Very cool to see our work in WEO mentioned in the Economist! Niels-Jakob Harbo Hansen Silvia Albrizio economist.com/finance-and-ec…

TIL profits for public firms have halved(!) since 1980 🤯 Remember, these are the same firms with supposedly skyrocketing markups. What is going on?!

🚨 Public-firm profit rates have fallen to *half* their 1980 values 🚨, which explains why financial market rates fell despite rising/steady *aggregate* profit rates. papers.ssrn.com/sol3/papers.cf… New draft with Alexandre Sollaci & Carter Davis, & outstanding support from Anton Bobrov...🧵

We ran a survey across 28 countries to find out what people think about climate change policies. Check out the results! imf.org/en/News/Semina…

NEW: Replacing a low-quality retail manager with a high-quality manager can as much as double productivity. Read findings from Robert Metcalfe, Alexandre Sollaci, and Chicago Booth's Chad Syverson who study manager moves across retail locations in a new working paper.

Such a sad day. Bob Lucas, the most important economist in modern macroeconomics, and certainly the most important economist in my life, died today. He was such a deep and honest thinker. He was such a helpful and caring mentor. I owe him so much. Farewell Bob. Thank you.

Wait, retail shopping isn't dead? 🤯 1. Offline spending on consumer packaged goods (CPG) was flat from 2006-2016 2. Yes, online is growing. To a whole 3%! It's just not that big to matter for aggregate trends. Super interesting paper from Uyen Tran. dropbox.com/scl/fi/73pozfv…

When should governments steer innovation to specific sectors? Daniel Garcia-Macia and Alexandre Sollaci Alexandre Sollaci IMF find sector-specific subsidies beat neutral ones only under strict conditions—yet most advanced economies, like the U.S. & China, over-subsidize despite

When should governments steer innovation to specific sectors? Daniel Garcia-Macia and Alexandre Sollaci Alexandre Sollaci IMF find sector-specific subsidies beat neutral ones only under strict conditions—yet most advanced economies, like the U.S. & China, over-subsidize despite