Great post! I especially liked the part discussing econometric principles relating to this application. For the Hal Singer plot, why not add a logistical term? Since by definition 100 is the largest value that concentration ratio can take, and there seems to be a lot of them for this plot, it doesn’t make much sense to include it with the rest of the points. Then there would be two coefficients, one for 100 four firm concentration ratio and one for the rest, which might be more accurate and descriptive than the current model which may be skewed by the 100 boundary.
The thing is economists should be able to provide solutions that don't affect poor people more than they affect the rich.
Poor people are struggling and corporate margins are rising and the solution you are offering is to make the poor struggle even more? That is a recipe for disaster and is morally questionable. Central bank independence has major advantages but this is not one.
If your politics are actively hurting one group of people more than other, then you need redistributive politics to balance things. Monetary policy don't need congress approval, but fiscal yes so here we are.
Great post! I especially liked the part discussing econometric principles relating to this application. For the Hal Singer plot, why not add a logistical term? Since by definition 100 is the largest value that concentration ratio can take, and there seems to be a lot of them for this plot, it doesn’t make much sense to include it with the rest of the points. Then there would be two coefficients, one for 100 four firm concentration ratio and one for the rest, which might be more accurate and descriptive than the current model which may be skewed by the 100 boundary.
The thing is economists should be able to provide solutions that don't affect poor people more than they affect the rich.
Poor people are struggling and corporate margins are rising and the solution you are offering is to make the poor struggle even more? That is a recipe for disaster and is morally questionable. Central bank independence has major advantages but this is not one.
If your politics are actively hurting one group of people more than other, then you need redistributive politics to balance things. Monetary policy don't need congress approval, but fiscal yes so here we are.