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Eu Commission Agrees To Extend Sale Deadline For Monte Dei Paschi, Valentina Za, Giuseppe Fonte Aug 2022

Eu Commission Agrees To Extend Sale Deadline For Monte Dei Paschi, Valentina Za, Giuseppe Fonte

Documents

No abstract provided.


State Aid Sa.103450 (2022/N) – Italy Banca Monte Dei Paschi Di Siena – Second Amendment To The List Of Commitments Related To The Aid Granted To Banca Monte Dei Paschi Di Siena In 2017, European Commission Aug 2022

State Aid Sa.103450 (2022/N) – Italy Banca Monte Dei Paschi Di Siena – Second Amendment To The List Of Commitments Related To The Aid Granted To Banca Monte Dei Paschi Di Siena In 2017, European Commission

Documents

No abstract provided.


State Aid: Commission Approves Revised Commitments By Italy For Banca Monte Dei Paschi Di Siena, European Commission Aug 2022

State Aid: Commission Approves Revised Commitments By Italy For Banca Monte Dei Paschi Di Siena, European Commission

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No abstract provided.


Banking Nationalism And Resolution In Italy And Spain, Shawn Donnelly, Gaia Pometto Aug 2022

Banking Nationalism And Resolution In Italy And Spain, Shawn Donnelly, Gaia Pometto

Documents

No abstract provided.


Dynamic Price Competition: Theory And Evidence From Airline Markets, Ali Hortaçsu, Aniko Öry, Kevin R. Williams Aug 2022

Dynamic Price Competition: Theory And Evidence From Airline Markets, Ali Hortaçsu, Aniko Öry, Kevin R. Williams

Cowles Foundation Discussion Papers

We introduce a model of oligopoly dynamic pricing where firms with limited capacity face a sales deadline. We establish conditions under which the equilibrium is unique and converges to a system of differential equations. Using unique and comprehensive pricing and bookings data for competing U.S. airlines, we estimate our model and find that dynamic pricing results in higher output but lower welfare than under uniform pricing. Our theoretical and empirical findings run counter to standard results in single-firm settings due to the strategic role of competitor scarcity. Pricing heuristics commonly used by airlines increase welfare relative to estimated equilibrium predictions.


Documento Preguntas Y Respuestas Li­Nea De Credito Flexible Del Fmi - Agosto 2022, Banco Central De Chile (Bcch) Aug 2022

Documento Preguntas Y Respuestas Li­Nea De Credito Flexible Del Fmi - Agosto 2022, Banco Central De Chile (Bcch)

Documents

No abstract provided.


Ecb Euro Liquidity Lines, Silvia Albrizio, Ivan Kataryniuk, Luis Molina, Jan Schafer Aug 2022

Ecb Euro Liquidity Lines, Silvia Albrizio, Ivan Kataryniuk, Luis Molina, Jan Schafer

Documents

No abstract provided.


Eviction And Poverty In American Cities, Robert Collinson Jul 2022

Eviction And Poverty In American Cities, Robert Collinson

Cowles Foundation Discussion Papers

More than two million U.S. households have an eviction case filed against them each year. Policymakers at the federal, state, and local levels are increasingly pursuing policies to reduce the number of evictions, citing harm to tenants and high public expenditures related to homelessness. We study the consequences of eviction for tenants using newly linked administrative data from two large cities. We document that prior to housing court, tenants experience declines in earnings and employment and increases in financial distress and hospital visits. These pre-trends are more pronounced for tenants who are evicted, which poses a challenge for disentangling correlation …


Depressive Episodes In Patients With Newly-Diagnosed Early-Onset Dementia Versus Late-Onset Dementia, Alex Jay Hauptli Jul 2022

Depressive Episodes In Patients With Newly-Diagnosed Early-Onset Dementia Versus Late-Onset Dementia, Alex Jay Hauptli

Yale School of Medicine Physician Associate Program Theses

Dementia is an irreversible decline in cognition, which is most commonly seen in the elderly, but a minority of patients are diagnosed before the age of 65, in a subtype known as early-onset dementia. There is a strong association between dementia and major depression in the elderly, but the prevalence of depression in patients with early-onset dementia lacks consensus among existing studies, and there is a paucity of data in newly diagnosed individuals. We propose a cross-sectional study to measure the prevalence ratio of major depression in patients with early-onset dementia compared to those over the age of 65. Specifically, …


Sibling Mediation In An Executive Function Intervention For Children With Autism Spectrum Disorder, Lara Decastro Jul 2022

