Wednesday, August 08, 2007

Y Tu Mama Tambien

Just a brief note to ask why nobody's brought the following quote from the above movie to any of our attention (swears obviously removed): "F economists, man. Those pri**s can suck my d***." I was just highly amused this past weekend.

I've managed to work through all of the micro problem sets from this past year and am now chugging through the old prelim exams on the econ web site (the link is up and to the right). I have to say, it's been a really fun summer learning all of this material a second time and seeing how things fit together.

Also, if you're doing work on repeated game theory, I highly recommend this text book by Samuelson & Mailath.

Finally, I've been playing a bunch of ice hockey to keep active during the summer. It's a phenomenal sport. Tons of exercise, lots of fun, high speeds. But this must be the dumbest thing I've ever seen.




Best,
Ariel

Thursday, July 26, 2007

Micro. Yee, haw.

Hey. I've been busy working (and reading Mike's blog at strainonlife.blogspot.com), so not much to post these days. I've added a link to the micro problems from the first half of my micro sequence in the upper right box, but I'm not posting assignments for micro as I'm basically just working through all of them. I didn't post what I did for my third macro assignment, but you can flip through the assignments from the third quarter (8107) -- there are some really interesting income fluctuation problems in there, and upon review, I found myself really enjoying these problems. I will add that though I didn't do the programming parts of these assignments, one of the problem sets (see Macro problems, 8107 PS #4, pages 39-40) required us to solve a standard income fluctuation bellman using 4 different methods, one of those being a new "endogenous grid" method, which is pretty ingenious. You can find info on how to solve these problems in Prof. Perri's lectures notes. I'm saving our fourth mini (mainly on contract theory, mechanism design, and time consistency problems) for a week or so from now.

The most interesting econ related thing I've read recently is a Chari-Kehoe Handbook in Economics paper on Optimal Fiscal and Monetary Policy. I've worked through most of the Fiscal policy, and next week I'll start tackling the monetary stuff (since we've got to review cash-in-advance models for our macro prelim anyways) next weekend.

Working on micro for the past week has reminded me how much a fundamental understanding of a few key math definitions and results can really make your micro life easy. Those results being: Upper and Lower Hemi-continuity of correspondences, the Theorem of the Maximum, and Brouwer and Kakutani's Fixed Point Theorems. It's a small list, but they're all rather important.

Ok. Well, that's what's keeping me busy. And for a little fun: ESPN on the Williams-amHerst rivalry.

Cheers,
Ariel

Wednesday, July 04, 2007

TDCEs and Me

So... spent the last two days working through the standard growth model as well as spending a lot of time working with Tax Distorted Competitive Equilibrium models (TDCEs). For some reason, Ramsey problems just didn't make any sense to me last fall, but, especially after working with them a lot under the auspices of repeated game theory this spring, I'm finally starting to feel comfortable with them. It's been a nice start, but now it's time to get into some problems with uncertainty and hopefully a little search theory, which I really enjoyed.

In other news, I saw ben this past weekend. He's preparing for his first exam which is this friday (Good Luck!) in Micro. He seemed well. And then, perhaps more relevant for those in new york right now, I saw this video on the nytimes website (I think). I wouldn't watch anything more than the first few seconds, but it's a pretty neat.

Best...

Monday, July 02, 2007

Committment Mechanisms

Hey.

So, since this space is dead anyway, I'm hijacking it for personal use. Basically, you'll now see a "Current Assignment" posted at the top right of the blog, and it lists the problems I'm currently working on in preparation for my prelim exams at the end of august. When I come across interesting problems, noteworthy ideas, or questions, I'll be writing posts about them. I'm hoping that frequent updating will keep some momentum going for me as I try to cram a year's worth of micro and macro into the next 7 weeks. I'll have the problems I'm working on and a link to the problems themselves up in that sidebar.

Feel free to chime in if you're interested in working along side with me.

Best wishes to all,
Ariel

Saturday, March 24, 2007

Where's the Inefficiency?

Hi everyone,

I hope everyone's having a great spring -- yes, it actually feels like spring, even in Minneapolis. Anyways, I just got a kick out of this article in the Times this morning on "Booing" at sporting events... and thought I'd ask if anyone knows why we'd need to regulate free speech at sporting events...

I've seen a lot about fan behavior out here attending the (#1) Golden Gopher hockey games, and it's really quite impressive to see how much more knowledgeable hockey fans out here are compared to at Ranger games in NY. I've been surprised by how little these fans boo their own team, and how when they do it really means something -- yes, they're only college players and not professionals, but MN people take their Gopher Hockey as seriously, if not more so, than the MN Wild pro team...

I also just wanted to mention that my original intent of this blog was as a way for a bunch of us to keep in touch without having to email everyone individually -- so even if you don't have econ related content and just want to say hello, drop us all a line.

We're doing contract theory in Macro right now (Sargent and Ljungqvist Ch. 19-20), and I'm really enjoying playing around with enforcement constraints -- though I'm still not quite sure what these models are used for just yet...

