Because of a lemons problem?

Interesting distribution of subsidies x.com/ylecun/status/…

The appointment made possible thanks to a generous donation from the Lalji family. 🗣️ Martin Schmalz🧘: 'I am incredibly pleased to take on the lead of such an important initiative. Our continued research in the field is critical to informed decision-making.' oxsbs.link/3JUcPIv

Very pleased with the opportunity to teach real estate at Oxford going forward. Get in touch if you'd like to exchange ideas!

Your regulator opportunity for practicing gratitude if you have a positive research budget and teach less than 100% of your time.

Why is such a small fraction of real estate publicly traded?

Google scholar page for Mexico’s President-Elect scholar.google.com/citations?user…

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I very much enjoyed our policy discussion this morning. Many thanks to the OeNB for the invitation. In a recent paper with Martin Schmalz🧘 and Igor Goncharov we offer some insights into this question: onlinelibrary.wiley.com/doi/10.1111/jo… More work is needed. Many issues are still very much open!

Why do (some) sustainable bonds bundle 1. a vanilla bond 2. a bet on reaching a sustainability target ? Why not sell the contracts separately? Is it all because central banks buy the bundle? If so, do firms/investors unbundle the bundle in a separate betting market?

x.com/cepr_org/statu…

TIL "Ultimate ownership and bank competition" is among the Top-10 most cited articles of the past 2 years in Financial Management onlinelibrary.wiley.com/doi/abs/10.111…

Do you know a 1st-rate researcher in finance/econ/acc'ing capable of quantitative economic analysis of the highest quality in pursuit of the mission to protect investors? linkedin.com/jobs/view/3979…

Join Josh White, Huaizhi Chen, and other recent hires in building a first-rate research team at PCAOB_News. Inform chair & board -- inform policy.