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The Philippines Provides Support to Workers in the Informal Economy

May 13, 2020

The Philippines government has included a temporary short-term work program that aims to employ close to 1 million workers in the informal sector in its COVID-19 response package.The TUPAD #BKBK program provides temporary employment opportunities to workers in the informal sector, as these workers are particularly vulnerable to economic hardship due to the COVID-19 pandemic.

Continue reading “The Philippines Provides Support to Workers in the Informal Economy”

News in Systemic Risk: Wednesday, May 13, 2020 (10 a.m. ET)

May 13, 2020

Inflation Expectations in Times of COVID-19 (Olivier Armantier, Gizem Kosar, Rachel Pomerantz, Daphne Skandalis, Kyle Smith, Giorgio Topa, Wilbert van der Klaauw; Federal Reserve Bank of New York)

Macroprudential regulation and leakage to the shadow banking sector (Stefan Gebauer, Falk Mazelis; European Central Bank)

Monetary policy and its transmission in a globalised world (Michele Ca’ Zorzi, Luca Dedola, Georgios Georgiadis, Marek Jarociński, Livio Stracca, Georg Strasser; European Central Bank)

Negative rates and the transmission of monetary policy (Miguel Boucinha and Lorenzo Burlon; European Central Bank)

“The current crisis is a wake-up call” (Andrea Enria; European Central Bank)

Loan supply and bank capital: A micro-macro linkage (Thomas Kick, Swetlana Malinkovich, Christian Merkl; Deutsche Bundesbank)

Real Effects of Uncertainty: Evidence from Brexit (Anna Lipinska, Musa Orak; Federal Reserve Board of Governors)

Continue reading “News in Systemic Risk: Wednesday, May 13, 2020 (10 a.m. ET)”

US Businesses Navigate Multiple Government Support Programs

May 12, 2020

In response to the COVID-19 pandemic, the United States has adopted multiple programs providing support to businesses, specifically targeting job retention, while at the same time expanding unemployment insurance benefits and eligibility. Programs to support businesses vary across types of benefit and eligibility criteria. This post summarizes government support options available to businesses in the United States and some potential considerations for employers and employees.

Continue reading “US Businesses Navigate Multiple Government Support Programs ”

From the Assistant Dean for Admissions: A Unique Community Responds to COVID-19

By: Bruce DelMonico May 12, 2020

If there is one thing that has remained constant in my 15 years at Yale SOM, it’s the spirit of the student body. Graduates leave us each year at commencement and new students join us each year at orientation, but  the heart of the community remains unchanged. If you asked me for one word...

Continue reading “From the Assistant Dean for Admissions: A Unique Community Responds to COVID-19”

News in Systemic Risk: Tuesday, May 12, 2020 (10 a.m. ET)

May 12, 2020

US dollar funding markets during the Covid-19 crisis - the international dimension (Egemen Eren, Andreas Schrimpf, Vladyslav Sushko; Bank of International Settlements)

US dollar funding markets during the Covid-19 crisis - the money market fund turmoil (Egemen Eren, Andreas Schrimpf, Vladyslav Sushko; Bank of International Settlements)

How Did China’s COVID-19 Shutdown Affect U.S. Supply Chains? (Sebastian Heise; Federal Reserve Bank of New York)

Cyclical systemic risk and downside risks to bank profitability (Jan Hannes Lang, Marco Forletta; European Central Bank)

Stressed banks? Evidence from the largest-ever supervisory review (Puriya Abbassi, Rajkamal Iyer, José-Luis Peydró, Paul E. Soto; Deutsche Bundesbank)

Bank resolution frameworks in systemic crises (Thorsten Beck, Deyan Radev, Isabel Schnabel; VoxEU)

A History of Risk-Based Premiums at the FDIC (Edward Garnett, LaVaughn Henry, Daniel Hoople, Ashley Mihalik; Federal Deposit Insurance Corporation)

COVID-19, volatility, and dark trading in financial markets (Gbenga Ibikunle, Khaladdin Rzayev; VoxEU)

The Mortgage Market Never Got Fixed After 2008. Now It’s Breaking Again. (Ben Eisen; Wall Street Journal)

Continue reading “News in Systemic Risk: Tuesday, May 12, 2020 (10 a.m. ET)”

2019-2020 Portfolio Performance Competition Winners Announced

By: Electra Ferriello May 11, 2020
Global Network Investment Competition

The six-month long portfolio performance portion of the Global Network Investment Competition concluded on April 30, 2020. The ICF is excited to announce team Alpha from Business School, Renmin University of China as the winner of the competition! Team Alpha’s portfolio consisted of stocks...

