Florian Ederer
@florianederer.bsky.social
Austrian 🇦🇹
Economist 📈
Not an Austrian Economist
Allen & Kelli Questrom Professor
BU Questrom, NBER, ECGI & NBER
https://florianederer.github.io/
Economist 📈
Not an Austrian Economist
Allen & Kelli Questrom Professor
BU Questrom, NBER, ECGI & NBER
https://florianederer.github.io/
Coupling this, fertility that.
Why don't you academics actually do something about it?!? 😂
Why don't you academics actually do something about it?!? 😂
November 9, 2025 at 1:43 PM
Coupling this, fertility that.
Why don't you academics actually do something about it?!? 😂
Why don't you academics actually do something about it?!? 😂
Hades II is amazing. There are nods to both Lattimore's and Wilson's Odyssey translations.
Lattimore: “Tell me, Muse, of the man of many ways…”
Wilson: “Tell me about a complicated man…”
Hades II: “Some know him as the man of many ways; certainly he is a complicated one.”
Lattimore: “Tell me, Muse, of the man of many ways…”
Wilson: “Tell me about a complicated man…”
Hades II: “Some know him as the man of many ways; certainly he is a complicated one.”
November 4, 2025 at 11:08 PM
Hades II is amazing. There are nods to both Lattimore's and Wilson's Odyssey translations.
Lattimore: “Tell me, Muse, of the man of many ways…”
Wilson: “Tell me about a complicated man…”
Hades II: “Some know him as the man of many ways; certainly he is a complicated one.”
Lattimore: “Tell me, Muse, of the man of many ways…”
Wilson: “Tell me about a complicated man…”
Hades II: “Some know him as the man of many ways; certainly he is a complicated one.”
In 1983, households aged 75+ were 5% richer than the average. In 2022, they were 55% richer.
Meanwhile, under-35 households went from 21% of average wealth to just 16%.
America’s wealth is aging way faster than its population.
www.nber.org/digest/20251...
Meanwhile, under-35 households went from 21% of average wealth to just 16%.
America’s wealth is aging way faster than its population.
www.nber.org/digest/20251...
November 4, 2025 at 3:58 PM
In 1983, households aged 75+ were 5% richer than the average. In 2022, they were 55% richer.
Meanwhile, under-35 households went from 21% of average wealth to just 16%.
America’s wealth is aging way faster than its population.
www.nber.org/digest/20251...
Meanwhile, under-35 households went from 21% of average wealth to just 16%.
America’s wealth is aging way faster than its population.
www.nber.org/digest/20251...
BU Questrom is launching a new PhD Program in Business Economics focused on how markets and firms interact with public policy.
Graduates will be ready for research and teaching roles in both business schools and econ departments.
Graduates will be ready for research and teaching roles in both business schools and econ departments.
October 24, 2025 at 2:15 PM
BU Questrom is launching a new PhD Program in Business Economics focused on how markets and firms interact with public policy.
Graduates will be ready for research and teaching roles in both business schools and econ departments.
Graduates will be ready for research and teaching roles in both business schools and econ departments.
Firms began taking longer to complete trials and waited to start new ones, especially when competitors’ results were about to be released.
They also reduced the number of trial sites by about half, becoming more cautious as other firms' data became public.
They also reduced the number of trial sites by about half, becoming more cautious as other firms' data became public.
October 16, 2025 at 11:36 AM
Firms began taking longer to complete trials and waited to start new ones, especially when competitors’ results were about to be released.
They also reduced the number of trial sites by about half, becoming more cautious as other firms' data became public.
They also reduced the number of trial sites by about half, becoming more cautious as other firms' data became public.
Transparency helps innovation ... until it doesn't.
My new paper with Cunningham, Hodgson, and Wang (on the JM!) studies the 2017 FDA Final Rule, which required drug firms to publicly disclose all clinical trial results.
Disclosure increased, but innovation slowed.
cowles.yale.edu/sites/defaul...
My new paper with Cunningham, Hodgson, and Wang (on the JM!) studies the 2017 FDA Final Rule, which required drug firms to publicly disclose all clinical trial results.
Disclosure increased, but innovation slowed.
cowles.yale.edu/sites/defaul...
October 16, 2025 at 11:36 AM
Transparency helps innovation ... until it doesn't.
My new paper with Cunningham, Hodgson, and Wang (on the JM!) studies the 2017 FDA Final Rule, which required drug firms to publicly disclose all clinical trial results.
