THE YEAR IN ECONOMICS
Nominations from top economists, including selections by Raj Chetty, Sendhil Mullainathan, and Angus Deaton
One favorite from this excellent round-up is by Hulten and Nakamura on metrics, selected by Diane Coyle (we previously sent her Indigo Prize paper):
Accounting for Growth in the Age of the Internet: The Importance of Output-Saving Technical Change by Charles Hulten and Leonard Nakamura
Main finding: Living standards may be growing faster than GDP growth.
Nominating economist: Diane Coyle, University of Manchester
Specialization: Economic statistics and the digital economy
Why?: “This paper tries to formalize the intuition that there is a growing gap between the standard measure of GDP, capturing economic activity, and true economic welfare and to draw out some of the implications.”
Robert Allen's "Absolute Poverty: When Necessity Displaces Desire" is another metrics-related piece on the list.
Also noteworthy, on the future of work:
Valuing Alternative Work Arrangements by Alexandre Mas and Amanda Pallais
Main finding: The average worker does not value an Uber-like ability to set their own schedule.
Nominating economist: Emily Oster, Brown University
Specialization: Health economics and research methodology
Why? “This paper looks at a question increasingly important in the current labor market: How do people value flexible work arrangements? The authors have an incredibly neat approach, using actual worker hiring to generate causal estimates of how workers value various employment setups.”
Full piece by DAN KOPF here.