Do I use $300,000 of my $1.2 million retirement savings so my daughter can attend her dream college?

This paper examines optimal currency demands for global equity and bond investors in a large cross-section of developed and emerging markets over the 1975-2023 period. It extends the framework of Campbell et al. (2010) by incorporating both optimal portfolio-risk minimizing currency exposures, accounting for empirically measured hedging costs arising from deviations of Covered Interest Parity…

Imagine that history made one small exception. For one evening only, time stopped separating generations. High above the noise of a packed World Cup final game, in a quiet corner of the grandstand untouched by television cameras, eight elderly gentlemen quietly took their seats. No one around them seemed to notice. The crowd had come…

Time: 4pm to 5pm | Location: Bank of England, Threadneedle Street, London, EC2R 8AH and MS teams Minutes Item 1 – Welcome The Chair opened the meeting by reminding members of the guidelines provided to members of the Banknote Imagery Expert Panel which informed their nominations that the animals on the shortlist should be wild,…

Shortly before defeating incumbent John Cornyn in a “bitter” primary runoff for the Lone Star State’s Republican US Senate nominee this November, Texas Attorney General Ken Paxton sued Netflix. Among other allegations, the lawsuit contends that the streaming service “is engineered to be addictive” and that its “autoplay [function] is a dark pattern designed to…

We are grateful for comments to Larry Ball, Yuriy Gorodnichenko, Ina Hajdini, Lubos Pastor, seminar participants at the University of Chicago, Harvard, University of Iowa, and participants at the NBER Inflation: Frontiers or Research and Policy conference. The views expressed herein are those of the authors and do not necessarily reflect the views of the…

Moonshot AI’s new open model is catching up to Anthropic and OpenAI, raising questions about the future of the AI race.