Penis size and growth

Understanding why some countries are poor and why some grow than others is probably one of the most important questions in Economics. The traditional tool to tackle this challenge has been growth regressions: use cross-country data and regress the GDP growth rate on various indicators that could be relevant in order to find which matter most. These regressions have been abused over the years, especially as there are obvious endogeneity and collinearity issues. Also, the results are driven by a multitude of (poor) countries where data quality is quite horrendous. The worst is probably all the data mining that is going on in this literature, which culminated with Xavier Sala-i-Martin's two million regressions.

Tatu Westling uses a variable the previous literature completely ignored: the average length of the erect human penis. Adding this variable to the regression shows a U-shaped relationship for the GDP level, explaining 15% of its variation. The optimal penile length is 13.5 cm, and 16cm is disastrous. For GDP growth, the relationship is negative, explaining 20% of the dispersion. This is not negligible, and more than institutional variables that are thought to be the key to growth and convergence.

I wonder how many people will take these results seriously and try to get policy recommendations from it. Westling hypothesize about the impact of self-confidence. The paper is very well written, taking the 'male organ hypothesis' very seriously, but in truth tongue-in-cheek. Very different from this study on flag colors I wrote about previously.

How does your paper sound?

A little know feature of the Acrobat Reader is that it can read out loud papers to you. I find it actually quite impressive how a free software can do that, but do not really see the use of it, apart from the fun factor. Or maybe when you need to read papers while driving. Anyway, the voice reading is rather monochordous, while English is a language that is much more sung, compared to other languages. Thus it sounds really boring.

I just came across a website that allows you to translate a web page into music. Code Organ is based on the letter appearing in the web page and selects the scale, instruments and drum loop. And it works with pdf files as well. Now you can read your paper with the "appropriate" music.

And here is how the Economic Logic blog sounds.

Mother's day special: money creation

This is a TV ad for a German bank. Somewhat racy, depending on your local culture.

Who is going to Japan?

I received this letter the other day. Fill in [...] with a name I am withholding:

Dear Parents of [...]

Congratulations! [...] has been nominated to journey to Japan as a People to People Student Ambassador in the summer of 2009. This is an opportunity to join high school students from your area on a fascinating educational journey.

[...] can experience 14 days of rewarding activities and meet the people of Japan, all while earning high school or university credit. Your local delegation will represent the United States overseas, experience new cultures, and make lifelong friends. Success and confidence await [...] in rewarding activities like these:

• Explore dramatic Mount Fuji, the spiritual symbol of Japan.
  
• Experience the depth of Japan's heritage as you enter Tokyo's Meji Shrine, Asakusa Temple, and Nakamise Market.
  
• Learn the art of the Japanese language and elevate your knowledge of Shinto when you ferry to a sacred island.
  
• Challenge your knowledge and viewpoint at Hiroshima's Peace Park, a memorial to World War II.
  

Etc...

I must say I felt very honored about this nomination for [...] and was wondering who would have nominated [...]. So I called the local high school, who informed me that they nominate no one for such programs, especially a cat. Now I must say that my cat [...] is of an age that would qualify for high school, hence probably the confusion.

The high school also informed me that it does not give credit for such travel, which surely disappointed me, as my cat would have received a head start if I were to register it for next year's freshman class. That credit would have come at a steep price, though, about US$6000. So I think I'll pass on the opportunity and not use the personal invitation number.

Hubbard and Bernanke (II)

I posted before the video spoof by Glenn Hubbard on Bernanke. Columbia Business School students have followed up with a skit featuring Bernanke begging Hubbard to swap jobs.

1000th PHD strip

The only comic strip I follow religiously is Piled Higher & Deeper (PHD), which chronicles the life of graduate students. Started by en Engineering graduate student at Stanford for the school paper, it has now a global following and is published three times a week. It is a lot about procrastination, delaying graduation, job markets angsts, frustration with undergraduates/research/advisers/money, finding free food and spending holidays in the basement labs. Many can relate to all that.

Number 1000 is below, and click on the image to get to the site with the other 999.

Every Breath Bernanke Takes

This is an oldie, but a goodie, and surprisingly current. This video is a spoof of Police's "Every Breath You Take", sung by Glenn Hubbard, Dean of the Columbia Business School, for the CBS Spring 2006 Follies.



I am also watching Bernanke, but without making a song of it, it does not look nice. A central banker is supposed to be independent, and not follow order from the president. Both Bush and Bernanke are panicking.