This comment was posted to reddit on Dec 24, 2015 at 2:14 am and was deleted within 1 hour(s) and 59 minutes.
BadEconomics Discussion Thread, 23 December 2015
My beef with miscellaneous literatures:
Experimental/Behavioral Economics
Outmoded and frequently trivial: the main point is already proven, the good parts of it are now just a part of regular economics
Not economics: division of labor suggests we should just read the psych and cognitive science literatures instead
Establishing behavioral effects as a deviation from a rational baseline has no sensible justification, reduces interprability and external validity of results
Environmental Economics
Enviro health studies over-focus on an easy to measure but ultimately 2nd order effect of pollution; baby birthweight effects are focused on statistical significance rather than economic significance
Estimates of social costs of carbon are ludicrously poor low balls, founded on terrible assumptions made in an effort to get some sort of empirically grounded result but which ignore the more unprecedented projected effects of climate change
Development Economics
Growth papers ignore other social sciences' work and yet have weak enough identification strategies that they really can't claim to blow those other lits out of the water
Randomistas are too aggressive about it, ignoring interesting questions that crop up within their studies just because the source of identifying variation isn't an RCT
Randomistas make Kenya a silly silly place, what with the weekly RCT
Macroeconomics
Self-evidently ludicrous models: insensible assumptions and inappropriate numerical methods can only be justified by really good results
Results aren't really good
Industrial Organization
That demand estimation isn't identified and you know it
At least you're figuring out a bunch of computational issues so macro will have a ready made solution by the time they realize they have a problem