Briefs and Blogs
The Limits of Mortgage Credit Risk Transfer
Deborah Lucas presented her research paper with GCFP coauthors Niccolo Comati and Edward Golding, “Credit Risk Transfer and the Pricing of Mortgage Default Risk" at a recent conference at the Federal Reserve Bank of Cleveland on May 29, 2026,
Moving Beyond Safe vs. Risky Treasury Debt
Deborah Lucas offered her views on “US Treasury Debt and Fiscal Sustainability” at the SFS Cavalcade conference in Charlottesville, VA on May 20.
The Economics of Government Investment Policies and Why They Cannot Undo Fiscal Imbalances
With debt burdens mounting in the United States and abroad, policymakers have shown renewed interest in using government investment strategies to address fiscal imbalances. In this policy brief, MIT Sloan Distinguished Professor and MIT GCFP [...]
Liquidity Risk (Mis)Management: The Failure of Silicon Valley Bank and the Liability-Driven Investment Episode in UK Gilt Markets
Former Golub Senior Fellow, Laura Kodres, discusses the similarities between what happened with British pension funds in autumn 2022 and SVB.
What is the Social Discount Rate? MIT Economists Weigh In
In a comment letter to the Office of Management and Budget on Circular A-4 that guides federal agencies in conducting benefit-cost analyses, a dozen MIT professors, many affiliated with the Golub Center for Finance and Policy, offered suggestions [...]
Edward Golding op-ed on FHFA and mortgage risk pricing
MAY 4 – 2023 “BankThink: No, FHFA is not encouraging a race to the bottom.” Recently, the Federal Housing Finance Agency, acting in its capacity as conservator of Freddie Mac and Fannie Mae, made some modest changes in the pricing of mortgage risk. These modest changes [...]
Improved Retirement Savings
Robert Merton (School of Management Distinguished Professor of Finance at MIT Sloan School of Management, 1997 Nobel Prize in Economics and GCFP co-director) has long advocated for better ways to save for retirement. His concept of Retirement Security Bonds (RSB’s) would allow [...]
Former GCFP Senior Distinguished Fellow Ben Bernanke wins Nobel Prize
The Golub Center congratulates the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2022 winner, Ben S. Bernanke.
Why Today’s Inflation Is a Fiscal and Credit Policy Hangover
This blog post is based on a talk presented at the Shadow Open Market Committee on February 11, 2022. The opinions expressed are my own and not those of the MIT Golub Center for Finance and Policy.
The Flip Side Podcast: Is the US ready for a carbon tax?
Economists view a carbon tax as an effective solution to lower emissions, yet the US has not implemented one. Has the time come? Jeff Meli and MIT Professor Deborah J. Lucas discuss on The Flip Side Podcast Episode 39: Is the US ready for a carbon tax?
