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A cool research paper here that 1) uses weather-related delays to housing completions in Germany to estimate the reduction in rents from new homebuilding and 2) models how new market-rate housing supply reduces rents for low-income earners. 🧵

Forthcoming in AEJ: Applied Economics: "Rising Concentration of Household Shopping, Superstar Firms, and Implications for Retail Markups" by Justin H. Leung and Zhonglin Li. aeaweb.org/articles?id=10…

Forthcoming in the AER: "Marketwide Predictable Price Pressure" by Samuel M. Hartzmark and David H. Solomon. aeaweb.org/articles?id=10…

It's pretty wild that Visa began its existence under Bank of America (as BankAmericard), and Visa is now more than twice the size of Bank of America by market cap

Are immigrants more innovative? Yup. Immigrants tend to 1.) make up a higher share of business owners and 2.) operate more innovative and productive firms. "The evidence ... implies large contributions of immigrant entrepreneurs to U.S. innovation and growth."

Novo Nordisk forgetting to pay a $450 fee to renew the Ozempic patent tops a series of fumbles that let Eli Lilly catch-up in GLP-1s despite a 2-year lag: — Novo didn’t plan enough manufacturing for massive demand of WeGovy (the weight loss drug created after Ozempic); due to

In some countries, like the UK, there’s a tradition of letting the party of any lawmaker killed in an act of political violence run unopposed in the by-election. It lets people know violence cannot change the balance of power. It would be good for the US to do this.

President DesRoches shares a timeless lesson he learned from his dad and passed down to his children. Wishing a heartfelt Happy Father’s Day from our Rice family to yours. Dads, what’s the best advice you’ve ever given or received?

The Philadelphia Fed Grad Student mentoring program deadline is coming up: 6/20 ⏰ We prioritize nearby universities but have accepted applicants from all over the country. Apply to PFMAP! philadelphiafed.org/the-economy/ph…

11.9% —> share of household income the typical 2020 mortgage borrower is currently spending on their mortgage payment 26.1% —> share of household income the typical 2024 mortgage borrower is currently spending on their mortgage payment

The premium credit card arms race is wild. When JPM launched Sapphire Reserve card in Q4 2016, it spent $300m just on rewards to acquire customers and take on Amex. Meanwhile, over the past decade, annual fees paid for premium credit cards has jumped from $3B to ~$7B a year.

People in the comments: abolish the estate tax! Me: if this bill passes, (arguably exogenous) death timing generates huge variation in wealth shocks! wsj.com/personal-finan…

Obviously using chatbots makes you more dumb, everyone is skipping over the funniest part: the study authors are such dedicated LLM haters they set up traps to expose AI users lol

1. Meta provides granular estimates of household wealth for low and middle income countries. Read more about it here: x.com/yohaniddawela/…

🚨 New paper on #JAMAHealthForum 🚨 If you walk into a random dialysis facility in the US, there’s 🔹 An 80% chance it’s owned by DaVita or Fresenius 🔹 A 30% chance it has physician owners Both horizontal and vertical integration in this market have intensified over the past

This new working paper argues that female economics PhD students benefit tremendously from having female economics faculty around. How do they back up this claim? They look at the timing of sabbatical leaves. When female professors go on leave, it decreases third-year female

The CFPB survives again. Saved by the parliamentarian. bloomberg.com/news/articles/…

🚨 Call for Papers! 🚨 Submit to the 21st Annual Olin Finance Conference @WashUOlin, Oct 16–17, 2025. Topics: asset pricing, corp finance, behavioral, more. Deadline: July 13 Details: event.olin.wustl.edu/washu-finance-… #econtwitter

WHOA no one told me the CFPB union's merchandise went this hard

🔥 cfpb swag! Must wear for #HouseholdFinance folks this summer