Disclosure increased, but innovation slowed.
cowles.yale.edu/sites/defaul...
My new paper with Cunningham, Hodgson, and Wang (on the JM!) studies the 2017 FDA Final Rule, which required drug firms to publicly disclose all clinical trial results.
Disclosure increased, but innovation slowed.
cowles.yale.edu/sites/defaul...
Do incumbents buy startups to scale innovation or to stifle it?
New research covering 60 countries finds that acquired startups were highly innovative before their acquisition, but their patenting drops sharply afterward, while acquirers' innovation doesn't rise.
www.oecd.org/en/publicati...
New research covering 60 countries finds that acquired startups were highly innovative before their acquisition, but their patenting drops sharply afterward, while acquirers' innovation doesn't rise.
www.oecd.org/en/publicati...
October 14, 2025 at 4:48 PM
Do incumbents buy startups to scale innovation or to stifle it?
New research covering 60 countries finds that acquired startups were highly innovative before their acquisition, but their patenting drops sharply afterward, while acquirers' innovation doesn't rise.
www.oecd.org/en/publicati...
New research covering 60 countries finds that acquired startups were highly innovative before their acquisition, but their patenting drops sharply afterward, while acquirers' innovation doesn't rise.
www.oecd.org/en/publicati...
Private credit has exploded. But why?
It's not just replacing banks. It's also private equity's new frontier:
BDCs now blend debt and equity, offer PE-like returns with less risk, and cater to a growing base of retail investors.
melaniewallskog.github.io/files/robins...
It's not just replacing banks. It's also private equity's new frontier:
BDCs now blend debt and equity, offer PE-like returns with less risk, and cater to a growing base of retail investors.
melaniewallskog.github.io/files/robins...
October 14, 2025 at 4:32 PM
Private credit has exploded. But why?
It's not just replacing banks. It's also private equity's new frontier:
BDCs now blend debt and equity, offer PE-like returns with less risk, and cater to a growing base of retail investors.
melaniewallskog.github.io/files/robins...
It's not just replacing banks. It's also private equity's new frontier:
BDCs now blend debt and equity, offer PE-like returns with less risk, and cater to a growing base of retail investors.
melaniewallskog.github.io/files/robins...
Richly deserved prize for Aghion ...
... but I am equally interested in the paintings and the designer chair in the background.
Top and bottom left look like late Cubist (Bracque, Gris, Picasso). Far right looks like a Miro. No idea about the chair.
... but I am equally interested in the paintings and the designer chair in the background.
Top and bottom left look like late Cubist (Bracque, Gris, Picasso). Far right looks like a Miro. No idea about the chair.
October 13, 2025 at 3:11 PM
Richly deserved prize for Aghion ...
... but I am equally interested in the paintings and the designer chair in the background.
Top and bottom left look like late Cubist (Bracque, Gris, Picasso). Far right looks like a Miro. No idea about the chair.
... but I am equally interested in the paintings and the designer chair in the background.
Top and bottom left look like late Cubist (Bracque, Gris, Picasso). Far right looks like a Miro. No idea about the chair.
Dating your boss comes with risks and rewards.
New research from Finland shows subordinatesä earnings rise 6% after starting a relationship with their manager but fall 18% after a breakup.
Unsurprisingly, it also hurts team morale and retention.
www.nber.org/papers/w34346
New research from Finland shows subordinatesä earnings rise 6% after starting a relationship with their manager but fall 18% after a breakup.
Unsurprisingly, it also hurts team morale and retention.
www.nber.org/papers/w34346
October 13, 2025 at 2:23 PM
Dating your boss comes with risks and rewards.
New research from Finland shows subordinatesä earnings rise 6% after starting a relationship with their manager but fall 18% after a breakup.
Unsurprisingly, it also hurts team morale and retention.
www.nber.org/papers/w34346
New research from Finland shows subordinatesä earnings rise 6% after starting a relationship with their manager but fall 18% after a breakup.
Unsurprisingly, it also hurts team morale and retention.
www.nber.org/papers/w34346
Why do people support tariffs even when they make everyone poorer?
It's not just economics, it's jealousy of trade. People prefer protectionism when it feels like a win over others, even if it raises their own prices.
www.nber.org/papers/w34351
It's not just economics, it's jealousy of trade. People prefer protectionism when it feels like a win over others, even if it raises their own prices.
www.nber.org/papers/w34351
October 13, 2025 at 2:16 PM
Why do people support tariffs even when they make everyone poorer?
