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

.@spignal has a point here.
RT @spignal: France having played just 20 minutes of football surely have the edge now.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1604523389925851144

This long read on the War in Ukraine is one of the best newspaper stories I have ever read. Truly a first draft of history-one that no other newspaper would have the resources to write.
https://www.nytimes.com/interactive/2022/12/16/world/europe/russia-putin-war-failures-ukraine.html

🐦🔗: https://n.respublicae.eu/lugaricano/status/1604133409810415618

La reforma del código penal supone que los políticos se ponen a sí mismos por encima de la ley.

Por el camino Venezuela, no de Dinamarca.

Explicado muy bien por Lucía Pedreña, abogada del estado https://blogs.elconfidencial.com/espana/tribuna/2022-12-17/politicos-encima-ley_3541268/

🐦🔗: https://n.respublicae.eu/lugaricano/status/1604093457861066752

RT @oneunderscore__: This was The Washington Post's @drewharwell's post before he was suspended from Twitter, outlining how Twitter suspended the account of its competitor Mastodon earlier today.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1603666648799526913

RT @elconfidencial: "No es frecuente ver a un Gobierno conspirando contra el Estado, pero este es el caso".

Sánchez y la Santa Compaña: un Gobierno contra el Estado. Por @ivarelad
https://blogs.elconfidencial.com/espana/una-cierta-mirada/2022-12-16/sanchez-santa-compana-gobierno-contra-estado_3541005/?utm_campaign=opinionEC&utm_medium=social&utm_source=twitter

🐦🔗: https://n.respublicae.eu/lugaricano/status/1603666402015051777

@CarbonBrief @Josh_Gabbatiss Could someone please post the updated chart with all the extreme underpredicting forecasts including the last one?

🐦🔗: https://n.respublicae.eu/lugaricano/status/1603183920836620288

RT @HannoLustig: 6/ And ECB losses do matter. Ultimately these are borne by all Eurozone taxpayers. Why is it a good idea to force these taxpayers to hold exposure to sovereign risk that they choose not to hold in their private portfolios?

🐦🔗: https://n.respublicae.eu/lugaricano/status/1603158539639431171

RT @HannoLustig: 1/The ECB is now in the business of using its balance sheet as a warehouse for risks that private investors do not want to hold at current prices. ECB has completely crowded out private investors in some markets.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1603158375100997632

You are welcome to join online my Markus Academy lecture on "Debt and the Euro" with @MarkusEconomist. Very much looking forward to it.

Link below.
RT @PrincetonEcon: Tomorrow (Thursday 12/15), @lugaricano will join @MarkusEconomist for this week's Markus' Academy lecture.

Sign up to join online: https://bcf.princeton.edu/events/luis-garicano-on-debt-and-the-euro/

🐦🔗: https://n.respublicae.eu/lugaricano/status/1603158215759470593

So let me get this straight.
When inflation is low: "we need to do QE exactly like everyone else without minding that we have a Union without fiscal capacity and with weak sovereigns".
When it is high " we cannot undo QE because we have a union with weak sovereigns"?
RT @klaus_adam: 3. I also hear things like we want QT because „others do it“. It seems seems to me that the problem of other central banks looks quite different than the one faced by the @ecb, as th…

🐦🔗: https://n.respublicae.eu/lugaricano/status/1603011852002361344

After months struggling to deliver the initial 9bn-that-became-1bn, the EU is finally stepping up to the plate with significant financial assistance to Ukraine. Very happy to see this. I hope this money is delivered speedily-Ukraine needs it urgently.
Good job @VDombrovskis
RT @VDombrovskis: Last payment from our €5 bln macro-financial assistance package:
@EU_Commission paid €500 mln to Ukraine in favourable loans to support #Ukraine

Next 👉🏻we are working to sec…

🐦🔗: https://n.respublicae.eu/lugaricano/status/1602988458569617408

@CarloMasala1 @minna_alander It is completely consistent with his argument. If Ukraine was nuclear this invasion would not have happened.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1602800346539122691

Se confirma hoy oficialmente la gran noticia del @ft que os contaba el domingo: primera fusión nuclear con balance de energía positivo. Debajo el hilo del laboratorio que la llevó a cabo.
RT @Livermore_Lab: On Dec. 5, 2022, a team at LLNL's @lasers_llnl conducted the first controlled fusion experiment in history to achieve fusion ignition. Also known as scientific energy breakeven, the experiment produced more energy from fusion than the laser energy used to driv…

🐦🔗: https://n.respublicae.eu/lugaricano/status/1602721838865563650

RT @JorgeBustos1: “Esto sí que es hacer historia”, Pedro.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1602713068521377794

In a post GPT3 world, where everyone will write the most polished applications for jobs etc. , do students need to learn how to write?
A thought-provoking essay by a high school teacher grappling with these questions.
https://www.theatlantic.com/technology/archive/2022/12/openai-chatgpt-writing-high-school-english-essay/672412/

🐦🔗: https://n.respublicae.eu/lugaricano/status/1602645957883138048

RT @DCHovell: I’m delighted to be able to offer our LSE law students and graduates (LLB, LLM & PhD) the opportunity to apply for a Judicial Fellowship at the International Court of Justice for 2023/2024. Application deadline is 18 January 2023. Further details here: https://www.lse.ac.uk/law/news/2022/icj-app-2023

🐦🔗: https://n.respublicae.eu/lugaricano/status/1602595737598050304

Agree. This is a huge blind spot.
RT @HannoLustig: I think we should put much more emphasis on teaching macro-economic and financial history in econ and finance PhD programs than we currently do. my cohort (including myself here) typically knows a lot less than previous cohorts (my impression). causes major blind spots.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1602577308199575552

Great thread on income inequality US vs EU:
1. Pre-tax: US much more unequal
2. Tax: The US tax system much more progressive (!)
3. Post-tax: tax system not progressive enough to reverse huge inequality gap

Conclusion: It is about pre-distribution, not redistribution.
RT @amorygethin: So happy to see our article forthcoming at AEJ: Applied 🥳 This was the very first paper I ever worked on, quite a journey since we started collecting data in 2017 with @thomas_blnc…

🐦🔗: https://n.respublicae.eu/lugaricano/status/1602448248924524544

RT @HannoLustig: 1/great 🧵on debt issued by EU not trading like the EU safe asset we hoped for. 👇

EU signals that EU debt is different from national debt and should be priced accordingly, but the ECB is signaling that all national debt is implicitly backstopped.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1602351756381650944

RT @emollick: We worry about technological plateaus for a decade, and then in the space of a week AI passes both the Turing Test & the Bar Exam and we get a net gain fusion reaction.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1602078511572946945