No Image

Finance and Econ From the Web: Peak Oil Demand, Selfishness and Partisanship, Overstated Private Equity Returns

November 12, 2018 Bilal 0

Back to regular service for my weekly reviews of online articles. This week, I lean a bit more to politics with pieces on the flaws in the US primary system of nominating candidates, modernity and political identity and Euro-area reform. On the econ side, there are pieces on why investment in cloud services is under-reported, the lower bound on EM monetary policy and some geeky pieces on rates/FX risk premium. Oh and some fun pieces that include which law schools are “under-ranked”. Enjoy. Structural Economics (5) The Scandinavian Style of Capitalism Provides a more balanced perspective of the Scandi model […]

No Image

Best Of the Web: Never-Ending Chewing Gun, Drone Taxis and China To Launch A “Moon”…

October 18, 2018 Bilal 0

There were some really good free articles available across the internet over the past week. One site started to feature books of the decades starting with the 1900s, another gives an excellent analysis on the coming tech war between the FANGS to win our houses, then there’s an essay on how the Silicon Valley super-rich are using a loophole from Trump’s bill to lower their tax bills and even one on how to live off-grid. As usual I have a broad range of articles, so make sure you scroll to the bottom. Food and Drink Section (3) Unlimited Electric Gum: […]

No Image

Finance and Econ From the Web: True Net Worth Of Countries, US’s Digital Trade Zone, Cities As the Future

October 16, 2018 Bilal 0

This week, I have a varied selection of articles including a bunch on cities. Additionally, there a few on how US monetary policy may not work as fast you think, some new sovereign risk measures from the ECB, the UK’s Brexit experience from Roman times, China’s rich list and much much more. Enjoy.   Tech and Intangible Economy (8) America Is Losing Its Edge for Startups It used to be that 95 percent of global startup and venture-capital activity happened in the U.S. Today, it’s just over one-half.This mainly because of China over the past few years.

No Image

Best Of the Web: Better Sleep, An App To Sue, Most Trusted News Source..

October 11, 2018 Bilal 0

There were lots and lots of great articles this week, so I’ve featured a bit more than usual. There are some good analyses on Facebook, tech evolution and some crazy apps. I’ve got some great guides to various cities, including the world’s best bars. Then there are some fun features on Japan’s new bullet train, an amazing academic hoax and new plans for a JFK airport upgrade. Enjoy Department Of Health (8) Experts Answered Every Question We’ve Ever Had About Sleep Covers all bases. Discovered that sleeping pills sedate you rather than make you sleep. Best tip for sleeping well […]

No Image

Finance and Econ From the Web: Climate Shock, Which Countries Will Gain From AI, Amazon Effect On US Prices…

October 9, 2018 Bilal 0

Some big reports came out this week from the IMF, IPCC (climate change), McKinsey and the US military – all have a bearing on global macro. And as usual I find a bunch of other relevant articles ranging from monetary policy to inequality.   Climate Change and the Environment Global Warming of 1.5 °C The Intergovernmental Panel on Climate Change (IPCC) just released its latest report. We have 12 years to go before we hit the critical 1.5 degree increase in global warming (see chart at top of email), which could see some extreme weather effects. The report is very […]

No Image

Best Of the Web: Disrupting the Internet, Saving Your Teenagers, Best Skill For Next 50 years..

October 4, 2018 Bilal 0

I’ve gone through piles and piles of articles and found the best from this week. I have some guides to TV and restaurants, some fascinating angles on  the web, and some good stuff on personal development and parenting tips. Enjoy! Surgery Of Self-help The Most Important Survival Skill for the Next 50 Years Isn’t What You Think Yuval Noah Harari (“Sapiens”, “Homo Deus”) explains why the best preparation is not learning code, but rather developing mental flexibility

No Image

Best Of the Web: Top Restaurants In NY/Lon/Asia, Your Second Brain and That Street Fighter Game…

September 28, 2018 Bilal 0

I’ve scoured the web and gleaned over 50 great articles. More of a health and social scene vibe in this edition and some really funny articles. Enjoy. Ministry Of the Rich (4) Rich people are to blame for the rise of Lyme disease  The disease causes symptoms like swollen lymph nodes, fatigue and attacks on joints, muscles and even the brain. It causes by bacteria carried by ticks that thrive on forest left behind between developed lots. The edge between city and land provides the perfect shading and plant growth for these ticks. And it’s rich people who ask for […]

