Toni Whited 😷
@toniwhited.bsky.social
Economics prof at the U. of Michigan. Editor, Journal of Financial Economics. Corporate finance, structural estimation. One-handed pull-ups, cooking, languages, stop harassing me about the mask. https://lsa.umich.edu/econ/people/faculty/toni-whited.html
rodneywhitecenter.wharton.upenn.edu/2025-summer-...
12 more days to apply to our summer school in structural estimation! It's a hands-on course in which you learn how to do SMM and then work on a problem set with your classmates. Open to PhD students in finance, accounting, econ. And faculty.
12 more days to apply to our summer school in structural estimation! It's a hands-on course in which you learn how to do SMM and then work on a problem set with your classmates. Open to PhD students in finance, accounting, econ. And faculty.
2025 Summer School on Structural Estimation in Corporate Finance
rodneywhitecenter.wharton.upenn.edu
March 5, 2025 at 2:13 PM
rodneywhitecenter.wharton.upenn.edu/2025-summer-...
12 more days to apply to our summer school in structural estimation! It's a hands-on course in which you learn how to do SMM and then work on a problem set with your classmates. Open to PhD students in finance, accounting, econ. And faculty.
12 more days to apply to our summer school in structural estimation! It's a hands-on course in which you learn how to do SMM and then work on a problem set with your classmates. Open to PhD students in finance, accounting, econ. And faculty.
I was today old when I learned that there are two camps of people who use LaTeX. Those who tolerate a gazillion errors as long as the pdf looks OK, and those who like zero errors.
HOW CAN PEOPLE LIVE WITH A GAZILLION LATEX ERRORS It's just not that hard to learn enough LaTeX to make it work right.
HOW CAN PEOPLE LIVE WITH A GAZILLION LATEX ERRORS It's just not that hard to learn enough LaTeX to make it work right.
February 26, 2025 at 2:24 PM
I was today old when I learned that there are two camps of people who use LaTeX. Those who tolerate a gazillion errors as long as the pdf looks OK, and those who like zero errors.
HOW CAN PEOPLE LIVE WITH A GAZILLION LATEX ERRORS It's just not that hard to learn enough LaTeX to make it work right.
HOW CAN PEOPLE LIVE WITH A GAZILLION LATEX ERRORS It's just not that hard to learn enough LaTeX to make it work right.
Greatest email from a student:
"Now I get why you taught us about good replication practices - they are really important."
"Now I get why you taught us about good replication practices - they are really important."
February 23, 2025 at 7:14 PM
Greatest email from a student:
"Now I get why you taught us about good replication practices - they are really important."
"Now I get why you taught us about good replication practices - they are really important."
Luke Taylor, Stephen Terry, and I are doing it again. This will be the 5th structural summer school in finance. We do not just teach papers. We teach techniques, and then we have students work on a problem set. Please get your students to apply.
rodneywhitecenter.wharton.upenn.edu/2025-summer-...
rodneywhitecenter.wharton.upenn.edu/2025-summer-...
2025 Summer School on Structural Estimation in Corporate Finance
rodneywhitecenter.wharton.upenn.edu
February 4, 2025 at 6:56 PM
Luke Taylor, Stephen Terry, and I are doing it again. This will be the 5th structural summer school in finance. We do not just teach papers. We teach techniques, and then we have students work on a problem set. Please get your students to apply.
rodneywhitecenter.wharton.upenn.edu/2025-summer-...
rodneywhitecenter.wharton.upenn.edu/2025-summer-...
Well, this got accepted at the RFS a while back, but I've been avoiding social media, so I didn't post about it. My coauthor, Li He, was the brains here. We are looking at the interaction between relative performance evaluation and competition.
papers.ssrn.com/sol3/papers....
papers.ssrn.com/sol3/papers....
Relative Performance Evaluation and Strategic Competition
We examine how relative performance evaluation (RPE) affects industry competition--a question relevant for corporate boards interested in incentivizing executiv
papers.ssrn.com
February 3, 2025 at 10:43 PM
Well, this got accepted at the RFS a while back, but I've been avoiding social media, so I didn't post about it. My coauthor, Li He, was the brains here. We are looking at the interaction between relative performance evaluation and competition.
papers.ssrn.com/sol3/papers....
papers.ssrn.com/sol3/papers....
A new reason to hate Overleaf. Its grammar checker doesn't know when to use "due to" and "because of."
January 20, 2025 at 6:49 PM
A new reason to hate Overleaf. Its grammar checker doesn't know when to use "due to" and "because of."
Work avoidance behavior for reviewing PhD applications.
January 12, 2025 at 6:00 PM
Work avoidance behavior for reviewing PhD applications.
Just finished teaching the first class of my Econ undergrad course (which is basically an investments course). Love these kiddos. Smart. Good attitudes. So much more fun than in my previous life as a b school prof.
