Yale School of Management

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COVID-19 and Insurance (1 of 3): Helping Individuals and Businesses

June 15, 2020
Insurance companies face unusual challenges during the COVID-19 crisis. This blog describes efforts by companies and their supervisors to: Reduce financial burdens on insurance customers, for example, by allowing them to defer premium payments.  Resolve the controversy over whether existing insurance coverage extends to businesses that have lost revenue during the crisis. Continue reading “COVID-19 and Insurance (1 of 3): Helping Individuals and Businesses”

News in Systemic Risk: Monday, June 15, 2020 (10 a.m. ET)

June 15, 2020
Monetary Policy Report submitted to the Congress on June 12, 2020, pursuant to section 2B of the Federal Reserve Act (Federal Reserve Board of Governors) Combating COVID-19: How Should Banking Supervisors Respond? (Tobias Adrian,  Ceyla Pazarbasioglu; International Monetary Fund) The Costs of Macroprudential Deleveraging in a Liquidity Trap (Jiaqian Chen, Daria Finocchiaro, Jesper Lindé, Karl Walentin; International Monetary Fund) Why Did Public Banks Lend More During the Global Financial Crisis? (Joshua Bosshardt, Eugenio M Cerutti; International Monetary Fund) Assessing the Resiliency of Non-DFAST Banks to a Financial Shock (Kevin Kiernan, Cindy Vojtech; Federal Reserve Board of Governors) Bank Heterogeneity and Financial Stability (Itay Goldstein, Alexandr Kopytov, Lin Shen, Haotian Xiang; National Bureau of Economic Research) Chile Rolls Out Its Third Multi-Billion Dollar Covid-19 Stimulus (Valentina Fuentes, Philip Sanders; Bloomberg) BOE Gets Negative Rates Advantage by Watching Others Go First (David Goodman, Lucy Meakin; Bloomberg) New York Fed to tighten repo operations (CentralBanking) Continue reading “News in Systemic Risk: Monday, June 15, 2020 (10 a.m. ET)”

From the Associate Director of Admissions: A Timeline for Applying This Year

By: Emily Whitehouse June 15, 2020

While we are still a few months away from the start of the admissions cycle for the Master’s Degree in Asset Management program, I know that many prospective applicants are beginning to think about the application process. The summer is an ideal time to begin considering the next step in your...

Continue reading “From the Associate Director of Admissions: A Timeline for Applying This Year”

News in Systemic Risk: Friday, June 12, 2020 (10 a.m. ET)

June 12, 2020
How Fed Swap Lines Supported the U.S. Corporate Credit Market amid COVID-19 Strains (Nicola Cetorelli, Linda S. Goldberg, Fabiola Ravazzolo; Federal Reserve Bank of New York) Introductory Statement (Andrea Enria; European Central Bank) Wall Street vs. Main Street QE (Eric R. Sims, Jing Cynthia Wu; National Bureau of Economic Research) Interview with Il Sole 24 Ore (Phillip R. Lane; European Central Bank) Fixing a Dollar Funding Crisis for Free (Mike Bird; Wall Street Journal) Emerging-Market Debt Crisis Brews as State Firms Need Rescue ( Michelle Jamrisko, Anirban Nag, Karlis Salna; Bloomberg) Continue reading “News in Systemic Risk: Friday, June 12, 2020 (10 a.m. ET)”

Unemployment Insurance and Short-Time Compensation in the US and abroad

June 11, 2020
To address the COVID-19 pandemic, governments around the world recently placed restrictions on business activities, in many cases ordering non-essential businesses to close and workers to stay at home. In many countries this led to a rapid decline in labor demand. In the US the Bureau of Labor Statistics (BLS) reported the highest unemployment rate since the Great Depression in April with a national rate of 14.7, an 11 percentage point increase from the historical low of 3.5 percent reported two months before. Nevada reported the highest rate in the country at 28.2 percent, up from 6.3 percent in March, while the lowest rate was reported in Connecticut at 7.9 percent, still more than a twofold increase from 3.7 percent reported in March. In May, the labor market began to show the first signs of recovery as  some states reopened their economies; the unemployment rate dropped to 13.3 percent. Continue reading “Unemployment Insurance and Short-Time Compensation in the US and abroad”

