Tomorrow (Nov 21) is the deadline for the BIS-CEPR-Gerzensee - SFI conference on Financial Intermediation, which I organize with Christoph Basten, Martin Brown, Sebastian Dietrich and Andreas Fuster @fuster.bsky.social . Send us your papers! www.swiss-fi.com
The research department of Norges Bank is hiring a research economist for an permanent position. Apply by November 24 and check details at econjobmarket.org/positions/11...
Good stuff coming to Le Chat
"As climate extremes intensify, the next financial crisis may not come from housing or tech, but from a climate-driven breakdown in the global food system."
Poland’s clean energy usage overtakes coal for first time
Latest data indicates progress for EU country most dependent on the fossil fuel
Wow, super interesting!
"Cultural Bonds" by Cascarano, Garcia-Appendini, Sekerci, and Stradi.
"We find that households of different cultural origins invest differently in government bonds..., reflecting cultural differences in the perception of public debt."
www.norges-bank.no/en/news-even...
38 of the 43.
"38 of 43 experts cut last month from boards that review science and research in NIH laboratories are female, Black or Hispanic.
"The scientists typically serve five-year terms and were not given a reason for their dismissal..."
www.washingtonpost.com/science/2025...
📢 There is still time to submit your #ResearchPaper to the @banquedefrance-off.bsky.social for the Diversity, Equity, and Inclusion in Economics, Finance, and Central Banking Conference.
📩 Submit your research to DEIconference@banque-france.fr by April 30.
Details: bit.ly/3DykmNJ
#DiversityInEcon
I had missed this, but it looks like Trump's April 8th executive order may kill California cap-and-trade system (www.whitehouse.gov/presidential...)
We just completed a first, preliminary draft of a new paper:
𝐓𝐡𝐞 𝐌𝐚𝐜𝐫𝐨𝐞𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐄𝐟𝐟𝐞𝐜𝐭𝐬 𝐨𝐟 𝐁𝐚𝐧𝐤 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧: 𝐍𝐞𝐰 𝐄𝐯𝐢𝐝𝐞𝐧𝐜𝐞 𝐟𝐫𝐨𝐦 𝐚 𝐇𝐢𝐠𝐡-𝐅𝐫𝐞𝐪𝐮𝐞𝐧𝐜𝐲 𝐀𝐩𝐩𝐫𝐨𝐚𝐜𝐡
Joint with Ko Miura
econweb.umd.edu/~drechsel/pa...
Article we wrote in 2019 turning out to be very relevant for the debate around external imbalances and the dollar today. www.annualreviews.org/content/jour...
It was an honor to contribute a chapter on "Sustainable Banking" to the 4th edition of The Oxford Handbook of Banking. I review the role of banks in financing the transition to a low-carbon economy, the impact of climate risks on credit supply & challenges such as greenwashing and carbon arbitrage 👇
Forthcoming article by Jin Cao, Ragnar E Juelsrud and Talina Sondershaus "The Effect of Asset Encumbrance on Bank Behavior: Evidence from the Introduction of Covered Bonds in Norway" @eeanews.bsky.social
doi.org/10.1093/jeea...
Slowly but surely coming along: we have a new version of our working textbook on diffs in diffs!
papers.ssrn.com/sol3/papers....
Chapters 2 to 4, which cover the set up, classical DIDs, and relaxations of the parallel trends assumptions have been thoroughly revised and are now almost finished.
*Please repost* @sjgreenwood.bsky.social and I just launched a new personalized feed (*please pin*) that we hope will become a "must use" for #academicsky. The feed shows posts about papers filtered by *your* follower network. It's become my default Bluesky experience bsky.app/profile/pape...
Norges Bank Spring Institute 2025 with @helenerey.bsky.social: beautiful days in a non beautiful time 🇺🇦
"We’re witnessing the self-sabotage of the United States"
from @davidfrum.bsky.social
www.theatlantic.com/politics/arc...
