Luis Garicano 🇪🇺🇺🇦 @lugaricano@respublicae.eu

RT @JohnHCochrane: Fiscal theory of the price level discount coupon (this time with picture) https://press.princeton.edu/books/hardcover/9780691242248/the-fiscal-theory-of-the-price-level

🐦🔗: https://n.respublicae.eu/lugaricano/status/1600495379182768130

RT @LUISENRIQUE21: No ha podido ser, lo hemos intentado pero no ha sido suficiente. Sentimos no haberos dado una alegría… así es el fútbol y la vida…a levantarse.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1600251603356770304

Congratulations Mr @ZelenskyyUa . You are much more than the peson of the year: you are a true hero.
RT @FinancialTimes: Ukraine’s president Volodymyr Zelenskyy is the FT’s person of the year 2022. The 44-year-old has earnt a place in history for his extraordinary display of leadership and fortitude https://www.ft.com/content/9599247f-c3cb-4d3c-a0b6-771f0aac8699

🐦🔗: https://n.respublicae.eu/lugaricano/status/1599969482822205440

Wow! The limits of AI- a dinosaur civilisation, explained with all confidence.
RT @emollick: Outside of your field you should be very careful. “Creative AIs” can seem completely certain about results, and getting them to switch from sane to hallucinatory is a difference of a couple words.

Since we mistake confidence for accuracy, a confident computer may be a problem.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1599796672648790017

@erikbryn Erik did you are this by @emollick?
?t=e7t2bZGbBIrRJ5kuv2Ac_A&s=19
RT @emollick: Look, if everyone is worried about students cheating on essays for AI, instructors can just cheat right back.

I asked OpenAI to give me an essay question & make a rubric for grading. I had GPT-3 actually write the essay.

I then had the OpenAI grade the essay & give comments. ✅

🐦🔗: https://n.respublicae.eu/lugaricano/status/1599212214233092098

RT @thorstenbenner: By the end of this year, according to estimates 59% of 5G RAN in Germany (and 100% in Berlin) will be provided by Huawei.

This is an abysmal failure to protect critical infrastructure, going against key intentions of law Bundestag passed against Merkel’s Huawei open door policy.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1599009470918467584

RT @emollick: Look, if everyone is worried about students cheating on essays for AI, instructors can just cheat right back.

I asked OpenAI to give me an essay question & make a rubric for grading. I had GPT-3 actually write the essay.

I then had the OpenAI grade the essay & give comments. ✅

🐦🔗: https://n.respublicae.eu/lugaricano/status/1598876183877197824

Importante dato en EEUU: la Fed de momento sin éxito en su esfuerzo por controlar la inflación - los salarios crecen al 6% anual.
RT @jasonfurman: The biggest news in this release is large upward revisions in wage growth for September and October and a big number for November.

This is the second time this year we've seen AHE revisions like this dashing the hopes that maybe nominal wages growth was cooling.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1598690929078042624

RT @jasonfurman: The biggest news in this release is large upward revisions in wage growth for September and October and a big number for November.

This is the second time this year we've seen AHE revisions like this dashing the hopes that maybe nominal wages growth was cooling.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1598689717415034882

RT @Rainmaker1973: One pretty cool geological fun fact is that the Scottish Highlands, the Appalachians, and the Atlas are the same mountain range, once connected as the Central Pangean Mountains

[source: https://vividmaps.com/central-pangean-mountains/]
[read more: https://en.wikipedia.org/wiki/Central_Pangean_Mountains]

🐦🔗: https://n.respublicae.eu/lugaricano/status/1598406193126539277

So OpenAI is already able to write a convincing essay and write good code...

And its capacity expands by an order of magnitude per year.

Will human input be needed in any cognitive tasks?

(OpenAI answer below)

🐦🔗: https://n.respublicae.eu/lugaricano/status/1598300948450811906

Even more astonishing. Convince ChatGPT to be evil just by making it pretend- hence deactivating all "moral compass" precautions that had been taken by coders.
RT @zswitten: With its inhibitions thus loosened, ChatGPT is more than willing to engage in all the depraved conversations it judgily abstains from in its base condition.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1598285188949479425

RT @HannoLustig: European leaders thought they had chosen the least costly route by not imposing a full energy embargo. Instead, they have chosen a long and costly conflict by keeping the Russian government, which relies on energy exports for 50% of its revenue, funded.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1598129410657619968

RT @FallonTonight: James Austin Johnson sings “Jingle Bells” as Bob Dylan through the decades. #FallonTonight

🐦🔗: https://n.respublicae.eu/lugaricano/status/1598083049065156608

Que inventen ellos, versión 2022:

Todas las empresas y administraciones juntas invierten 17 mil millones (INE, Nov 2022);

menos que una sola empresa como Facebook/Meta (25 mil millones en 2021) o Google/Alphabet (31 mil en 2021).
https://www.ine.es/dyngs/INEbase/es/operacion.htm?c=Estadistica_C&cid=1254736176754&menu=ultiDatos&idp=1254735576669

🐦🔗: https://n.respublicae.eu/lugaricano/status/1598051509748760577

I get the sense Aussies are happy...

Congratulations!
RT @TheRealALM: FUCKING SCENESEESSS

🐦🔗: https://n.respublicae.eu/lugaricano/status/1598017694548529153

NEW @Bruegel_org data: since September 2021, €674 billion, nearing 5% of GDP, allocated in European countries to deal with energy crisis.

This is as large as the "unprecedented" NGEU program.

When does this level of expenditure stop being "temporary"?
https://www.bruegel.org/dataset/national-policies-shield-consumers-rising-energy-prices

🐦🔗: https://n.respublicae.eu/lugaricano/status/1597988669356670976

"AI models are increasing in size and capability by an order of magnitude a year, much faster than Moore’s Law pacing."

We, human beings, are about to be made obsolete on "creative" tasks.

Read this piece by @emollick on the future of AI.

https://oneusefulthing.substack.com/p/ai-has-a-strategy

🐦🔗: https://n.respublicae.eu/lugaricano/status/1597965069903855616

Great WP from @EsadeEcPol on impact of increase (10-21%) in taxes on sugary drinks in Spain.
- 90% pass-through to prices
- 33% poorest households reduced consumption by 11 litres, larger in hhlds with kids
- Similar reduction in consumption of snacks
https://www.esade.edu/ecpol/es/publicaciones/heterogeneous-response-and-spillover-effects-of-ssb-taxes/

🐦🔗: https://n.respublicae.eu/lugaricano/status/1597953430429237248

Shocking decision by the European Court of Justice suppressing registers of beneficial ownership- one of the key tools (if not THE key tool) to fight money laudering and corruption. Please see this thread by @navalny researcher!
@GuyVerhofstadt @EPoptcheva @paultang @repasi
RT @pevchikh: 1/20 Dear friends, I need to draw your attention to something super bad and super important (and it doesn’t originate from Russia for once). Last week the EU has taken a shockin…

🐦🔗: https://n.respublicae.eu/lugaricano/status/1597734184440979456