Title: Bond Funds and Credit Risk Presenter: Jaewon Choi (University of Illinois at Urbana-Champaign) Abstract: We show that supply-side effects arising from the bond holdings of open-end mutual funds affect corporate credit risk. In our model, funds exposed to flow-performance relationships are reluctant to refinance bonds of companies with weak cash flow prospects fearing future outflows. This […]

KAEA Macro VSS 8 PM EST on Thursday, March 10  / 10 AM KST on Friday (Please note that the applied micro seminar is at the same time.) Speaker: Yongsung Chang (Seoul National University) Title: Asymmetric Frisch Elasticity (joint with Sun-Bin Kim and Junseok Lee; slides attached) Zoom link https://qmul-ac-uk.zoom.us/j/82107962840?pwd=RTZnczRCaVRoQWFwV216emFwMDVJZz09

Speaker: Robin S. Lee (Harvard) The title of the talk is “ Contracting over Rebates: Formulary Design and Pharmaceutical Spending” (joint work w Kate Ho). Time: March 10, 2022, Thursday, 8 PM EST Zoom Info: https://msu.zoom.us/j/91620075890 Meeting ID: 916 2007 5890 Passcode: KAEA

We will have our second seminar of the year on March 28, Monday at 8pm EST (9am KST next day). Appended below is the information for the seminar and Zoom link. Title: Search Frictions and Product Design in the Municipal Bond Market (joint with Giulia Brancaccio) Presenter: Karam Kang (Carnegie Mellon University) Discussant: Jihye Jeon (Boston University) […]

 Program Title: The dynamic effects of economic shocks on heterogeneous inflation expectations Presenter: Gee Hee Hong (International Monetary Fund) Discussant: Jae Won Lee (Seoul National University)   Abstract of the paper is here. Zoom link to the seminar: https://iu.zoom.us/j/89342175073

Title: Statistical Treatment Rules under Social Interaction Presenter: Youngki Shin (McMaster University) Abstract: In this paper we study treatment assignment mechanisms in the  presence of social interaction. We construct a framework under the anonymous interaction assumption, where the decision problem becomes the choice of the treatment fraction. We propose a multinomial empirical success rule that includes the empirical success rule […]