The state of economics

I ask a question, Gabaix insults everyone else in the room

Leave a Comment / Macroeconomics, The state of economics / By

Like most economists, I like to ask questions in seminars and conferences. Sometimes the answers are quite informative. One interesting case was In November, 2017, I attended the Midwest Macroeconomics conference (https://editorialexpress.com/conference/MMMPitt/program/MMMPitt.html#block_detail_3). Xavier Gabaix was one of the plenary speakers. The tile of his talk was “Behavioral Macroeconomics” and he presented a paper titled “Behavioral …

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JPE does not want papers written for “smart people”

1 Comment / Computational Economics, Journal of Political Economy, RDCEP, The state of economics / By

Cai, Lontzek and I submitted our paper on the social cost of carbon in November, 2012, and received referee reports and a revision request from Monika Piazessi, the JPE editor handling the submission, in November, 2013. A couple of months later, we met with her to discuss the revision. In particular, I wanted to explain …

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DSICE: Dynamic Stochastic Integration of Climate and Economy

Leave a Comment / Computational Economics, Decisionmaking Under Uncertainty, Economics and Climate Change, National Science Foundation, RDCEP, The state of economics / By

I started working on climate change policy modeling in 2008, and it has been a major focus of my efforts since then. In 2010, Yongyang Cai, Thomas Lontzek and I created the DSICE model, extending Nordhaus’ DICE to include productivity shocks as well as stochastic elements of the climate system. While we had earlier published …

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