Tag Archives: Finance

Hedge Fund versus CEO Pay

There are many interesting descriptive statistics in this paper by Steven Kaplan and Joshua Rauh, including: Since 2004, the 25 highest paid hedge fund managers have earned more than all of the chief executive officers of the Standard and Poor’s 500 companies … Continue reading

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On Keeping Your Powder Dry: Fiscal Foundations of Financial and Price Stability

From Maury Obstfeld: Banking systems have rapidly grown to a point where for many countries bank assets amount to multiples of GDP. As a consequence, government’s capacity to provide stability-enhancing fiscal guarantees against systemic crises can no longer be taken for … Continue reading

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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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