Joan and Sanford Weill Hall Annenberg Auditorium (1120)
Federal Reserve Bank Vice Chair for Supervision Michael S. Barr, former dean of the Ford School, will discuss the workings of the Fed, his work on banking reform, and the lessons of leadership he has learned in his career in and out of government service.
Join Ford School professors Betsey Stevenson, Justin Wolfers, and Ford School Dean Michael S. Barr for a discussion on the challenges of navigating an economic crisis during the COVID-19 public health emergency.
The Data Privacy and Portability in Financial Technology Symposium celebrates the Michigan Technology Law Review’s 25th Anniversary by hosting an event dedicated to cutting-edge scholarship at the intersection of technology and the law. Specifically, this symposium is designed to examine the inherent tensions between securing privacy rights and the ease at which transactions occur, facilitated by new innovative technologies.
This will be a presentation of two large-scale field experiments designed to test the hypothesis that group membership can increase participation and pro-social lending for an online crowdlending community, Kiva. The first experiment uses variations on a simple email manipulation to encourage Kiva members to join a lending team, testing which types of team recommendation emails are most likely to get members to join teams as well as the subsequent impact on lending. We find that emails do increase the likelihood that a lender joins a team, and that joining a team increases lending in a short window following our intervention. The impact on lending is large relative to median lender lifetime loans. We also find that lenders are more likely to join teams recommended based on location similarity rather than team status. Our results suggest team recommendations can be an effective behavioral mechanism to increase pro-social lending. In a second field experiment, we manipulate forum messages to explore the underlying mechanisms for teams to be effective.
Historically, public infrastructure systems such as roads, water utilities, and schools are financed using a combination of tax revenue, government and revenue-backed bonds. This system has repeatedly fallen short due to insufficient tax revenue and political aversion towards funding “social infrastructure”. Especially for schools, the access to quality infrastructure is highly correlated (in the US) to poverty, stemming from property values, credit worthiness and other factors. A recent bill (not passed) required a 1:6 leverage of federal with state and private finance, compared to 1:12 in Europe and 1:30 proposed under the Climate accords. Either infrastructure has not been built or upgraded, or private capital has stepped in the breach. At the Center for Smart Infrastructure Finance, we're asking whether data-driven models can close the gap by taking advantage of the internet of things (IoT): smart sensors that deliver information which can be monetized. This seminar will explore how private financing models that leverage digital data supply chains to attract 'efficient capital' (e.g. insurance, options trades, debt securities, variable interest rate bonds) can be adapted to financing public infrastructure while limiting recourse to the citizens that use it, and leveling the economic disparities of access.
The Federal Office of Financial Research and the University of Michigan are co-hosting this conference to bring together regulators, policymakers, financial market participants, and academic researchers to explore ways of bolstering financial stability.
Gerald R. Ford School of Public Policy
5th Floor Seminar Room
11th Annual Lent Upson Lecture at Wayne State University – Spring 2010 MPPS fiscal data findings The Michigan Public Policy Survey (MPPS) is a program of state-wide surveys of local government leaders in Michigan. The MPPS is designed to fill an important information gap in the policymaking process. While there are ongoing surveys of the business community and of the citizens of Michigan, before the MPPS there were no ongoing surveys of local government officials that were representative of all general purpose local governments in the state.