Nominal News
@nominalnews.com
PhD Economist translating the latest economic research into clear, policy‑relevant insights on current issues.
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Nominal News
@nominalnews.com
· Nov 20
Here is a list of individuals that have a newsletter on substack talking about academic economic and finance research! If you want great, longer form content - this one is for you: go.bsky.app/LVtV86W
People often praise private companies for bringing innovation, but rarely point to situations where these companies are clearly anti-innovation.
Pushing against hybrid work/work from home is a prime example of this:
Pushing against hybrid work/work from home is a prime example of this:
February 7, 2026 at 4:13 PM
People often praise private companies for bringing innovation, but rarely point to situations where these companies are clearly anti-innovation.
Pushing against hybrid work/work from home is a prime example of this:
Pushing against hybrid work/work from home is a prime example of this:
With economic headlines dominating the news, as shown below, while newsrooms shrink, it is important to get in-depth explanations of what these headlines mean.
At Nominal News, I translate the latest academic economic research into clear, policy‑relevant insights you can use - published weekly.
At Nominal News, I translate the latest academic economic research into clear, policy‑relevant insights you can use - published weekly.
February 4, 2026 at 10:15 PM
With economic headlines dominating the news, as shown below, while newsrooms shrink, it is important to get in-depth explanations of what these headlines mean.
At Nominal News, I translate the latest academic economic research into clear, policy‑relevant insights you can use - published weekly.
At Nominal News, I translate the latest academic economic research into clear, policy‑relevant insights you can use - published weekly.
Both Kalshi and Polymarket (betting prediction companies) are spending advertising money on providing free groceries. Seems like politicians can shape the narrative and public discourse
February 3, 2026 at 6:29 PM
Both Kalshi and Polymarket (betting prediction companies) are spending advertising money on providing free groceries. Seems like politicians can shape the narrative and public discourse
Here is my 2 cents on the nomination of Kevin Warsh as the Federal Reserve Chair.
I’m not concerned about central bank independence, but I am worried about his ability to adapt to new scenarios. Rules of thumb generally don’t do well during unexpected situations.
www.nominalnews.com/p/kevin-wars...
I’m not concerned about central bank independence, but I am worried about his ability to adapt to new scenarios. Rules of thumb generally don’t do well during unexpected situations.
www.nominalnews.com/p/kevin-wars...
The New Federal Reserve Chair and His Conflicting Ideals
My concerns around the nomination and they’re probably not what you think.
www.nominalnews.com
February 2, 2026 at 11:18 PM
Here is my 2 cents on the nomination of Kevin Warsh as the Federal Reserve Chair.
I’m not concerned about central bank independence, but I am worried about his ability to adapt to new scenarios. Rules of thumb generally don’t do well during unexpected situations.
www.nominalnews.com/p/kevin-wars...
I’m not concerned about central bank independence, but I am worried about his ability to adapt to new scenarios. Rules of thumb generally don’t do well during unexpected situations.
www.nominalnews.com/p/kevin-wars...
Should we fund the subway extension by taxing the poor?
January 30, 2026 at 6:51 PM
Should we fund the subway extension by taxing the poor?
This is an example of a false choice. Whether you should build a subway extension and how you should fund it are two independent questions.
This pertains to every publicly funded program.
This pertains to every publicly funded program.
January 30, 2026 at 5:21 PM
This is an example of a false choice. Whether you should build a subway extension and how you should fund it are two independent questions.
This pertains to every publicly funded program.
This pertains to every publicly funded program.
Tariffs are a domestic tax. So imposing them as 'punishment' on another country is a really interesting tactic....
January 29, 2026 at 3:34 PM
Tariffs are a domestic tax. So imposing them as 'punishment' on another country is a really interesting tactic....
Work from home appears to have stabilized - around 27% of the work week is done remotely.
It’s worth noting that “work-from-home” was always an option- it, unfortunately, took the pandemic for companies/ leaders to realize. Thus, take it with a grain of salt, when leaders say things aren’t doable.
It’s worth noting that “work-from-home” was always an option- it, unfortunately, took the pandemic for companies/ leaders to realize. Thus, take it with a grain of salt, when leaders say things aren’t doable.
January 28, 2026 at 6:56 PM
Work from home appears to have stabilized - around 27% of the work week is done remotely.
It’s worth noting that “work-from-home” was always an option- it, unfortunately, took the pandemic for companies/ leaders to realize. Thus, take it with a grain of salt, when leaders say things aren’t doable.
