Finance

Public and Private Equities

Question A:

Although the reported volatility of asset values in private markets (private equity, buyouts, and venture capital) is lower than that of comparable assets in public markets, their true volatility is broadly similar or greater.

Question B:

Since the global financial crisis, the realized returns on private equities have measurably exceeded the returns on public equities.

 
US

Music Event Ticketing

Question A:

The market power of ticket-selling intermediaries leads to consumers who ultimately attend the music events paying substantially more and producers receiving substantially less than they would if the intermediary sector were more competitive.

Question B:

The present system of initial ticket selling and reselling through secondary ticket intermediaries often leads to large transfers between different groups of ticket buyers that could be partially captured by artists through higher initial ticket prices.

Question C:

Artists set prices at less than market-clearing levels in an effort to provide access for fans with modest incomes.

 
Europe

Electric Vehicles

This European survey examines (a) Without government intervention, take-up of electric vehicles will be substantially less than is desirable to reduce carbon emissions; (b) To encourage greater take-up of electric vehicles, public expenditure on infrastructure to support them (such as charging stations) is likely to be more cost-effective than providing equivalent amounts as tax credits/purchase rebates for buyers 
FT-Booth US Macroeconomists Survey

FTxIGM: Unemployment to rise?

This installment of the FTxIGM US Macroeconomists Survey discusses the possibility of rising unemployment vis-a-vis the expectation that the Fed will be able to stem inflation. It also examines the US housing market. The summary results are below and you can read the Financial Times article here, subscription required. View the results of this survey […] 
US

Twitter

This US survey examines (a) Network externalities give Twitter an incumbent advantage that will slow substantially the migration of users who would prefer alternative platforms;
(b) As of now, there needs to be more government regulation around Twitter’s content moderation and personal data protection. 
Europe

Responding to Carbon Leakage

This European survey examines (a) The carbon border adjustment mechanism will ensure that the European Union’s green objectives are not undermined by the relocation of EU production in the sectors under the mechanism to non-EU countries with less ambitious climate policies (‘carbon leakage'); (b) To the extent that the carbon border adjustment mechanism is effective in reducing emissions and carbon leakage, it will impose substantial costs on the economies of poorer countries