#EconCOREWeek concludes with seminars by Ryungha Oh (https://t.co/XsLeGxXyb9) of @UChicago ("Assortative Matching through Partially Directed Search") and @DominikSupera of @Columbia_biz ("Security Losses, Interbank Markets, and Monetary Policy Transmission”)
@idrechs diving into our credit card work on Odd Lots.
Thanks @tracyalloway & @TheStalwart for featuring our research! You can find the full paper here:
https://t.co/lbpTWIGfbF
NEW ODD LOTS
WHY ARE CREDIT CARD RATES SO HIGH?
The answer is more interesting than you might think.
Just in time for the holiday shopping season, @TheStalwart and I speak with @idrechs about the biz models of big credit card:
https://t.co/VAU6YXWhyz
The latest from @LibertyStEcon
Why Are Credit Card Rates So High?
By Itamar Drechsler, Hyeyoon Jung, Weiyu Peng, Dominik Supera, and Guanyu Zhou
https://t.co/Xu2uuoWJ0V
Credit cards account for 70% of retail spending and are a primary source of unsecured borrowing. But their rates are far higher than the rates on any other major type of loan or bond. In today's post, the authors ask: why are credit card rates so high? https://t.co/w22feGY9pb
The combined purchases of MBS by banks and the Fed lowered the mortgage spread by 81 bps from 2019 to 2024, about 1/2 the 2010-19 average spread. Banks were responsible for 43 bps and the Fed for 38 bps. @idrechs@AlexiSavov@schnabl_econ@DominikSupera
https://t.co/xK98qWmGHa
We have a new paper out for this year’s *Jackson Hole* conference: “Monetary Policy and the Mortgage Market,” with @idrechs , @schnabl_econ , and @DominikSupera . Here’s a summary:
Philipp is presenting a new paper we wrote at this year’s Jackson Hole conference.
Jackson Hole Economic Policy Symposium: Reassessing the Effectiveness and Transmission of Monetary Policy https://t.co/J9oCT0PfGT via @KansasCityFed
Excited to share our paper "Systemic Risk and Monetary Policy" published in the July issue of the Review of Financial Studies!
Joint work with amazing co-authors: @luc_laeven@DominikSupera@caterinamendic2@persistdebt
https://t.co/j8yNIvTxRC @SFSjournals
short🧵below
@caterinamendic2 Thank you so much, @caterinamendic2, for the kind introduction! Excited to be finally here and looking forward to connecting with everyone.