COVID-19 and Insurance (1 of 3): Helping Individuals and Businesses

June 15, 2020
Insurance companies face unusual challenges during the COVID-19 crisis. This blog describes efforts by companies and their supervisors to: Reduce financial burdens on insurance customers, for example, by allowing them to defer premium payments.  Resolve the controversy over whether existing insurance coverage extends to businesses that have lost revenue during the crisis. Continue reading “COVID-19 and Insurance (1 of 3): Helping Individuals and Businesses”

News in Systemic Risk: Monday, June 15, 2020 (10 a.m. ET)

June 15, 2020
Monetary Policy Report submitted to the Congress on June 12, 2020, pursuant to section 2B of the Federal Reserve Act (Federal Reserve Board of Governors) Combating COVID-19: How Should Banking Supervisors Respond? (Tobias Adrian,  Ceyla Pazarbasioglu; International Monetary Fund) The Costs of Macroprudential Deleveraging in a Liquidity Trap (Jiaqian Chen, Daria Finocchiaro, Jesper Lindé, Karl Walentin; International Monetary Fund) Why Did Public Banks Lend More During the Global Financial Crisis? (Joshua Bosshardt, Eugenio M Cerutti; International Monetary Fund) Assessing the Resiliency of Non-DFAST Banks to a Financial Shock (Kevin Kiernan, Cindy Vojtech; Federal Reserve Board of Governors) Bank Heterogeneity and Financial Stability (Itay Goldstein, Alexandr Kopytov, Lin Shen, Haotian Xiang; National Bureau of Economic Research) Chile Rolls Out Its Third Multi-Billion Dollar Covid-19 Stimulus (Valentina Fuentes, Philip Sanders; Bloomberg) BOE Gets Negative Rates Advantage by Watching Others Go First (David Goodman, Lucy Meakin; Bloomberg) New York Fed to tighten repo operations (CentralBanking) Continue reading “News in Systemic Risk: Monday, June 15, 2020 (10 a.m. ET)”

From the Associate Director of Admissions: A Timeline for Applying This Year

By: Emily Whitehouse June 15, 2020

While we are still a few months away from the start of the admissions cycle for the Master’s Degree in Asset Management program, I know that many prospective applicants are beginning to think about the application process. The summer is an ideal time to begin considering the next step in your...

Continue reading “From the Associate Director of Admissions: A Timeline for Applying This Year”

News in Systemic Risk: Friday, June 12, 2020 (10 a.m. ET)

June 12, 2020
How Fed Swap Lines Supported the U.S. Corporate Credit Market amid COVID-19 Strains (Nicola Cetorelli, Linda S. Goldberg, Fabiola Ravazzolo; Federal Reserve Bank of New York) Introductory Statement (Andrea Enria; European Central Bank) Wall Street vs. Main Street QE (Eric R. Sims, Jing Cynthia Wu; National Bureau of Economic Research) Interview with Il Sole 24 Ore (Phillip R. Lane; European Central Bank) Fixing a Dollar Funding Crisis for Free (Mike Bird; Wall Street Journal) Emerging-Market Debt Crisis Brews as State Firms Need Rescue ( Michelle Jamrisko, Anirban Nag, Karlis Salna; Bloomberg) Continue reading “News in Systemic Risk: Friday, June 12, 2020 (10 a.m. ET)”

Unemployment Insurance and Short-Time Compensation in the US and abroad

June 11, 2020
To address the COVID-19 pandemic, governments around the world recently placed restrictions on business activities, in many cases ordering non-essential businesses to close and workers to stay at home. In many countries this led to a rapid decline in labor demand. In the US the Bureau of Labor Statistics (BLS) reported the highest unemployment rate since the Great Depression in April with a national rate of 14.7, an 11 percentage point increase from the historical low of 3.5 percent reported two months before. Nevada reported the highest rate in the country at 28.2 percent, up from 6.3 percent in March, while the lowest rate was reported in Connecticut at 7.9 percent, still more than a twofold increase from 3.7 percent reported in March. In May, the labor market began to show the first signs of recovery as  some states reopened their economies; the unemployment rate dropped to 13.3 percent. Continue reading “Unemployment Insurance and Short-Time Compensation in the US and abroad”