Last chance to apply for a #researchassistant position at @NorgesBank. Knowledge of a Scandinavian language is an advantage. Deadline February 15.
President Trump has launched an attack on the rules-based international order, which most governments regard as the bedrock of peace and prosperity. This column argues that the EU has the potential to organise an effective collective response, but it must overcome two obstacles: its size and its internal divisions. To do this, EU countries ready to go ahead should work with non-EU countries to form international partnerships, or ‘coalitions of the willing’.
President Trump has launched an attack on the rules-based international order. Olivier Blanchard @piie.com @pse.bsky.social & @pisaniferry.bsky.social argue that the #EU can and should work with non-EU countries to form partnerships or ‘coalitions of the willing’.
cepr.org/voxeu/column...
#EconSky
Graph showing that an increasing number of firms, especially large firms, have made net-zero climate commitments. Since 2016, there has been a surge of commitments for net zero emissions by large firms. This column analyses whether these corporate commitments can have a real impact on decarbonisation. It shows that large firms can and should use climate commitments to accelerate the green transition when government climate policies are constrained. Private initiatives work best in countries with more constraints on innovation subsidies than on carbon pricing, because firms’ incentives to reduce their carbon tax bill is stronger. Finally, private commitments not only resolve policy gaps but also make government commitments more credible by resolving time-inconsistency problems.
Large firms can and should use #climate commitments to accelerate the green transition when government climate policies are constrained. Private commitments resolve policy gaps & make government commitments more credible.
V Acharya, R Engle, @olivierwang.bsky.social
cepr.org/voxeu/column...
#EconSky
The organizing and program committees, along with the organizing institutions (Audencia Business School ─ Bank of Greece ─ Cyprus University of Technology ─ Durham University Business School ─ Essex Business School ─ Gabelli School of Business ─ Montpellier Business School), invite submissions of high quality theoretical or empirical research papers on financial intermediation, corporate finance, and their intersection. The conference will be held only in person. The academic program starts on Sunday (29 June) and ends Tuesday afternoon (1 July). The conference will take place at the Amarilia Hotel in Vouliagmeni on the first two days, with sessions at the Bank of Greece on July 1.
📢Final Reminder! #CallForPapers
CEPR, the organising and program committees, along with the organising institutions, invite papers for the 7th Summer #Conference on Financial Intermediation and Corporate #Finance.
📆Submit by: 15 Feb 2025
More details: cepr.org/events/7th-s...
#EconSky
Hello, Bluesky! ☀️
We fund frontier research in Europe—bold ideas, unexpected discoveries and science that shapes the future. So it’s only fitting we’ve landed here. Sorry for being late.
Follow us for updates on ERC funding, research policy, and our grantees' discoveries.
Very excited to see our paper on climate change forthcoming at the American Economic Review @aeajournals.bsky.social
! We study how people across 20 countries think about climate change and climate policies.
Modern supply chains don't look like trade theory 101!
They involve constant border crossings, each now hit by tariffs.
Tariffs raise prices, but the more important thing they do is disrupt supply relationships.
1/
While the urgency for strict policy actions against climate change is widely recognised, the inflationary effects of the green transition are unclear. This column analyses the impact of climate change policies on the price level, distinguishing between different types of policy, inflation regimes, income groups, and regional/sectoral characteristics. The inflationary effects of green regulations are limited to carbon taxes, with larger impacts in developing economies, where inflation is already high, and in regions/sectors characterised by high emissions and low innovation capacity.
The inflationary effects of green regulations are limited to #carbon taxes, with larger impacts in developing economies, where #inflation is already high, and in sectors with high emissions and low innovation capacity.
L Bettarelli, D Furceri, L Pisano, P Pizzuto
cepr.org/voxeu/column...
#EconSky 📈📉
Appropriate mix of headlines. Climate change accelerates, while the business world, under pressure from US conservatives, abandons any attempt to stop it
