Thiemo Fetzer πŸ‡ͺπŸ‡ΊπŸ‡ΊπŸ‡¦ - same

@fetzert
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Accidental Economist. Prof at @warwickecon and @unibonn. Visiting Prof @GRI_LSE. Fellow @STICERD_LSE. ERC STG. CEPR @cepr_org & Associate Editor @EJ_RES.
🐦https://twitter.com/fetzert
πŸŽ“https://warwick.ac.uk/fac/soc/economics/staff/tfetzer/
🌐https://www.trfetzer.com
✘https://ideas.repec.org/f/pfe231.htm

Sounds like a supranational technocratic body that may appear to have a democratic deficit, anyone? 😊

Context: https://x.com/grattonecon/status/2052344110011519083

In an abstract term, we may be seeing the budding by force of a new "single market" in the east. A new geography demands it.
@HenzeTimon @SarahNecker
@edenhofer_jacob
@ChFlachsland
so interested in finding ways to evidence anchor or validate narratives. But this is where invariably we will experience a clash of cultures. And I feel (most of) societies are not ready for this. The obvious "culture clash" is on freedom of speech versus shared responsibility.
This paper is surely important and I am glad it was published so well, but what do we think is the narrative shadow this research may develop? It may be (ab)used by political operatives for their own narrow goals. This has happened to my own work so many times, which is why I...
Further, the policy itself was blunted by the deployment of another correlated intervention: the fuel tax cut weakened the relative-price signal. Now this is important to ponder...
Similarly, the temporary fare shock may not overcome fixed commuting arrangements or these are costly to adjust to (think about how long it may take to cancel e.g. an arrangement for parking,...) people dont like to make adjustments if they perceive shocks to be transitory.
It could be that transportation is bundling many tasks together that are difficult to unbundle with public transport in the absence of a local service sector economy that caters to said needs (trip chaining/bundling)
Or it could be that informational boundaries strike. That we are unable to measure many of the more local adjustments that may capture large welfare gains. Revealed preference in favor of WFH suggests this may not be irrelevant.
Similarly, the policy induced demand shock may reduce the value of the fare cut.