Briefs and Blogs
Liquidity Risk (Mis)Management: The Failure of Silicon Valley Bank and the Liability-Driven Investment Episode in UK Gilt Markets
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Former Golub Senior Fellow, Laura Kodres, discusses the similarities between what happened with British pension funds in autumn 2022 and SVB.
Duration Gap Disclosure: A Modest Proposal to Prevent Another SVB
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Edward Golding and Deborah Lucas discuss a simple policy change that relies primarily on market discipline that would reduce the likelihood of future SVBs.
What is the Social Discount Rate? MIT Economists Weigh In
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In a comment letter to the Office of Management and Budget on Circular A-4 that guides federal agencies in conducting benefit-cost analyses, a dozen MIT professors, many affiliated with the Golub Center for Finance and Policy, offered suggestions [...]
Edward Golding op-ed on FHFA and mortgage risk pricing
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MAY 4 – 2023 “BankThink: No, FHFA is not encouraging a race to the bottom.” Recently, the Federal Housing Finance Agency, acting in its capacity as conservator of Freddie Mac and Fannie Mae, made some modest changes in the pricing of mortgage risk. These modest changes [...]
