Notes on "Asset Bubbles: Re-thinking Policy for the Age of Asset Management"

Asset Bubbles: Re-thinking Policy for the Age of Asset Management
Prepared by Brad Jones
Authorized for distribution by Luc Everaert
February 2015
IMF

compress risk premium -> misallocation of resources
Behavior of asset managers

Bubbles episodes could be more frequent than the past
regulations have to be more multifaceted, guard against the risk of "fighting the last war"
behavior of asset managers creates instability

Notes on "How have central banks implemented negative policy rates?" (by Morten Beth and Aytek Malkhozov)

How have central banks implemented negative  policy rates?"
by Morten Beth and Aytek Malkhozov

(not started)

Notes on "THE REAL EFFECTS OF FINANCIAL MARKETS" (Philip Bond, Alex Edmans, Itay Goldstein)

THE REAL EFFECTS OF FINANCIAL MARKETS 
Philip Bond, Alex Edmans, Itay Goldstein 
http://www.nber.org/papers/w17719

(not started)

Notes on "Financial Markets and the Real Economy" (by John H. Cochrane)

Financial Markets and the Real Economy
John H. Cochrane 
University of Chicago

The central modern: price is generated by expected discounted payoffs
The expected excess return or “risk premium” is higher for assets that have a large negative covariance with the discount factor.

(not finished)