Sibling Mediation In An Executive Function Intervention For Children With Autism Spectrum Disorder, Lara Decastro

Yale School of Medicine Physician Associate Program Theses

Autism spectrum disorder is a developmental disorder characterized by social communication deficits and restricted, repetitive behaviors. It is associated with deficits in cognitive flexibility, which is the ability to switch between tasks, shift attention, and adapt learned responses. Various interventions, such as the Unstuck and On Target curriculum, target cognitive flexibility. In addition, prior studies have supported including sibling mediation in interventions; however, the inclusion of siblings as mediators of the Unstuck and On Target curriculum has not yet been explored. We propose to determine whether including siblings as mediators to a modified Unstuck and On Target curriculum improves cognitive …


Examining The Relationship Between Primary Care Provider Emotional Intelligence And Glycemic Control, Mary Cate Gallagher Jul 2022

Examining The Relationship Between Primary Care Provider Emotional Intelligence And Glycemic Control, Mary Cate Gallagher

Yale School of Medicine Physician Associate Program Theses

The patient-provider relationship is an important component of chronic disease management. One key aspect of a positive patient-provider relationship is a healthcare provider’s “emotional intelligence,” one’s ability to recognize, understand, and manage their own as well as other’s emotions, which has a known positive effect on patient satisfaction. However, no studies have examined whether a healthcare provider’s emotional intelligence influences health outcomes in chronic disease. This study aims to determine whether glycemic control in adult patients with type II diabetes is correlated with a primary care provider’s emotional intelligence. Specifically, we will carry out a cross sectional study using retrospective …


Computerized Cognitive Behavioral Therapy For Patients With Post-Treatment Lyme Disease Syndrome, Katherine Fry Jul 2022

Computerized Cognitive Behavioral Therapy For Patients With Post-Treatment Lyme Disease Syndrome, Katherine Fry

Yale School of Medicine Physician Associate Program Theses

Lyme disease is the most common vector-borne illness in North America. Post-treatment Lyme disease syndrome is defined as a subset of patients appropriately treated for Lyme disease who continue to experience generalized symptoms, such as depression. However, treatment options for depressive symptoms in post-treatment Lyme disease syndrome largely remain unknown. The objective of this study is to examine whether computerized cognitive behavioral therapy, an internet-delivered form of traditional cognitive behavioral therapy, can reduce depressive symptoms in patients with post-treatment Lyme disease syndrome. Here, we conduct a parallel randomized controlled trial to evaluate whether computerized cognitive behavioral therapy can reduce depressive …


Salpingectomy For Sterilization In Patients With A Documented Ovarian Cancer Family History, Shera Shevin Jul 2022

Salpingectomy For Sterilization In Patients With A Documented Ovarian Cancer Family History, Shera Shevin

Yale School of Medicine Physician Associate Program Theses

Ovarian cancer is the most lethal gynecologic cancer. The leading risk factor for ovarian cancer is a family history of breast and/or ovarian cancer, but known genetic mutations contribute only a small percentage of heritable risk. Due to flawed early detection methods, risk management relies on prevention. Because some ovarian cancers originate in the fallopian tubes, researchers are exploring bilateral salpingectomy for risk reduction. However, utilization of the procedure has not been measured in patients with a documented ovarian cancer family history but no known genetic mutation. We aim to determine if a greater proportion of patients with an ovarian …


Carlyle To Invest Up To A 10% Stake In Yes Bank, One Of The Largest Private Sector Banks In India, Carlyle Jul 2022

Carlyle To Invest Up To A 10% Stake In Yes Bank, One Of The Largest Private Sector Banks In India, Carlyle

Documents

No abstract provided.


Yes Bank To Sell 10% Stake To Carlyle, Advent For Irn 8,898 Crore, Meghna Sen Jul 2022

Yes Bank To Sell 10% Stake To Carlyle, Advent For Irn 8,898 Crore, Meghna Sen

Documents

No abstract provided.


Factsheet: Special Drawing Rights (Sdr), International Monetary Fund (Imf), International Monetary Fund (Imf): Monetary And Financial Systems Department Jul 2022

Factsheet: Special Drawing Rights (Sdr), International Monetary Fund (Imf), International Monetary Fund (Imf): Monetary And Financial Systems Department

Documents

No abstract provided.


Judgment Of The General Court Of 1 June 2022 - Fundacion Tatiana Perez De Guzman El Bueno And Sfl V Srb, European General Court Jul 2022

Judgment Of The General Court Of 1 June 2022 - Fundacion Tatiana Perez De Guzman El Bueno And Sfl V Srb, European General Court

Documents

No abstract provided.


