Carolyn Sissoko's guest appearances

Carolyn Sissoko

Macro Musings with David Beckworth

Eurodollar University

Greg Ip

Paul Volcker

Adam Tooze

Paul Krugman

Rohan Grey

Izabella Kaminska

Jay Powell

Frances Coppola

Alan Greenspan

Jean-Paul Sartre

Binyamin Appelbaum

Anat Admati

Noah Smith

Robert Hall

George Selgin

OwlTail

Professor Sissoko focuses attention on the fact that the post-2008 financial system has changed dramatically but that technocrats have not tackled what the changes mean. Sissoko discusses the path to the 2008 and 2020 shocks and proposes we turn the clock back to a wiser time.---------SEE IT-----------Alhambra YouTube: https://bit.ly/2Xp3royEmil YouTube: https://bit.ly/310yisL---------HEAR IT----------Vurbl: https://bit.ly/3rq4dPn Apple: https://apple.co/3czMcWNDeezer: https://bit.ly/3ndoVPEiHeart: https://ihr.fm/31jq7cITuneIn: http://tun.in/pjT2ZCastro: https://bit.ly/30DMYzaGoogle: https://bit.ly/3e2Z48MSpotify: https://spoti.fi/3arP8mYPandora: https://pdora.co/2GQL3QgBreaker: https://bit.ly/2CpHAFOCastbox: https://bit.ly/3fJR5xQPodbean: https://bit.ly/2QpaDghStitcher: https://bit.ly/2C1M1GBPlayerFM: https://bit.ly/3piLtjVPodchaser: https://bit.ly/3oFCrwNPocketCast: https://pca.st/encarkdtSoundCloud: https://bit.ly/3l0yFfKListenNotes: https://bit.ly/38xY7pbAmazonMusic: https://amzn.to/2UpEk2PPodcastAddict: https://bit.ly/2V39Xjr----EPISODE #71 TOPICS----01:57 Who is Carolyn Sissoko, associate professor of at the University of the West of England?05:41 What legal decisions led to such a preeminent position for the modern day repo market?11:03 The Fed delivered liquidity in 2008 and 2020 but should markets come to count on it?17:02 Profound legal changes in financial markets caught central bank economists unawares.19:26 A summary of Carolyn's "The Collateral Supply Effect on Central Bank Policy"22:27 When the Fed stopped freely financing intraday credit for banks, it encouraged repo25:30 Is a collateralized loan safer than uncollateralized at both the micro and macro levels?27:36 What 'moment' led to the 'birth' of the modern-day, systemically critical repo market?34:15 Is the repo market inherently and irredeemably unstable?39:27 Is there a solution: central counterparty, dealer of last resort, standing repo facility43:16 Carolyn suggests the best solution is to return to an unsecured interbank money market--------REFERENCES--------Dr. Sissoko's Twitter: https://twitter.com/@csissokoDr. Sissoko's "The Collateral Supply Effect on Central Bank Policy": https://bit.ly/3tCslOVDr. Sissoko on Social Science Research Network: https://bit.ly/3fhK5KjDr. Sissoko's Macro Musings Interview: https://bit.ly/3trTCTV ---------WHO-----------Carolyn Sissoko, associate professor of economics at the University of the West of England with Jeff Snider, Head of Global Investment Research for Alhambra Investments, and Emil Kalinowski. Art by the Mr. Chips of colour, David Parkins. Podcast intro/outro is "Revolt" by Luwaks at Epidemic Sound.