It's not just economics, it's jealousy of trade. People prefer protectionism when it feels like a win over others, even if it raises their own prices.
www.nber.org/papers/w34351
It's not just economics, it's jealousy of trade. People prefer protectionism when it feels like a win over others, even if it raises their own prices.
www.nber.org/papers/w34351
Research output after tenure drops off a cliff for business, economics, sociology, and other non-lab fields.
But it remains high post-tenure in lab-based fields such as chemistry, physics, computer science, and engineering.
www.pnas.org/doi/epdf/10....
But it remains high post-tenure in lab-based fields such as chemistry, physics, computer science, and engineering.
www.pnas.org/doi/epdf/10....
October 3, 2025 at 5:18 PM
Research output after tenure drops off a cliff for business, economics, sociology, and other non-lab fields.
But it remains high post-tenure in lab-based fields such as chemistry, physics, computer science, and engineering.
www.pnas.org/doi/epdf/10....
But it remains high post-tenure in lab-based fields such as chemistry, physics, computer science, and engineering.
www.pnas.org/doi/epdf/10....
When NBA rookies land on stacked teams, they get less playing time, less visibility, and lower long-term earnings.
Early exposure matters for careers.
Early exposure matters for careers.
October 3, 2025 at 4:43 PM
When NBA rookies land on stacked teams, they get less playing time, less visibility, and lower long-term earnings.
Early exposure matters for careers.
Early exposure matters for careers.
Today’s firearm ownership in the US is partly rooted in frontier history.
Counties with longer exposure to the frontier from 1790 to 1890 have higher gun ownership today and respond more strongly to demand shocks.
arosenbe.github.io/assets/paper...
Counties with longer exposure to the frontier from 1790 to 1890 have higher gun ownership today and respond more strongly to demand shocks.
arosenbe.github.io/assets/paper...
October 1, 2025 at 9:52 PM
Today’s firearm ownership in the US is partly rooted in frontier history.
Counties with longer exposure to the frontier from 1790 to 1890 have higher gun ownership today and respond more strongly to demand shocks.
arosenbe.github.io/assets/paper...
Counties with longer exposure to the frontier from 1790 to 1890 have higher gun ownership today and respond more strongly to demand shocks.
arosenbe.github.io/assets/paper...
U.S. regions more exposed to AI saw faster emissions growth, more reliance on fossil fuels, and dirtier electricity generation.
cepr.org/publications...
cepr.org/publications...
October 1, 2025 at 2:43 PM
U.S. regions more exposed to AI saw faster emissions growth, more reliance on fossil fuels, and dirtier electricity generation.
cepr.org/publications...
cepr.org/publications...
Collusion doesn't just happen in smoke-filled rooms. It can be out in the open in earnings calls.
New research uses NLP on 300k+ transcripts to spot the language that firms use to coordinate publicly. Regulators can use this tool to detect anticompetitive behavior.
papers.ssrn.com/sol3/papers....
New research uses NLP on 300k+ transcripts to spot the language that firms use to coordinate publicly. Regulators can use this tool to detect anticompetitive behavior.
papers.ssrn.com/sol3/papers....
September 24, 2025 at 2:42 PM
Collusion doesn't just happen in smoke-filled rooms. It can be out in the open in earnings calls.
New research uses NLP on 300k+ transcripts to spot the language that firms use to coordinate publicly. Regulators can use this tool to detect anticompetitive behavior.
papers.ssrn.com/sol3/papers....
New research uses NLP on 300k+ transcripts to spot the language that firms use to coordinate publicly. Regulators can use this tool to detect anticompetitive behavior.
papers.ssrn.com/sol3/papers....
We usually rely on GDP, trade, or wages to study the past. This amazing paper flips the script.
It analyzes 630,000 paintings (1400-2000) to extract emotions and shows how art tracks living standards, wars, inequality, and even climate shocks.
(How is this economics? Everything is economics!)
It analyzes 630,000 paintings (1400-2000) to extract emotions and shows how art tracks living standards, wars, inequality, and even climate shocks.
(How is this economics? Everything is economics!)
September 3, 2025 at 9:37 PM
We usually rely on GDP, trade, or wages to study the past. This amazing paper flips the script.
It analyzes 630,000 paintings (1400-2000) to extract emotions and shows how art tracks living standards, wars, inequality, and even climate shocks.
