Pinned
David Baqaee
1,188 posts
David Baqaee
@DBaqaee
Economist at UCLA
- Yesterday, I lost a mentor and a beloved friend. I woke up to news that I've lost a limb without knowing it. Emmanuel Farhi was the closest to super-human I've known. If you have someone special in your life, let them know before you lose the chance. 🕯️🕯️
- I think about Emmanuel's absence every day. He was a force of nature. I'm thankful I managed the final mile on this paper without him (with help from colleagues). My life, let alone research, will never be the same without him.Forthcoming in the AER: "Supply and Demand in Disaggregated Keynesian Economies with an Application to the Covid-19 Crisis" by David Baqaee and Emmanuel Farhi. aeaweb.org/articles?id=10…
- New paper with Emmanuel Farhi and Kunal Sangani (a phenomenal PhD student), dedicated to Emmanuel's memory. He passed away last July, and without him the paper wouldn't exist. There's not a day that I don't think about his absence. A summary is below: nber.org/papers/w28345 1/n
- Extremely happy to receive this honor. The honor belongs to the colleagues, advisors, mentors, and family members who invested their time and energy in me.Congratulations to @BauNatalie and @DBaqaee from @UCLA for winning the 2022 Sloan Research Fellowship awarded to the "most promising scientific researchers working today" ! 👏🍾
- What is the value of new and improved goods? The question is central for our theories of trade and economic growth, in which the value of new and better goods provides the motive for trade, and is the source of long-run growth. 1/6How to quantify consumer surplus in love of variety/quality ladder models? Supplier addition/separation helps identify key statistic without functional form assumptions. Crucial input for policy questions & comparative statics in growth & trade models. econometricsociety.org/publications/e…
- Very excited to release this paper. It extends all my previous work on productivity to heterogeneous agents: a measure of aggregate efficiency with interpretable units—resources left after compensating everyone— that is tractable, identified from observables (no interpersonal
- New survey article with Elisa Rubbo summarizing propagation and aggregation of shocks in models with producer heterogeneity. Hopefully a good way for the uninitiated to dip their toes into this literature. We also made an accompanying .tex slide deck. 1/2 tinyurl.com/BaqaeeRubbo
- Its hard to get attention during a pandemic. If advertising my papers on Twitter doesn't work, I'll have start spinning signs at intersections.The tension between entry and rents lies at the core of a general theory of aggregation with scale effects, from David Baqaee and Emmanuel Farhi nber.org/papers/w27140
- Ever wondered how to measure consumer welfare when consumers are forward‑looking & the future is uncertain? 🤔In this NBER SI video, we use revealed‑preference sufficient statistics to estimate dynamic welfare—without forecasting the future.
00:00 - New paper on welfare measurement with non-homothetic preferences. Our paper is inspired by recent excellent work of @XJaravel and @DanialLashkari . We have a different angle on the problem we are excited to share. I think the intuition is pretty neat! econ.ucla.edu/arielb/welfare…
- Paper with (sadly departed and intensely missed) Emmanuel Farhi and @ksangani8: Where do aggregate increasing returns come from? Is it (1) increasing returns at the firm level (e.g. fixed costs), or (2) gains from more intense competition? We think (2).1/N voxeu.org/article/darwin…
- Very happy to see this paper published. An old summary is here: x.com/DBaqaee/status… Since then, we extended the method to allow for missing prices.Recently accepted by #QJE, “Measuring Welfare by Matching Households across Time,” by Baqaee (@DBaqaee), Burstein (@arielburst), and Koike-Mori (@YasuKoike_Mori): doi.org/10.1093/qje/qj…
- 1/7 🧵 Our new paper explores how supplier entry-exit impacts micro- and macro-economic outcomes. We reveal strong evidence that "Love-of-variety" and "Quality-ladders"—key aspects in growth and trade models—do exist and significantly influence growth.Marginal costs rise by 0.6% for every 1% of suppliers lost, pinning down micro value of supplier churn. Effect is big enough it can explain most of aggregate productivity growth, from @DBaqaee @arielburst Cédric Duprez, and Emmanuel Farhi nber.org/papers/w31231