January 9, 2025 at 11:02 PM
Just finished teaching the first class of my Econ undergrad course (which is basically an investments course). Love these kiddos. Smart. Good attitudes. So much more fun than in my previous life as a b school prof.
Reposted by Toni Whited 😷
I have now posted 14 decks of slides covering a lot of DiD materials.
I also want to add a few more decks:
- Triple Differences
- DiD with Continuous Treatment
- Instrumented DiD
- Synthetic DiD and related extensions
- Heterogeneity analysis in DiD
I also want to add more applications to these!
I also want to add a few more decks:
- Triple Differences
- DiD with Continuous Treatment
- Instrumented DiD
- Synthetic DiD and related extensions
- Heterogeneity analysis in DiD
I also want to add more applications to these!
Here are the first five sets of slides:
01 Introduction: psantanna.com/DiD/01_Intro...
02 Classical 2x2 setup: psantanna.com/DiD/02_two_b...
03 Clustering issues: psantanna.com/DiD/03_Clust...
04 Functional form: psantanna.com/DiD/04_Funct...
05 Covariates: psantanna.com/DiD/05_Covar...
01 Introduction: psantanna.com/DiD/01_Intro...
02 Classical 2x2 setup: psantanna.com/DiD/02_two_b...
03 Clustering issues: psantanna.com/DiD/03_Clust...
04 Functional form: psantanna.com/DiD/04_Funct...
05 Covariates: psantanna.com/DiD/05_Covar...
December 31, 2024 at 6:52 PM
I have now posted 14 decks of slides covering a lot of DiD materials.
I also want to add a few more decks:
- Triple Differences
- DiD with Continuous Treatment
- Instrumented DiD
- Synthetic DiD and related extensions
- Heterogeneity analysis in DiD
I also want to add more applications to these!
I also want to add a few more decks:
- Triple Differences
- DiD with Continuous Treatment
- Instrumented DiD
- Synthetic DiD and related extensions
- Heterogeneity analysis in DiD
I also want to add more applications to these!
Please don't just dump important parts of papers into internet appendices to make them appear shorter. Make a coherent, self-contained essay, and then figure out what is ancillary and what is not. Only the ancillary stuff goes in an appendix.
Referees hate LONG papers.
Referees hate LONG papers.
December 30, 2024 at 2:44 PM
Please don't just dump important parts of papers into internet appendices to make them appear shorter. Make a coherent, self-contained essay, and then figure out what is ancillary and what is not. Only the ancillary stuff goes in an appendix.
Referees hate LONG papers.
Referees hate LONG papers.
Reposted by Toni Whited 😷
Rest in peace to Submariner LT James Earl Carter Jr, USN (Ret). Carter, the only U.S. President to graduate from the U.S. Naval Academy, leaves a legacy of service. The USS Jimmy Carter (SSN-23), a Seawolf-class fast-attack submarine, carries his name in honor of his dedication to our nation.
December 29, 2024 at 9:33 PM
Rest in peace to Submariner LT James Earl Carter Jr, USN (Ret). Carter, the only U.S. President to graduate from the U.S. Naval Academy, leaves a legacy of service. The USS Jimmy Carter (SSN-23), a Seawolf-class fast-attack submarine, carries his name in honor of his dedication to our nation.
Burgers and slaw for Xmas dinner. And beer.
December 26, 2024 at 12:10 AM
Burgers and slaw for Xmas dinner. And beer.
Haven't used chatGPT in a while. Its answers have gotten VERY wordy. There must be a LOT of overly verbose garbage on whatever training data it has used.
December 17, 2024 at 4:53 PM
Haven't used chatGPT in a while. Its answers have gotten VERY wordy. There must be a LOT of overly verbose garbage on whatever training data it has used.
Reposted by Toni Whited 😷
#EconSky Price theory à la UCLA taught by Jack Hirshleifer in 1972. His course outline with reading list has been transcribed and posted at Economics in the Rear-view Mirror. www.irwincollier.com/ucla-price-t...
December 10, 2024 at 4:46 PM
#EconSky Price theory à la UCLA taught by Jack Hirshleifer in 1972. His course outline with reading list has been transcribed and posted at Economics in the Rear-view Mirror. www.irwincollier.com/ucla-price-t...
The Puritans. Edward Hopper.
December 7, 2024 at 10:47 PM
The Puritans. Edward Hopper.
Reposted by Toni Whited 😷
The expiration of the TCJA next year will renew debates on whether the federal income tax exemption of municipal bonds should be preserved or eliminated. The exemption subsidizes infrastructure spending at the state/local level with federal taxpayer money. A 🧵:
December 7, 2024 at 10:37 PM
The expiration of the TCJA next year will renew debates on whether the federal income tax exemption of municipal bonds should be preserved or eliminated. The exemption subsidizes infrastructure spending at the state/local level with federal taxpayer money. A 🧵:
Reposted by Toni Whited 😷
Still N95 masking.
