Briefs and Blogs
What is the Social Discount Rate? MIT Economists Weigh In
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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 [...]
Too Many Cooks, Not Enough Risk Management: Gilt Market Dysfunction and Liability-Driven Investment (LDI)
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In this blog post, former Golub Senior Fellow Laura Kodres diagnoses what went wrong in the UK gilt market last autumn and suggests reforms going forward. To access the full study [...]
Edward Golding op-ed on FHFA and mortgage risk pricing
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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
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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 [...]
