Everyone who knows anything about finance or government budgeting knows that a crypto reserve fund is an extremely bad idea

New paper alert! We estimate bank franchise value and its exposure to interest rate risk, i.e., its duration. We look at the combined effect of several moving parts: (1/n)

Yes.

Now that @benmoll.bsky.social has gotten everybody's attention, let me tell you about the JMP of my brilliant student Michael Cai, which deals directly with Ben's challenge: How can we model expectations in HA models in a way that is both tractable and consistent with the evidence? #EconSky

New paper: benjaminmoll.com/challenge/

Grad students: Read everything Jesse Shapiro posts at scholar.harvard.edu/shapiro/note.... Office meetings and student talks are often just me reciting "write an aspirational intro", "Your audience does not care about your topic", or "No one wants to see your underwear".

Post a picture you took (no description) to bring some zen to the timeline

I hope everyone moves from Twitter/X here

42000 companies must prepare sustainability statements based on 1052 data points, 783 mandatory. We're not just adding a cost to business—we're shifting the incentives for where talent goes and risking a poverty trap: "The Compliance Doom Loop." www.siliconcontinent.com/p/the-compli...