We are in a time in history when the population of refugees and forced displaced people has perhaps never been larger. This, along with frustrating political stalemates regarding the root causes of humanitarian crises, suggests refugee resettlement as one salient way to reduce human suffering around the world. In the world’s top (3rd country) refugee receiving countries, however, public perception and nationalistic backlashes complicate this objective.
Over the holiday weekend (in the United States) The Economist ran an article with the title: “Economists are Prone to Fads, and the Latest is Machine Learning“. As I am currently taking a class on ‘Big Data for Economists’, this article peaked my interest. The following chart was shown to visualize some recent trends within economics, but a fad implies something has short-term enthusiasm that ultimately dies off. This chart doesn’t show any decay in the use (erm… mentions in NBER working-paper abstracts) of these methodological innovations. In fact, all of these methods – besides DSGE, are continuing to trend upwards. So are these methods a fad or are they here to stay?