In the May 2026 issue: ‘The Trouble with Rational Expectations in Heterogeneous Agent Models: A Challenge for Macroeconomics,’ by Benjamin Moll doi.org/10.1093/ej/ueaf104 @benmoll.bsky.social @resmedia.bsky.social @academic.oup.com #EconSky

New paper: benjaminmoll.com/SRL/

Elsevier has dismissed Richard Tol as editor of the highly successful "Energy Economics". His account of the alleged and the actual reasons casts an even darker shadow over the academic publishing business.

Richard Tol@richardtol.bsky.social · 11mo ago

All is not well at Elsevier richardtol.substack.com/p/fraud-and-...

All is not well at Elsevier richardtol.substack.com/p/fraud-and-...

Fraud and cover-up

Fraud and cover-up

richardtol.substack.com

🆕 The ‘missing intercept’ problem with going from micro to macro Today on VoxDev, @benmoll.bsky.social (LSE) and @olihanney.bsky.social explain the problem with scaling cross-sectional estimates to the aggregate level, and discuss solutions for economists: voxdev.org/topic/method...

The ‘missing intercept’ problem with going from micro to macro

Many applied microeconomics papers conclude with a back-of-the-envelope calculation that scales their cross-sectional estimates to the aggregate level. These types of aggregate estimates are only vali...

voxdev.org

Many of the 'facts' that travel the furthest from economic research are based on a flawed method of scaling cross-sectional estimates to the aggregate. @benmoll.bsky.social and I have written about this 'missing intercept' problem, and what economists can do about it, here ⤵️

VoxDev@voxdev.bsky.social · 11mo ago

🆕 The ‘missing intercept’ problem with going from micro to macro Today on VoxDev, @benmoll.bsky.social (LSE) and @olihanney.bsky.social explain the problem with scaling cross-sectional estimates to the aggregate level, and discuss solutions for economists: voxdev.org/topic/method...

Good to see the FT editorial draw attention to this less well known casualty of the US regime - official statistics on.ft.com/43Tejhn

The White House war on federal statistics

Economists and scientists worry over disappearing data and advisory groups

on.ft.com

Stronger together - support for 🇺🇦 from private individuals, coordinated with @oechssler.bsky.social: 200 people gave at least 200€. Combined with extra donations, the total is about 60.000€. The money is already in Ukraine. Thank you! yourcontributionsquared.eu

According to this @zdfde.bsky.social Politbarometer poll, 76% of Germans are in favour of more defence spending with new debt. This includes 90% of CDU voters, 52% of Die Linke voters and even 70% of FDP voters. A fiscal public opinion revolution.

If one person gives a euro to Ukraine, the result is €1. If two people give 2 each, it is €4. If 3,000 give 3,000 each, it is 9 million. Let’s coordinate, here 👇 and please re-post to spread the word. yourcontributionsquared.eu/en/

SO true. "Oh noes I don't know how we're going to rearm we've only got one of the world's great industrial powerhouses looking for a new growth area whose government can borrow very cheaply, woe is us".

The European Union remains a funny animal. Outside observers: rich place, lots of industry, lower debt levels than US/China. Should be able to rearm quickly and cheaply if they coordinate decision-making. Leaders on the inside: I don’t trust my neighbour so let’s bicker while the house burns down.

To better compare Ukraine aid to defence spending, I turned the @kiel.institute figures into annual % of GDP, using the latest GDP data available and some extrapolation.

Did some of the maths in this week's The @economist.com on EU defence spending and Ukraine aid if America withdraws. Doable, but requires putting a lot of money on the table. www.economist.com/europe/2025/...

Europe will need to pull all the levers to up its defence spending

How to get to 3.5%

economist.com

www.eeassoc.org/news/improvi...

Hey #EconSky Economists for Ukraine (econ4ua.org) drafted an open letter to the future German chancellor. We call for 🇩🇪 & 🇪🇺 to step up & to ⬆️ support for #Ukraine. Please read & sign (if you agree), the form is at the end of ✉️): tinyurl.com/m9ta2b5d Please share this letter with your colleagues.

To: The future German chancellor

To: The future German chancellor From: Economists For Ukraine. Dear Chancellor, Congratulations on taking the helm of the Federal Republic of Germany! You are in a perfect storm, and Germany mus...

tinyurl.com

"In an ironic twist, Germany might end up dependent on EU debt, which it usually opposes, to fund its armed forces [as EU debt does not fall under the debt brake]." My latest for The @economist.com. www.economist.com/finance-and-...

