Sunday , January 24 2021
Home / Tag Archives: Academic research & research papers (page 5)

Tag Archives: Academic research & research papers

The Eye of Providence: Thoughts on the Evolution of Bank Supervision

Federal Reserve recently organised a conference on bank supervision (lots of papers here). Federal Reserve Vice Chair for Supervision Randal K. Quarles delivers a speech in the conference: In many respects, the focus of today’s conference on bank supervision, rather than regulation, and the relatively recent efflorescence of scholarly attention to that topic, are welcome new developments. In other respects, however, the question of the proper scope of bank supervision is not a new topic...

Read More »

World War I and the Restructuring of International Business

Ted Fertik & Naomi R. Lamoreaux in this new NBER paper: This paper considers the effect of the First World War on large-scale businesses in Second-Industrial-Revolution industries like steel, electricity, and chemicals. For firms in the nations of the Entente, we argue, the war mainly interrupted long-term trends that resumed in the aftermath of the conflict. For Germany, however, the war and its subsequent territorial settlements had a disruptive impact on the economic geography of...

Read More »

Review of literature studying interactions between climate change and financial markets

Stefano Giglio, Bryan T. Kelly, and Johannes Stroebel in this new NBER paper: We review the literature studying interactions between climate change and financial markets. We first discuss various approaches to incorporating climate risk in macro-finance models. We then review the empirical literature that explores the pricing of climate risks across a large number of asset classes including real estate, equities, and fixed income securities. In this context, we also discuss how investors...

Read More »

Rise of the South in global finance

Fernando Broner, Tatiana Didier, Sergio L Schmukler and Goetz von Peter in this BIS Working Paper: The paper documents the rise of the South in global finance. International investments between the North and South expanded faster than within the North. Financial integration within the South has grown even faster. By 2018, the South accounted for 24 to 40% of international loans and deposits, portfolio investment and foreign direct investment. This is about 10 percentage points more than...

Read More »

Why companies hunt for talent on digital platforms, not in resume piles

Michael Blanding of HBSWK cites new research on digital platforms behind much of the hiring: When it comes to the job hunt, many of us have a traditional view of what it takes to find a new position: A worker searches for available openings, sends in a resume, and waits for an interview. Much of academic research assumes that’s the way people find jobs, too. From mathematical models to field studies, researchers tend to think that workers submit resumes to open positions. In fact,...

Read More »

(In)Efficiencies of current financial market infrastructures – a call for DLT?

Basil Guggenheim, Sebastien Kraenzlin and Christoph Meyer of SNB in this paper : We use unique individual bank-to-bank repo transaction data to empirically assess the efficiency of the existing Swiss financial market infrastructure (FMI) for executing delivery versus payment transactions. This approach enables us to identify its current benefits and drawbacks and discuss how these could be addressed and to what extent distributed ledger technology (DLT) could provide a remedy. We find...

Read More »

Achieving child literacy and numeracy in the world’s poorest areas: Evidence from rural Guinea Bissau

Multiple scholars in this voxeu research: Achieving universal basic literacy and numeracy has long been a policy goal for development agencies working in areas of extreme poverty. This column presents evidence from a bundled intervention in rural Guinea Bissau which suggests that targeted education policies can have substantial positive effects on children’s schooling outcomes. Such policies could play a key role in helping people ‘escape’ the poverty trap, as the education gains from...

Read More »

The Measure of Financial Regulators’ Independence

Howard Davies in this article raises the point that we need to think about independence of financial regulators/supervisors. Just like Central Bank Independence has become an important point of discussion, so should be independence of financial regulation/supervision. ….there is wide support for the general proposition that taking politicians out of the process of setting interest rates is associated with lower and more stable inflation. There is much evidence that, previously, the...

Read More »

Central bankers of the future

Agustín Carstens, General Manager of the BIS in this speech looks at central bankers of future: What if a time-travelling central banker from yesteryear woke up today in a BIS meeting of central bankers? And – after somebody had explained to her why everyone was wearing a mask – what would she think of the topics being discussed? Especially, how amazed would she be at the way tech is driving big changes in finance and central banking? My guess is that she would pick out four or five...

Read More »

The Coase Theorem at 60: A Process of Becoming

Prof Timothy Taylor in this post writes on the Coase Theorem at 60. Steven Medema know more about the history of the Coase theorem than many of us know about our spouses. So whether you are distantly or intimately familiar with the idea, you are likely to pick up some insights in his article, “The Coase Theorem at Sixty” (Journal of Economic Literature, 2020, 58:4, pp. 1045-1128, subscription required). In the 1960 article by Ronald Coase, “The Problem of Social Cost,” the Coase...

Read More »