Will Diamond's guest appearances

Will Diamond

Macro Musings with David Beckworth

HAWK-EYED

OwlTail

In this latest installment, Will Diamond—Assistant Professor of Finance at the Wharton School of Business—joins me to discuss his latest area of research, involving convenience yields and interest rates, as well as some of his other involvements in academia.00:20 - Intro02:08 - What goes into deciding your next topic of research?04:35 - Origins behind passion for banking06:06- Defining convenience yields08:23 - Relationships between convenience yields, interest rates, gov't bonds10:11 - Any takeaways from convenience yields in EM's vs developed countries?11:57 - Role of safe asset demand with respect to convenience yields14:32 - How can we improve monetary policy with this knowledge?@wdiamond_econ @VishnuTreasurer

In this latest installment, Will Diamond—Assistant Professor of Finance at the Wharton School of Business—joins me to discuss his latest area of research, involving convenience yields and interest rates, as well as some of his other involvements in academia. 00:20 - Intro 02:08 - What goes into deciding your next topic of research? 04:35 - Origins behind passion for banking 06:06- Defining convenience yields 08:23 - Relationships between convenience yields, interest rates, gov't bonds 10:11 - Any takeaways from convenience yields in EM's vs developed countries? 11:57 - Role of safe asset demand with respect to convenience yields 14:32 - How can we improve monetary policy with this knowledge? @wdiamond_econ  @VishnuTreasurer

Episode 21: What can convenience yields tell us about economies? With Will Diamond

William Diamond is an Assistant Professor of Finance at the Wharton School of Business at the University of Pennsylvania. Will joins David on Macro Musings to discuss safe assets, convenience yields, bubbles and public debt and the implications for policy. Specifically, David and Will get into competing theories of interest rates and the rise of New Keynesian thinking, the role of the dollar in the global financial system, the drivers behind the growth in US debt, how the construction of risk-free interest rates unaffected by convenience yields on safe assets can improve our understanding of the financial system in times of stress, and much more.   Check out Ideas of India: https://www.discoursemagazine.com/tag/ideas-of-india-podcast/, and subscribe to Ideas of India on your favorite podcast app.   Transcript for the episode can be found  here.   Will’s Twitter: @wdiamond_econ Will’s Wharton profile: https://fnce.wharton.upenn.edu/profile/diamondw/#research   Related Links:   *Threats to Central Bank Independence: High-Frequency Identification with Twitter* by Francesco Bianchi, Thilo Kind &amp; Howard Kung https://www.nber.org/papers/w26308   *Safety Transformation and the Structure of the Financial System* by Will Diamond  https://faculty.wharton.upenn.edu/wp-content/uploads/2017/07/modelwriteupnew23.pdf   *From World Banker to World Venture Capitalist: The US External Adjustment and the Exorbitant Privilege* by Helene Ray and P.O. Gourinchas https://papers.ssrn.com/sol3/papers.cfm?abstract_id=788428   *Rational Bubbles and Public Debt Policy: A Quantitative Analysis* by David Domeij and Tore Ellingsen  https://www.sciencedirect.com/science/article/abs/pii/S0304393218301909   *Liquidity Premiums on Government Debt and the Fiscal Theory of the Price Level* by Aleksander Berentsen and Christopher J. Waller https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2943241   *Risk Free Interest Rates* by Jules H. van Binsbergen, Will Diamond, and Marco Grotteria https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3242836   *Risk-Free Rates and Convenience Yields Around the World* by Will Diamond, Peter Van Tassel  https://faculty.wharton.upenn.edu/wp-content/uploads/2021/11/newdraft_11132021formatfix.pdf   David’s Twitter: @DavidBeckworth David’s blog: http://macromarketmusings.blogspot.com/

William Diamond is an Assistant Professor of Finance at the Wharton School of Business at the University of Pennsylvania. Will joins David on Macro Musings to discuss safe assets, convenience yields, bubbles and public debt and the implications for policy. Specifically, David and Will get into competing theories of interest rates and the rise of New Keynesian thinking, the role of the dollar in the global financial system, the drivers behind the growth in US debt, how the construction of risk-free interest rates unaffected by convenience yields on safe assets can improve our understanding of the financial system in times of stress, and much more. Check out Ideas of India: <a href="https://www.discoursemagazine.com/tag/ideas-of-india-podcast/" rel="nofollow" target="_blank">https://www.discoursemagazine.com/tag/ideas-of-india-podcast/</a>, and subscribe to Ideas of India on your favorite podcast app. Transcript for the episode can be found <a href="https://www.mercatus.org/macro-musings/will-diamond-safe-assets-risk-free-rates-and-convenience-yields-and-their" rel="nofollow" target="_blank"> here.</a> Will’s Twitter: @wdiamond_econ Will’s Wharton profile: <a href="https://fnce.wharton.upenn.edu/profile/diamondw/#research" rel="nofollow" target="_blank">https://fnce.wharton.upenn.edu/profile/diamondw/#research</a> Related Links: *Threats to Central Bank Independence: High-Frequency Identification with Twitter* by Francesco Bianchi, Thilo Kind &amp; Howard Kung <a href="https://www.nber.org/papers/w26308" rel="nofollow" target="_blank">https://www.nber.org/papers/w26308</a> *Safety Transformation and the Structure of the Financial System* by Will Diamond <a href="https://faculty.wharton.upenn.edu/wp-content/uploads/2017/07/modelwriteupnew23.pdf" rel="nofollow" target="_blank"> https://faculty.wharton.upenn.edu/wp-content/uploads/2017/07/modelwriteupnew23.pdf</a> *From World Banker to World Venture Capitalist: The US External Adjustment and the Exorbitant Privilege* by Helene Ray and P.O. Gourinchas <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=788428" rel="nofollow" target="_blank">https://papers.ssrn.com/sol3/papers.cfm?abstract_id=788428</a> *Rational Bubbles and Public Debt Policy: A Quantitative Analysis* by David Domeij and Tore Ellingsen <a href="https://www.sciencedirect.com/science/article/abs/pii/S0304393218301909" rel="nofollow" target="_blank"> https://www.sciencedirect.com/science/article/abs/pii/S0304393218301909</a> *Liquidity Premiums on Government Debt and the Fiscal Theory of the Price Level* by Aleksander Berentsen and Christopher J. Waller <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2943241" rel="nofollow" target="_blank">https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2943241</a> *Risk Free Interest Rates* by Jules H. van Binsbergen, Will Diamond, and Marco Grotteria <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3242836" rel="nofollow" target="_blank">https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3242836</a> *Risk-Free Rates and Convenience Yields Around the World* by Will Diamond, Peter Van Tassel <a href="https://faculty.wharton.upenn.edu/wp-content/uploads/2021/11/newdraft_11132021formatfix.pdf" rel="nofollow" target="_blank"> https://faculty.wharton.upenn.edu/wp-content/uploads/2021/11/newdraft_11132021formatfix.pdf</a> David’s Twitter: @DavidBeckworth David’s blog: <a href="http://macromarketmusings.blogspot.com/" rel="nofollow" target="_blank">http://macromarketmusings.blogspot.com/</a>