Mikko Packalen
Associate Professor
Economics
University of Waterloo
Email: packalen@uwaterloo.ca
My research examines measurement of scientific and technological progress, and what levers can be used to accelerate science and technology. During the last 10 years this research has been referenced in all leading international newspapers and magazines. For example, my work is a major building block in the original Abundance essays and is prominently discussed in the Abundance book, which reset the center-left policy agenda globally. In short, my work has played a major part in convincing the center-left that stagnation is real. My impact on center-right policy agenda is more direct. In short, my work has played a major part in convincing the center-right that stagnation is not inevitable.
For the past 8 years I've taught "AI in Econ", which is now one of the most popular 4th year electives in the university; I created the course to address employer demand for AI skills. The course examines (1) AI as a tool/AI as work, (2) AI applications in Econ, (3) LLM APIs, (4) Latest AI developments, (5) How to use AI to uncover secrets.
I've also sought to contribute directly to public policy debates on science, technology, and economic stagnation. During Covid I departed from nearly the entire economics profession in that I raised alarm about the human and economic costs and the futility of various Covid policies such as school closures, lockdowns and testing.
Econ 424/626 AI in Economics
Econ 643 Health Economics
Econ 322 Econometrics I: Intro to the Credibility Revolution pdf
Econ 101 Introduction to Microeconomics pdf
Resting on Their Laureates? Research Productivity Among Winners of the Nobel Prize (with Jay Bhattacharya et al.) pdf
Submitted
Popularization: The Economist | National Review
A Machine Learning Analysis of Geographic Localization of Knowledge Flows (with Joel Blit)
Draft available upon request
Stagnation and Scientific Incentives (with Jay Bhattacharya) pdf
Submitted
Popularization: The Economist | National Review
NIH Funding and the Pursuit of Edge Science (with Jay Bhattacharya) pdf
Proceedings of the National Academy of Sciences (2020)
Popularization: The Economist | SIEPR
Age and the Trying Out Of New Ideas (with Jay Bhattacharya) pdf
Journal of Human Capital (2019)
Popularizations: Nature | Nature Editorial | De Standaard | The Scientist | Fivethirtyeight | Diverse Issues in Higher Education
Edge Factors: Scientific Frontier Positions of Nations pdf
Scientometrics (2019)
Popularization: Nature Index
Neophilia Ranking of Scientific Journals (with Jay Bhattacharya) pdf
Scientometrics (2017)
Popularization: VoxEU
Cities and Ideas (with Jay Bhattacharya) pdf
Revise and Resubmit, Journal of Urban Economics
Popularizations: NBER Digest | NPR | Washington Post/The Switch | Equitable Growth | CityLab | Pacific Standard | World Economic Forum
New Ideas in Invention (with Jay Bhattacharya) pdf
Revise and Resubmit, Research Policy; Replaces "Words in Patents: Research Inputs and the Value of Innovativeness in Invention" (link to old version)
Popularizations: The Atlantic | Les Affaires
Opportunities and Benefits as Determinants of the Direction of Scientific Research (with Jay Bhattacharya) pdf
Journal of Health Economics (2011) Replaced "Is Medicine An Ivory Tower?" (link to old version with also pharmaceutical industry analysis)
The Other Ex-Ante Moral Hazard in Health (with Jay Bhattacharya) pdf
Journal of Health Economics (2012) Earlier version with a less formal model and disease-specific analysis is here.
Popularizations: Marginal Revolution | Boston Globe/Ideas | The Economist/Free Exchange | Baker Institute | Cato Institute | Mercatus Center | Fraser Institute
Inference about Clustering and Parametric Assumptions in Covariance Matrix Estimation (with Tony Wirjanto) pdf
Computational Statistics and Data Analysis (2012)
Static and Dynamic Merger Effects: A Market Share Based Empirical Analysis (with Anindya Sen) pdf
International Review of Law and Economics (2013)
Complements and Potential Competition pdf
International Journal of Industrial Organization (2010)
Revise-and-Resubmit
Identification and Estimation of Social Interactions through Variation in Equilibrium Influence pdf
Under Revision
On the Learnability of Rational Expectations Equilibria in Three Business Cycle Models
Lic.Soc.Sci Thesis (2000)
Adaptive Learning of Rational Expectations: A Neural Network Approach
English version of M.Soc.Sci Thesis (1998)
Economic Stagnation
U.S. scientists must compete internationally, just like auto and steel workers do STAT News
Our universities need to ditch DEI and get back to merit and excellence Financial Post
Delete DEI. Invest in AI. Brief submitted to House of Commons
Resources, yes, but don’t give up on the knowledge economy just yet Financial Post
MAGAnomics offered a counterpoint to economic stagnation Financial Post
Reigniting Science
Risk-taking is now rare in science, but we can fix it (with Jay Bhattacharya) UnHerd
Fund young people to get more innovative science Interview for The Scientist
A Novelty Reformation to Reignite Science (with Jay Bhattacharya)
The Atlantic on My Work on Reigniting Science
The Economist on My Work and the Biden Administration's Plan to Reignite Science
Me on Reigniting Science in a Magazine of the Chinese Academy of Sciences Interview
The Economist on My Work on Stagnation in Science
Me on Science and Twitter Interview for Martin Center for Academic Renewal
The Economist on My Work on Reigniting Science
Navigating the Innovation Doldrums The Hill Times
Encouraging Edge Science through NIH Funding (with Jay Bhattacharya) Stanford Institute for Economic Policy Research
Ranking Journals by Novelty (with Jay Bhattacharya) VoxEU
Covid/Schools/Lockdowns/Testing/Contact Tracing
Inflation and Economists' Lack of Credibility (with Jay Bhattacharya) The Telegraph
Inflation is a Result of Economists' Self-Censorship (with Jay Bhattacharya) Brownstone Institute & Epoch Times
Lockdown Harms and the Silence of Economists (with Jay Bhattacharya) Collateral Global
Peter Robinson interviews Jay Bhattacharya (discussion on the Silence of Economists at 43:10) YouTube (1.5M views)
The Accidental Biosecurity State Brownstone Institute
How to Unshackle Rapid COVID Testing (with Jay Bhattacharya) Newsweek
Unmask Children to Keep Schools Open Toronto Sun pdf
More on the Futility of Contact Tracing Inference
Humane Policies Rather Than Lockdowns and Shaming The Kingston Whig-Standard
Reopen Schools to Save Lives Toronto Sun pdf
COVID Testing in Schools Foments Unfounded Fear Financial Post pdf
On the Futility of Contact Tracing (with Jay Bhattacharya) Inference: International Review of Science
The Global Cost of Our Lockdowns (with Jay Bhattacharya) The Spectator pdf
Focused COVID-19 Restrictions in Rich Countries Will Save Lives in Poor Countries (with Jay Bhattacharya) Financial Post pdf
Our Covid-19 Restrictions Threaten The Lives of Children in Poor Countries (in Finnish) Suomen Kuvalehti
Emergent Ventures 2020-2022 (with Jay Bhattacharya)
Business Finland 2020-2023 (with Jay Bhattacharya, Tero Kuusi)
Waterloo AI Institute 2019-2020 (with Joel Blit)
National Institute on Aging 2013-2019 (PI: Bruce A. Weinberg; link)
Amazon Web Services 2013-4 (cloud computing)