Author Archives: Shusen Qi

Rising concerns about policy uncertainty

By | April 22, 2021

Both the Federal Open Market Committee and the International Monetary Fund have blamed uncertainty about fiscal, regulatory, and monetary policy decisions as a major contributor to the 2008-09 global financial crisis and the slow recoveries afterwards. Recently, due to trade tensions and the pandemic, concerns about policy uncertainty have intensified. As a result, the ability to operate amidst an uncertain economic policy environment is becoming indispensable for any modern… Read More »

Climate Change Risk and the Costs of Mortgage Credit

By | February 15, 2021

A new challenge: pricing climate risks  In recent remarks, financial regulators across the globe have stressed the importance of understanding the effect of climate risks on the financial system. In a statement released on November 9, 2020, Governor Lael Brainard of the U.S. Federal Reserve stressed the importance of lenders’ abilities to identify and measure the risks posed by climate change. In particular, she emphasizes the importance of moving “from… Read More »