Still lugging around air cleaners.
Still monitoring CO2 levels.
Still advocating for improved indoor air quality on campus because clean air is an accessibility issue.
Still lugging around air cleaners.
Still monitoring CO2 levels.
Still advocating for improved indoor air quality on campus because clean air is an accessibility issue.
December 6, 2024 at 8:19 PM
Still N95 masking.
Still lugging around air cleaners.
Still monitoring CO2 levels.
Still advocating for improved indoor air quality on campus because clean air is an accessibility issue.
Still lugging around air cleaners.
Still monitoring CO2 levels.
Still advocating for improved indoor air quality on campus because clean air is an accessibility issue.
Reposted by Toni Whited 😷
1/ Does finance benefit society? 📈📉 In a forthcoming Review of Financial Studies paper, @mjha91.bsky.social , Hongyi Liu, and yours truly tackle this question by leveraging large language models to measure sentiments in books spanning centuries and continents. 🧵
December 3, 2024 at 5:32 PM
1/ Does finance benefit society? 📈📉 In a forthcoming Review of Financial Studies paper, @mjha91.bsky.social , Hongyi Liu, and yours truly tackle this question by leveraging large language models to measure sentiments in books spanning centuries and continents. 🧵
I dislike Overleaf intensely. It's made for people with young eyes. They won't fix the font problem. What's with that? People over 40 don't know LaTeX? No dates on file names. Need to use the internet. Otherwise, you use a workaround, which latex editors do anyway. Sharing is the only good part.
With @overleaf.com down, here's a quick tip to keep working.
If you're already syncing overleaf with Dropbox, you can still find your files in Dropbox/Apps/Overleaf
Install the latex extension in vscode or download an editor like texstudio.
Should take 15 mins or less to get set up! #econsky
If you're already syncing overleaf with Dropbox, you can still find your files in Dropbox/Apps/Overleaf
Install the latex extension in vscode or download an editor like texstudio.
Should take 15 mins or less to get set up! #econsky
December 3, 2024 at 2:40 PM
I dislike Overleaf intensely. It's made for people with young eyes. They won't fix the font problem. What's with that? People over 40 don't know LaTeX? No dates on file names. Need to use the internet. Otherwise, you use a workaround, which latex editors do anyway. Sharing is the only good part.
Not quite right. Fee is 850 (up from July). Below predecessor's 1K. No fee for resubmissions, so we reward good papers. Most of the fee goes toward paying referees, and they get paid for resubmissions too. That's the main reason we are fast. Note: disagreement \ne statement of superiority.
1/The initial JFE submission fee is $750. Not sure if that sends the right message. You might argue that this filters out bad papers, but desk-reject is very low cost. Also, note that a successful paper doesn't get a submission fee refund. Another way in which Elsevier bilks us. But...
JFE turnaround stats for the last 6 months. We are so much faster than the other journals. There's the occasional errant referee, but overall, we are really fast. We give the referees 28 days, and the editors do not leave the papers on their desks for weeks and months.
December 1, 2024 at 5:50 PM
Not quite right. Fee is 850 (up from July). Below predecessor's 1K. No fee for resubmissions, so we reward good papers. Most of the fee goes toward paying referees, and they get paid for resubmissions too. That's the main reason we are fast. Note: disagreement \ne statement of superiority.
JFE turnaround stats for the last 6 months. We are so much faster than the other journals. There's the occasional errant referee, but overall, we are really fast. We give the referees 28 days, and the editors do not leave the papers on their desks for weeks and months.
December 1, 2024 at 3:59 PM
JFE turnaround stats for the last 6 months. We are so much faster than the other journals. There's the occasional errant referee, but overall, we are really fast. We give the referees 28 days, and the editors do not leave the papers on their desks for weeks and months.
It's job market season, so we do mock interviews with our PhD candidates. I tried something new: having my students interview me about my paper. This lets them see how it works and lets me demo how to avoid mistakes like droning on and on or not listening to questions or going off on tangents.
November 30, 2024 at 6:52 PM
It's job market season, so we do mock interviews with our PhD candidates. I tried something new: having my students interview me about my paper. This lets them see how it works and lets me demo how to avoid mistakes like droning on and on or not listening to questions or going off on tangents.
This also applies to talking to otherwise smart family members. Sigh.
One thing about teaching economics is that students don’t start at zero – they start at negative two, what with all the bizarre misconceptions that are circulating #TeachEcon
November 29, 2024 at 6:20 PM
This also applies to talking to otherwise smart family members. Sigh.
Reposted by Toni Whited 😷
Wow. Here is one to brighten up your morning. The first images of the restored interior of Notre Dame cathedral. Breathtaking. In just five years France did it
November 29, 2024 at 8:08 AM
Wow. Here is one to brighten up your morning. The first images of the restored interior of Notre Dame cathedral. Breathtaking. In just five years France did it