The illusion of control
Global macroprudential and microprudential regulatory changes since 2008 have been designed to make a repeat of a systemic crisis much less likely...
Giant funds and market mispricing
The short-termism of corporate managers has been a recurring concern of policymakers for decades due to the close tie with mispricing in capital...
Layered Networks, Equilibrium Dynamics, and Stable Coalitions
Dynamic Games and Applications, 13, 636–668
Epidemic Exposure, Financial Technology, and the Digital Divide
Journal of Money, Credit and Banking, 54 (7), 1913-1940
Research highlight
Multi-asset Noisy Rational Expectations Equilibrium with Contingent Claims
The Review of Economic Studies, 89 (5), 2445–2490
Assessment of damages to Ukraine’s productive capacity
The ongoing war in Ukraine has resulted in large damages to both public infrastructure and private corporate assets. The extent of these damages will...
Liz Truss has an opportunity to fix a critical financial regulation flaw
Effective financial markets provide the foundation for a highly productive and stable economy, but no UK regulator is responsible for the overall...
Algorithmic Trading and Investment-To-Price Sensitivity
Does the increased prevalence of algorithmic trading (AT) produce real economic effects? We find that AT contributes to managerial learning by...
The Illusion of Control Why Financial Crises Happen, and What We Can (and Can't) Do About It
A challenge to the conventional wisdom surrounding financial risk, providing insight into why easy solutions to control the financial system are...
Choosing a numerical programming language for economic research: Julia, MATLAB, Python or R
Economic researchers can choose between four general purpose programming languages – Julia, MATLAB, Python, and R. This column evaluates the four...
Total factor productivity growth: we need a new drug
Creating the innovations that drive total factor productivity (TFP) growth takes both ideas and firms that process those ideas into new products or...
Research highlight
Sentiment and Speculation in a Market with Heterogeneous Beliefs
American Economic Review, 112 (8), 2465-2517
Measuring Ukraine’s private consumption during the war
As Russia’s invasion continues to ravage many parts of Ukraine, the flow of official statistical data has been erratic. This column outlines an...
Ideas, Idea Processing, and TFP Growth in the US: 1899 to 2019
Innovativity – an economy's ability to produce the innovations that drive total factor productivity (TFP) growth – requires both ideas and the ability...