No Image

Finance and Econ From the Web: Cyber Attack As Next Crisis, Bernanke vs Krugman and Chinese Inequality…

September 24, 2018 Bilal 0

Here’s my latest selection of articles from the around web (with no paywalls). Some are columns, others are papers, but I provide a brief summary for each. If I missed anything good, please let me know.   TECH AND THE ECONOMY (5) How a Cyber Attack Could Cause the Next Financial Crisis Harvard Business Reviews provides some scenarios and should be read with this Big Data and Machine Learning Won’t Save Us from Another Financial Crisis Fintech credit markets around the world: size, drivers and policy issues Useful summary from the BIS on the  state-of-play of fintech credit. China is […]

No Image

Best Of the Web: Natural Hair Re-Growth, New Apple iOS and “The Rock” As President…

September 20, 2018 Bilal 0

I’ve gone through hundreds and hundreds of articles and picked out the best. There’s 40 in all with links and brief summaries. Enjoy! The new iPhone iOS upgrade is great… 19 Things You Can Do in iOS 12 That You Couldn’t Do Before The update has a bunch of new features from the “Memojis” (you create your own emojis) to better battery life and notification management to the ability to track how much time to spend on your phone (ScreenTime).I particularly like (9), which  is the new app called “Measure” that allows you to use the in-built AR to point […]

No Image

Finance and Econ From the Web: Night lights measure growth, why are rates so low, are bankers liberals or conservatives….

September 19, 2018 Bilal 0

I thought I’d have a separate “Best Of the Web” devoted to economics and finance. Below I’ve found 30 articles and academic papers on macro and finance. Some are easy reads and others are denser, but I’ve summarised each one. Oh, if you come across anything interesting that I’ve  missed, then flag it to me and I’ll include it in my next list.  Enjoy! North and South Korea at night , 1992 vs 2008

No Image

18 topics badly explained by many Finance Professors by Pablo Fernandez :: SSRN

November 12, 2018 Bilal 0

18 topics badly explained by many Finance Professors by Pablo Fernandez :: SSRN https://ift.tt/2z4n3lO 18 topics badly explained by many Finance Professors 22 Pages Posted: Date Written: October 20, 2018 Abstract This paper addresses 18 finance topics that are badly explained by many Finance Professors. The topics are: 1. Where does the WACC equation come from? 2. The WACC is not a cost. 3. The WACC equation when the value of debt is not equal to its nominal value. 4. The term equity premium is used to designate four different concepts. 5. Textbooks differ a lot on their recommendations regarding […]

No Image

Nowcasting New Zealand GDP using machine learning algorithms, by Adam Richardson; Thomas van Florenstein Mulder; Tugrul Vehbi

November 12, 2018 Bilal 0

Nowcasting New Zealand GDP using machine learning algorithms, by Adam Richardson; Thomas van Florenstein Mulder; Tugrul Vehbi https://ift.tt/2OBSg4E Author Abstract This paper analyses the real-time nowcasting performance of machine learning algorithms estimated on New Zealand data. Using a large set of real-time quarterly macroeconomic indicators, we train a range of popular machine learning algorithms and nowcast real GDP growth for each quarter over the 2009Q1-2018Q1 period. We compare the predictive accuracy of these nowcasts with that of other traditional univariate and multivariate statistical models. We find that the machine learning algorithms outperform the traditional statistical models. Moreover, combining the individual […]

No Image

An Economist’s Guide to Climate Change Science

November 12, 2018 Bilal 0

An Economist’s Guide to Climate Change Science https://ift.tt/2qfPY1l An Economist’s Guide to Climate Change Science NBER Working Paper No. 25189 Issued in October 2018 NBER Program(s):Development Economics, Environment and Energy Economics, Economic Fluctuations and Growth, Health Economics, International Trade and Investment, Labor Studies, Public Economics, Political Economy, Productivity, Innovation, and Entrepreneurship Climate change management is a global challenge that requires social science as much as it requires natural science. We provide a brief introduction to the physical science of climate change, written to provide essential background for economists and other social scientists. We also highlight some key areas in which […]

