Horrific, police state stuff.

I think there's a way to do it via bootstrapping; and Simen Gaure might have implemented it in his R package for FEs; but it might involve some coding

2/ The paper calls time on the idea a systemically important firm needing an emergency loan is likely "solvent but illiquid"—in none of the cases was liquidity alone a "cure.”

It also highlights (literally!) other takeaways and notable design features for future crisis-fighters.

Before press came in — but while live feed was running on Bukele’s feed — Trump said to him: “home-growns are next. … You’re gonna need to build about 5 more places.”

x.com/nayibbukele/...

Can you split it by theory vs empirics? (asking chatgpt based on the abstract for instance)

When Kasparov published this book in 2015, many dismissed him as overly pessimistic, even crazy. In hindsight, it reads like a revelation. Take this man seriously!

“Did Russia invade Ukraine” is becoming the new “Did Joe Biden win the 2020 election?” — a test that lets us know whether someone believes in democracy or is willing to trade it for their own personal ambition — and that should make us all very, very disturbed.

I have not felt prepared to read this article today about the resignation of the Treasury's Fiscal Assistant Secretary (who was just acting Treasury Secretary) until like a half an hour ago. I finally did. Its terrifying. I'm terrified.

archive.ph/yduKp#select...

Video: Opinion | How Tyranny Begins Tyranny doesn’t happen overnight. Take it from the people who missed the first signs.

I did a NYT video interview—along with voices from Hungary, Nicaragua, and Russia— about how repression works in authoritarian states.

www.nytimes.com/video/opinio...

Sage Journals: Discover world-class research Subscription and open access journals from Sage, the world's leading independent academic publisher.

Check out "require: Package dependencies for reproducible
research" in latest Stata Journal @statacorp.bsky.social by @scorreia.com and M. P. Seay. #EconSky

journals.sagepub.com/doi/abs/10.1...

I prefer not to delve into opinions (particularly given my job), but what I've seen from looking at historical bank runs is that joint runs+failures never took place in a vacuum (due to sunspot, etc.). In most cases it appears obvious that the bank would have failed even with no run. But, ...

BTW, we are not saying runs are unimportant. They might have large consequences, from causing banks to hoard cash (ex-ante) to reducing the supply of credit (ex-post)

Our statement is very specific about bank runs not being the ultimate cause of bank failures, even though they often occur together.

Thank you @petercontibrown.bsky.social for featuring our paper on Failing Banks in your PCB Central blog!

Why would you use a 800 parameter model when you can fine-tune a 8000000000 parameter language model to output the sentences "this is risky" and "this is not risky" instead?