It’s worth noting that “work-from-home” was always an option- it, unfortunately, took the pandemic for companies/ leaders to realize. Thus, take it with a grain of salt, when leaders say things aren’t doable.
Interesting debate - do the French prefer more leisure or are they prevented from working more by laws/regulations.
To counter the rebuttal - is there a consideration of having higher relative income?
To counter the rebuttal - is there a consideration of having higher relative income?
January 28, 2026 at 1:55 AM
Interesting debate - do the French prefer more leisure or are they prevented from working more by laws/regulations.
To counter the rebuttal - is there a consideration of having higher relative income?
To counter the rebuttal - is there a consideration of having higher relative income?
My issue with a lot of the how to solve H-1B talk is that very rarely I see the solution of simply doubling or tripling the number of available H-1B visas. The conundrum would then solve itself.
January 26, 2026 at 5:31 PM
My issue with a lot of the how to solve H-1B talk is that very rarely I see the solution of simply doubling or tripling the number of available H-1B visas. The conundrum would then solve itself.
There’s been a pretty change in how Supreme Court judges view court cases that involve a transfer of income or wealth:
January 26, 2026 at 3:51 PM
There’s been a pretty change in how Supreme Court judges view court cases that involve a transfer of income or wealth:
Voters sometimes end up rejecting good policies. It's often because voters don't envision how other people will alter their actions under the new policy.
That's why policies like road congestion pricing are extremely beneficial but very hard to enact.
www.nominalnews.com/p/demand-bad...
That's why policies like road congestion pricing are extremely beneficial but very hard to enact.
www.nominalnews.com/p/demand-bad...
Electoral Issue #2: Why We Demand Bad Policy
Under-appreciating equilibrium effects can result in voters demanding sub-optimal policy.
www.nominalnews.com
January 23, 2026 at 3:48 PM
Voters sometimes end up rejecting good policies. It's often because voters don't envision how other people will alter their actions under the new policy.
That's why policies like road congestion pricing are extremely beneficial but very hard to enact.
www.nominalnews.com/p/demand-bad...
That's why policies like road congestion pricing are extremely beneficial but very hard to enact.
www.nominalnews.com/p/demand-bad...
Mark Carney is in the headlines and it’s probably a great advertisement to study economics.
Looking briefly at his PhD Thesis, his research appears to argue for ‘strict anti-trust’.
Looking briefly at his PhD Thesis, his research appears to argue for ‘strict anti-trust’.
January 21, 2026 at 8:31 PM
Mark Carney is in the headlines and it’s probably a great advertisement to study economics.
Looking briefly at his PhD Thesis, his research appears to argue for ‘strict anti-trust’.
Looking briefly at his PhD Thesis, his research appears to argue for ‘strict anti-trust’.
Citadel's (a hedge fund) CEO says decisions made under the Biden administration "were so so poorly thought out in terms of economic consequences, it cost the U.S. economy dearly."
The chart below are the programs that were enacted and later cut.
The chart below are the programs that were enacted and later cut.
January 21, 2026 at 2:37 PM
Citadel's (a hedge fund) CEO says decisions made under the Biden administration "were so so poorly thought out in terms of economic consequences, it cost the U.S. economy dearly."
The chart below are the programs that were enacted and later cut.
The chart below are the programs that were enacted and later cut.
Inflation is the same as last year (accounting for October/November inflation measurement issue).
Unemployment is higher.
Unemployment is higher.
January 20, 2026 at 8:11 PM
Inflation is the same as last year (accounting for October/November inflation measurement issue).
Unemployment is higher.
Unemployment is higher.
Just a reminder - tariffs are an extremely inefficient domestic tax. It hurts the tariff imposing country.
An occasional question I hear, why do other countries have tariffs - usually the reason is that the tax collected from tariffs is administratively easier to do than say income or property tax.
An occasional question I hear, why do other countries have tariffs - usually the reason is that the tax collected from tariffs is administratively easier to do than say income or property tax.
January 20, 2026 at 6:11 PM
Just a reminder - tariffs are an extremely inefficient domestic tax. It hurts the tariff imposing country.
An occasional question I hear, why do other countries have tariffs - usually the reason is that the tax collected from tariffs is administratively easier to do than say income or property tax.
An occasional question I hear, why do other countries have tariffs - usually the reason is that the tax collected from tariffs is administratively easier to do than say income or property tax.
Credit card rewards programs are like social media - we'd all be better off if they didn't exist, but once they do exist, it makes sense we participate in them.
www.nominalnews.com/p/should-rew...
www.nominalnews.com/p/should-rew...
