More details about her research can be found on her website. Its assets were primarily funded by uninsured deposits. On March 13, 2023, just three days after the collapse of Silicon Valley Bank (SVB), Professor Erica Jiangand three co-authors published a paper showing in exquisite detail just how vulnerable the US banking system was to the risks that doomed SVB: Monetary Tightening and U.S. Bank Fragility in 2023: Mark-to-Market Losses and Uninsured Depositor . About Welcome! Fuel 102, 567-573, 2012. Watts JM (1987) Expert systems. . Erica Jiang Profiles | Facebook The team estimated that SVB saw a -15.7% decline in asset value. Die mit, Besttigte E-Mail-Adresse bei marshall.usc.edu -, SF Cherry, EX Jiang, G Matvos, T Piskorski, A Seru, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2745711, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3556917, S Cherry, E Jiang, G Matvos, T Piskorski, A Seru, Involve, a Journal of Mathematics 8 (4), 629-636. Marshall Assistant Professor Erica Jiangs Research on Bank Stability Found Highly Relevant in the Wake of SVBs demise. Erica Jiang's Phone Number and Email Last Update. Please, On March 13, 2023, just three days after the collapse of Silicon Valley Bank (SVB), Professor. ". " Fire Technol. If 50% of uninsured deposits left, 186 banks would be insolvent representing $300 billion of uninsured deposits. View the profiles of professionals named "Erica Jiang" on LinkedIn. Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. WFA Cubist Systematic Strategies PhD Candidate Award for Outstanding Research 2020, with Susan Cherry, Gregor Matvos, Tomasz Piskorski and Amit Seru, Brookings Papers on Economic Activity, 2022, Press: NBER Digest [Link], USC Marshall Feature Article [Link], Fortune [Link], Money Magazine [Link], Brookings [Link], INET Debt Talks: The Case for Household Debt Relief. Xin Jiang - GitHub Pages 2018 IEEE Conference on Decision and Control (CDC), 5910-5915 . These offered detailed breakdowns of their assets and liabilities. First, Buffington et al. 2011. Merged citations. BS Artificial Intelligence for Business (BUAI), BS Real Estate Finance and Development (REFD), MS Global Supply Chain Management (MSGSCM), Master of Business Taxation for Working Professionals (MBT.WP), GC in Optimization + Supply Chain Management, GC in Library and Information Management Online, Lloyd Greif Center for Entrepreneurial Studies (BAEP), Peter Arkley Institute for Risk Management, Randall R. Kendrick Global Supply Chain Institute, Lloyd Greif Center for Entrepreneurial Studies, Institute for Outlier Research in Business, Neely Center for Ethical Leadership and Decision Making. [Paywall], Work by JIANG, assistant professor of finance and business economics, and co-authors is highlighted in a piece on THE ECONOMIST looking at the systemic flaws in America's banking industry. Cele marcate, The Journal of nutrition 138 (11), 2106-2110, SM Sacco, JMY Jiang, S Reza-Lpez, DWL Ma, LU Thompson, WE Ward. Marshall School of Business, University of Southern California. What doomed SVB was too many company treasurers sitting on large uninsured accounts worrying they may not get back all money. Her finding is that the current US deposit insurance system is a de-facto subsidy to small banks. A case study of the recently failed Silicon Valley Bank (SVB) is illustrative. Will the mega-banks swallow up smaller competitors and get bigger from this crisis? Assets covered included loans and traded securities, such as MBS, CMBS, ABS, and Treasuries and together comprised 72% of the $24 trillion in US bank assets. Deposit Outflows Shine Light on Fed Program That Pays Money-Market Funds. Brown et al. They need to grapple with moral hazard and legislative constraints. March 15, 2022. Fire Technol. Provided by the Springer Nature SharedIt content-sharing initiative, Special Issue on Smart Systems in Fire Engineering, https://doi.org/10.1007/s10694-021-01196-w, https://doi.org/10.1007/s10694-020-01069-8, https://doi.org/10.1007/s10694-020-01028-3, https://doi.org/10.1007/s10694-020-01035-4, https://doi.org/10.1007/s10694-020-00985-z, https://doi.org/10.1007/s10694-020-01037-2, https://doi.org/10.1007/s10694-020-01036-3, https://doi.org/10.1007/s10694-020-01055-0, https://doi.org/10.1007/s10694-020-01062-1, https://doi.org/10.1007/s10694-020-01071-0, https://doi.org/10.1007/s10694-021-01112-2, https://doi.org/10.1007/s10694-020-01080-z, https://doi.org/10.1007/s10694-021-01096-z, https://doi.org/10.1007/s10694-021-01098-x, https://doi.org/10.1007/s10694-021-01108-y, https://doi.org/10.1007/s10694-020-01042-5, https://doi.org/10.1007/s10694-020-01054-1, https://doi.org/10.1007/s10694-021-01126-w, https://doi.org/10.1007/s10694-021-01157-3. The latest interviews, quotes, citations, and research in the media. It also explores how they overcome these challenges while maintaining the status quo. 4: 2021: Role of deep learning in wireless communications. We document five facts. My research focuses on the industrial organization of financial intermediation, household finance and financial regulation. In other words, insured deposits present a substantially larger part of funding for small banks than large banks. Species Abundance and Reaction Off-Rate Regulate Product Formation in Reactions Accelerated Using Isotachophoresis. By using this site, you agree to its use of cookies. 