Texas-based energy economist Ed Hirs ’81 says the February 2021 power crisis exposed longstanding, fatal flaws in the state’s energy market design and oversight.
The price of a single Bitcoin is up more than 700% since the beginning of 2020, defying years of predictions of a crash. We asked Prof. Aleh Tsyvinski, professor of economics at Yale, to shed some light on the continuing phenomenon.
Researchers have generally believed that as large institutional investors make bigger trades, their trading costs rise accordingly. Research from Yale SOM’s Tobias Moskowitz finds that they take a slow-and-steady approach to keep costs down and outsmart market predators.
We asked Yale SOM’s Kelly Shue, an expert in behavioral economics and empirical corporate finance, to explain what the GameStop phenomenon might mean for the balance of power on Wall Street.
Despite a general wave of pessimism following the COVID-19 stock crash in March, few investors made significant changes to their portfolios, according to new research from Yale SOM’s Stefano Giglio.
Prof. Shyam Sunder outlines a strain of research, drawing on complexity theory, that suggests that outcomes of a social system can be rational even if its individual participants are not rational.
A classic 1997 paper on mutual fund performance doesn’t describe present-day markets, Yale SOM's James Choi found.
- Why did the stock market recover as the economy suffered? Yale SOM’s Shyam Sunder points to the hundreds of billions of dollars injected into the economy by the Federal Reserve and other central banks.
According to preliminary research by Yale SOM’s Peter Schott and his co-authors, investors may be adjusting prices based on whether previous predictions of total infections seemed overly optimistic or pessimistic.
The stock markets are reeling as fear and uncertainty about the global pandemic grow. We asked Yale SOM’s William Goetzmann, whose research includes financial history, to put the volatility into historical perspective.
We asked Yale SOM’s James Choi, who has examined the implications of academic research for personal finance, what studies say about how to respond to a market crash.