Monthly Archives: March 2013

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

Posted in Uncategorized | Tagged , , , , , , | 1 Comment

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

Posted in Uncategorized | Tagged , , , , , , | 1 Comment

Productivity & International Management Heterogeneity

Here is a chart from John Van Reenen’s recent paper on management as a technology. It shows that the distribution of survey-assessed management quality across firms varies quite a bit across countries. In the US, you see much fewer poorly … Continue reading

Posted in Uncategorized | Tagged , | Leave a comment

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

Posted in Uncategorized | Tagged , , , , , , , | Leave a comment

Top 10 Charts from the Economic Report of the President

Here are my top 10 figures from this year’s Economic Report of the President.

Posted in Uncategorized | Tagged | Leave a comment

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

Here’s a link. HT:@profsufi

Video | Posted on by | Tagged , , , , | Leave a comment

Austerity and the Greek Depression

The NY Times has a nice feature that compares the Greek economy from 2007-2012 to that of the US from 1929-1934. Besides the disturbing similarity, the most notable feature of this figure is how different the government spending response has been. … Continue reading

Posted in Uncategorized | Tagged , , , , , , , , , | Leave a comment