Should Reward Credit Cards Be Banned?
While credit card issuers collect higher fees, rewards are paid for by everyone
www.nominalnews.com
January 20, 2026 at 2:51 PM
Credit card rewards programs are like social media - we'd all be better off if they didn't exist, but once they do exist, it makes sense we participate in them.
www.nominalnews.com/p/should-rew...
www.nominalnews.com/p/should-rew...
The harder you make all avenues for legal immigration, the more undocumented immigration you will get. It’s a standard finding in economics.
January 20, 2026 at 1:29 AM
The harder you make all avenues for legal immigration, the more undocumented immigration you will get. It’s a standard finding in economics.
It is unlikely that the 10% cap will be implemented. However, what actually might help consumers is restricting rewards on credit cards. Ultimately, credit card rewards simply increase overall transaction costs (benefiting credit card issuers), while rewards are simply a re-distribution.
"You're asking me about something that the president just said... He's never going to implement it... We should talk instead about what he's doing... Every time we get distracted by what he talks about rather than what he does... he destroys and he redistributes to the rich."
January 19, 2026 at 11:01 PM
It is unlikely that the 10% cap will be implemented. However, what actually might help consumers is restricting rewards on credit cards. Ultimately, credit card rewards simply increase overall transaction costs (benefiting credit card issuers), while rewards are simply a re-distribution.
Rather than capping interest rates to 10% on credit cards, limiting 'rewards' cards would be better for consumers.
This could be done via capping interchange fees or perhaps, taxing points/cashback as income..
This could be done via capping interchange fees or perhaps, taxing points/cashback as income..
January 18, 2026 at 9:44 PM
Rather than capping interest rates to 10% on credit cards, limiting 'rewards' cards would be better for consumers.
This could be done via capping interchange fees or perhaps, taxing points/cashback as income..
This could be done via capping interchange fees or perhaps, taxing points/cashback as income..
Most of the 'cashback'/points one gets for credit cards is nearly perfectly offset by a higher price at checkout - merchants pass on the fee imposed by credit card issuers on consumers.
January 18, 2026 at 4:50 PM
Most of the 'cashback'/points one gets for credit cards is nearly perfectly offset by a higher price at checkout - merchants pass on the fee imposed by credit card issuers on consumers.
Rewards credit cards are an example of bad equilibrium.
- Credit card issuers charge higher transaction fees for them than other cards;
- The higher transaction fees are passed on to all consumers via higher prices;
- Credit card issuers charge higher transaction fees for them than other cards;
- The higher transaction fees are passed on to all consumers via higher prices;
January 18, 2026 at 1:41 AM
Rewards credit cards are an example of bad equilibrium.
- Credit card issuers charge higher transaction fees for them than other cards;
- The higher transaction fees are passed on to all consumers via higher prices;
- Credit card issuers charge higher transaction fees for them than other cards;
- The higher transaction fees are passed on to all consumers via higher prices;
Cashback and points on rewards credit cards sound great, but they've put us in a terrible equilibrium.
Rewards get paid by lower income individuals and ‘less sophisticated’ users, while credit card issuers take a larger cut.
www.nominalnews.com/p/should-rew...
Rewards get paid by lower income individuals and ‘less sophisticated’ users, while credit card issuers take a larger cut.
www.nominalnews.com/p/should-rew...
Should Reward Credit Cards Be Banned?
While credit card issuers collect higher fees, rewards are paid for by everyone
www.nominalnews.com
January 17, 2026 at 11:21 PM
Cashback and points on rewards credit cards sound great, but they've put us in a terrible equilibrium.
Rewards get paid by lower income individuals and ‘less sophisticated’ users, while credit card issuers take a larger cut.
www.nominalnews.com/p/should-rew...
Rewards get paid by lower income individuals and ‘less sophisticated’ users, while credit card issuers take a larger cut.
www.nominalnews.com/p/should-rew...
Concerns around country debt-to-GDP may be completely unfounded. If we look at other metrics such as debt-to-equity and interest-to-GDP, the data looks unremarkable*
*A short note by Berk and van Binsbergen
*A short note by Berk and van Binsbergen
January 5, 2026 at 6:28 PM
Concerns around country debt-to-GDP may be completely unfounded. If we look at other metrics such as debt-to-equity and interest-to-GDP, the data looks unremarkable*
*A short note by Berk and van Binsbergen
*A short note by Berk and van Binsbergen