Very happy to see this work with @rlx_shi and @zkyuan coming finally out: “The spread of COVID-19 in London: Network effects and optimal lockdowns”
Again zillion thanks to a great editor: @elie_tamer
OA link: https://t.co/5VIfNm1CKT
#econtwitter
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It is with immense sadness that the FMG has learned the news of Denis Gromb's passing. He is fondly remembered here, in an obituary written by Dimitri Vayanos: https://t.co/ezYzjw8exu.
SWP 985 by Christian Julliard (LSE), Gábor Pintér (BoE), Karamfil Todorov (BIS) and Kathy Yuan (LSE) uses a transaction level dataset to explore the determinants of repo market haircuts and which frictions are most important for their pricing.
https://t.co/MALwUK8ZDh
September 2021 Editor’s Choice: “Network Risk and Key Players: A Structural Analysis of Interbank Liquidity”
Edward Denbee
@Chris_Julliard
Ye Li
@zkyuan
https://t.co/PrxYG2fhsH
Finally out: “Network Risk and Key Players: A Structural Analysis of Interbank Liquidity”
And many thanks again to @toniwhited for her insights and help https://t.co/saiLN8NTBM
NEW REPORT: Pitched debates about #China's lending to developing countries are short on facts. It is usually a contest of polar opposites -- Is China a patient development partner or a new imperialist power? #HowChinaLends#BRI https://t.co/9TKU1AIpGk /1
Indeed we forecasted Internet forums could foster trading frenzies in 2013. We wrote: “A large volume of activity in such [internet] forums could suggest that speculators have more common information than private information and so trading frenzies become more likely to occur.”
Trading frenzy is not a zero sum game but has real economic consequences. When the capital market becomes a casino, efficiency will be lost. As most economies move from bank towards market based financial intermediation, it is worrisome to see the breakdown of the capital market.
1/5 In our 𝕥𝕣𝕒𝕕𝕚𝕟𝕘 𝕗𝕣𝕖𝕟𝕫𝕚𝕖𝕤 paper a capital provider learns from price of a firm's security to decide how much to invest. To influence this decision speculators who wish to trade like each other coordinate on common sources of information. https://t.co/hLv3PH1la0
4/5 For example, American Airlines, to benefit from the share price gain, decided to sell up to $1.1 billion worth of new shares. https://t.co/PF7uMXsjsR
1/5 In our 𝕥𝕣𝕒𝕕𝕚𝕟𝕘 𝕗𝕣𝕖𝕟𝕫𝕚𝕖𝕤 paper a capital provider learns from price of a firm's security to decide how much to invest. To influence this decision speculators who wish to trade like each other coordinate on common sources of information. https://t.co/hLv3PH1la0
Moderna CEO and co-founders came to the US as foreign students: Born in Lebanon, Noubar Afeyan, co-founder & chairman of Moderna came for his PhD at MIT. Born in France, CEO Stéphane Bancel came for his MS & MBA https://t.co/24uYsWTLGt
I have very similar concerns about online seminar series.
Many well-known economists from top schools are probably happy to give an online seminar each week. But they would never be willing to travel that often.
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