Ben Lester
@benjamminlester
Followers
2K
Following
4K
Media
52
Statuses
1K
Economist studying macro, labor, finance.
Philadelphia, PA
Joined November 2012
Just got my copy! What are you waiting for? Order now and check this awesome interview with @poweill
@benjamminlester and Julien Hugonnier at @_SaMMF_ in the link below! https://t.co/y7tyQKbW1r
Advance copy of our book, The Economics of Over-the-Counter Markets has arrived! So thankful for my co-authors @poweill and Julien Hugonnier, and for our publisher @PrincetonUPress. Order your copy! Discount code in thread below. #econtwitter (1/4)
0
3
4
Huge congrats to my colleague Allison Shertzer and her co-authors!
0
1
9
The CMSG is one of the most special conferences in the profession. Little budget. Everyone pays their way. Even discussants. And yet…always amazingly high quality and fun. So sorry to miss it this year, but happy my paper made it on the program. Wish I could be there.
I am organizing this year's CMSG meetings with @Baxter_VHR The CMSG is Canada's flagship Macro conference and is not just for Canadians! Registration is now open (only 100 CAD/73 USD!!) Please retweet and reach out if you have any questions, we have an amazing program!
0
1
4
The International Economic Review has just published a new exciting paper by Yuko Imura and Julia Thomas on the Productive Misallocation and International Transmission of Credit Shocks. It is available through @WileyEconomics here:
onlinelibrary.wiley.com
We study the role of international trade in cross-country financial shock transmission using an equilibrium business cycle model calibrated to the United States and Canada. Heterogeneous firms have...
1
11
33
This list is obviously outdated. For the book that will make you look smart yet sexy, intelligent with just the right amount of mysteriousness, all while teaching you a topic for a killer job market paper, look no further…
5 Great Econ Books to Pretend to Read at Cafes (with associated comments) 1) Microeconomic Theory - Mas-Colell et al A classic for postgrads, and you'll build biceps just by lugging it around. Be sure to comment on how "rigorous" it is and that it changed your life
0
2
9
In short, this is an exciting area of research with lots of new data available and new modeling techniques that can be used to interpret the data and confront pressing policy questions. So if you're sitting in your cubicle looking for a topic...check out this book!
0
1
4
There are also two chapters with brand new results about how to introduce private information -- either about traders or about asset quality -- to study price discrimination, illiquidity, and crises.
1
0
4
We also show how to study a model where dealers themselves trade in an OTC inter-dealer market, so you an study the effects of an increase in dealers' balance sheet costs (say, bc of regulation) on liquidity provision.
1
0
2
Just a few examples: we show how to solve a model of OTC markets with a request for quotes (RFQ) system, so you can study the effects of introducing an electronic trading platform.
1
1
4
The first few chapters are technical, teaching all the tools you need to understand this class of models. But the second half of the book is all about how to extend/modify the benchmark to answer both theory and empirical questions (i.e., write your thesis!)
1
0
4
With new school year starting, seems like a good time to remind PhD students in econ and finance to check out our new book, the Economic of Over-the-Counter Markets, available from @PrincetonUPress at link below. A thread about why the book is useful
press.princeton.edu
An essential primer on an important yet understudied type of financial market
3
18
125
Our LIFE survey provides unique and timely insights into households' labor market status, current financial situation, and expectations for the future. Check it out! 👇
Insights from the @philadelphiafed Consumer Finance Institute’s Labor, Income, Finances, and Expectations Survey help us better understand consumer behavior & its impact on the economy, which is core to the Philly Fed’s mission to foster economic stability https://t.co/C0oxP8nYTB
0
2
6
🔖 The @_SaMMF_ Fall 2025 schedule is LIVE! I'm thrilled to announce our lineup of virtual speakers in Macro and Finance. 📅 Sep 8: Randall Wright 📅 Oct 6: Brendan Daley 📅 Nov 10: Guillaume Rocheteau 📅 Nov 24: @SakiBigio All seminars are at 12pm ET on Zoom. Register on
0
7
30
We splurged and bought a new @Thermador refrigerator. Just over a year later and the ice machine breaks. You’d think they might stand by their product and replace it, since it’s barely outside of the warranty window? Nope. No wiggle room. Super disappointing.
1
0
1
On my way to the @SEDmeeting. Can’t wait to see everyone in Copenhagen!
0
0
8
Interesting @EconTalker pod w @NoahOp. Russ criticized competitive model & seemed to be searching for...models of decentralized trade! Thankfully there is a huge lit based on search models doing almost exactly what he described. May I humbly suggest:
0
6
10
My book with @poweill and Julien Hugonnier on the Economics of Over-the-Counter Markets is officially in stock and ready to ship! If you are interested in ordering the book from @PrincetonUPress, discount code 👇
2
35
114
Welcome to @philadelphiafed to our new president @annap_2013!
Excited to share I’ve been named the next president of @philadelphiafed starting in July. I’m honored and thrilled by the opportunity to lead the bank and look forward to becoming part of the community in the 3rd District. https://t.co/A1t3pYhGhq
0
1
11
Register now for the next @_SaMMF_ seminar! 🎓 👩💻Presenter: Katarina Borovickova (@RichFedResearch) ⏰When: Monday, April 7, at 12:00pm ET (9am LA, 5pm London) 📄Paper: "Assortative Matching and Wages" with Rob Shimer Registration: https://t.co/k7IVTWymmQ
@ioannis_kospe
0
7
15