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Ivan T Ivanov @ivantivanov.bsky.social · Apr 19

Gets even worse when you become a parent 😂

Ivan T Ivanov @ivantivanov.bsky.social · Apr 18

The submission deadline is May 31. Please don't hesitate to reach out if you have any questions, in the meantime more information about the conference could be found here: www.ssrn.com/index.cfm/en... (4/4)

announcement :: SSRN

www.ssrn.com

Ivan T Ivanov @ivantivanov.bsky.social · Apr 18

... or government policies targeting these investors for bond price formation, as well as the effect of state and federal policies on governments' access to external finance. (3/4)

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Ivan T Ivanov @ivantivanov.bsky.social · Apr 18

A particular preference will be given to papers that study primary market frictions that lead to higher financing costs /shortage of capital for state and local governments, secondary market frictions that increase transactions costs for investors, the prominence of retail investors... (2/4)

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Ivan T Ivanov @ivantivanov.bsky.social · Apr 18

CALL FOR PAPERS🚨! The Federal Reserve Bank of Chicago will be hosting the inaugural meeting of the Annual Conference on Municipal Bond Markets on October 3-4, 2025. We invite submissions of unpublished and highly policy-relevant papers on the muni market. (1/4)

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Mohamed A. El-Erian @elerianm.bsky.social · Dec 27

Per the FT: “Global corporate debt sales soared to a record $8tn this year, as companies took advantage of red-hot demand from investors to accelerate their borrowing plans.
Issuance of corporate bonds and leveraged loans climbed by more than a third from 2023 to $7.93tn, according to LSEG data.”

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Khoa @khoavuumn.bsky.social · Dec 17

Listen carefully and you will hear a thousand economists typing up their papers on the effects of the minimum wage increase.

Heidi Shierholz @hshierholz.bsky.social · Dec 17

Over 9.2 million workers will get a raise on January 1st as 21 states raise their minimum wages www.epi.org/blog/over-9-...

Over 9.2 million workers will get a raise on January 1 from 21 states raising their minimum wages

Twenty-one states will increase their minimum wages on January 1, raising pay for more than 9.2 million workers by a total of $5.7 billion. In addition, 48 cities and counties will raise their minimum...

www.epi.org

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Miguel Faria e Castro @mfariacastro.bsky.social · Dec 13

When I decided to take an unpaid internship at the Ministry of the Economy (~= Dept of Commerce) in my final undergrad year and realized that: (i) you could things w/ an econ degree that were more interesting than strategic consulting or investment banking but (ii) you needed a PhD for that

Dan Quintana @dsquintana.bsky.social · Dec 12

What's the moment of luck that's had the biggest impact for your academic career? For me, it was how I wouldn't have gotten a PhD fellowship if it wasn't for the 1st-ranked person declining, which meant that I was awarded the fellowship as 2nd-ranked applicant. That was my last shot at a PhD.

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David Schleicher @profschleich.bsky.social · Dec 12

The golden age of property tax assessment research is upon us. A new paper finds that assessors smooth property tax revenue by reassessing less aggressively during property value downturns. Also, they under-assess their own homes! www.nber.org/system/files...

www.nber.org

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Ivan T Ivanov @ivantivanov.bsky.social · Dec 7

4/ Bottom line, we need research that comprehensively assesses the net benefits of the exemption for both state and local bonds and private activity bonds. Also, that has to be carefully done with the understanding that private activity bonds may substitute for or complement government bonds. End 🧵

Ivan T Ivanov @ivantivanov.bsky.social · Dec 7

3/ Experts argue that while a full repeal may be unlikely, the exempt status of private activity bonds may be at risk. Private activity bonds finance public-interest projects issued by private corporations or public-private partnerships. www.bondbuyer.com/news/a-wary-...

A wary municipal market ponders post-election threats

Trump's proposed corporate tax cut, if enacted, would further concentrate the buyer base and increase the chance of volatility, said Wells Fargo head of municipal strategy Vikram Rai.

www.bondbuyer.com

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Ivan T Ivanov @ivantivanov.bsky.social · Dec 7

2/ Proponents of eliminating it argue it will generate substantial revenue for the federal government in a time with rising deficits: www.investmentnews.com/fixed-income...

What happens if munis lose their tax exemption? Advisors weigh in.

Uncle Sam is sitting on a mountain of debt and needs to find revenue wherever it can.

www.investmentnews.com

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Ivan T Ivanov @ivantivanov.bsky.social · Dec 7

1/ These debates are already heating up in the public finance space. One side of the debate favors keeping the tax exemption with the argument that it makes public-interest infrastructure investment feasible especially for smaller and financially constrained governments: www.nlc.org/article/2024...

#BuiltByBonds: Demonstrating Why Tax-Exempt Municipal Bonds Are Essential for Cities

Cities of all sizes rely on tax-exempt municipal bonds as a critical tool to finance infrastructure projects and essential public services. These bonds help fund everything from schools and hospitals…

www.nlc.org

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Ivan T Ivanov @ivantivanov.bsky.social · Dec 7

The expiration of the TCJA next year will renew debates on whether the federal income tax exemption of municipal bonds should be preserved or eliminated. The exemption subsidizes infrastructure spending at the state/local level with federal taxpayer money. A 🧵:

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NPR's Planet Money @planetmoney.bsky.social · Dec 7

For decades, Windell Curole worked with the federal government to build a massive ring of levees to protect his community from hurricane force flooding. But after Katrina, Windell decided that the best way to protect the place he was born and raised was to go rogue.

https://buff.ly/4g02rxe

npr.org

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Dan Garrett @danggarret.bsky.social · Nov 27

We are currently putting together another set of seminars for the Virtual Municipal Finance Workshop for next year.

