How the (Econometric) Sausage is Made

This is a week filled with great angst. And, while I don't think a good electoral outcome "saves the republic," it does help stem the tide. And avert more unnecessary deaths. At least for a while. So, here's hoping the will of the people leads to a flip flop in our government.  Our government needs a flip; not necessarily from one party to the other. It needs a flip from those in leadership positions that lack the ability or desire to lead to those that do. If politicians who are willing to and able to lead are concentrated in one party, so be it. If individuals on both sides of the aisle can stand up and lead, so be it. We need leaders in charge, not cowards. Or morons. Alas, this is an econometrics blog, not a political one. So, I was thinking about flip flops for another reason. No, not because I have only failed to wear flip flops on only about six occasions since the pandemic began. No, not because I am typing this in my office at SMU in bare feet. In hopes of di...