Jacopo Mazza
@jacopomazza.bsky.social
Assistant prof. of economics at Utrecht University. Labor, migration, education, pizzas, and Ac Milan.
https://jacopoto.github.io/
https://jacopoto.github.io/
Ah yes you’re right. Well in a sense, better
October 30, 2025 at 1:32 PM
Ah yes you’re right. Well in a sense, better
You mean no majority in the eerste kamer?
October 30, 2025 at 7:18 AM
You mean no majority in the eerste kamer?
Why not D66/CDA/VVD/Ja21?
October 30, 2025 at 5:16 AM
Why not D66/CDA/VVD/Ja21?
Why the hunching? Have you tried a tablet plus pen?
March 26, 2025 at 8:49 PM
Why the hunching? Have you tried a tablet plus pen?
Reposted by Jacopo Mazza
Hi @khoavuumn.bsky.social , you might like my JMP thread? Thanks for all the great memes! bsky.app/profile/simo...
📯 Job Market Paper Alert 📯
Private businesses make up 50% of sales & profits and are the main wealth component of the wealthiest households. So, what is their value? Well, that's difficult, since they're not listed: their value is unobservable by definition!
My #EconJMP tackles this problem 1/
Private businesses make up 50% of sales & profits and are the main wealth component of the wealthiest households. So, what is their value? Well, that's difficult, since they're not listed: their value is unobservable by definition!
My #EconJMP tackles this problem 1/
![Robust Estimation of Private Business Wealth*
Job Market Paper
Simon J. Toussaint†
November 14, 2024
[Most recent version here]
Abstract
Estimating the market value of private businesses is essential for understanding both aggregate firm dynamics and top wealth
inequality, yet these values are inherently unobservable. This paper introduces an econometric approach that treats the gap
between true market values and initial estimates as measurement error. I employ time-series restrictions on these errors as
moment conditions within a GMM framework, and use the fitted values from these estimations as error-free estimates of
private business wealth and capital stocks. Applying this method to Dutch administrative data linking the universe of firms
to their owners, I find that aggregate private business wealth increases by 30% of GDP initially, and is more stable than the
unadjusted series. Top 1% and 0.1% wealth shares increase by 3–5 percentage points, peaking at 38% and 20%, respectively.
Adjusted returns to firm wealth exhibit a steeper gradient across the wealth distribution than unadjusted returns, consistent
with models of return heterogeneity.](https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:wus4g34bpbzjefp547irpkeu/bafkreibg34g2k7zwmjqytkllrcxfsj5tnov22hdny74qz7ks5jwa5csbou@jpeg)
November 15, 2024 at 10:52 AM
Hi @khoavuumn.bsky.social , you might like my JMP thread? Thanks for all the great memes! bsky.app/profile/simo...
November 12, 2024 at 8:35 AM