SVB got in trouble for investing in MBS. It’s certainly not alone in doing so. Why do banks invest in assets like MBS in the first place? 1/

SVB, part 4. Why I think the bailout was a mistake. (1/n). The tradeoff is clear. On the one hand, the risk of a run on other banks, especially large regional banks. On the other, moral hazard, inefficiencies, and political costs. This is never a good situation to be in and ..

Les violences seront condamnées et poursuivies, d’où qu’elles viennent et chaque fois que cela sera nécessaire. Communiqué du 27 mars 2023 | Université Paris-Panthéon-Assas u-paris2.fr/fr/communique-…

#QJE May 2023 #11, “Let the Worst One Fail: A Credible Solution to the Too-Big-To-Fail Conundrum,” by Philippon (Thomas Philippon) and Wang (Olivier Wang): doi.org/10.1093/qje/qj…

After a bank closure forced firms to switch, their borrowing costs dropped and converged to the market average. This suggests that distressed banks overcharge firms and reveals firms’ switching costs. Closures of distressed banks can improve firm financing.jfqa.org/wp-content/upl…

To no one's surprise, the Nobel Prize goes to Claudia Goldin Here are 3 things from her to start your dive into her work:

Google DeepMind researchers used AI to discover 2.2 million theoretical stable materials. "The number of substances found is equivalent to almost 800 years of previous experimentally acquired knowledge." Read more: ft.com/content/f841e9…

Super interesting IO telecoms paper by @elliott_jtG Houngbonon M Ivaldi & Paul Scott just accept in the Journal of Political Economy.🚨 Very timely given current policy debate around concentration 1/

Hello everyone, I am on the Econ job market this year. @EconJobMarket Econ Job News This is a link to my webpage 👇 sites.google.com/view/sreoshiba…