Laura Veldkamp
Biographic Data
| ID | 5852026 |
|---|---|
| NAME | Laura Veldkamp |
| GIVEN NAMES | Laura |
| FAMILY NAME | Veldkamp |
| SIGNATURE | VELDKAMP L |
| AFFILIATIONS | National Bureau of Economic Research |
| VERIFIED | No |
| TOTAL WORKS | 3 |
| TOTAL CITATIONS | 3 |
| AUTHOR COUNT | 3 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2011 |
| LATEST PUBLICATION YEAR | 2020 |
| H-INDEX | 1 |
Taking Orders and Taking Notes: Dealer Information Sharing in Treasury Auctions
The use of order-flow information by financial firms has come to the forefront of the regulatory debate. Should a dealer who acquires information by taking client orders be allowed to use or share that information? We explore how information sharing affects dealers, clients, and issuer revenues in US Treasury auctions, in a model calibrated to auction results data, which we use to quantify counterfactuals. Sharing information reduces uncertainty …
The Tail That Wags the Economy: Beliefs and Persistent Stagnation
The Great Recession was a deep downturn with long-lasting effects on credit, employment, and output. While narratives about its causes abound, the persistence of gross domestic product below precrisis trends remains puzzling. We propose a simple persistence mechanism that can be quantified and combined with existing models. Our key premise is that agents do not know the true distribution of shocks but use data to estimate it nonparametrically. Th…
Information Choice in Macroeconomics and Finance
The Tail That Wags the Economy: Beliefs and Persistent Stagnation
The Great Recession was a deep downturn with long-lasting effects on credit, employment, and output. While narratives about its causes abound, the persistence of gross domestic product below precrisis trends remains puzzling. We propose a simple persistence mechanism that can be quantified and combined with existing models. Our key premise is that agents do not know the true distribution of shocks but use data to estimate it nonparametrically. Th…
Information Choice in Macroeconomics and Finance
The Tail That Wags the Economy: Beliefs and Persistent Stagnation
The Great Recession was a deep downturn with long-lasting effects on credit, employment, and output. While narratives about its causes abound, the persistence of gross domestic product below precrisis trends remains puzzling. We propose a simple persistence mechanism that can be quantified and combined with existing models. Our key premise is that agents do not know the true distribution of shocks but use data to estimate it nonparametrically. Th…
Taking Orders and Taking Notes: Dealer Information Sharing in Treasury Auctions
The use of order-flow information by financial firms has come to the forefront of the regulatory debate. Should a dealer who acquires information by taking client orders be allowed to use or share that information? We explore how information sharing affects dealers, clients, and issuer revenues in US Treasury auctions, in a model calibrated to auction results data, which we use to quantify counterfactuals. Sharing information reduces uncertainty …
Economics (3 works) · Computer Science (2 works) · Economic theories and models (2 works) · Finance (2 works) · Macroeconomics (2 works) · Microeconomics (2 works) · Asset (computer security) (1 works) · Auction Theory and Applications (1 works) · Business (1 works) · Business cycle (1 works)