Arpit Gupta
@arpitrage
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Associate Professor of Finance, @NYUStern. Finance/Real Estate/Urban newsletter: https://t.co/lWVJvq6vKg.
Manhattan, NY
Joined September 2015
📢Heavily revised working paper on AI + Zoning — . with @AlexBartik and @DMilo75, we have a new draft of our paper which expands on our method to understand housing regulations with AI. Incudes a new public data release with more housing regulation data:
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RT @EricTopol: A randomized trial of eye care by ophthalmologists with A.I. vs ophthalmologists without A.I. demonstrated much higher accu….
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The “lawyer vs engineer” frame for China misses that China’s outcomes follow closely the East Asian developmental model pioneered by many other countries. Japan for instance was the first growth success story, and has many lawyers in leadership.
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“New York’s share of the nation’s millionaires fell from 12.7% in 2010 to 8.7% in 2022”.
Millionaires are critical to NY’s tax base—Paid $34 billion in NYS and NYC taxes in 2022. Less than 1% of filers but >44% of personal income tax revenue. @nytimes @matthewhaag.
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RT @Anuraag_Shukla: India is piloting new ease-of-doing-business reforms in leading states like Gujarat, Maharashtra, Tamil Nadu, Karnataka….
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RT @aarmlovi: New: Niskanen Housing's writeup of the Senate Banking megabill 👇. Chair @SenatorTimScott & Ranking Member @SenWarren assemble….
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One market where AI does seem to be displacing human workers is rideshare
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Is asymmetric partisanship dead? Is it now just fully symmetric and strong partisanship? cc @weakinstrument.
Literally 0% of Democrats are satisfied with the direction of the country, and only 25% of independents are.
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Core issue with the rise of populists these days is. - mainstream parties out of step with public opinion on issues like immigration .- social media disrupts gatekeepers and makes it harder to sustain elite viewpoints. Immigration reform which keeps high value migrants seems good.
There is a great retrospective in the WSJ today on how the UK's post-Brexit experiment with big increases in legal immigration went wrong. Their mistakes yield some important policy lessons for supporters *and* critics of skilled immigration. Let's dive in:. (tl;dr: What was
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RT @cojobrien: There is a great retrospective in the WSJ today on how the UK's post-Brexit experiment with big increases in legal immigrati….
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RT @eta_ny: The unnecessary, destructive $17B Penn Expansion is dead for now, and for the right reasons. Through-running service will not….
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Staggered minimum wage increases across Chinese provinces: coming soon to a QJE near you.
1/11.Caixin: "A wave of minimum-wage increases is sweeping across China, with major economic hubs like Beijing and regions such as Hunan province announcing fresh hikes as part of a national push to lift incomes for the country’s lowest-paid workers.".
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Neat website I hadn't seen until now — NYC now & then. You can see the same area over time. ie, Queens in 1924 still had a ton of farmland.
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One downside of this approach is it makes it hard to expand journals. Referees are ultimately driven by a form of NIMBYism, and journal expansion dilutes the value of their existing papers. You always hear editors want more papers but referees resist.
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The main force keeping the peer review system going is a form of value maximizing. Only reason to apply high standards to papers you review is to preserve the value of your published papers, and resentment about your papers which didn't get in.
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Despite all the problems with Turkish monetary policy (ie Alp's paper), the economy surprisingly still seems to be growing quickly, and has almost caught up to Greece. Plausible there are data issues (are migrants counted?), but unclear how much that changes
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:
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Targeting superspeeders is an interesting intervention to lower traffic deaths.
"New York lawmakers are proposing provisions forcing repeat traffic offenders to install ISA systems that cap speed to just 5 MPH over the limit.". NYC "tested ISA on 500 fleet vehicles, and recorded an 82% reduction in speeding on high-speed roads and a 64% overall drop."
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RT @brian_jabarian: AI-generated text is everywhere: hard for orgs to assess human performance. Can we detect it while min false accusation….
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Large lot zoning by contrast, ie the Northeast, can instead remain pretty sticky because it preserves the value of these exclusionary high value suburbs. To get value uplift by upzoning in this context just requires insane density increase which is rare.
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