Category Archives: Podcast

Sociology and Social Science with Fabio Rojas

My guest today is Fabio Rojas. He is professor of sociology at Indiana University Bloomington.

Fabio is the author of three books, the first is From Black Power to Black Studies: How a Radical Social Movement Became an Academic Discipline, published in 2007. The second book, coauthored with Michael Heaney, is Party in the Street: The Antiwar Movement and the Democratic Party after 9/11, published in 2015. The third book, Theory for the Working Sociologist, was published just recently in 2017. Continue reading Sociology and Social Science with Fabio Rojas

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Compensating Blood, Fluid, and Organ Donors with Peter Jaworski

My guest is Peter Jaworski of Georgetown University’s McDonough School of Business. He is the author, along with Jason Brennan, of Markets Without Limits.

We recorded this on August 24th, 2017, the same day Peter published an op-ed in the National Post titled “Canada needs blood plasma. We should pay donors to get it.” The op-ed argues in favour of allowing people who donate blood plasma in Canada to be compensated in return: Continue reading Compensating Blood, Fluid, and Organ Donors with Peter Jaworski

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Pepsi, Niche Marketing, and Neoliberal Social Justice with Samuel Hammond

Samuel Hammond is returning to the podcast today to discuss the relationship between capitalism and social justice.

Sam was prompted to write about this by an insensitive Pepsi commercial that caused some controversy in April 2017.

The controversial ad featured generic protesters and Kendall Jenner sharing a Pepsi with police. While the ad was insensitive and more than a little absurd, Sam pointed out that Pepsi has a history of promoting social justice and racial harmony through its marketing. Continue reading Pepsi, Niche Marketing, and Neoliberal Social Justice with Samuel Hammond

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The French Revolution, Property Rights, and the Coase Theorem with Noel Johnson

My guest for this episode is Noel Johnson of George Mason University, and if that name sounds familiar, it’s because he was the coauthor on the paper I discussed with Mark Koyama last month.

Noel recently released a working paper titled “The Effects of Land Redistribution: Evidence from the French Revolution.” It is co-authored with Theresa Finley and Raphael Franck. The paper examines the consequences of the land auctions held by the Revolutionary government in France. The abstract reads as follows:

This study exploits the confiscation and auctioning off of Church property that occurred during the French Revolution to assess the role played by transaction costs in delaying the reallocation of property rights in the aftermath of fundamental institutional reform. French districts with a greater proportion of land redistributed during the Revolution experienced higher levels of agricultural productivity in 1841 and 1852 as well as more investment in irrigation and more efficient land use. We trace these increases in productivity to an increase in land inequality associated with the Revolutionary auction process. We also show how the benefits associated with the head-start given to districts with more Church land initially, and thus greater land redistribution by auction during the Revolution, dissipated over the course of the nineteenth century as other districts gradually overcame the transaction costs associated with reallocating the property rights associated with the feudal system.

Continue reading The French Revolution, Property Rights, and the Coase Theorem with Noel Johnson

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The Seattle Minimum Wage Study with Ekaterina Jardim

My guest for this episode is Ekaterina Jardim of the University of Washington. Ekaterina is one of the authors of the new minimum wage study that has been making headlines recently, “Minimum Wage Increases, Wages, and Low-Wage Employment: Evidence from Seattle.” One reason this study is so interesting is that it was funded by the City of Seattle, which is something that governments aren’t obligated or expected to do when they enact major policy changes like these minimum wage hikes.

There was a broad theoretical and empirical consensus in the 1980s that higher minimum wages have disemployment effects on the low skilled, and then Card and Krueger (1994) started a new empirical literature that found no evidence of disemployment effects. Continue reading The Seattle Minimum Wage Study with Ekaterina Jardim

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Housing, Liquidity, and Closed-Access Cities with Kevin Erdmann

My guest today is Kevin Erdmann, he blogs about economics and finance at Idiosyncratic Whisk.

Kevin has written a ton about housing, as evidenced by the titles of his blog posts. A recent one is labeled Housing: Part 239. This series is part of a larger book project that Kevin is publically drafting on his blog.

We discuss the housing bubble of the 2000s and the post-2008 housing market. I took my first undergraduate economics class in 2008, just as the financial crisis was beginning, so there’s never been a time in my economics career when people weren’t talking about this. And yet, I still have so much to learn!

Kevin makes an interesting distinction between “open-access cities” and “closed-access cities.” Closed-access cities are places like San Francisco, New York, and San Jose that have restricted their housing supplies. Open-access cities are places like Houston and Phoenix with more elastic housing supplies. We talk about these factors and how they relate to the housing boom and bust, liquidity, and central bank policy.

Kevin points out that supply side restrictions on housing construction are necessary for demand-side factors to cause housing bubbles. That’s because in a market with an elastic housing supply, more demand doesn’t result in higher prices, it just causes more homes to be built.


Related links:

Liquidity is a Public Good

Credit supply, housing supply, and financial crises

 

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The Financial Diaries with Jonathan Morduch

The guest for this episode is Jonathan Morduch, he is a professor of public policy and economics at NYU and the author of The Financial Diaries: How American Families Cope in a World of Uncertainty, co-authored with Rachel Schneider.

The book looks at the financial situations of ordinary American families. It is centered around a detailed survey of 235 households where they recorded what they earned and what they spent at an extremely granular level. Continue reading The Financial Diaries with Jonathan Morduch

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Replicating Anomalies in Financial Markets with Hou, Xue, and Zhang

In this episode, I have three guests on the show with me: Kewei Hou of Ohio State University, Chen Xue of the University of Cincinnati, and Lu Zhang of Ohio State University.

Kewei, Chen, and Lu have coauthored a paper titled “Replicating Anomalies,” a large-scale replication study that re-tests hundreds of so-called “anomalies” in financial markets. An anomaly is a predictable pattern in stock returns, or stated differently, it is a deviation from the efficient markets hypothesis. Continue reading Replicating Anomalies in Financial Markets with Hou, Xue, and Zhang

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Synthetic Control and the Impact of Hugo Chavez with Kevin B. Grier

My guest on this episode is Kevin B. Grier of the University of Oklahoma.

Our topic for today is a paper Kevin wrote on the economic consequences of Hugo Chavez along with coauthor Norman Maynard.

I had Francisco Toro on the show last year to discuss Venezuela’s economic history, so you can listen to that episode if you want a refresher on Chavez. For this episode, our main topic is the empirical method Kevin used to quantify Chavez’ effect on Venezuela: synthetic control. Continue reading Synthetic Control and the Impact of Hugo Chavez with Kevin B. Grier

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