Update: I am excited to share that I'll join
@Columbia_Biz
as an AP in Finance this summer!
🙏 to
@ChicagoBooth
for fostering my growth; my advisors Ralph, Niels, Lars, & Stefan for their incredible support; and Edward Hopper whose art has been a constant companion in my journey
1/ Had an awesome time at two economics conferences
@UChicago
this Fri & Sat, located just across the street from each other! Here's a thread on my takeaways and how they sparked ideas for future research. 👇
1/ This Fri & Sat, I was part of the 100th anniversary celebration of
@ChicagoBooth
PhD program. A convergence of history, camaraderie, and intellectual engagement. Here are my 5 takeaways as a current PhD student:
Thrilled to see my paper with
@ateneked
&
@SenIshita1
, "Pricing of Climate Risk Insurance: Regulation and Cross-Subsidies", recognized in the
@FT
. Particularly relevant given recent exits of major insurers from markets in CA and FL. Link to article: (1/2)
Greatly enjoyed the livestreams of NBER Summer Institute presentations this past few weeks! I wanted to give a shoutout to some great work by my talented friends from
@ChicagoBooth
PhD program who presented at the recent NBER Summer Institute! 🧵
Announcing the 2023 E-axes Forum research prize winner "Pricing of Climate Risk Insurance: Regulation and Cross-Subsidies" by Sangmin S. Oh,
@SenIshita1
, and Ana Maria Tenekedjieva. The authors will present their research during an upcoming webinar.
#econtwitter
Nervously approaching the end of summer, I curated a playlist of iconic songs that are secretly about the academic job market. Turns out hits like "Stayin' Alive" and "Take a Chance on Me" take on a new meaning. Check it out! .
6/ Incredibly grateful to Ross Stevens not only for his generous gift but for bringing us together. The events reminded me of a quote from
@theofficetv
: "I wish there was a way to know you're in the good old days before you've actually left them." Today, we knew.
3/ Next: Firms' Cost of Capital, Discount Rates, & Investment Conference by
@BeckerFriedman
, led by
@NielsGormsen
& Kilian Huber. We explored the cost of capital from various angles, including monetary policy, financial markets, and macro trends.
2/ First: Assessing Economic & Environmental Consequences of Climate Change by IMSI, with
@UncertainLars
,
@HansbergRossi
, & Rebecca Willett at the helm. They brought together a panel of economists, climate scientists & ML experts for a deep dive into this complex issue.
@AnthonyLeeZhang
I tried in light of the upcoming econ department skit show but the output seemed pretty bad (at least when I asked for econ jokes). Perhaps it’s all about the delivery.
4/ Reflecting on our approach to research, two themes stood out: 1) The invaluable role of high-quality data, and 2) The necessity of a well-defined framework before delving into the data. These are research principles that still resonate with us today as well.
5/ Also had the pleasure of finally meeting
@CliffordAsness
in person - a fellow
@PennMandT
alumnus and my former employer at
@AQRCapital
. His humor and warmth in person added a delightful layer to his established Twitter and Cliff's Perspectives personas.
Pauline Mourot (sadly not on twitter) presenter co-authored work in the economics of health program! It turns out that there is a lot of trade in medical care, implying that who live in smaller markets can have access to higher-quality care that would otherwise be unavailable.
@zhiyufu_econ
and
@manavch
, along with another Booth alum Jane Li, presented in the asset pricing program. They show that defining the substitution set matters when estimating how corporate bond prices respond to demand shocks.
5/ Another plus: they expose us to a wide range of research. You might not grasp every detail of
@nvidia
's Earth-2 model or the various algorithms for conformal predictions, but knowing they exist and their potential applications is super valuable. 🌐🖥️
3/ The role of mentors. Gene Fama was an obvious common thread, but so many others have shaped our paths in their own ways. A mutual recognition that our mentors' words and advice have very persistent effects on our careers.
4/ A key takeaway from both conferences: diverse perspectives and tools are essential. It reminded me of the parable of the blind men and an elephant -- each person has a piece of a puzzle, so bring the pieces together to create a fuller picture. 🧩
7/ Conferences like these require extra logistics and coordination, but the rewards are worth it. Hats off to the organizers! 🎩👏 Excited to apply these fresh ideas to my research, and looking forward to more like these in the future!
It's a truly unique experience to be able to present and get feedback at the NBER SI, especially as a PhD student. Hats off to Zhiyu, Manav, Lucy, and Pauline for their cool research! Can't wait to have them back in Chicago as we toil together for the upcoming job market😅
6/ Bonus: feeling epsilon "smarter" after each session! Picking up new knowledge bits makes the conference experience more enjoyable and gets the creative juices flowing for future research. 🧠
@TaniaBabina
Thanks for doing this! Aditya Chaudhry (at OSU) and I have a paper using reinforcement learning to efficiently filter daily GDP growth expectations from asset prices, which we then use to test the "Fed Information Effect."
Here's the link:
@LucyMsall
presented her co-authored work in the public economics program. Authors use a bunching estimation approach to study a particular form of fiscal stimulus: digital coupons issued by local governments in China.
2/ Research
@ChicagoBooth
, timeless in its essence. The frontier of research has always been pushed here in Hyde Park. Seminars were about fiercely debating ideas and everyone embracing the challenge. And yes, Gene Fama still attends seminars, delivering sharp comments as ever.