Tai Lo Yeung
@tlyeungae
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PhD candidate in Economics Interested in Household Finance | Micro-Founded Macro Models 成すべきことを為す
Joined May 2023
FED CHAIR POWELL: "Risks to inflation are tilted to the upside, and risks employment are tilted to the downside, a challenging situation." Another creative way to say "stagflation."
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It never gets old when it comes out in "print." Did you know that typical Americans now hold more equity in their financial portfolios than 20 years ago, and they slowly decrease equity share as they near retirement? We have all the numbers for estimation. https://t.co/D8ExvyVHRs
onlinelibrary.wiley.com
Using account-level data on millions of U.S. middle-class investors over 2006 to 2018, we characterize the share of investable wealth that they hold in the stock market over their working lives....
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It's bad enough that at one point I was suggesting to someone "why don't you just deliberately insert mistakes so they can feel satisfied about finding those and don't end up fucking with the rest of the paper"
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Two ways to improve economic data in the US (in case anyone is thinking about this at the moment): 1) More funding to gather data, 2) More funding for research on how best to gather and process the data.
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Recently accepted by #QJE, “Investor Memory and Biased Beliefs: Evidence from the Field,” by Jiang (@ProfJiang), Liu, Peng (@peng_cameron), and Yan:
academic.oup.com
Abstract. We survey a large, representative sample of retail investors in China to elicit their memories of stock market investments and their return expec
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Yes but housing has a fundamentally different risk profile. You start your life with a negative exposure to house prices: if you don’t own a house, you’re still consuming from the housing market and are therefore expose to fluctuations of rents and house prices if you intend to
A great paper, "Rate of Return on Everything" (QJE, 2019), looked at this, too. Housing returns have rarely beaten equities. ( https://t.co/EoYeOribwd)
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Curious about belief formation in the presence of fat tails? Check out my new paper with @dthesmar (and two other great co-authors not on X) that we presented at the NBER Behavioral Finance meeting: https://t.co/nzk4JWiiy9 Paper here: https://t.co/8RHfwdVunL Thanks
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BREAKING: Stocks soar as President Trump says he has authorized a 90-day pause on tariffs.
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@sc_cath Wealth inequality is dropping. The world is getting better by the day!
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Mark my words: in about six months, an NBER working paper will compare the futures stock market reaction in countries that were visible on the physical chart (page 1 of the tariffs) versus those on page 2.
Here's the list of Trump's new tariffs (and the completely made-up tariff rates in other countries)
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It's been hard to keep up with the ever-changing rationale for why crypto is valuable, but I think we're converging. It's a payment revolution, it's the new dominant currency for cross-border invoicing, it's a hedge against inflation, it's a hedge against the market, it's the
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Visiting the Finance Dept. at @Wharton via @sc_cath, @tlyeungae studies #HouseholdFinance, examining higher-order labor income risk for portfolio decisions. Moreover, Tai Lo is exploring #BehavioralFinance, focusing on the psychological and social drivers behind decision-making.
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📣#RES2025 Annual Conference Call for Submissions is now open – those wishing to present at #conference can submit a paper or a poster for review. ⏰Deadline 13 January 2025 👉 https://t.co/hErhuqBrIx
#EconTwitter #EconEvents #RESEvents #RESConference
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Applications to our #MSc in #Economics are open! Excellent teacher-to-student ratio, topics at the frontier of econ research, and many RAs and job opportunities while studying. Please apply and share!
📢The MSc in #Economics at @USI_University in Lugano now accepts applications! Entirely taught in English, with a focus on Econ Research, two minors (Data Science and Public Policy), double degrees & excellent prof-to-student ratio. 👉Learn more: https://t.co/3qxORsyfQm
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🚨 Call for Papers 🚨 The 13th Warwick Economics PhD conference will take place 3-5 June 2025. We welcome applications from every field in economics. We offer free accommodation and travel funding! Keynotes by @caria_stefano @AmritaKulka The deadline is 31st January! Link in🧵
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Recalled experiences, influenced by present cues, explain investors' return expectations and dominate actual experiences in their explanatory power, from @ProfJiang, Hongqi Liu, @peng_cameron, and Hongjun Yan https://t.co/qjjT1hI7eg
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Grateful to @RoyalEconSoc for the chance to present at the poster session of the RES PhD Conference 2024. A fantastic opportunity to explore insightful and inspiring research from fellow scholars!
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We have now introduced all this year’s #EconJobMarket candidates from @USI_IDEP! To learn more about our #JMC, their #JMPs and research agendas, take a look at our website: https://t.co/Fh7vzz1Cmb
#EconTwitter
#USIEcon
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Open call for papers, Aging and Health. Conference to be held in Lugano, Switzerland on June 14–16, 2025. Submit papers by 11:59pm EDT on January 7, 2025. More information: https://t.co/ui92dYEBld
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