Ozan E. Akbas

Love both papers! In our new WP, we show complementarities matter (as FFN argue), yet elasticities remain low (as KY find). Our generalized case explicitly handles complements - low elasticities aren’t purely bias. Could be a step toward common ground. x.com/aoziparis/stat…

Just wrapped up presenting my paper with @aoziparis, "Risk and Return in Asset Demand Systems", at @IIOC_IO in Boston. It was a great opportunity to share our work at the intersection of finance and IO, and get valuable feedback from the community. dx.doi.org/10.2139/ssrn.5…

I have a new IO/metrics paper out, with @borusyak, Kevin Chen, and @lihua_lei_stat. We have some new results on the nonparametric identification of demand counterfactuals with recentered IV We still doing tweet threads here? Ok, here goes...

2️⃣ @ozaneakbas (WBS) will present our paper on asset demand systems in the "Rising Star" session: papers.ssrn.com/sol3/papers.cf… Ozan will also be on the 26–27 market. He’s a very promising scholar doing exciting work in the intersection of finance/IO. Please stop by!

Free, publicly available data on security level holdings of US mutual funds. Clean, ready for research. Very excited about this public good Downloaded it on my laptop. 15GB compressed, 140GB of overall data Lots of open research questions on domestic and cross-border positions

1/18 With President Trump "firing" Fed Governor Lisa Cook, it might be a good time to revisit Türkiye's recent experiment with artificially low rates Hakan Kara and I analyze Türkiye's 2021-2023 policy experiment: @ali_hakan_kara @alihakankaraEng Paper: dropbox.com/scl/fi/ozs83h5…

At @earie_news NOT TO MISS OUT: my great coauthor @HugoMolina_econ will present our paper on Nash-in-Nash bargaining on 30/8 (session Parallel VI). Another great coauthor & student @ozaneakbas will present our paper on demand system asset pricing on 29/8 (session Parallel III).

Recent update on my paper (with @ozaneakbas) on demand-based asset pricing. 4 things that mark the improvements relative to the previous version (comments are welcome!)

📢New working paper with @borusyak: "Optimal Formula Instruments"! We derive the most powerful recentered IVs for treatments given by complex formulas, and propose an algorithm for approximating them in practice This approach yields *huge* power gains, relative to a conventional simulated IV approach, when estimating Medicaid crowdout effects from ACA expansions Check it out! dropbox.com/scl/fi/raxutwq…

New paper with Ao Wang! Investors optimize portfolios, not individual positions. Logit demand systems mute such cross-asset dependencies via the IIA assumption. Our model shows how these links drive heterogeneity in institutional demand - and we can estimate it! Thread below👇

🚨 New Research Alert! 🚨 Excited to share my latest paper with @HugoMolina_econ: Vertical Bargaining under Uncertain Retailer Responsiveness: A Structural Approach. Link: papers.ssrn.com/sol3/papers.cf… 🔑 Highlights:

Happy to share that this paper was just accepted @JEconometrics! It's my and @conlon_chris's 2nd paper tied to our PyBLP software, so here's a thread on surprising (to me) benefits of combining methods research with open source work. 1/6

Mario Draghi's long-awaited report on EU competitiveness is finally out, and it is an alarm bell: the EU is falling behind the US and China on most metrics of growth & competitiveness. A key reason is over-regulation, which puts a massive burden on firms (particularly young ones) and stifles business dynamism. In my recent @J_Fin_Economics article "Quantifying the impact of red tape on investment: A survey data approach" (with G.Zheng) we developed a methodology to estimate the real cost of Red Tape in 7 large European Countries, using enterprise survey data. You can find below a summary on @ProMarket_org promarket.org/2023/10/13/mea… (you can download the study from my webpage in bio)

I’m very happy to share a “new" working paper on the dynamic/learned complementarity that arises between different products. This is joint work with @adamnsmith__ and Max Pachali (@TilburgU) and its been really years in the making! 1/12

👉🏼 CALL for papers! The 4th SASCA PhD Conference in #Economics 2024 will take place in #Venice (Sept 23-24). Submissions in any field in Economics & Finance are welcome by June 15th. Check out the keynote speakers: sites.google.com/view/sassari-v… @CaFoscari @unissTweet @DipEcoUnive

WRDS was cutting off large owners' 13-F holdings one digit early. In addition, 13-F owners are often not the largest -- and definitely not those creating variation. Time for us all to help create ownership data straight from the source. Here is a start: corporateownershipdata.com

“Among articles stating that data was available upon request, only 17% shared data upon request.” psyarxiv.com/jbu9r/

Just as water turns to steam, infinite graphs will suddenly form infinite clusters of connected nodes, undergoing a phase transition. A new proof shows that where such transitions take place can be determined by looking at only part of a graph. quantamagazine.org/a-close-up-vie…

Happy Holidays #EconTwitter. I just published my Structural Estimation lectures (with text, code, and exercises) from my time @uchicago, @BeckerFriedman, and @UChi_CompSocSci as section of my new online @jupyterbook @ExecutableBooks entitled, "Computational Methods for Economists using Python". opensourceecon.github.io/CompMethods/ The key chapters are: - Maximum likelihood estimation: opensourceecon.github.io/CompMethods/st… - Generalized method of moments estimation: opensourceecon.github.io/CompMethods/st… - Simulated method of moments estimation: opensourceecon.github.io/CompMethods/st… @comp_simon @MarlonAzinovic @john_stachurski @QuantEcon

🇬🇧 @TheFCA announces plans to mandate lenders to share credit information with credit bureaus. Good news! fca.org.uk/publications/m… And topical as my job market paper shows how non-mandated sharing of credit information has broken down in 🇺🇸 💳😉 benedictgk.com