David Perez-Reyna
@davidperezreyna.bsky.social
1700+ years of price-control failures should teach us: temporary measures become permanent, and "targeted" controls expand. Better policy: increase supply.
Link to blog entry: open.substack.com/pu...
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Link to blog entry: open.substack.com/pu...
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Price Control Apologia
My colleague and friend Neale Mahoney writes in favor of price and rent controls in the Sunday New York Times, with Bharat Ramamurti.
open.substack.com
November 17, 2025 at 10:01 PM
1700+ years of price-control failures should teach us: temporary measures become permanent, and "targeted" controls expand. Better policy: increase supply.
Link to blog entry: open.substack.com/pu...
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Link to blog entry: open.substack.com/pu...
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Real solutions: Remove zoning barriers, streamline permits, and eliminate tax impediments to mobility. Buenos Aires saw rents fall instantly after ending controls. 4/5
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November 17, 2025 at 10:01 PM
Real solutions: Remove zoning barriers, streamline permits, and eliminate tax impediments to mobility. Buenos Aires saw rents fall instantly after ending controls. 4/5
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Who loses? Young professionals, immigrants, and mobile workers who need rental access. Rent control reduces the number of available units and impedes economic mobility. 3/5
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November 17, 2025 at 10:01 PM
Who loses? Young professionals, immigrants, and mobile workers who need rental access. Rent control reduces the number of available units and impedes economic mobility. 3/5
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Budget constraint reality: Every dollar of "relief" for tenants comes from landlords' pockets.
Rent control = tax on property owners to subsidize current renters. 2/5
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Rent control = tax on property owners to subsidize current renters. 2/5
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November 17, 2025 at 10:01 PM
Budget constraint reality: Every dollar of "relief" for tenants comes from landlords' pockets.
Rent control = tax on property owners to subsidize current renters. 2/5
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Rent control = tax on property owners to subsidize current renters. 2/5
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Enlace a la entrada: economia.uniandes.ed...
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Colombia necesita volver a ser aburrida | Universidad de los Andes
Economía Uniandes, reconocida por su excelencia académica y por tener el principal centro investigación y consultoría económica y social del país, el CEDE.
economia.uniandes.edu.co
August 20, 2025 at 4:51 PM
Enlace a la entrada: economia.uniandes.ed...
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Hoy enfrentamos déficits históricos sin justificación externa. Sin plan creíble de ajuste. Esto arriesga nuestro principal mecanismo antipobreza: el crecimiento económico.
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August 20, 2025 at 4:50 PM
Hoy enfrentamos déficits históricos sin justificación externa. Sin plan creíble de ajuste. Esto arriesga nuestro principal mecanismo antipobreza: el crecimiento económico.
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Pero desde 1991 algo cambió. La nueva Constitución amplió el Estado sin garantizar recaudo proporcional. Resultado: déficits estructurales y mayor volatilidad.
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August 20, 2025 at 4:50 PM
Pero desde 1991 algo cambió. La nueva Constitución amplió el Estado sin garantizar recaudo proporcional. Resultado: déficits estructurales y mayor volatilidad.
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Los 80 lo demuestran: mientras la región vivía la "década perdida", Colombia creció 3,3% anual promedio. Sin hiperinflación, sin cambios de moneda. De hecho, Colombia ha mantenido la misma moneda desde 1902.
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August 20, 2025 at 4:50 PM
Los 80 lo demuestran: mientras la región vivía la "década perdida", Colombia creció 3,3% anual promedio. Sin hiperinflación, sin cambios de moneda. De hecho, Colombia ha mantenido la misma moneda desde 1902.
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Existe correlación negativa entre volatilidad y crecimiento en América Latina. Colombia históricamente tuvo la menor volatilidad entre los 11 países más grandes.
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August 20, 2025 at 4:50 PM
Existe correlación negativa entre volatilidad y crecimiento en América Latina. Colombia históricamente tuvo la menor volatilidad entre los 11 países más grandes.