Hope all is well with the rest of you. Best wishes,
Ariel

Monday, January 15, 2007

Generation Next

Hey Guys,

Sorry it's been so long since I last posted. I hope everyone had a great holiday and I wish you all a happy new year.

I wanted to let you all know about a documentary that a longtime classmate of mine help put together currently airing on PBS. It's called Generation Next, and the premise is to figure out the voice of the current crop of 16-25 year olds (generation Y I suppose). While some of the interviews contain a lot of pretty vague generalizations -- what else would you expect from college students -- I found some pretty interesting nuggets of information in there. The kind of observations that tend to be good starting points for research -- such as the average level of debt held by current college graduates or the percentage of our generation that believes gay marriage is OK. I would definitely consider this worth seeing, and you can find when it's airing by checking it out at PBS -- click here, then on Generation Next.

In other news, I went skiing with a bunch of my classmates this past weekend on the north shore of lake superior, and though we faced sub zero temps at times, views like this made it worth it. The couple inches of snow we got the day we arrived helped a bit too.

Best,
Ariel

Tuesday, January 02, 2007

an inconvenient truth...for republicans

Yesterday I watched Al Gore's film, An Inconvenient Truth. Expecting to see a documentary about global warming, I was (surprisingly) surprised to find that the film has an obvious dual-purpose: in addition to "educating" the public about global warming, the film was primarily about positioning Mr. Gore for his future.

Either the Vice President is trying to make himself into a public intellectual in the Friedman/Galbraith model, or he is going to run for president in 2008. I believe it is the latter, and Gore's film does two things to further this goal: presents himself as the anti-Bush, and corrects the mistakes of his last campaign.

The Anti-Bush

In addition to cracking jokes about the current Administration, Gore littered his film with images which call to mind a man who is exactly what President Bush is not: intellectually curious and personally engaged.

Gore is constantly working alone on his Mac, he is making his own PowerPoint slides, he is answering his own phone. We learn that he became interested in global warming during a college course (did President Bush go to college?) and, as a young congressman, brought his former professor to Washington to testify on the dangers of carbon dioxide emissions. How earnest.

The Vice President is shown making trips all over the globe using technical, scientific terms in his presentations, quoting Mark Twain and Upton Sinclair, attempting to, in his words, solve global warming "city by city, person by person, family by family." (Given this philosophy, making a movie is odd, but let's not quibble with details.)

He presents himself as engaged, thoughtful, intelligent, committed. He is, in his film, all the things that President Bush is not. And, lest we forget that he is not President Bush, he shows us video footage of the 2000 election.

Problems from 2000

Some major criticisms of the Vice President's presidential campaign (in 2000, not in '88 or '92 -- he likes to run) were that he was a member of the Washington establishment, that no one knew his personal story, and that he was stiff, a man with no passion. He deals with all these.

We learn that, although his father was a respected United States Senator, he owned and operated a farm on which the young Gore worked -- that is, apart from the eight months of the year Gore spent living in a Washington hotel with the children of other congressmen. Yes, he spent the remaining four in nature on the family farm where he found it difficult to "distinguish between work and play" and where he could "shoot his rifle." Not exactly what a member of the establishment would do. The Vice President also takes some advice from President Carter's carrying his own suitcase and President Ford's making his own breakfast: he shows himself removing his shoes, his belt, and going through an airport metal detector. He shows himself driving his own car. Maybe he is just like you and me? Maybe.

His tells his personal story. We learn of his young son's nearly fatal accident and of his sister's tragic death from lung cancer. The death of his son compelled him to dedicate his life to a higher purpose (solving global warming), and his sister's death showed him that there are elements of society which will kill others rather than admit the truth about the danger of their products.

And he has passion, declaring, with respect to global warming: "I believe this is a moral issue." He shows himself to have been disillusioned that, in our democracy, the persuasiveness of his science-based opinions did not compel the public and the Congress to act during the 1980s. (One wonders how he was still able to serve in our broken Congress.) In fact, he shows himself to have been passionate about the fact that the world will end tomorrow since the beginning of his political career in the '70s.

Politics
The Vice President is not above politics, shamelessly reminding America of our pledge to never let another September the 11th happen again while telling us that the continued burning of fossil fuels will find the World Trade Center site under the sea. And he will not allow global warming to cause another Hurricane Katrina. (In case we've forgotten Katrina, the Vice President graciously provided pictures.)

He also opines that, "In America, political will is a renewable resource." In this he is correct, and in this he is genuine. Despite the awkward way in which he presents himself as the anti-Bush, despite the clumsy way he addresses the criticisms of his 2000 campaign, despite him repeating old mistakes (he presents himself as having discovered global warming before nearly anyone else; perhaps this was around the same time that he invented the Internet?) -- despite all these things, an an inconvenient truth for the Republican party is that the Vice President won the popular vote in 2000 when Republicans were much more popular than they are now. An inconvenient truth for the Republicans is that this feeble attempt may be all Al Gore needs to be our 44th president.