Haspel’s Washington Post article: Why do taxpayers subsidize rich farmers?

Image from http://www.cgpgrey.com [CC BY 2.0], via Wikimedia Commons Tamar Haspel has an article in yesterday’s Washington Post titled, “Why do taxpayers subsidize rich farmers?” The article is a take on the USDA’s recent report “The Evolving Distribution of Payments From Commodity, Conservation, and Federal Crop Insurance Programs”“, by McFadden and Hoppe that looks at…

Incentives Matter: A Proposal to Speed up Academic Publishing

Publishing in an academic journal is a long and grueling process. But much of the length of time is spent simply waiting for reviewers - who are volunteer and unpaid - to do the hard work of determining contribution and quality of the submitted manuscript. **Edited: Thanks to @FarmerHayek and @AparnaHowlader for pointing me to…

Machine Learning and Econometrics: Model Selection and Assessment Statistical Learning Style

  This is the second in a series of posts where I document my own process in figuring out how machine learning relates to the classic econometrics one learns in a graduate program in economics. Note that I am a humble practitioner of applied econometrics, so the ideas I am working through are not new,…

How does Machine Learning fit into Agricultural Economics?

Photo by Dirk Vorderstraße (Mähdrescher von John Deere in der Warburger Börde) [CC BY 2.0], via Wikimedia Commons Machine learning and artificial intelligence are the biggest topics in tech right now, and the excitement is spilling over to economics. The 2018 ASSA meetings (I did not attend, just browsed the program) had at least five…

Basic Time-Series Analysis: A Drunk and Her Dog Explain Cointegration and the VECM Model

Dogs Image By Peter Wadsworth (Flickr) [CC BY 2.0], via Wikimedia Commons This post is the fifth in a series explaining Basic Time Series Analysis. Click the link to check out the first post which focused on stationarity versus non-stationarity, and to find a list of other topics covered. As a reminder, this post is…