Research Briefs

The Chazen Institute features a snapshot of new research being conducted by Chazen Senior Scholars and its implications for global business. Links open into PDFs.


The Downside of Deposit Insurance

October 2018 — In “The Spread of Deposit Insurance and the Global Rise in Bank Asset Risk Since the 1970s,” Charles Calomiris, Chazen Senior Scholar at Columbia Business School, and his co-author track the expansion of deposit insurance generosity - and show that its steady rise has increased asset risk in banking systems by freeing banks from the constraints of market discipline.


The Optimal State of Monetary Unions

September 2018 — In “Money, Sovereignty, and Optimal Currency Areas,” Patrick Bolton, Chazen Senior Scholar at Columbia Business School, and his co-author examine the costs of joining a monetary union and propose a pathway forward that would help member countries like those in the European Union avoid debt defaults.


The Rise of Activist Arbitrage

September 2018 — In “Activist Arbitrage in M&A Acquirers,” Wei Jiang, Chazen Senior Scholar at Columbia Business School, and her co-authors study a new phenomenon in shareholder activism and provide evidence on how it affects target firms and activists returns.