue bar is a tragedy

Very proud to have this report out! Top-line: when temps go up in summer, budget constrained h-hlds choose between air conditioning and regular spending. Our data suggest they mostly choose regular spending and just endure the heat.

Another paper from that NTJ issue "Trends in Student Loan Repayment" by Rajeev Darolia Tomas Monarrez and Lesley Turner They use Dept of ED data to document lots of interesting facts about student loan repayment journals.uchicago.edu/doi/10.1086/73… ungated: lesleyjturner.com/Darolia_Monarr…

New paper out today on how unemployment benefits affect unemployment TLDR: more generous benefits increase unemployment, but by much less than we thought and in ways that make it possible to make sufficient statistics more general than prior work (thread on three key results)

My father was a post-doc nuclear physicist working on civilian nukes in the 1960s when nuclear power was in its heyday. The reasons for its demise have very little to do with the common narratives of "environmentalists blocked it," or whatever. The industry slit its own throat.

Aspiring researchers: come work at Chicago Booth! I'm hiring pre-doctoral fellows along with a large group of Booth colleagues and our co-authors at other institutions. Positions start summer 2025. Application: chicagobooth.edu/-/media/facult… First deadline: Oct 1