We won't have a formal call, but we've tried to do an exhaustive search for new working papers. Feel free to send me any of your own papers we may have missed!

www.muni-workshop.com

Dan Garrett @danggarret.bsky.social · Feb 13

The Virtual Municipal Finance Workshop is BACK tomorrow at 11am ET!

Our first seminar for the semester will be Matthias Fleckenstein presenting "Do Municipal Bond Investors Pay a Convenience Premium to Avoid Taxes?" (joint with Francis Longstaff)

Paper+zoom: www.muni-workshop.com
#EconSky

We study the valuation of state-issued tax-exempt municipal bonds and find that there are significant convenience premia in their prices. These premia parallel those identified in Treasury markets. We find evidence that these premia are tax related. Specifically, the premia are related to measures of tax and fiscal uncertainty, forecast flows into state municipal bond funds, and are directly linked to outmigration from high-tax to low-tax states and to other measures of tax aversion such as IRA and retirement plan contributions. These results suggest that investors are willing to pay a substantial premium to avoid taxes.

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Robert N. Stavins @robertstavins.bsky.social · Nov 30

Also, in case you missed my brief commentary on what happened at COP29 in Baku, here it is:

www.robertstavinsblog.org/2024/11/29/w...

What Happened at COP29 in Baku? - An Economic View of the Environment

Having recently returned from the 29th Conference of the Parties (COP29) of the U.N. Framework Convention on Climate Change (UNFCCC), held in Baku, Azerbaijan, I want to offer my personal summary and assessment of the major takeaways from COP29, briefly summarize Harvard’s participation, and offer some thoughts about the path ahead to COP30. Why Azerbaijan? … Continue reading "What Happened at COP29 in Baku?"

www.robertstavinsblog.org

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Ivan T Ivanov @ivantivanov.bsky.social · Nov 24

Love it!

Reposted by Ivan T Ivanov

Bhavyaa Sharma @bhavyaas.bsky.social · Nov 20

Hello #EconSky! I’m Bhavyaa Sharma, a Macro-Finance and Climate Finance #JMC from UC Santa Cruz.

My research focuses on how financial institutions & households navigate climate risks amidst information frictions & behavioral biases.

🌐 Website: www.bhavyaasharma.com

🧵 on my JMP 👇

#EconJMP

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Michael Bauer @michaeldbauer.bsky.social · Nov 20

🚨Call for Papers🚨
Together with the Bank of Canada and the Chicago Fed, we're organizing a Conference on #FixedIncome Research and Implications for #MonetaryPolicy on May 22-23, 2025, in San Francisco. Submissions due by January 31. More details: www.frbsf.org/news-and-med...
#EconSky

Call for Papers: Fixed Income Research and Implications for Monetary Policy - San Francisco Fed

Submissions due by January 31, 2025 for the Fixed Income Research and Implications for Monetary Policy Conference

www.frbsf.org

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Lee Seltzer @leeseltzer.bsky.social · Nov 14

www.newyorkfed.org/research/sta...

Excited to share a new staff report with Jacob Kim-Sherman (who is applying to PhD programs, keep your eyes out admissions committees!)

We study the implications of the tendency for natural disasters to cluster across space and time for economic research #EconSky

Staff Reports

Technical working papers

www.newyorkfed.org

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Jeffrey Lin @jeffrlin.bsky.social · Sep 23

🎤🎤 New Densely Speaking pod featuring @profschleich.bsky.social with @gregshill.bsky.social. Railroads! Cities! Municipal bonds! This episode has it all. We talked about David’s book **In a Bad State: Responding to State and Local Budget Crises.** Listen wherever you get your podcasts.

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Matteo Maggiori @mmaggiori.bsky.social · Nov 16

Amanda Dos Santos (amandadossantos.net) at Columbia Business School is on the job market this year with a great JMP "The Development of Domestic Bond Markets".

Jesse Schreger is the main advisor, and i also wrote a letter.

Amanda Dos Santos

Amanda Dos Santos Welcome! I am a Finance PhD Candidate at Columbia Business School and I am on the job market during the 2024-2025 academic year. You can find my CV here. Research Interests: Interna...

amandadossantos.net

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Princeton Economics @princetonecon.bsky.social · Nov 19

In a recent paper, Owen Zidar (@omzidar.bsky.social), Gabriel Chodorow-Reich, and Eric Zwick asses and draw lessons from the business provisions of the 2017 Tax Cuts and Jobs Act, the biggest corporate tax cut in US history. Read the paper: bit.ly/3ObZOwh

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NBER @nber.org · Sep 11

A study of bank failures in the US from 1865 to 2023 finds that failures are primarily caused by deteriorating fundamentals, rather than bank runs, from Sergio A. Correia, Stephan Luck, and Emil Verner https://www.nber.org/papers/w32907

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