It is the most useless field in economics. People doing reduced-form applies microeconomics pretending they are able to achieve internal validity with their limited toolset of quasi-experimental methods is laughable. The fact that they use that toolset to answer questions more suitable for an undergraduate sociology course course is embarrassing. This subset of ‘economists’ is making a mockery of our field. I can’t believe these people get jobs and publish in economics journals.
Applied micro is a joke field
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I agree that the pendulum has swung way too much towards applied work, and that there are silly papers getting published way too highly simply because their results are cute/PC/journalist-friendly. But only an ide/jot would fail to see why reduced-form empirical work matters too.
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I agree that the pendulum has swung way too much towards applied work, and that there are silly papers getting published way too highly simply because their results are cute/PC/journalist-friendly. But only an ide/jot would fail to see why reduced-form empirical work matters too.
Yeah I’m sure the majority of the IV papers with ‘important’ results are totally valid. Give me a break. It’s garbage work. Most of the people doing that work barely understand what they are doing.
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Oh no, I agree that the obsession over causality is misguided too! But invalid IV's can be found everywhere, it's not fair to bash applied micro exclusively over this. IO and macro people do this all the time, and the fact that they bury their assumptions under heavier math doesn't make them any more plausible.
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A well-trained master student (or even a advanced undergraduate with RA experience) can do a lot of papers published on applied micro (obviously with some guidance, both cases). The problem is not about methods but this game is about getting data and get the wanted results.
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A well-trained master student (or even a advanced undergraduate with RA experience) can do a lot of papers published on applied micro (obviously with some guidance, both cases). The problem is not about methods but this game is about getting data and get the wanted results.
You ignore the general equilibrium. Applied micro has low barriers of entry, so the majority of young economists are doing it. The only way to differentiate yourself is proprietary data. Successful applied micro JMPs using publicly available data are non-existent.
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"Hard questions are impossible to identify perfectly so therefore let's not try. Empirical micro is a joke."
I agree that the pendulum has swung way too much towards applied work, and that there are silly papers getting published way too highly simply because their results are cute/PC/journalist-friendly. But only an ide/jot would fail to see why reduced-form empirical work matters too.
Yeah I’m sure the majority of the IV papers with ‘important’ results are totally valid. Give me a break. It’s garbage work. Most of the people doing that work barely understand what they are doing.
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Yes, look at all that asset pricing and empirical IO and macro have accomplished!
Macro is So successful that Claudia is world rebound for ... using unemployment to indicate a recession! Leading macroeconomists are dunked on by URM undergrads on Twitter! Important presidential candidates are listening to advice from the likes of Kelton!
As for asset pricing, need I say any more than GME?
And IO, how about the fact that major corporations like T-MOBILE and sprint are Allowed to merge? You all done a great job in demonstrating the importance of competition to society!!
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Yes, look at all that asset pricing and empirical IO and macro have accomplished!
Macro is So successful that Claudia is world rebound for ... using unemployment to indicate a recession! Leading macroeconomists are dunked on by URM undergrads on Twitter! Important presidential candidates are listening to advice from the likes of Kelton!
As for asset pricing, need I say any more than GME?
And IO, how about the fact that major corporations like T-MOBILE and sprint are Allowed to merge? You all done a great job in demonstrating the importance of competition to society!!they have a much higher bar to enter than micro. end of story.
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Lol yeah right.
Yes, look at all that asset pricing and empirical IO and macro have accomplished!
Macro is So successful that Claudia is world rebound for ... using unemployment to indicate a recession! Leading macroeconomists are dunked on by URM undergrads on Twitter! Important presidential candidates are listening to advice from the likes of Kelton!
As for asset pricing, need I say any more than GME?
And IO, how about the fact that major corporations like T-MOBILE and sprint are Allowed to merge? You all done a great job in demonstrating the importance of competition to society!!they have a much higher bar to enter than micro. end of story.