Category: Financial Markets
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Shareholders vs Stakeholders, part B
Two years ago a number of U.S. CEOs signed a pledge that they would lead their companies in the interests of all stakeholders, not just shareholders. Did they?
Climate stress testing
Three recent research papers on: Pushing the modelling frontier, a new stress testing methodology and a review of recently conducted climate stress tests.
The U.S. Treasury market: the March 2020 dislocations and reform
What happened in the U.S. Treasury market in March 2020? How did the Fed react? What are the reforms that will increase liquidity of the Treasury market.
On credit rating agencies
Do political beliefs affect credit analysts’ ratings? Has credit rating inflation driven the recent growth in the U.S. BBB rated bond segment?
A new theory of financial fluctuations
Gabaix and Koijen on the “Inelastic Markets Hypothesis.”
Cyber risk and financial stability
New research on how cyber attacks can affect financial stability. Is this risk reflected in asset prices?
The GameStop saga
What are the underlying trends that have manifested in the GameStop saga? What are the lessons to learn?
Stakeholder capitalism
How to go from shareholder wealth maximization and its great simplicity to stakeholder welfare maximization and its great complexity.
Musings on markets
New research on whether the US stock market is overvalued; will a vaccine be a silver bullet for corporate earnings?