Luis Garicano 🇪🇺🇺🇦 @lugaricano@respublicae.eu
Unofficial automated mirror. No copyright asserted. ∎ Economist. Back at LSE as a Professor at @LSEPublicPolicy Summer 2023. Non-resident Fellow @bruegel_org. Recovering MEP. Currently @ChicagoBooth.
Joined Apr 2022
Buenas noticias para la banca española por el lado de los depósitos: los más estables de Europa.
Otra cosa son las carteras de bonos soberanos. Pero si los depósitos no se mueven, no hay que vender la cartera y realizar la perdida. Se puede mantener el bono hasta que madure.
RT @jeuasommenulle: This, from my parsing of approx 100 europeans banks LCR disclosures, is share of retail deposits that are stable per country
- It's important for credit risk (see switzerl…
🐦🔗: https://n.respublicae.eu/lugaricano/status/1640047299152826368
RT @emollick: Management consultants, keep a close eye on AI.
As an experiment, I fed GPT-4 the official practice McKinsey cases, including the math. It nails it, often better than the official answer. (As far as I can tell, these launched after the training data window for GPT-4 concluded)
🐦🔗: https://n.respublicae.eu/lugaricano/status/1639347322805968911
RT @AndresVelasco: We at the School of Public Policy are delighted to welcome back Luis Garicano to the LSE. He is a world-class scholar and an outstanding policymaker. I look forward to working together, Luis!
🐦🔗: https://n.respublicae.eu/lugaricano/status/1638933042541543424
I am really happy to go back to what was my home, the LSE. I will work to make @LSEPublicPolicy the top global Public Policy School. And I promise to do my part to reconnect the UK to Europe and beyond.
Can't wait to meet you all!
RT @LSEPublicPolicy: We are delighted to announce the appointment of Professor Luis Garicano as full Professor of Public Policy. A leading scholar, and former MEP @europarl_en, @lugaricano will join us from August 2023.
Find out more…
🐦🔗: https://n.respublicae.eu/lugaricano/status/1638914495559901186
RT @jawillick: Statement on liberal values from the Stanford Law dean is admirably forthright and unqualified. A milestone in the campus speech wars:
https://t.co/OewPKvE1LS
🐦🔗: https://n.respublicae.eu/lugaricano/status/1638679362693394432
RT @ethanbdm: I don't agree with this thread.
Scientists are entitled to political and policy views. But calling those views scientific is confused.
Scientist's political & policy views, like anyone's, reflect facts and values.
They don't have any special claim to deference wrt values.
1/
🐦🔗: https://n.respublicae.eu/lugaricano/status/1638514071359111169
Having a blast reading "The Company: a short history of a revolutionary idea" by @adwooldridge and Micklethwait. Lots of insights into the history of the joint stock corporation since the Babylonians. One example:
🐦🔗: https://n.respublicae.eu/lugaricano/status/1638019255286345728
- On the morning of 30 september 2008 Ireland guaranteed "irrevocably" for 2 years all bank deposits.
- In November 2010, directly as a result, Ireland had to request a bailout from the European Union.
The guarantee was a big mistake.
RT @markets: EXCLUSIVE: US officials are studying ways to let the FDIC temporarily insure deposits beyond the current $250,000 cap on most accounts, without having to get approval from a deeply divided Congress https://www.bloombe…
🐦🔗: https://n.respublicae.eu/lugaricano/status/1637992659758247936
True in Europe as well, particularly in Germany. You cannot understand anything about (the lack of) EU banking union or (the lack of) European deposit insurance without understanding the political power of sparkassen.
RT @AlecStapp: A really important and counterintuitive point from @ezraklein that most people aren’t aware of:
The small banks are much, much more politically powerful than the big banks in Washington, DC.
They’re popular and every member of Congre…
🐦🔗: https://n.respublicae.eu/lugaricano/status/1637988273871003648
Félicitations M. @EmmanuelMacron . A very necesssary reform: implicit pension debt is almost 4 times French GDP.
🐦🔗: https://n.respublicae.eu/lugaricano/status/1637962424463785985
The regulatory hanky panky with Held To Maturity portfolio (which does not get marked to market because the bank "promises-promises" it will not sell it) adds a huge amount of instability to Bank valuations.
🐦🔗: https://n.respublicae.eu/lugaricano/status/1637871218844917793
More deadpan from the @FT.
@FTAlphaville
🐦🔗: https://n.respublicae.eu/lugaricano/status/1637868436775739392
Sorry @ft but CS is not like Santander Popular. Both had CoCos wiped out. But Popular equity holders received one euro (total)- no inversion in seniority of claims. In CS, shareholders receive SFr 3bn. https://on.ft.com/40hyeBJ
🐦🔗: https://n.respublicae.eu/lugaricano/status/1637638290856615936
RT @gendal: I think it’s one of those irregular verbs. “We merged. You were acquired. They were the beneficiary of an emergency rescue”
🐦🔗: https://n.respublicae.eu/lugaricano/status/1637624643774300160
Credit Suisse: RIP.
The best epitaph is in this hilarious paragraph.
RT @mroliverbarnes: And so the deal is done. Here’s to the memories…
🐦🔗: https://n.respublicae.eu/lugaricano/status/1637593054981791745
So they know how much they are paying but not what they are buying. Reassuring.
RT @jeuasommenulle: You cannot make this up:
on the call the C-suite of UBS didn't know if the big CS tier 2 Coco was bailed in or not.
🐦🔗: https://n.respublicae.eu/lugaricano/status/1637590964423327747
What a huge honor! The @StanfordFleetSt a capella group sung to me the "Luis song"🤣 Thanks!
(Sorry did not catch everyone in camera!)
🐦🔗: https://n.respublicae.eu/lugaricano/status/1636892003194777600
RT @ghostofchristo1: Since everyone’s suddenly bandying about definitions of “wokeness” or whatever, here’s John Gray’s. https://www.newstatesman.com/politics/uk-politics/2023/03/john-gray-triumph-corporate-newspeak
🐦🔗: https://n.respublicae.eu/lugaricano/status/1636470369749204994
What a day to give a talk on "Debt and the Euro" at John Taylor's Economic Policy Working Group @HooverInst- with a globally significant institution with $1.400.000.000.000 assets under management (10% of Eurozone Economy) on the brink of default,
🐦🔗: https://n.respublicae.eu/lugaricano/status/1636029737457049600
Financial dominance, defined: not a single macro indicator justifies this change in expectations.
Inflation be dammed.
🐦🔗: https://n.respublicae.eu/lugaricano/status/1636020197864931334
Unofficial automated mirror. No copyright asserted. ∎ Economist. Back at LSE as a Professor at @LSEPublicPolicy Summer 2023. Non-resident Fellow @bruegel_org. Recovering MEP. Currently @ChicagoBooth.
Joined Apr 2022
