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Podcasts episode·Apr 1, 2025

Crypto’s Fatal Flaw: Trust, Scale, and the Economics of Blockchain

Tess Vigeland and Eric Budish
Crypto’s most groundbreaking innovation, permissionless consensus, may also be its greatest vulnerability. In this episode, Chicago Booth economist Eric Budish...
Topics: Financial Markets, Technology & Innovation
Research Briefs·Jun 17, 2024

Inflation and Trading

Michael Weber, Philip Schnorpfeil, and Andreas Hackethal
Beliefs about how inflation impacts asset returns vary widely across investors, who are often overly optimistic. Information about past returns...
Topics: Monetary Policy
Research Briefs·Jun 12, 2024

Discount Factors and Monetary Policy: Evidence from Dual-Listed Stocks

Quentin Vandeweyer, Minghao Yang, and Constantine Yannelis
Surprise changes in US monetary policy rates directly affect asset prices, with a 100-basis point surprise cut resulting in a...
Topics: Monetary Policy
Research Briefs·May 1, 2024

Access to Credit Reduces the Value of Insurance

Sonia Jaffe, Anup Malani, and Julian Reif
Insurance is less valuable when people can also smooth their spending using loans. Access to a five-year loan decreases the...
Topics: Financial Markets
Research Briefs·Apr 16, 2024

Sticky Discount Rates

Masao Fukui, Niels Gormsen, and Kilian Huber
Firms often keep their nominal discount rates constant even in the face of changing inflation expectations. Increases in expected inflation...
Topics: Monetary Policy
Research Briefs·Apr 11, 2024

On Digital Currencies

Harald Uhlig
In a work summarizing his previous research, the author argues that prices of private digital currencies follow random walks, while...
Topics: Monetary Policy
Research Briefs·Apr 3, 2024

The High Frequency Effects of Dollar Swap Lines

Rohan Kekre and Moritz Lenel
News about expanded dollar swap lines causes a reduction in liquidity premia, compression of deviations from covered interest parity (CIP),...
Topics: Monetary Policy
Research Briefs·Mar 25, 2024

Banks in Space

Ezra Oberfield, Esteban Rossi-Hansberg, Nicholas Trachter, and Derek Wenning
The banking deregulation of the 1980s and 90s provides unique evidence of the way in which banks set up their...
Topics: Financial Markets
Research Briefs·Mar 20, 2024

Do Information Frictions and Corruption Perceptions Kill Competition? A Field Experiment on Public Procurement in Uganda

Emanuele Colonnelli, Francesco Loiacono, Edwin Muhumuza, and Edoardo Teso
Informing companies about opportunities to sell to the government does not increase their participation in public procurement, but enhancing their...
Topics: Monetary Policy