10 percent of banks have larger unrecognized losses than those at SVB. Jie Jiang - Google Scholar Jingjing Jiang - Google Scholar V Lachance, Q Wang, E Sweet, I Choi, CZ Cai, XX Zhuang, Y Zhang, J Ruksenaite, A Volkmer, J Jiang, JCS Johnson, CR Marshall, JD Warren, Current neurology and neuroscience reports 21, 1-12. In the end, if you ask me what will happen, the government needs to rely on other banks to take over, like what happened to First Citizens Bank and SVB.. https://doi.org/10.1007/s10694-020-01055-0, Baek J, Alhindi TJ, Jeong YS, Jeong MK, Seo S, Kang J, Choi J, Chung H (2021) Real-time fire detection algorithm based on support vector machine with dynamic time warping kernel function. Global Business Strategy Business Intelligence Lead at Google . C Jiang, C Wolverton, J Sofo, LQ Chen, ZK Liu. There is little political appetite for that currently. This special issue aims to highlight the unprecedented potential for leveraging . RESEARCH: Relevant Research at the Right Time - USC Marshall [13] proposed an end-to-end attentive DesmokeGAN procedure that implements visual attention into a Generative Adversarial Network (GAN) to effectively learn the smoke features and their surroundings. But looking at just the asset impairment missed the bigger issue. Google Scholar atau Google Cendekia merupakan layanan pencarian karya ilmiah dari berbagai disiplin ilmu dalam skala luas. https://doi.org/10.1007/s10694-020-01035-4, Wu X, Park Y, Li A, Huang X, Xiao F, Usmani A (2021) Smart detection of fire source in tunnel based on the numerical database and artificial intelligence. We study the suspension of household debt payments (debt forbearance) during the COVID-19 pandemic. volume57,pages 27372740 (2021)Cite this article. https://doi.org/10.1007/s10694-021-01108-y, Wgrzyski W, Krajewski G, Kimbar G (2021) Smart smoke control as an efficient solution for smoke ventilation in converted cellars of historic buildings. Follow. Fire Technol. Disparities in consumer credit: The role of loan officers in the FinTech era, Financing competitors: Shadow bank funding and mortgage market competition. Your gift helps advance ideas that promote a free society. Follow. View the profiles of people named Erica Jiang. Collectively, the aforenoted contributions provide us with a glimpse of the future of fire engineering. (3) Like banks, shadow banks finance themselves primarily with short-term debt and originate . Doi: https://doi.org/10.1007/s10694-020-01069-8, Li Z, Huang Y, Li X, Xu L (2020) Wildland fire burned areas prediction using long short-term memory neural network with attention mechanism. Incredibly, the paper was released just three days later on March 13th to wide public interest. SVB gathered a lot of deposits during the pandemic technology funding boom, tripling in size. J Jiang, JCS Johnson, MC Requena-Komuro, E Benhamou, J Jiang, J Johnson, MC Requena-Komuro, E Benhamou, JL Agustus, A Volkmer, TH Jeong, J Jiang, EV Brotherhood, L Dobson, CJD Hardy, C TaylorRubin, B Taylor, E Harding, AS Gonzalez, J Jiang, J Johnson, B Levett, MC Requena-Komuro, E Benhamou, J Jiang, Alzheimer's Association International Conference. JIANG, assistant professor of finance and business economics, and co-authors are showcased in a FINANCIAL TIMES piece discussing the fragility of the U.S. banking system. Fire Technol 57, 27372740 (2021). The idea behind this issue stems from the success noted in parallel fields (such as medicine, space exploration, etc. Combined, losses and uninsured leverage provide incentives for an SVB uninsured depositor run. Fire Technol. To Jiang and the team, this shows that analyzing liability structure, particularly in uninsured deposits, is crucial to controlling risks of bank runs. [14] created a validated non-immersive virtual reality prototype that can be used for healthcare fire safety training. deposits. J Jiang, W Liu, J Cheng, L Yang, H Jiang, D Bai, W Liu. Interesting, bank capital was something Matvos researched in a 2017 paper on financial fragility, which suggested that >18% capital requirement led to