Professor Sissoko focuses attention on the fact that the post-2008 financial system has changed dramatically but that technocrats have not tackled what the changes mean. Sissoko discusses the path to the 2008 and 2020 shocks and proposes we turn the clock back to a wiser time. ---------SEE IT----------- Alhambra YouTube: <a href="https://bit.ly/2Xp3roy" rel="nofollow" target="_blank">https://bit.ly/2Xp3roy</a> Emil YouTube: <a href="https://bit.ly/310yisL" rel="nofollow" target="_blank">https://bit.ly/310yisL</a> ---------HEAR IT---------- Vurbl: <a href="https://bit.ly/3rq4dPn" rel="nofollow" target="_blank">https://bit.ly/3rq4dPn</a> Apple: <a href="https://apple.co/3czMcWN" rel="nofollow" target="_blank">https://apple.co/3czMcWN</a> Deezer: <a href="https://bit.ly/3ndoVPE" rel="nofollow" target="_blank">https://bit.ly/3ndoVPE</a> iHeart: <a href="https://ihr.fm/31jq7cI" rel="nofollow" target="_blank">https://ihr.fm/31jq7cI</a> TuneIn: <a href="http://tun.in/pjT2Z" rel="nofollow" target="_blank">http://tun.in/pjT2Z</a> Castro: <a href="https://bit.ly/30DMYza" rel="nofollow" target="_blank">https://bit.ly/30DMYza</a> Google: <a href="https://bit.ly/3e2Z48M" rel="nofollow" target="_blank">https://bit.ly/3e2Z48M</a> Spotify: <a href="https://spoti.fi/3arP8mY" rel="nofollow" target="_blank">https://spoti.fi/3arP8mY</a> Pandora: <a href="https://pdora.co/2GQL3Qg" rel="nofollow" target="_blank">https://pdora.co/2GQL3Qg</a> Breaker: <a href="https://bit.ly/2CpHAFO" rel="nofollow" target="_blank">https://bit.ly/2CpHAFO</a> Castbox: <a href="https://bit.ly/3fJR5xQ" rel="nofollow" target="_blank">https://bit.ly/3fJR5xQ</a> Podbean: <a href="https://bit.ly/2QpaDgh" rel="nofollow" target="_blank">https://bit.ly/2QpaDgh</a> Stitcher: <a href="https://bit.ly/2C1M1GB" rel="nofollow" target="_blank">https://bit.ly/2C1M1GB</a> PlayerFM: <a href="https://bit.ly/3piLtjV" rel="nofollow" target="_blank">https://bit.ly/3piLtjV</a> Podchaser: <a href="https://bit.ly/3oFCrwN" rel="nofollow" target="_blank">https://bit.ly/3oFCrwN</a> PocketCast: <a href="https://pca.st/encarkdt" rel="nofollow" target="_blank">https://pca.st/encarkdt</a> SoundCloud: <a href="https://bit.ly/3l0yFfK" rel="nofollow" target="_blank">https://bit.ly/3l0yFfK</a> ListenNotes: <a href="https://bit.ly/38xY7pb" rel="nofollow" target="_blank">https://bit.ly/38xY7pb</a> AmazonMusic: <a href="https://amzn.to/2UpEk2P" rel="nofollow" target="_blank">https://amzn.to/2UpEk2P</a> PodcastAddict: <a href="https://bit.ly/2V39Xjr" rel="nofollow" target="_blank">https://bit.ly/2V39Xjr</a> ----EPISODE #71 TOPICS---- 01:57 Who is Carolyn Sissoko, associate professor of at the University of the West of England? 05:41 What legal decisions led to such a preeminent position for the modern day repo market? 11:03 The Fed delivered liquidity in 2008 and 2020 but should markets come to count on it? 17:02 Profound legal changes in financial markets caught central bank economists unawares. 19:26 A summary of Carolyn's "The Collateral Supply Effect on Central Bank Policy" 22:27 When the Fed stopped freely financing intraday credit for banks, it encouraged repo 25:30 Is a collateralized loan safer than uncollateralized at both the micro and macro levels? 27:36 What 'moment' led to the 'birth' of the modern-day, systemically critical repo market? 34:15 Is the repo market inherently and irredeemably unstable? 39:27 Is there a solution: central counterparty, dealer of last resort, standing repo facility 43:16 Carolyn suggests the best solution is to return to an unsecured interbank money market --------REFERENCES-------- Dr. Sissoko's Twitter: <a href="https://twitter.com/@csissoko" rel="nofollow" target="_blank">https://twitter.com/@csissoko</a> Dr. Sissoko's "The Collateral Supply Effect on Central Bank Policy": <a href="https://bit.ly/3tCslOV" rel="nofollow" target="_blank">https://bit.ly/3tCslOV</a> Dr. Sissoko on Social Science Research Network: <a href="https://bit.ly/3fhK5Kj" rel="nofollow" target="_blank">https://bit.ly/3fhK5Kj</a> Dr. Sissoko's Macro Musings Interview: <a href="https://bit.ly/3trTCTV" rel="nofollow" target="_blank">https://bit.ly/3trTCTV</a> ---------WHO----------- <a href="https://twitter.com/@csissoko" rel="nofollow" target="_blank">Carolyn Sissoko</a>, associate professor of economics at the University of the West of England with <a href="https://twitter.com/JeffSnider_AIP" rel="nofollow" target="_blank">Jeff Snider</a>, Head of Global Investment Research for Alhambra Investments, and <a href="https://twitter.com/EmilKalinowski" rel="nofollow" target="_blank">Emil Kalinowski</a>. Art by the Mr. Chips of colour, <a href="https://davidparkins.com/" rel="nofollow" target="_blank">David Parkins</a>. Podcast intro/outro is "<a href="https://www.epidemicsound.com/track/IVLViZIgX0/" rel="nofollow" target="_blank">Revolt</a>" by <a href="https://www.epidemicsound.com/artists/luwaks/" rel="nofollow" target="_blank">Luwaks</a> at <a href="https://www.epidemicsound.com/music/featured/" rel="nofollow" target="_blank">Epidemic Sound</a>.

