A Regression Mystery, Solved
All the economists who read this blog will no doubt be familiar with the popular instrumental variables (IV) regression technique, which is used to estimate the coefficient of endogenous variables. But who established the technique as a solution to the identification problem? Read More »
The Economics of Disrespect
Representative Joe Wilson’s much discussed “You Lie” outburst last Wednesday during President Obama’s health care speech has been compared to the 1856 savage caning that Representative Preston Brooks delivered to Massachusetts Senator Charles Sumner (for example, see here and here). Read More »
Lucas on the Shortcomings of Modern Macro
And so the debate about the state of modern macroeconomics continues. As the rhetoric escalates, perhaps it’s worth digging through the archives for real insight, instead. Here’s Robert Lucas in his 2003 keynote address to the History of Political Economy conference: Read More »
Call Me Bruce
Women in the legal profession with more masculine-sounding names, like Cameron or Kelly, have better odds of becoming judges than women with feminine names, according to a new study by Bentley Coffey and Patrick McLaughlin (gated; abstract here). Read More »
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