Is Capital Account Convertibility Required For The Renminbi To Acquire Reserve Currency Status?, Barry Eichengreen, Arnaud Mehl, Eric Monnet, Alain Naef, Camille Macaire Jul 2022

Is Capital Account Convertibility Required For The Renminbi To Acquire Reserve Currency Status?, Barry Eichengreen, Arnaud Mehl, Eric Monnet, Alain Naef, Camille Macaire

Documents

No abstract provided.


Screening With Persuasion, Dirk Bergemann, Tibor Heumann, Stephen Morris Jul 2022

Screening With Persuasion, Dirk Bergemann, Tibor Heumann, Stephen Morris

Cowles Foundation Discussion Papers

We consider a general nonlinear pricing environment with private information. We characterize the information structure that maximizes the seller's profits. The seller who cannot observe the buyer's willingness to pay can control both the signal that a buyer receives about his value and the selling mechanism. The optimal screening mechanism has finitely many items even with a continuum of types. We identify sufficient conditions under which the optimal mechanism has a single item. Thus, the socially efficient variety of items is decreased drastically at the expense of higher revenue and lower information rents.


Climate Change Around The World, Per Krusell, Anthony A. Smith Jr. Jul 2022

Climate Change Around The World, Per Krusell, Anthony A. Smith Jr.

Cowles Foundation Discussion Papers

The economic effects of climate change vary across both time and space. To study these effects, this paper builds a global economy-climate model featuring a high degree of geographic resolution. Carbon emissions from the use of energy in production increase the Earth's (average) temperature and local, or regional, temperatures respond more or less sensitively to this increase. Each of the approximately 19,000 regions makes optimal consumption-savings and energy-use decisions as its climate (or regional temperature) and, consequently, its productivity change over time. The relationship between regional temperature and regional productivity has an inverted U-shape, calibrated so that the high-resolution model …


Lessons Learned: Zeti Akhtar Aziz, Maryann Haggerty Jul 2022

Lessons Learned: Zeti Akhtar Aziz, Maryann Haggerty

Journal of Financial Crises

Zeti Akhtar Aziz, a Malaysian economist, was governor of Bank Negara Malaysia, her nation’s central bank, from 2000 to 2016; prior to that, she was acting governor and deputy governor. Dr. Zeti was a key leader in Malaysia’s response to the Asian financial crisis of 1997¬-98, as well as the financial sector restructuring that followed. This “Lessons Learned” summary is based on a 2022 interview with Dr. Zeti. At the time of the interview, she was co-chair of the board of governors of the Asia School of Business in Kuala Lumpur, which is a partnership between Bank Negara and the …


Lessons Learned: David Wilcox, Mercedes Cardona Jul 2022

Lessons Learned: David Wilcox, Mercedes Cardona

Journal of Financial Crises

David Wilcox was the deputy director of the Division of Research and Statistics of the Federal Reserve Board of Governors during the Global Financial Crisis of 2007-¬09. He assisted in developing the Federal Reserve policy response that ultimately stabilized the economy by providing insight into the economic and financial outlook to the Federal Open Market Committee (FOMC) prior to each of its policy-setting meetings. Wilcox became director of the division in 2011 and served in that role through 2018, acting as the division’s chief economist, manager, and the senior adviser to three Fed chairs. After leaving the Fed, he joined …


Lessons Learned: Mark Van Der Weide, Matthew A. Lieber Jul 2022

Lessons Learned: Mark Van Der Weide, Matthew A. Lieber

Journal of Financial Crises

With more than two decades of continuing service at the Federal Reserve Board, Mark Van Der Weide brings a unique insider perspective on central bank policymaking before, during, and after the Global Financial Crisis (GFC), including the Fed’s response to the COVID-19 pandemic in 2020. From 1998 to 2009, Van Der Weide served in the Fed’s legal division. De-tailed to the Treasury Department in 2009, he helped draft the Dodd-Frank Wall Street Re-form and Consumer Protection Act of 2010. Back at the Fed in 2010, Van Der Weide served for eight years in the Division of Supervision and Regulation, where …


Lessons Learned: Brooksley Born, Maryann Haggerty Jul 2022

Lessons Learned: Brooksley Born, Maryann Haggerty

Journal of Financial Crises

Brooksley Born, a lawyer with decades of experience in derivatives law, served as chair of the Commodity Futures Trading Commission (CFTC) from 1996 to 1999. At the CFTC, she advocated for federal regulation of the over-the-counter derivatives (OTC) market, but legislation failed to pass. The OTC derivatives market had a central role in the Global Financial Crisis of 2007-09. Born, who returned to private practice after her CFTC term, served as a commissioner on the US Financial Crisis Inquiry Commission, which investigated the causes of the crisis and issued its report in January 2011. This “Lessons Learned” is based on …