Continue reading “2019-2020 Portfolio Performance Competition Winners Announced”

Governments Support Businesses through Equity Investments

May 11, 2020

In response to the economic shutdown caused by COVID-19, many countries have announced plans to take equity stakes in private businesses. Germany and Poland have announced large-scale programs focused on relatively large companies that the government determines are systemically important. Other countries, like the U.S., have announced equity programs that target critical industries, which we cover in a separate survey. Several countries -- including the U.K., France, and Germany -- have also announced much smaller programs dedicating small sums to startups or small and medium-sized enterprises, as part of broader efforts to support small businesses. 

Continue reading “Governments Support Businesses through Equity Investments”

News in Systemic Risk: Monday, May 11 2020 (10 a.m. ET)

May 11, 2020

Survey on the Access to Finance of Enterprises: Small businesses report challenging outlook for their access to external financing due to COVID-19 (European Central Bank)

The CCP-bank nexus in the time of Covid-19 (Wenqian Huang, Előd Takáts; Bank of International Settlements)

An ECB digital currency – a flight of fancy? (Yves Mersch; European Central Bank)

Global and domestic financial cycles: variations on a theme (Iñaki Aldasoro, Stefan Avdjiev, Claudio Borio, Piti Disyatat; Bank of International Settlements)

COVID-19 and the transmission of shocks through domestic supply chains (Fergal McCann, Samantha Myers; Central Bank of Ireland)

The Initial Labour Market Impact of COVID-19 (Stephen Byrne, Dermot Coates, Enda Keenan,Tara McIndoe-Calder ; Central Bank of Ireland)

The case for permanent stimulus (Paul Krugman; VoxEU)

How the Economy Will Look After the Coronavirus Pandemic (Joseph E. Stiglitz, Robert J. Shiller, Gita Gopinath, Carmen M. Reinhart, Adam S. Posen, Eswar Prasad, Adam Tooze, Laura D’andrea Tyson, Kishore Mahbubani; Foreign Policy)

Despite Recent Bets, Fed Isn’t Likely to Consider Negative Interest Rates (Nick Timiraos; Wall Street Journal)

Fed set to adopt ‘elements’ of price-level targeting (William Towning; Central Banking)

Continue reading “News in Systemic Risk: Monday, May 11 2020 (10 a.m. ET)”

The Philippines Provides Support to Workers in the Informal Economy

May 13, 2020

The Philippines government has included a temporary short-term work program that aims to employ close to 1 million workers in the informal sector in its COVID-19 response package.The TUPAD #BKBK program provides temporary employment opportunities to workers in the informal sector, as these workers are particularly vulnerable to economic hardship due to the COVID-19 pandemic.

Continue reading “The Philippines Provides Support to Workers in the Informal Economy”

News in Systemic Risk: Wednesday, May 13, 2020 (10 a.m. ET)

May 13, 2020

Inflation Expectations in Times of COVID-19 (Olivier Armantier, Gizem Kosar, Rachel Pomerantz, Daphne Skandalis, Kyle Smith, Giorgio Topa, Wilbert van der Klaauw; Federal Reserve Bank of New York)

Macroprudential regulation and leakage to the shadow banking sector (Stefan Gebauer, Falk Mazelis; European Central Bank)

Monetary policy and its transmission in a globalised world (Michele Ca’ Zorzi, Luca Dedola, Georgios Georgiadis, Marek Jarociński, Livio Stracca, Georg Strasser; European Central Bank)

Negative rates and the transmission of monetary policy (Miguel Boucinha and Lorenzo Burlon; European Central Bank)

“The current crisis is a wake-up call” (Andrea Enria; European Central Bank)

Loan supply and bank capital: A micro-macro linkage (Thomas Kick, Swetlana Malinkovich, Christian Merkl; Deutsche Bundesbank)

Real Effects of Uncertainty: Evidence from Brexit (Anna Lipinska, Musa Orak; Federal Reserve Board of Governors)

Continue reading “News in Systemic Risk: Wednesday, May 13, 2020 (10 a.m. ET)”

US Businesses Navigate Multiple Government Support Programs

May 12, 2020

In response to the COVID-19 pandemic, the United States has adopted multiple programs providing support to businesses, specifically targeting job retention, while at the same time expanding unemployment insurance benefits and eligibility. Programs to support businesses vary across types of benefit and eligibility criteria. This post summarizes government support options available to businesses in the United States and some potential considerations for employers and employees.

