Leland D. Crane, Emily Green, Molly Harnish, Will McClennan, Paul E. Soto, Betsy Vrankovich, and Jacob WilliamsWe explore a new source of data on layoffs: timely 8-K filings with the Securities and and Exchange Commission. We develop measures of both the number of reported layoff events and the number of affected workers.
Simon Firestone, Nathan Godin, Akos Horvath, Jacob SagiWe use model-implied volatility to proxy for property risk perceptions in the commercial real estate lending market. Although loan-to-value ratios (LTVs) unconditionally decreased following the Global Financial Crisis, LTVs conditioned on implied volatility and other theoretically motivated fundamental determinants of optimal leverage show no conclusive trend before or after the crisis.
Ben Ost, Weixiang Pan, and Douglas WebberWe examine how a student’s field of degree and institution attended contribute to the labor market outcomes of young graduates. Administrative panel data that combines student transcripts with matched employer-employee records allow us to provide the first decomposition of premia into individual and firm-specific components.
Benjamin N. Dennis, Talan B. İşcan
The Working Group on Sterling Risk-Free Reference Rates, which is comprised of a diverse set of market participants, is working to assist in finalising the transition away from LIBOR.
The Bank of England has appointed Ernst and Young LLP (EY) as its external auditor from the financial year ending 28 February 2025.
Meeting of the CBDC Academic Advisory Group
David Glancy, Robert J. Kurtzman, and Lara LoewensteinWe use microdata on the phases of commercial construction projects to document three facts regarding time-to-plan lags: (1) plan times are long—about 1.5 years on average—and highly variable, (2) roughly one-third of projects are abandoned in planning, (3) property price appreciation reduces the likelihood of abandonment.
Meeting of the CBDC Technology Forum
Meeting of the CBDC Technology Forum
