Columbia Economics Review
2012-2013 Board Reveal
- Details
- Hits: 461
Welcome and congratulations to the new Columbia Economics Review editorial board. All the best to the outgoing board members. Thanks to all who had applied.
Forum with Prof. Kojima, Stanford University
- Details
- Hits: 99
Wednesday, March 28, 2012
6-8 PM
SIPA IAB 1027
Fuhito Kojima is professor of economics at Stanford. He is currently a visiting professor in Columbia economics department.
His teaching and research reside in Game Theory (matching/assignment problems, auction, evolution/learning) and Market Design.
Kojima holds a PhD from Harvard and graduated summa cum laude from University of Tokyo.
Pricing Risk? It's Greek To Me
- Details
- Hits: 439
Pricing of CDS on Greek Public Debt During the Eurozone Crisis
Stefano Giulietti (Yale University)
The Greek sovereign debt crisis is a growing threat to the solvency of the European banking system. Markets have certainly been paying close attention to the situation, as investors seek to hedge and speculate on Greece's sovereign risk. The most commonly used tool for hedging this credit risk is a credit default swap (CDS), a type of derivative that protects the lender in case of default. In 2010, Greece found itself facing an unsustainable 144 percent debt-to-GDP ratio. Previous years of steady growth and falling bond yields had allowed the country to run large deficits. Yet when Prime Minister Papandreou took power in 2009 and revealed that the previous government had deliberately misreported debt data, investors began to lose faith in the country's solvency, and yields on Greek bonds increased dramatically.
Going Gray: Who Pays?
- Details
- Hits: 445
Aging Economies: Demographics and Growth in Japan's Prefectures from 1975-1999
Anoushka Vaswani
What are the implications of an aging population on economic growth? As one of the most rapidly aging countries in the world, Japan faces this critical economic question. In the January issue of Foreign Affairs, Former U.S. Secretary of Commerce Peter Peterson calls the aging of the world's population a 'global hazard' more potent than 'the proliferation of nuclear, biological and chemical weapons, other types of high-tech terrorism, deadly super-viruses, extreme climate change, the financial, economic, and political aftershocks of globalization and the violent ethnic explosions waiting to be detonated in today's unsteady new democracies.' The Economist less sensationally warns that Japan 'is heading into a demographic vortex' and 'needs a grand plan for an aging population.'