Interview: Carolyn Sissoko

Carolyn Sissoko is an associate professor of economics at the University of the West of England, and she has written widely on shadow banking, money markets, and the plumbing of the financial system. Carolyn joins Macro Musings to talk about the evolution of money markets over the past few decades, and its implication for both monetary and fiscal policy. Specifically, David and Carolyn discuss the collateral supply effect, the consequences of moving from LIBOR to SOFR, and solutions to other money market concerns.   Transcript for the episode can be found  here.   Carolyn’s Twitter: @csissoko Carolyn’s UWE Bristol profile: https://people.uwe.ac.uk/Person/CarolynSissoko   Related Links:   *The Collateral Supply Effect on Central Bank Policy* by Carolyn Sissoko https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3545546   David’s Twitter: @DavidBeckworth David’s blog: http://macromarketmusings.blogspot.com/

Carolyn Sissoko is an associate professor of economics at the University of the West of England, and she has written widely on shadow banking, money markets, and the plumbing of the financial system. Carolyn joins Macro Musings to talk about the evolution of money markets over the past few decades, and its implication for both monetary and fiscal policy. Specifically, David and Carolyn discuss the collateral supply effect, the consequences of moving from LIBOR to SOFR, and solutions to other money market concerns. Transcript for the episode can be found <a href="https://www.mercatus.org/macro-musings/carolyn-sissoko-collateral-supply-effect-and-other-concerns-money-market" rel="nofollow" target="_blank"> here.</a> Carolyn’s Twitter: @csissoko Carolyn’s UWE Bristol profile: <a href="https://people.uwe.ac.uk/Person/CarolynSissoko" rel="nofollow" target="_blank">https://people.uwe.ac.uk/Person/CarolynSissoko</a> Related Links: *The Collateral Supply Effect on Central Bank Policy* by Carolyn Sissoko <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3545546" rel="nofollow" target="_blank">https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3545546</a> David’s Twitter: @DavidBeckworth David’s blog: <a href="http://macromarketmusings.blogspot.com/" rel="nofollow" target="_blank">http://macromarketmusings.blogspot.com/</a>

Carolyn Sissoko on the Collateral Supply Effect and Other Concerns in the Money Market