August 21, 2018

Many people doing research in finance use WRDS as a gateway to high-quality financial data. Think CRSP for stock prices, Compustat for accounting info, or IBES for stock analyst forecasts.

For some time now, it has been possible to download data from WRDS using Python....

July 26, 2018

2018 is shaping up to be one of the warmest years on record. With heatwaves currently sweeping through much of the world, it is worth taking a look at just how extraordinary the rise in global temperatures has been.

Here is a picture, courtesy of NASA, of the rise in gl...

May 31, 2018

Jesse is thinking about buying a house. But the decision is a tough one. Are house prices going to rise in the future? Where will interest rates be in a few years? Is Jesse likely to get that promotion? The answers to all these questions have a direct impact on Jesse's...

February 19, 2018

On a recent commute, I had the pleasure to listen to a fantastic talk by Tim Roughgarden on game theory and algorithms. Check it out.

A highlight of the talk—for me, anyway—was the discussion of Braess’s Paradox.

Think of the following transportation network:

Here, we hav...

January 25, 2018

LaTeX is a fantastic tool for writing papers and creating presentations. That’s especially true when the goal is to automate things and make research easily reproducible. (You never copy-paste your regression tables, right?)

However, while LaTeX is great and easy for a...

January 19, 2018

On February 23, 2009 JP Morgan slashed its dividend from $0.38 to $0.05 per share—a whopping 87% cut. The decision was made in the midst of a global financial crisis, and it was described by JP Morgan as a “precautionary measure to help ensure that our fortress balance...

September 8, 2017

This is a story in two parts, one fictional and one real.

A bridge collapsed in a faraway land. (Thankfully, this is the fictional part.) After months of investigation, shoddy construction materials were found to be responsible for the tragedy.

A new law was passed to av...

September 3, 2017

A common criticism leveled at cryptocurrencies—such as Bitcoin or Ethereum—is that they are very volatile. I think that this critique carries less bite than may seem at first sight.

For example, John Lewis at the Bank of England has recently compared the purchasing powe...

July 30, 2017

Professor Robert Putnam of Harvard University recently gave a fascinating talk on equality and social cohesion at the Federal Reserve Bank of Minneapolis.

The key idea of the lecture was roughly this. Income equality in the US since 1900s has followed an inverse-U patte...

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