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    Cold Call
    A podcast featuring faculty discussing cases they've written and the lessons they impart.
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    • 03 Dec 2019
    • Cold Call Podcast

    Why CalSTRS Chooses to Engage with the Gun Industry

    Should large institutional investors divest or engage if they have an issue with a company? In a recent case study, Vikram Gandhi discusses how CalSTRS, the $200 billion pension plan for California public school teachers, chose to engage with gun makers and retailers.  Open for comment; 0 Comment(s) posted.

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    • 29 Jan 2019
    • Research & Ideas

    'Green Bonds' May Be Our Best Bet for Environmental Damage Control

    by Michael Blanding

    The popularity of green bonds as a way to finance environmentally friendly projects is on the upswing, say Malcolm Baker and George Serafeim. Open for comment; Comment(s) posted.

    • 03 Jan 2019
    • Working Paper Summaries

    Financing the Response to Climate Change: The Pricing and Ownership of US Green Bonds

    by Malcolm Baker, Daniel Bergstresser, George Serafeim, and Jeffrey Wurgler

    Green bonds are used for environmentally friendly purposes like renewable energy. Complementing previous research, this paper explores the US corporate and municipal green bond and shows that a subset of investors is willing to give up some return to hold green bonds.

    • 26 Jun 2018
    • Working Paper Summaries

    The Impact of Pensions and Insurance on Global Yield Curves

    by Robin Greenwood and Annette Vissing-Jorgensen

    The global financial crisis and its aftermath had a dramatic impact on the solvency of pension funds and insurance companies. Drawing on a large cross-section of countries, this paper shows the importance of pension and insurance companies in determining the yields on long maturity bonds around the world.

    • 15 Sep 2017
    • Working Paper Summaries

    Debt Redemption and Reserve Accumulation

    by Laura Alfaro and Fabio Kanczuk

    This study examines how reserve accumulation affects governments’ decisions to default. The analysis assumes that countries can accumulate reserves and borrow internationally using their own currency. Results suggest that the optimal level of international reserves is fairly large because their cost is mitigated by valuation-smoothing gains. The model matches some features of Brazil’s economic fluctuations.

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