Stefan Nagel
@profstefannagel.bsky.social
Finance Professor at the University of Chicago Booth School of Business.
Reposted by Stefan Nagel
Everyone who knows anything about finance or government budgeting knows that a crypto reserve fund is an extremely bad idea
February 19, 2025 at 10:41 PM
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)
Bank franchise value declines with interest rates. Low deposit betas do not imply negative duration for the median bank, once spreads from lending activity are taken into account, from Peter M. DeMarzo, Arvind Krishnamurthy, and Stefan Nagel https://www.nber.org/papers/w33308
December 31, 2024 at 7:54 PM
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.
👇 Students will be using AI (heavily) whether you like it or not. The challenge for us as educators is to incorporate AI responsibly into our classroom to facilitate learning. We can have a debate on what method is best, but the response "AI is bad, don't use it" doesn't engage with reality.
Yeah, the big issue I’m running into is that students will just go to mainstream LLMs to get explanations rather than find other resources or ask *me* questions - and the LLMs are trained on 2010s LinkedIn/Medium data science slop so they end up with the wrong understanding.
December 15, 2024 at 6:49 PM
Yes.
Reposted by Stefan Nagel
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
How can we model expectations in HA models in a way that is both tractable and consistent with the evidence?
#EconSky
December 5, 2024 at 9:37 AM
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
How can we model expectations in HA models in a way that is both tractable and consistent with the evidence?
#EconSky
Reposted by Stefan Nagel
New paper: benjaminmoll.com/challenge/
November 29, 2024 at 5:59 PM
New paper: benjaminmoll.com/challenge/
Reposted by Stefan Nagel
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".
Notes and Lectures
Introduction to Quantitative Economics: Complete form to request a copy of book-in-progress. Political Economy of Electoral Democracies (PhD Course Syllabus, Spring 2024, with Vincent Pons and Aakaas...
scholar.harvard.edu
November 17, 2024 at 6:08 PM
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
November 17, 2024 at 5:17 PM
Post a picture you took (no description) to bring some zen to the timeline
Reposted by Stefan Nagel
I hope everyone moves from Twitter/X here
November 17, 2024 at 11:22 AM
I hope everyone moves from Twitter/X here
Reposted by Stefan Nagel
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...
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...
The Compliance Doom Loop
Why the rules keep growing
www.siliconcontinent.com
November 13, 2024 at 9:13 AM
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...
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...