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A long-running survey of how Americans feel about the economy sank to another all-time low — but not just because Democrats are furious at President Trump and his policies.
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Surging gas prices during the war with Iran are hitting some states harder than others, based on location, taxes and even the ingredients used at refineries.
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BESIDES brains, the only tools an economist used to need were a pen and notebook. But massive improvements in computing power have turned the dismal science into an increasingly empirical one. Research by Daniel Hamermesh at Royal Holloway, University of London, finds the share of economics papers in leading journals focused on pure theory fell from 58% in 1983 to 19% in 2011.
Three types of empirical papers have taken their place. The first sort feeds on publicly available data, such as household surveys. The second relies on data from experiments, such as randomised controlled trials. Most leading empirical papers, however, now rely on other data, often administrative and acquired through extensive negotiation with government officials. Analysis by The Economist of work from the National Bureau of Economic Research finds that at least 28 papers it released last year featured the use of administrative data. Before 2000 hardly any did (see...Continue reading
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