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Reposted by Sydney C. Ludvigson

ymschindler.bsky.social
New here and happy to share my job market paper!
"Bad Bank, Bad Luck? Evidence from 1 Million Firm-Bank Relationships"

We build a large novel dataset on US firm-bank relationships to ask the question “How do bank failures affect small business survival and employment?”

A🧵summarizing our findings:
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Reposted by Sydney C. Ludvigson

laura-veldkamp.bsky.social
Thank you Deepak for a thoughtful interview on the economic role of data. We covered growth, competition, asset valuation, measurement. #EconTwitter
YouTube: tinyurl.com/bdpuv9cc
Apple: tinyurl.com/57r65fer
Amazon: tinyurl.com/yc6fy9xe
Audible: tinyurl.com/48mezsxd
SoundCloud: tinyurl.com/u6fdvwmm
The Future of Data in Economics: Prof. Laura Veldkamp’s Key Insights from 'The Data Economy.'
Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.
tinyurl.com
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by Sydney C. Ludvigson

sydneyludvigson.bsky.social
Compelling new evidence. In terms of regulatory implications, how to handle moral hazards?
ymschindler.bsky.social
Yannick Schindler @ymschindler.bsky.social · Dec 6
New here and happy to share my job market paper!
"Bad Bank, Bad Luck? Evidence from 1 Million Firm-Bank Relationships"

We build a large novel dataset on US firm-bank relationships to ask the question “How do bank failures affect small business survival and employment?”

A🧵summarizing our findings:

Reposted by Sydney C. Ludvigson

bwaber.bsky.social
Next was an informative discussion with @camelia-kuhnen.bsky.social on the monthly BLS numbers at the Kenan Institute of Private Enterprise www.youtube.com/watch?v=vsUs... (10/13)
Kenan Institute Economic Briefing: Season of Good Cheer?
YouTube video by UNC Kenan Institute
www.youtube.com
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by Sydney C. Ludvigson

sydneyludvigson.bsky.social
this can lead markets to underreact to the news even when investors overreact to all perceived shocks. Again any comments or reactions/ideas on how to improve this work from behavioral experts would be great.

by Sydney C. Ludvigson

sydneyludvigson.bsky.social
And in www.sydneyludvigson.com/s/beliefs_ml... (still a work in progress--thanks to @profstefannagel.bsky.social for comments) we find that real-world news events is a mixture of conflicting signals with counteracting market implications
www.sydneyludvigson.com
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by Sydney C. Ludvigson

sydneyludvigson.bsky.social

Some findings so far:
From www.sydneyludvigson.com/s/biases_aer... professional forecasters (even more so than households!) place too much weight on the private or judgmental component of their forecasts and too little weight on objective, publicly available economic information.
www.sydneyludvigson.com
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by Sydney C. Ludvigson

sydneyludvigson.bsky.social
Since then we have been working to understand how real-world agents form expectations in macro and finance settings using machine learning to find departures from rationality. We welcome comments and ideas on our findings, approach (anything!) as we continue to think about these problems.
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by Sydney C. Ludvigson

sydneyludvigson.bsky.social
"As we address issues of contemporary economic importance, we would do well to acknowledge the enormous complexity of real-world problems economic players face and the possibility that the fully rational outcome is an unattainable theoretical construct... "
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by Sydney C. Ludvigson

sydneyludvigson.bsky.social
We were then pushed by reviewers to show that our equilibrium was characterized by full rationality. This led to a bunch of checks a long discussion and (that got buried in Appendix G) culminating in the caution:
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by Sydney C. Ludvigson — Reposted by Sydney C. Ludvigson

sydneyludvigson.bsky.social
great discussion.

In www.sydneyludvigson.com/s/hwcJPE.pdf
we discuss our approx of the joint distr of individuals w/ asset prices as state variables, since dist matters only insofar as it affects asset prices.

#EconSky
@bengolub.bsky.social @benmoll.bsky.social @aleximas.bsky.social
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by Markus K. Brunnermeier — Reposted by Sydney C. Ludvigson

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