“How Does Household Spending Respond to an Epidemic? Consumption During the 2020 COVID-19 Pandemic” by Scott Ross Baker, Robert Farrokhnia, Steffen Meyer, Michaela Pagel, and Constantine Yannelis “CDS Momentum: Slow Moving Credit Ratings and Cross-Market Spillovers” by Andy Naranjo, Jongsub Lee, and Stace Sirmans “The Unprecedented Stock Market Reaction to COVID-19” by Scott Ross Baker, Nicholas Bloom, Steven J Davis, Kyle Kost, Marco Sammon, and Tasaneeya Viratyosin
The COVID-19 pandemic induced an unprecedented “stress test” on the financial system and the ability of banks to supply liquidity to the real economy. A new paper by Lei Li, Phil Strahan, and Song Zhang entitled “Banks as Lenders of First Resort: Evidence from the COVID-19 Crisis” starts with the following important observation: In the last three weeks of March 2020, banks… Read More »Paper Spotlight: Banks as Lenders of First Resort: Evidence from the COVID-19 Crisis
We are pleased to share that the RFS impact factor for 2019 is 4.649 and the 5-year Impact Factor is 7.100 (Clarivate, 2020). These results are among the highest in RFS history and among the top ones in the field. OUP has granted temporary free access to some of RFS’s most cited papers.
On July 1, Antoinette Schoar became the SFS President and Wei Jiang became the SFS Vice President. Antoinette Schoar is the Stewart C. Myers-Horn Family Professor of Finance and Entrepreneurship at the MIT Sloan School of Management. She also served in chairing roles for SFS Cavalcade North America from 2017-2019. Wei Jiang is the Arthur F. Burns Professor of Free and Competitive Enterprise at Columbia Business School. She was an… Read More »SFS President and Vice President
Josef Zechner completed his term as Vice President on June 30. Before serving as Vice President, Josef was on the Council. Tarun Ramadorai completed his term on the Council on June 30. He has taken on an editor role at RFS, and previously served as an associate editor at RFS. We are grateful to Josef and Tarun for their service. Craig Holden has been renewed as Secretary/Treasurer. He… Read More »Council Changes
We are extremely grateful to Laura Starks, who completed her role as SFS President on June 30. Since 1997, Laura has served in five different roles across the SFS and our journals. Her guidance and commitment have been invaluable. Prior to serving as President, Laura was SFS Vice President, SFS Council Chair, an editor of RFS, and an associate editor of RFS. We thank her for her dedication.
One major lesson from the 2008-09 financial crisis that subsequently shaped in part the regulatory framework that emerged in the last decade was that downgrades of securities occurring in an interconnected financial system create a need for capital relief for regulated entities. This happens because banks’ and insurers’ capital requirements are based on credit ratings. The question is what kind of short-term and long-term incentives arise from such relief programs.… Read More »Paper Spotlight: Rethinking the Use of Credit Ratings in Capital Regulations: Evidence From the Insurance Industry
Videos of the keynotes and paper presentations at Cavalcade North America 2020 are now available on the Cavalcade web site. Our thanks to the Kelley Learning Media team at the Kelley School of Business at Indiana University for preparing the videos.
The video of Campbell Harvey’s keynote presentation at Cavalcade North America 2020 can now be viewed on the Cavalcade web site.
The video of Thomas Philippon’s keynote presentation at Cavalcade North America 2020 can now be viewed on the Cavalcade web site.
