Joshua Angrist on Econometrics and Causation
EconTalk
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The Importance of Human Capital in Policy Discourse
Economists have improved our understanding of something that wouldn't have otherwise been obvious to the general public or to policy makers. I'm worried that we're making a mistake when we conclude that minimum wage increases don't affect employment very much in the current range. If you ask me for the largest macroeconomic victory for economic policy relevant to empirical work, I would say it's free-minute squirts and inflation.
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