No Image

Macroeconomic Effects of China’s Financial Policies

November 12, 2018 Bilal 0

Macroeconomic Effects of China’s Financial Policies https://ift.tt/2JQtr45 Macroeconomic Effects of China’s Financial Policies NBER Working Paper No. 25222 Issued in November 2018 NBER Program(s):Development Economics, Economic Fluctuations and Growth, Monetary Economics The Chinese economy has undergone three major phases: the 1978-1997 period marked as the SOE-led economy, the 1998-2015 phase as the investment-driven economy, and the new normal economy since 2016. All three economies have been shaped by the government’s financial policies, defined as a set of credit policy, monetary policy, and regulatory policy. We analyze the macroeconomic effects of these financial policies throughout the three phases and provide the […]

No Image

The Expansionary Lower Bound: Contractionary Monetary Easing and the Trilemma

November 12, 2018 Bilal 0

The Expansionary Lower Bound: Contractionary Monetary Easing and the Trilemma https://ift.tt/2JzTsVk The Expansionary Lower Bound: Contractionary Monetary Easing and the Trilemma Author/Editor: Paolo Cavallino ; Damiano Sandri Publication Date: November 2, 2018 Electronic Access: Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management. Summary: We provide […]

No Image

Private Equity Indices Based on Secondary Market Transactions

November 12, 2018 Bilal 0

Private Equity Indices Based on Secondary Market Transactions https://ift.tt/2qvstRO Private Equity Indices Based on Secondary Market Transactions NBER Working Paper No. 25207 Issued in November 2018 NBER Program(s):Asset Pricing, Corporate Finance Measuring the performance of private equity investments (buyout and venture) has historically only been possible over long horizons because the IRR on a fund is only observable following the fund’s final distribution. We propose a new approach to evaluating performance using actual prices paid for limited partner shares of funds in secondary markets. We construct indices of buyout and venture capital performance using a proprietary database of secondary market […]

No Image

Firm R&D Investment and Export Market Exposure

November 12, 2018 Bilal 0

Firm R&D Investment and Export Market Exposure https://ift.tt/2Qls2Fl Firm R&D Investment and Export Market Exposure NBER Working Paper No. 25228 Issued in November 2018 NBER Program(s):International Trade and Investment, Productivity, Innovation, and Entrepreneurship In this article we study differences in the returns to R&D investment between firms that sell in international markets and firms that only sell in the domestic market. We use German firm-level data from the high-tech manufacturing sector to estimate a dynamic structural model of a firm’s decision to invest in R&D and use it to measure the difference in expected long-run benefit from R&D investment for […]

No Image

Legal clauses and sovereign bond pricing in the euro area

November 12, 2018 Bilal 0

Legal clauses and sovereign bond pricing in the euro area https://ift.tt/2PctLA8 Sovereign bond pricing in the euro area: When legal clauses matter The discussion on sovereign debt restructuring in the euro area has recently focused on legal considerations, in particular on whether the legal framework should be reformed to make restructurings more ‘viable’, for example via new collective action clauses (Bénassy-Quéré et al. 2018, Tabellini 2018, Pisani-Ferry and Zettelmeyer 2018).  Should sovereign debts in Europe be ‘hard’ or ‘easy’ to restructure? The fundamental trade-off behind this question is well understood, at least theoretically (e.g. Bolton and Jeanne 2007, 2009, Pitchford […]

No Image

International Yield Curves and Currency Puzzles

November 12, 2018 Bilal 0

International Yield Curves and Currency Puzzles https://ift.tt/2JK4UOk International Yield Curves and Currency Puzzles NBER Working Paper No. 25206 Issued in November 2018 NBER Program(s):Asset Pricing, International Finance and Macroeconomics The depreciation rate is often computed as the ratio of foreign and domestic pricing kernels. Using bond prices alone to estimate these kernels leads to currency puzzles: the inability of models to match violations of uncovered interest parity and the volatility of exchange rates. One cannot use information in bonds alone because exchange rates are not spanned by bonds. This view of the puzzles is distinct from market incompleteness. Incorporating exchange […]