
Economist at Sciences Po-OFCE, former @UCLA. Research Affiliate @cepr_org. French: @FrancoisGeerolf
Paris, France
Joined August 2009
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François Geerolf #EN retweeted
There has been a quiet uptick in Russian gas imports since Q3 2023.
The Europeans are circumventing their own sanctions.
François Geerolf #EN retweeted
Prediction does not imply understanding. But does understanding imply prediction? That seems to be an implication of falsifiable theories.
François Geerolf #EN retweeted
Germany’s growth outlook is worst of all OECD countries except for Milei’s Argentina.
The energy shock has been downplayed by prominent economists. It is now eroding the industrial core.
Add fiscal tightening and you have the perfect storm.
François Geerolf #EN retweeted
This is German industrial production. The reason Germany avoided recession in 2022, when Russia first invaded Ukraine, is luck: supply chains started working again, giving a one-off boost to car production. That's over and now there is contraction with no end in sight...
François Geerolf #EN retweeted
what is the point of these models?teapawt.net/NicolasGoetzman/status…
ECB - Estimates of R* for the euro area
"While estimates of euro area r* vary widely across a suite of models, the median estimate has risen by about 30 basis points compared with levels prevailing in mid-2019, before the onset of the pandemic"
ecb.europa.eu/pub/economic-b…
François Geerolf #EN retweeted
CHART OF THE DAY: The end of the German industrial might.
Industrial output fell across the board in Dec, with a sharp drop in the energy-intensive sector (red line).
Annual data now shows that German chemical production plunged to a 28-year low.
ICYMY: bloomberg.com/opinion/articl…
François Geerolf #EN retweeted
There's a long history of people (Andrew Mellon during Great Depression) who thought liquidationism* was the path to dynamism.
If anything, the opposite. The GFC, for example, led to a demise in dynamism, which only recovered after running the economy hot following Covid.
We're in the midst of a historic rise in dynamism in the US economy, with new business creation showing a major upturn.
For more:whitehouse.gov/cea/written-m…
François Geerolf #EN retweeted
Now that we have CPI, we have real wages for end-2023; Arin Dube has done the math. Up substantially, both over the year and relative to pre-pandemic, for most workers 1/
François Geerolf #EN retweeted
Best universities in the world, 2024.
1. 🇺🇸 MIT
2. 🇬🇧 Cambridge
3. 🇬🇧 Oxford
4. 🇺🇸 Harvard
5. 🇺🇸 Stanford
6. 🇬🇧 Imperial College London
7. 🇨🇭 ETH Zurich
8. 🇸🇬 National University of Singapore
9. 🇬🇧 UCL
10. 🇺🇸 University of California, Berkeley
(QS World Uni Rankings)
François Geerolf #EN retweeted
Given that everyone knows that BLS shelter indexes lag far behind market rents, surprising that we don't hear more about HICP, which excludes owners' equivalent rent. It's been saying for a while that inflation is under control
François Geerolf #EN retweeted
54% of French 18- to 24-year-olds would be tempted to move to another country due to the political/economic situation (and 30% of the population overall)
Places they fancy emigrating to: Canada, America, Germany.
François Geerolf #EN retweeted
“Most people think the Federal Reserve is a national forest out West.” ~ Alan Blinder, former Vice Chair Fed. Agree.
François Geerolf #EN retweeted
Ich freue mich sehr, dass @derspiegel das @IMKFlash & mich zum "Prognostiker des Jahres 2023" für die 🇩🇪 Wirtschaft gekürt hat. Niemand sonst habe BIP+Details so genau vorhergesagt wie wir, so @ThomasFricke10
Danke an mein tolles Team für die gute Arbeit!
spiegel.de/wirtschaft/sozial…
François Geerolf #EN retweeted
Robert Solow:
“I’m glad there is no
Milton Friedman anywhere [...] today. Milton Friedmans are bad for economics and bad for society. Fruitless debates with talented (near-)extremists waste a lot of everyone’s time that could have been spent
more constructively.”
François Geerolf #EN retweeted
It's time to say it again
econ textbook present selected *ideas* as if they were obvious, w/o underlying rationale or context
Reading past econ work + history tells you context, modeling motives (society's demands, tractability, data availability...), practices, and debates
François Geerolf #EN retweeted
Calling his ideas flawed or dangerous is one thing; but the demonization of Keynes by libertarians and conservatives is silly.





































