Cologne Institute for Economic Research

Mina Foundation Welcomes Harvard Finance Professor Marco Di Maggio to its Board

Retrieved on:

Thursday, January 12, 2023

SAN FRANCISCO, Jan. 12, 2023 /PRNewswire-PRWeb/ -- The Mina Foundation, the public benefit corporation serving the Mina Protocol, announces the addition of Harvard Business School (HBS) Finance Professor to its board. Di Maggio is the Director of the Fintech, Crypto and Web3 Lab at Harvard University which supports students in exploring and studying Web3 technologies. He is also a faculty research fellow at the National Bureau of Economic Research and a Coinbase Institute Advisory board member.

Key Points:

Marco Di Maggio joins the Mina Foundation board, bringing his experience as Director of the newly created Harvard's Fintech, Crypto and Web3 Lab to the Mina Ecosystem.
SAN FRANCISCO, Jan. 12, 2023 /PRNewswire-PRWeb/ -- The Mina Foundation, the public benefit corporation serving the Mina Protocol , announces the addition of Harvard Business School (HBS) Finance Professor to its board.
Other current board members include Former Executive Director at Zcash Foundation Josh Cincinnati, former Crypto Engineering Lead at Twitter Tess Rinearson, CEO of Mina Foundation Evan Shapiro, and General Counsel of Mina Foundation Joon Kim.
CEO of Mina Foundation and Co-Founder of the Mina Protocol Evan Shapiro expressed, "The addition of Marco Di Maggio to the Mina Foundation board shows that our approach to prioritizing a web powered by participants continues to attract leading experts like Di Maggio from top institutions.

The safe asset potential of EU-issued bonds

Retrieved on:

Saturday, January 21, 2023

The lack of euro-denominated safe assets and the fragmentation of the market are problematic.

Key Points:

The lack of euro-denominated safe assets and the fragmentation of the market are problematic.
In the absence of a supranational euro-denominated safe asset, a flight to safety would entail capital flowing out of vulnerable countries and into safe havens.
Both initiatives were proposed in the context of the EU’s response to the recession in the wake of the coronavirus (COVID-19) pandemic.
As of December 2021, the amount of outstanding EU bonds had grown to €215 billion in total.
The first SURE bonds were issued in October 2020, while the first NGEU bonds were issued in June 2021.
By 2028 NGEU volumes are foreseen to reach €800 billion, more than twelve times the level in December 2021.
Including the approved funding for other smaller programmes, the total available amount of EU bonds is set to exceed €1 trillion by 2028.
This stability of EU yield spreads does not mean that EU bonds will automatically become a supranational euro-denominated safe asset.
A safe asset is traded in liquid markets.
Market liquidity ensures that investors can sell their asset at any time without causing a major change in the market price.
(2022) we also argue that a safe asset’s market liquidity should be sufficiently high to accommodate central banks’ monetary policy operations.
Finally, the perception of EU bonds as safe assets also hinges on the continuation of their favourable regulatory treatment.
For such an instrument to be viable, a deep and liquid repo market would need to evolve first.

Systemic risk and policy interventions: monetary and macroprudential policy

Retrieved on:

Friday, November 11, 2022

Note: The chart displays the distribution of output as a share of output in the absence of macroprudential policy measures, i.e.

Key Points:

Note: The chart displays the distribution of output as a share of output in the absence of macroprudential policy measures, i.e.
The green bars report the distribution in the absence of macroprudential policy measures, while the blue bars depict the same distribution when macroprudential policy measures are used optimally.
But going back to our initial questions, how do macroprudential policies interact with monetary policy?
However, as long as macroprudential policy is effective, most models suggest that monetary policy should stick to its traditional objective of price stability (see Angelini et al.
In principle, therefore, the traditional Tinbergen rule (of having a separate policy [tool/instrument] for each policy target) applies: macroprudential policy can focus on systemic risk whereas monetary policy can focus on keeping inflation stable and on target.
This being the case, there is an argument for monetary policy to play a macroprudential role (e.g.
Although it varies across models, this macroprudential role of monetary policy takes the general form of leaning against the wind to contain systemic risk during the build-up phase and cleaning up by a relative loosening of policy during financial crises to speed up the recovery.
Although the conceptual case for monetary policy to play a macroprudential role seems clear, there is much less consensus on the practical implications.
All in all, the view that emerges is that there are trade-offs associated with the use of monetary policy to contain systemic risk.
A prudential use of monetary policy may help contain systemic risk but doing so may entail sacrificing some price stability.
Should monetary policy to some extent give up on steering inflation in order to reduce systemic risk?

EQS-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK - Normalisation of sales and earnings development during the third quarter of the fiscal year 2022

Retrieved on:

Saturday, October 22, 2022

Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK - Normalisation of sales and earnings development during the third quarter of the fiscal year 2022

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Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK - Normalisation of sales and earnings development during the third quarter of the fiscal year 2022
The issuer is solely responsible for the content of this announcement.
Despite all the adverse conditions, LUDWIG BECK recorded a positive trend in the third quarter.
In the third quarter alone, LUDWIG BECK achieved gross sales of 22.4m at the group level compared to 19.8m in the previous year.
While LUDWIG BECK is currently still within the forecast earnings range for 2022, the last quarter will also be decisive for the results of the traditional Munich company.

Barclays Hires Marc Giannoni as Chief US Economist

Retrieved on:

Tuesday, September 6, 2022

Barclays has appointed Marc Giannoni as Managing Director and Chief US Economist for Research.

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Barclays has appointed Marc Giannoni as Managing Director and Chief US Economist for Research.
Giannoni is based in New York and reports to Christian Keller, Head of Economics Research.
Prior to the Dallas Fed, Giannoni worked for the Federal Reserve Bank of New York for more than eight years, focusing on macroeconomic and monetary topics.
We are delighted to welcome Marc to Barclays and our global Research team, Keller said.

