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David McKenzie's blog

Friday links: Randomized short-selling of stocks, financial literacy, mechanical turks and more...

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·         A remarkable sounding experiment – randomizing the freedom to short-sell stocks – is covered on Bloomberg. They worked with a money manager and randomized which stocks they changed the supply of lendable shares in, working with over $580 million in securities.

Reviewing Jim Manzi’s Uncontrolled: A humble push for evaluation through experimentation, but also a missed opportunity

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The new book Uncontrolled by Jim Manzi has attracted a lot of recent press (e.g. see Markus’ recent post for discussion of David Brooks’ take, or this piece in the Atlantic), and makes the argument that there should be a lot more randomized experiments of social programs. I was therefore very interested to order a copy and just finished reading it.

Thoughts from the BREAD Development Conference – should our prior be no effect, and issues with learning from encouragement

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I spent Friday and Saturday at the BREAD development conference at Yale (program here). It differs from most conferences - which feature many papers each presented for a short amount of time- by instead having only 7 papers each presented for 1 hour 15 minutes with plenty of spirited discussion.

Stark evidence on the jobs quality-quantity trade-off: Evidence from migration

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“More and better jobs” is a goal for many policymakers around the world (along with part of the title for a recent World Bank South Asia flagship report on employment). How to create “good jobs” is a key question that the next World Development Report is also expected to help answer.

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