more stability. Many argue that small banks play important roles in local economies, and some research support this, as highlighted in a recent WSJ article Local Banks Could Leave Gaps That Are Hard to Fill. Google Scholar dirancang untuk membantu pengguna dalam mencari literatur yang tersebar dari seluruh dunia penelitian ilmiah. . https://doi.org/10.1007/s10694-020-01037-2, Cabrera JM, Ezekoye OA, Moser RD (2021) Bayesian inference of fire evolution within a compartment using heat flux measurements. [Paywall]. Erica Jiang's research focuses on financial intermediation, household finance, and financial regulation. M. Z. Naser. This special issue includes 15 original papers and one editorial letter spanning the different dimensions of smart systems at varying scales, including the community, buildings and component systems. Adam Smith Scholar Award 2013-2014 Provosts Gold Scholarship 2011-2015 PROFESSIONAL SERVICES Conference and Program Committee: 2023 Napa/Sonoma Finance Conference, 2023 MFA, SFS Cavalcade North Amer-ica 2022, 2023, WashU Corporate Finance Conference 2022, AFA 2021 Poster Session, USC Macro-Finance Conference 2022, USC Brownbag 2021-2022 To that end, research like the paper Jiang discussed with us today does a lot to help make our financial system safer for all participants. Despite uniform policy and similar borrowers, shadow banks offered debt forbearance at significantly lower (27%) rate compared to traditional banks. More details about her research can be found on her website. Erica Browne conducted and analyzed the pre-/post-Instagram-pilot survey. Moreover, 55% of forbearance is provided to less creditworthy borrowers with above median income and higher debt balances i.e., those excluded from income-based policies, such as the stimulus check program. Follow. IRJE is a biannual, open access, peer-reviewed, and international e-journal, published in Indonesia. The following articles are merged in Scholar. This is encouraging to hear that the teams research can make a difference in making banking safer. Available at SSRN: https://ssrn.com/abstract=4387676, FDIC: Speeches & Testimony - 03/06/2023 - Remarks by FDIC Chairman Martin Gruenberg, Institute of International Bankers, https://www.fdic.gov/news/speeches/2023/spmar0623.html, Koont, N., Santos, T., & Zingales, L. (2023, April 4). . The research was a natural extension of pre-pandemic research conducted with her co-authors Matvos, Piskorski, and Seru that aimed to give a deeper understanding of the funding structure of the US shadow banking sector compared with the formal banking sector. Dear Mahasiswa, Cari Jurnal Gratis Bisa Lewat Google Scholar - detikcom The goal is to use some of the findings in our Banking Without Deposit paper to contribute to the current debate about bank runs and financial stability issues., Among the findings outlined in the research note: The U.S. banking systems market value of assets is $2 trillion lower than suggested by their book value of assets accounting for loan portfolios held to maturity. [Paywall], Cited: Erica Jiang in The Washington Post, Research by JIANG, assistant professor of finance and business economics, and colleagues is featured in a WASHINGTON POST Op-Ed that sees a bleak future for the global economy. Borrowers self-selection is a powerful force in determining forbearance rates: relief flows to households suffering pandemic induced shocks who would have otherwise faced debt distress. Fire Technol 23:12. ncercai din nou mai trziu. [18] combined probabilistic and surrogate modeling techniques to evaluate the fire response of concrete slabs. [5] was added to a regular issue by mistake. Work by JIANG, assistant professor of finance and business economics, and colleagues underpins a piece in the FT calling for banks to be more intentional with practices going forward. . And she notes there is already some technology and automation, for example in conducting stress tests. Folgende Artikel sind in Scholar zusammengefhrt. Perhaps the most surprising result of our paper is that the banks deviation in capital structure choices from those of shadow banks are the largest for small banks. Perhaps there could be more crowdsourcing of analysis and ideas from stakeholders such as the academic community. Das System kann den Vorgang jetzt nicht ausfhren. [11] also applied machine learning to develop a framework that prevents cooktop ignitions. Based on Jiang et als research, the sector is in need of recapitalization, but upward pressure on rates would make it more difficult. What sets Hoover apart from all other policy organizations is its status as a center of scholarly excellence, its locus as a forum of scholarly discussion of public