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¿El secreto? Responsabilidad fiscal. Mientras otros países sufrían ciclos dramáticos de auge-crisis, Colombia mantuvo trayectoria estable. Menos déficits = menos volatilidad.
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August 20, 2025 at 4:50 PM
¿El secreto? Responsabilidad fiscal. Mientras otros países sufrían ciclos dramáticos de auge-crisis, Colombia mantuvo trayectoria estable. Menos déficits = menos volatilidad.
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En 1900 el PIB per cápita colombiano era solo 64% del promedio regional. Para 2017 llegó al 95%. Esto es un crecimiento constante, no espectacular, pero sostenido.
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August 20, 2025 at 4:50 PM
En 1900 el PIB per cápita colombiano era solo 64% del promedio regional. Para 2017 llegó al 95%. Esto es un crecimiento constante, no espectacular, pero sostenido.
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Link to blog entry: open.substack.com/pu...
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6 reasons why tariffs are a terrible way to raise revenue
Some principles of taxation
open.substack.com
August 12, 2025 at 12:35 AM
Link to blog entry: open.substack.com/pu...
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Bottom line: Tariffs aren't just another tax. They distort consumption, reduce productivity, slow capital accumulation, and invite wasteful lobbying, breaking all optimal taxation principles simultaneously.
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August 12, 2025 at 12:34 AM
Bottom line: Tariffs aren't just another tax. They distort consumption, reduce productivity, slow capital accumulation, and invite wasteful lobbying, breaking all optimal taxation principles simultaneously.
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Rent-seeking costs compound everything. Protected industries spend resources lobbying to maintain tariffs instead of improving efficiency. This deadweight loss (the "Tullock rectangle") often exceeds traditional estimates.
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August 12, 2025 at 12:34 AM
Rent-seeking costs compound everything. Protected industries spend resources lobbying to maintain tariffs instead of improving efficiency. This deadweight loss (the "Tullock rectangle") often exceeds traditional estimates.
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The capital accumulation problem: Tariffs on productive equipment (think imported machinery) slow growth. It's like taxing the ladders that make workers more productive—everyone loses over time.
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August 12, 2025 at 12:34 AM
The capital accumulation problem: Tariffs on productive equipment (think imported machinery) slow growth. It's like taxing the ladders that make workers more productive—everyone loses over time.
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Tariffs also violate the Atkinson-Stiglitz principle: all final goods should be taxed equally. By only taxing imports, tariffs artificially distort consumption choices between domestic and foreign products.
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August 12, 2025 at 12:34 AM
Tariffs also violate the Atkinson-Stiglitz principle: all final goods should be taxed equally. By only taxing imports, tariffs artificially distort consumption choices between domestic and foreign products.
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Key insight: Tariffs tax intermediate goods (production inputs), violating the Diamond-Mirrlees principle. When you tax car parts crossing borders multiple times, a 10% tariff becomes 30% on the final product.
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August 12, 2025 at 12:34 AM
Key insight: Tariffs tax intermediate goods (production inputs), violating the Diamond-Mirrlees principle. When you tax car parts crossing borders multiple times, a 10% tariff becomes 30% on the final product.
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Unlike income taxes (where economists disagree), tariffs create unique inefficiencies. They don't just raise revenue—they systematically shrink the economic pie before we can tax it.
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August 12, 2025 at 12:34 AM
Unlike income taxes (where economists disagree), tariffs create unique inefficiencies. They don't just raise revenue—they systematically shrink the economic pie before we can tax it.
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EXCLUSIVO: Cambian las fachadas de las estaciones del metro de Bogotá, alcaldía de Carlos Fernando Galán presenta diseños | Red+ Noticias Colombia share.google/F6bg8qq...
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August 1, 2025 at 9:23 PM
EXCLUSIVO: Cambian las fachadas de las estaciones del metro de Bogotá, alcaldía de Carlos Fernando Galán presenta diseños | Red+ Noticias Colombia share.google/F6bg8qq...
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