(How is this economics? Everything is economics!)
It analyzes 630,000 paintings (1400-2000) to extract emotions and shows how art tracks living standards, wars, inequality, and even climate shocks.
(How is this economics? Everything is economics!)
Nascent competition, killer acquisitions, acquihires — join Meghan Rissmiller, Michaela Spero, Rahul Rao, and me for an American Bar Association Antitrust seminar on how innovation competition should be accounted for in merger control.
September 10
12-1pm
www.americanbar.org/events-cle/m...
September 10
12-1pm
www.americanbar.org/events-cle/m...
August 22, 2025 at 2:02 PM
Nascent competition, killer acquisitions, acquihires — join Meghan Rissmiller, Michaela Spero, Rahul Rao, and me for an American Bar Association Antitrust seminar on how innovation competition should be accounted for in merger control.
September 10
12-1pm
www.americanbar.org/events-cle/m...
September 10
12-1pm
www.americanbar.org/events-cle/m...
Great in-depth piece on the Texas v. BlackRock common ownership lawsuit
www.mlex.com/mlex/article...
www.mlex.com/mlex/article...
August 13, 2025 at 8:50 AM
Great in-depth piece on the Texas v. BlackRock common ownership lawsuit
www.mlex.com/mlex/article...
www.mlex.com/mlex/article...
Who is Maurice R. Greenberg?!?
July 30, 2025 at 6:58 PM
Who is Maurice R. Greenberg?!?
The government collects tariff revenue equal to c+e, which is the tariff t times imports M₂=D₂-S₂.
The net effect on national welfare is e-(b+d), which can be positive if e is sufficiently large.
How large e is depends on how much market power the US has (Pᵂ goes to P*).
The net effect on national welfare is e-(b+d), which can be positive if e is sufficiently large.
How large e is depends on how much market power the US has (Pᵂ goes to P*).
July 30, 2025 at 6:14 AM
The government collects tariff revenue equal to c+e, which is the tariff t times imports M₂=D₂-S₂.
The net effect on national welfare is e-(b+d), which can be positive if e is sufficiently large.
How large e is depends on how much market power the US has (Pᵂ goes to P*).
The net effect on national welfare is e-(b+d), which can be positive if e is sufficiently large.
How large e is depends on how much market power the US has (Pᵂ goes to P*).
US demand falls from D₁ to D₂, US domestic supply rises from S₁ to S₂, and imports shrink from M₁ to M₂.
Consumers buy less at a higher price so their surplus falls by the area a+b+c+d. Domestic producers benefit from higher prices and gain a.
Consumers buy less at a higher price so their surplus falls by the area a+b+c+d. Domestic producers benefit from higher prices and gain a.
July 30, 2025 at 6:14 AM
US demand falls from D₁ to D₂, US domestic supply rises from S₁ to S₂, and imports shrink from M₁ to M₂.
Consumers buy less at a higher price so their surplus falls by the area a+b+c+d. Domestic producers benefit from higher prices and gain a.
Consumers buy less at a higher price so their surplus falls by the area a+b+c+d. Domestic producers benefit from higher prices and gain a.
Without tariffs, the domestic price is at the world market level Pᵂ.
When a large country like the US imposes a tariff, the domestic price rises to P*+t (less than the full tariff t) because the world market price falls to P*. Part of the tariff falls on foreign producers.
When a large country like the US imposes a tariff, the domestic price rises to P*+t (less than the full tariff t) because the world market price falls to P*. Part of the tariff falls on foreign producers.
July 30, 2025 at 6:14 AM
Without tariffs, the domestic price is at the world market level Pᵂ.
When a large country like the US imposes a tariff, the domestic price rises to P*+t (less than the full tariff t) because the world market price falls to P*. Part of the tariff falls on foreign producers.
When a large country like the US imposes a tariff, the domestic price rises to P*+t (less than the full tariff t) because the world market price falls to P*. Part of the tariff falls on foreign producers.
How can tariffs improve welfare? Your country needs market power.
A quick explainer below 👇🏻
A quick explainer below 👇🏻
July 30, 2025 at 6:14 AM
How can tariffs improve welfare? Your country needs market power.
A quick explainer below 👇🏻
A quick explainer below 👇🏻
Happy 4th of July to you all! 🇺🇸🎹🎶🎆
July 4, 2025 at 2:39 PM
Happy 4th of July to you all! 🇺🇸🎹🎶🎆