To spend big, Germany’s next government may need EU help

How self-imposed constraints could lead to a bizarre outcome

economist.com

Economists for Ukraine (econ4ua.org) drafted an open letter to the future German chancellor. We call for 🇩🇪 & 🇪🇺 to step up & to ⬆️ support for #Ukraine. Please read & sign (if you agree), the form is at the end of ✉️): tinyurl.com/m9ta2b5d Please share this letter with your colleagues. #UkrainianView

To: The future German chancellor

To: The future German chancellor From: Economists For Ukraine. Dear Chancellor, Congratulations on taking the helm of the Federal Republic of Germany! You are in a perfect storm, and Germany mus...

docs.google.com

@econ4ua.bsky.social is organizing an open letter to the future German chancellor (Germany is holding elections Sunday), urging them to lead and stand up to Russia. docs.google.com/document/d/1...

To: The future German chancellor

To: The future German chancellor From: Economists For Ukraine. Dear Chancellor, Congratulations on taking the helm of the Federal Republic of Germany! You are in a perfect storm, and Germany mus...

docs.google.com

🚨NEW @financialtimes.com investigation reveals evidence that Russian executions of Ukrainian POWs are likely part of a systematic policy. And we uncover the identity of a Russian soldier likely involved in filming and carrying out the mass execution of 6 POWs. 📽️WATCH: www.youtube.com/watch?v=9Muw...

'Film me!’: Russia's executions of Ukrainian POWs points to a policy | FT Film

YouTube video by Financial Times

youtube.com

🎉Congrats to the 126 early-career scientists who have been awarded a Sloan Research Fellowship this year! These exceptional scholars are drawn from 51 institutions across the US and Canada, and represent the next generation of groundbreaking researchers. sloan.org/fellowships/...

Big congrats to this year's Sloan Fellows!

Alfred P. Sloan Foundation@sloanfoundation.bsky.social · last yr.

🎉Congrats to the 126 early-career scientists who have been awarded a Sloan Research Fellowship this year! These exceptional scholars are drawn from 51 institutions across the US and Canada, and represent the next generation of groundbreaking researchers. sloan.org/fellowships/...

@benmoll.bsky.social might have an opinion inspired by his work on rational expectations in HA model (benjaminmoll.com/challenge/) For the one interested, @benmoll.bsky.social will present @igier @bocconi on Tuesday at 4.30pm

I couldn't agree more! The excessive focus on linearized solutions to HA models is a bit like the old joke about the drunk who is looking for a key under a lamppost because that's where the light is. More discussion of why we need non-linear models and ways forward here benjaminmoll.com/challenge/

📢 Kiel goes #MSC2025: Today at 11:15 CET Ethan Ilzetzki presents Kiel Report #2: "Guns and Growth: The Economic Consequences of Defense Buildups" at a press event at HypoVereinsbank (the official venue for everything press)! Join us if you're on site! More 👉 www.ifw-kiel.de/publications...

As I keep saying to German journos: the Finnish foreign minister is a native German speaker. Rare opportunity to get her on radio and TV, as this 👇 really matters.

Minna Ålander 🌻@alanderminna.bsky.social · last yr.

It’s sad to see Germany losing its good image in Finland. And the saddest part was to watch the crash happen and German leadership remaining oblivious to the effect that losing the trust of the loyal small friends will mean to Germany’s standing. It could have been prevented by policy adjustments.

Nichts von den US-Ankündigungen ist besonders überraschend. Aber sie machen einmal mehr deutlich, dass Europa seine Sicherheit selbst organisieren muss, wenn es bestehen will. Die Wiederherstellung von Sicherheit muss unbedingte Priorität der nächsten Bundesregierung sein.

A new #CEPR Policy Insight (w/ @inaganguli.bsky.social , Sasha Talavere and Yuliia Bezvershenko) on science & innovation in #Ukraine: tinyurl.com/msc2tr7a See how co-authorship structure has shifted from 🇷🇺 to 🇵🇱, 🇩🇪, 🇺🇸, etc. These linkages will help rebound/rebuild science in 🇺🇦. #UkrainianView

Please consider signing this letter to Congress and Administration officials raising awareness about the risks facing our federal statistics. Please RT. docs.google.com/forms/d/e/1F...

Statement of Urgency for Federal Economic Statistics

Please use this form to be a signer to this letter to Congress and the Administration conveying the risks to federal economic statistics produced by the Bureau of Economic Analysis (BEA), the Bureau o...

docs.google.com