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September 2024
October 2024
Scott Baker – Kellogg School of Management (Northwestern University)
The Effects of Cryptocurrency Wealth on Household Consumption and Investment Abstract This paper uses transaction-level bank and credit card data to identify cryptocurrency investors and assess the impact of crypto wealth fluctuations on household consumption, as well as on investments in other assets. We find an $0.09 MPC from crypto…
Find out more »Gordon Phillips – Tuck School of Business (Dartmouth)
New Technology Sectoral Disruptions Abstract We construct a novel measure of technology sectoral disruptions (TSDs) using a dynamic text-based spatial model of patents based on the extent to which innovation is suddenly highly correlated across multiple industries. We identify multiple TSDs occurring over a 70-year period of time. Abnormal stock…
Find out more »November 2024
Shaojun Zhang – Fisher School of Business (Ohio State)
Oil-Driven Greenium Abstract As climate attention grows, many argue that investors discipline carbon-intensive firms by increasing their costs of capital, creating a “greenium” favoring green firms. We challenge this view, demonstrating that the observed greenium variation is largely driven by oil demand fluctuations, which boost product prices and growth options…
Find out more »Yael Hochberg – Jones Graduate School of Business (Rice)
LEARNING TO QUIT? A MULTI-YEAR FIELD EXPERIMENT WITH INNOVATION DRIVEN ENTREPRENEURS We use a randomized experiment with 553 science- and technology-based startups in 12 coworking spaces across the US to evaluate the effects of intensive, short-term entrepreneurial training programs similar to that offered by accelerator programs and executive education programs…
Find out more »December 2024
Nancy Xu – Carroll School of Management (Boston College)
Do the Voting Rights of Federal Reserve Bank Presidents Matter? Abstract Voting seats at FOMC meetings rotate exogenously among Reserve Bank presidents on a yearly basis. Using detailed data on 472 FOMC meetings that took place between 1969 and 2019, we show that when there is a substantial dispersion in…
Find out more »February 2025
Brent Ambrose (Penn State)
Brent Ambrose will present the following paper: Do Appraiser and Borrower Race Affect Mortgage Collateral Valuation? (Link) Abstract: We examine racial bias in property appraisals using a national sample of refinanced mortgages from 2000 to 2007. Our data allow us to observe the race of the appraiser and homeowner in…
Find out more »March 2025
Alexander Butler – Jones Graduate School of Business (Rice)
A Market-based Measure of Climate Risk for Cities Abstract We use information from financial markets to construct a comprehensive measure of cities’ economic exposure to climate-related risks. Studying a large sample of municipal bonds issued by U.S. cities, we document substantial variation in how municipal bond prices respond to innovations…
Find out more »Victoria Ivashina (HBS)
Victoria Ivashina will present the following paper (click link in title for paper). Bank Runs and Interest Rates: A Revolving Lines Perspective with Falk Brauning Abstract: Revolving credit is at the core of the banking business. Corporate revolving credit lines are demandable claims; thus, similar to a traditional bank run…
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