Lessons Learned: Michael Silva, Mercedes Cardona Jul 2022

Lessons Learned: Michael Silva, Mercedes Cardona

Journal of Financial Crises

Michael Silva was chief of staff to then-President of the Federal Reserve Bank of New York (FRBNY) Timothy Geithner from 2006 to 2009, including the early stages of the Global Financial Crisis (GFC). As such, Silva was critical in the coordination of personnel and information during the GFC, specifically during the period when the FRBNY was addressing liquidity stresses in the bank sector, including the bailout of Bear Stearns, the failure of Lehman Brothers, and the rescue of American International Group. When Geithner became President Barack Obama’s Treasury Secretary in 2009, Silva became chief of staff to his successor at …


United States: Main Street Lending Program, Steven Kelly Jul 2022

United States: Main Street Lending Program, Steven Kelly

Journal of Financial Crises

In March 2020, as the COVID-19 pandemic caused slowdowns and disruptions to economic activity, businesses faced disruptions to their revenues and experienced increased demand for credit. Yet, as the pandemic worsened the economic outlook, banks tightened credit. Starting on March 17, the Federal Reserve rolled out several emergency programs aimed at capital markets. Most of these programs tended to benefit relatively large companies. On March 23, the Fed said it would introduce a program targeting small and mid-sized companies. On April 9, 2020, the Federal Reserve announced its first design iteration of the novel Main Street Lending Program (MSLP). The …


Lessons Learned: Scott G. Alvarez, Esq., Part 2, Steven Kelly Jul 2022

Lessons Learned: Scott G. Alvarez, Esq., Part 2, Steven Kelly

Journal of Financial Crises

Scott G. Alvarez was general counsel of the Federal Reserve Board during the Global Financial Crisis (GFC). He met with the Yale Program on Financial Stability (YPFS) to discuss a litany of legal aspects related to the Fed’s interventions under its emergency liquidity provision authority under Section 13(3) of the Federal Reserve Act. We summarize some highlights from our interview with Mr. Alvarez. The transcript of this interview, conducted in April 2022, and one from an earlier Lessons Learned interview, in December 2018


United States: Paycheck Protection Program Liquidity Facility, Steven Kelly Jul 2022

United States: Paycheck Protection Program Liquidity Facility, Steven Kelly

Journal of Financial Crises

In the early days of the COVID-19 pandemic, the US Congress passed and funded the Paycheck Protection Program (PPP) to help small businesses facing business disruptions keep workers on their payrolls and meet other expenses. The PPP, signed into law on March 27, 2020, provided a mechanism for authorized lenders to extend concessionary, forgivable loans guaranteed by the Small Business Administration (SBA). Lenders ultimately extended approximately $800 billion in PPP loans. The SBA distributed the funds when the loan either defaulted or met the law's terms for SBA forgiveness. To buttress lenders' ability to fund PPP loans, the Federal Reserve …


United States: Primary Dealer Credit Facility, Carey K. Mott Jul 2022

United States: Primary Dealer Credit Facility, Carey K. Mott

Journal of Financial Crises

In March 2020, the uncertain outlook for the United States in the face of the COVID-19 pandemic prompted extremely high demand for cash and near-cash assets. Amid intense selling pressure from investors, securities dealers were unable to fully absorb the high volume of trade orders into their inventory due to balance sheet capacity and funding constraints. As dealer capacity declined and demand for liquidity continued rising, volatility spread to the critical and normally highly liquid market for US Treasury securities, prompting the Federal Reserve to increase open market operations (March 12) and begin historically large purchases of US Treasuries (March …


United States: Municipal Liquidity Facility, Steven Kelly Jul 2022

United States: Municipal Liquidity Facility, Steven Kelly

Journal of Financial Crises

In March 2020, the COVID-19 pandemic caused severe financial stress for state and local municipalities. Municipalities' public health responses led to material increases in expenditures. At the same time, many municipalities faced revenue delays and declines due to extended tax deadlines and disruptions in taxable economic activity. Institutional investors also put heavy selling pressure on municipal bonds. In response to stresses in the municipal financing market, the Federal Reserve invoked its Section 13(3) emergency lending authority and created the Municipal Liquidity Facility (MLF). The Fed created the facility to backstop municipal entities' access to capital markets to help them manage …