PraSaga Announces Appointment of Senior Economic Advisor, Monetary Policy and Sponsorship of Chamber of Digital Commerce Blockchain Summit 2022

Retrieved on:

Monday, May 23, 2022

WASHINGTON, May 23, 2022 /PRNewswire/ -- PraSaga™, a Swiss foundation building the next generation of Layer One blockchain, today announced the appointment of Professor Lawrence H. White as its Senior Economic Advisor, Monetary Policy. The announcement comes ahead of the Chamber of Digital Commerce. Blockchain Summit on May 24th in Washington, D.C., where PraSaga is a sponsor. White will be attending the Summit to discuss the future of blockchain and crypto policy with prominent Senators and SEC Commissioners. https://metaentertainmentworld.com/

Key Points:

Blockchain Summit on May 24th in Washington, D.C., where PraSaga is a sponsor.
White will be attending the Summit to discuss the future of blockchain and crypto policy with prominent Senators and SEC Commissioners.
https://metaentertainmentworld.com/
In his new role, White will be developing a robust monetary policy mechanism for PraSaga's SagaCoin.
White will be attending the Chamber of Digital Commerce's Blockchain Summit in Washington D.C. alongside PraSaga Chief Economist, Stephen Moore, and PraSaga CTO, David Beberman.

PraSaga Announces Appointment of Senior Economic Advisor, Monetary Policy and Sponsorship of Chamber of Digital Commerce Blockchain Summit 2022

Retrieved on:

Monday, May 23, 2022

WASHINGTON, May 23, 2022 /PRNewswire/ -- PraSaga™, a Swiss foundation building the next generation of Layer One blockchain, today announced the appointment of Professor Lawrence H. White as its Senior Economic Advisor, Monetary Policy. The announcement comes ahead of the Chamber of Digital Commerce. Blockchain Summit on May 24th in Washington, D.C., where PraSaga is a sponsor. White will be attending the Summit to discuss the future of blockchain and crypto policy with prominent Senators and SEC Commissioners. https://metaentertainmentworld.com/

Key Points:

Blockchain Summit on May 24th in Washington, D.C., where PraSaga is a sponsor.
White will be attending the Summit to discuss the future of blockchain and crypto policy with prominent Senators and SEC Commissioners.
https://metaentertainmentworld.com/
In advisor role, White to advance robust monetary policy mechanism for PraSaga's SagaCoin and wider crypto ecosphere.
White will be attending the Chamber of Digital Commerce's Blockchain Summit in Washington D.C. alongside PraSaga Chief Economist, Stephen Moore, and PraSaga CTO, David Beberman.

Wonolo's Path Forward Program has created over 30,000 job opportunities to help people with previous justice system involvement get back to work

Retrieved on:

Wednesday, April 20, 2022

Triple accreditation, Business administration, Research, Harvard Business School, Reverse-path forwarding, National Bureau of Asian Research, National Bureau of Economic Research, Program, Cologne Institute for Economic Research, Crime, Workforce, Assistant, Economy, Management

NASHVILLE, Tenn., April 20, 2022 /PRNewswire/ -- Wonolo, the leading online platform disrupting the temporary staffing industry, announced the publication of a new National Bureau of Economic Research working paper entitled, "Increasing the Demand for Workers with a Criminal Record." The research discusses Wonolo's efforts to connect individuals with prior justice system involvement with job opportunities.

Key Points:

The research discusses Wonolo's efforts to connect individuals with prior justice system involvement with job opportunities.
"With cost-effective policies, platforms can integrate workers with past involvement in the criminal justice system without deterring employers.
The research builds upon Wonolo's Path Forward Program that aims to help formerly incarcerated individuals find work.
Over 30,000 jobs have been created to help people with prior justice system involvement find work.

BNP Paribas Hires Carl Riccadonna as Chief U.S. Economist

Retrieved on:

Thursday, April 14, 2022

BNP Paribas, the premier global bank, announced today the appointment of Carl Riccadonna as Chief U.S.

Key Points:

BNP Paribas, the premier global bank, announced today the appointment of Carl Riccadonna as Chief U.S.
Economist at BNP Paribas (Photo: Business Wire)
At BNP Paribas, Mr. Riccadonna and his team will be responsible for delivering to clients a macro view of the U.S. economy as well as short- and long-term outlooks given geopolitical events, central bank policy and other market developments.
Economist and Head of Economics Research for the Americas and later Chief Industry Economist for Bloomberg Intelligence.
Economist of Markets 360 at BNP Paribas, said: I am thrilled to be leading the BNP Paribas U.S. Economics research team at such a critical moment.

Allianz Trade Global Survey 2022

Retrieved on:

Tuesday, April 12, 2022

Before diving into the results of our Allianz Trade Global Survey, lets take a look at our economic outlook.

Key Points:

Before diving into the results of our Allianz Trade Global Survey, lets take a look at our economic outlook.
In such an adverse scenario, global inflation would soar to 7% this year while growth would decline to +2.5% before the global economy enters into a recession 2023 (-0.3%), adds Ana Boata, Global Head of Economic Research at Allianz Trade.
Even if Russia and Ukraine are not key final markets for European exporters, the war situation is affecting global trade through indirect effects (supply chains, raw material, energy), weighing on export opportunities for firms, adds Franoise Huang, Senior Economist for Global Trade and APAC at Allianz Trade.
We predict trade and credit risk today, so companies can have confidence in tomorrow
Allianz Trade is the global leader in trade credit insurance and a recognized specialist in the areas of surety, collections, structured trade credit and political risk.