Continue reading “US Businesses Navigate Multiple Government Support Programs ”

From the Assistant Dean for Admissions: A Unique Community Responds to COVID-19

By: Bruce DelMonico May 12, 2020

If there is one thing that has remained constant in my 15 years at Yale SOM, it’s the spirit of the student body. Graduates leave us each year at commencement and new students join us each year at orientation, but  the heart of the community remains unchanged. If you asked me for one word...

Continue reading “From the Assistant Dean for Admissions: A Unique Community Responds to COVID-19”

News in Systemic Risk: Tuesday, May 12, 2020 (10 a.m. ET)

May 12, 2020

US dollar funding markets during the Covid-19 crisis - the international dimension (Egemen Eren, Andreas Schrimpf, Vladyslav Sushko; Bank of International Settlements)

US dollar funding markets during the Covid-19 crisis - the money market fund turmoil (Egemen Eren, Andreas Schrimpf, Vladyslav Sushko; Bank of International Settlements)

How Did China’s COVID-19 Shutdown Affect U.S. Supply Chains? (Sebastian Heise; Federal Reserve Bank of New York)

Cyclical systemic risk and downside risks to bank profitability (Jan Hannes Lang, Marco Forletta; European Central Bank)

Stressed banks? Evidence from the largest-ever supervisory review (Puriya Abbassi, Rajkamal Iyer, José-Luis Peydró, Paul E. Soto; Deutsche Bundesbank)

Bank resolution frameworks in systemic crises (Thorsten Beck, Deyan Radev, Isabel Schnabel; VoxEU)

A History of Risk-Based Premiums at the FDIC (Edward Garnett, LaVaughn Henry, Daniel Hoople, Ashley Mihalik; Federal Deposit Insurance Corporation)

COVID-19, volatility, and dark trading in financial markets (Gbenga Ibikunle, Khaladdin Rzayev; VoxEU)

The Mortgage Market Never Got Fixed After 2008. Now It’s Breaking Again. (Ben Eisen; Wall Street Journal)

Continue reading “News in Systemic Risk: Tuesday, May 12, 2020 (10 a.m. ET)”

2019-2020 Portfolio Performance Competition Winners Announced

By: Electra Ferriello May 11, 2020
Global Network Investment Competition

The six-month long portfolio performance portion of the Global Network Investment Competition concluded on April 30, 2020. The ICF is excited to announce team Alpha from Business School, Renmin University of China as the winner of the competition! Team Alpha’s portfolio consisted of stocks...

Continue reading “2019-2020 Portfolio Performance Competition Winners Announced”

Governments Support Businesses through Equity Investments

May 11, 2020

In response to the economic shutdown caused by COVID-19, many countries have announced plans to take equity stakes in private businesses. Germany and Poland have announced large-scale programs focused on relatively large companies that the government determines are systemically important. Other countries, like the U.S., have announced equity programs that target critical industries, which we cover in a separate survey. Several countries -- including the U.K., France, and Germany -- have also announced much smaller programs dedicating small sums to startups or small and medium-sized enterprises, as part of broader efforts to support small businesses. 

Continue reading “Governments Support Businesses through Equity Investments”

News in Systemic Risk: Monday, May 11 2020 (10 a.m. ET)

May 11, 2020

Survey on the Access to Finance of Enterprises: Small businesses report challenging outlook for their access to external financing due to COVID-19 (European Central Bank)

The CCP-bank nexus in the time of Covid-19 (Wenqian Huang, Előd Takáts; Bank of International Settlements)

An ECB digital currency – a flight of fancy? (Yves Mersch; European Central Bank)

Global and domestic financial cycles: variations on a theme (Iñaki Aldasoro, Stefan Avdjiev, Claudio Borio, Piti Disyatat; Bank of International Settlements)

COVID-19 and the transmission of shocks through domestic supply chains (Fergal McCann, Samantha Myers; Central Bank of Ireland)

The Initial Labour Market Impact of COVID-19 (Stephen Byrne, Dermot Coates, Enda Keenan,Tara McIndoe-Calder ; Central Bank of Ireland)

The case for permanent stimulus (Paul Krugman; VoxEU)

How the Economy Will Look After the Coronavirus Pandemic (Joseph E. Stiglitz, Robert J. Shiller, Gita Gopinath, Carmen M. Reinhart, Adam S. Posen, Eswar Prasad, Adam Tooze, Laura D’andrea Tyson, Kishore Mahbubani; Foreign Policy)

Despite Recent Bets, Fed Isn’t Likely to Consider Negative Interest Rates (Nick Timiraos; Wall Street Journal)

Fed set to adopt ‘elements’ of price-level targeting (William Towning; Central Banking)

Continue reading “News in Systemic Risk: Monday, May 11 2020 (10 a.m. ET)”