Tag Archives: Finance

Jeremy Stein on Regulating Large Financial Institutions

Here‘s Jeremy Stein on regulating large financial institutions. Some have argued that the current policy path is not working, and that we need to take a fundamentally different approach.4  Such an alternative approach might include, for example, outright caps on the … Continue reading

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Links: Deficits, Fiscal Policy in a Depressed Economy, Finance, & Moneyball for Judges

Moneyball for Judges by Cass Sunstein Dylan Matthews on Deficits (and Krugman follow up) Fiscal Policy in a Depressed Economy: Further Thoughts from Brad Delong Solow on American Finance (or Mark Thoma’s summary)

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Concentration in Mortgage Lending, Refinancing Activity, and Mortgage Rates

Here’s a recent paper from David Scharfstein and Adi Sunderam on the effects of mortgage market concentration on refinancing effectiveness. Seems like some interesting variation that could be used to trace out the effects of refinancing on consumption in a follow up … Continue reading

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Reforming Money Market Mutual Funds

Here’s a new proposal from Sam Hanson, David Scharfstein, and Adi Sunderam. We analyze the leading reform proposals to address the structural vulnerabilities of money market mutual funds (MMFs). We take the main goal of MMF reform to be safeguarding financial stability. … Continue reading

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How Similar are Public and Private Equity Returns?

Tobias Moskowitz and Annette Vissing-Jorgensen have an AER paper that I recently came across that compares public and private equity returns.  They find that on average private equity returns are no higher than public equity returns despite liquidity differences. They … Continue reading

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Jeremy Stein on & Financial Stability & Why We See Credit Booms

Here’s a link. HT:@profsufi

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Short-term Debt, the Supply of US Treasuries, and Financial Crises

Annette Vissing-Jorgensen and  Arvind Krishnamurthy have an interesting new paper that Annette presented at Berkeley yesterday. It’s a nice example of using a simple, tractable model to understand a very important issue – the demand for safe and liquid short-term … Continue reading

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Are Sticky Prices Costly? Evidence From The Stock Market

A new paper from Yuriy Gorodnichenco and Michael Weber: ABSTRACT: We propose a simple framework to assess the costs of nominal price adjustment using stock market returns. We document that, after monetary policy announcements, the conditional volatility rises more for … Continue reading

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Fraud & Housing Finance:

A new paper from Tomasz Piskorski, Amit Seru, and James Witkin, which was recently featured in the economist. ABSTRACT: We contend that buyers received false information about the true quality of assets in contractual disclosures by intermediaries during the sale … Continue reading

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Overheating in Credit Markets: Origins, Measurement, and Policy Responses

A new speech from Jeremy Stein.

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