policy, and its ability to bring the conclusions of this scholarship to a public audience. New articles by this author. Small banks are substantially less capitalized than shadow banks of corresponding size, and rely substantially less on uninsured debt funding. Anderson M, Jiang J. If interest rate increases are small such that the banks decline in asset values is relatively small, there is no risk of a run equilibrium. Shadow banks, which presumably do not have the same guarantees, maintain an average capital ratio of 25%, more than twice the 11% of regular banks. Many argue that small banks play important roles in local economies, and some research support this, as highlighted in a recent WSJ article. Between March 2020 and May 2021, more than 70 million consumers with loans worth $2.3 trillion entered forbearance, missing $86 billion of their payments. Teens, . As Jiang, notes, this crisis was not a case of a lack of relevant data. [4] combined citizen scientists with transfer machine learning to identify fire hazards in communities. The ones marked * may be different from the article in the profile. IEEE Transactions on Vehicular Technology 70 (5), 4669-4681, 2021. Banks with smaller initial capitalization and higher uninsured leverage have a smaller range of beliefs supporting a good no run equilibrium, increasing their fragility to uninsured depositor runs. Erica Xuewei Jiang - Google Scholar This study aims to analyze the experiences and challenges of Korea's junior female academics (JFAs), whose work environments align closely with the cultural context of a patriarchal society that follows neoliberal principles. Enter the email address you signed up with and we'll email you a reset link. 3/13/2023 3:05 AM. The original papers are briefly described herein. Metrics. Contact. Adam Smith Scholar Award 2013-2014 Provosts Gold Scholarship 2011-2015 PROFESSIONAL SERVICES Conference and Program SFS Cavalcade North America 2022: Program Committee USC Brownbag 2021-2022: Organizer SFS Cavalcade North America 2021: Session Chair for Banking After the Financial Crisis AFA 2021: Poster Session Selection Committee Referee This is similar in scale to total equity in the US banking system and markedly more than the $620 billion estimate, Some explanation for why SVB got into this situation was discussed in a prior. Read More . Resolving the Banking Crisis - ProMarket Eric Jiang - Google Scholar This "Cited by" count includes citations to the following articles in Scholar. Die, Dieser Wert bei "Zitiert von" enthlt Zitate der folgenden Artikel in Scholar. Add co-authors Co-authors. J Med Internet Res 2015; 17. Urmtoarele articole sunt fuzionate n Google Academic. Shadow bank distress and household debt relief: Evidence from the cares act, Differentiation with respect to parameters of solutions of nonlocal boundary value problems for difference equations, Collateral value uncertainty and mortgage credit provision, US Bank Fragility to Credit Risk in 2023: Monetary Tightening and Commercial Real Estate Distress, Brookings Papers on Economic Activity: Fall 2021, Government and Private Household Debt Relief during COVID-19 (preprint). 2018 - 2022 Activities and Societies: International Business Association - 2014 - 2018 Activities and Societies: Field Hockey Courses Business Communications - Business Finance - Intermediate. Follow. https://doi.org/10.1007/s10694-020-01080-z, Huang Y, Chen X, Xu L, Li K (2021) Single image desmoking via attentive generative adversarial network for smoke detection process. University of Southern California Marshall School of BusinessCopyright 2001 - 2023, Assistant Professor of Finance and Business Economics, More BS Artificial Intelligence for Business (BUAI), More BS Real Estate Finance and Development (REFD), More MS Entrepreneurship + Innovation (MSEI), More MS Global Supply Chain Management (MSGSCM), More Master of Business for Veterans (MBV), More MS Business Administration (MSBUSAD), More Master of Business Taxation for Working Professionals (MBT.WP), More GC in Financial Analysis + Valuation, More GC in Optimization + Supply Chain Management, More GC in Strategy + Management Consulting, More GC in Library and Information Management Online, More Leventhal School of Accounting (ACCT), More Lloyd Greif Center for Entrepreneurial Studies (BAEP), More Peter Arkley Institute for Risk Management, More Randall R. Kendrick Global Supply Chain Institute, More Lloyd Greif Center for Entrepreneurial Studies, More Institute for Outlier Research in Business, More Neely Center for Ethical Leadership and Decision Making, University of Southern California Marshall School of Business, BANKING WITHOUT DEPOSIT: EVIDENCE FROM SHADOW BANK CALL REPORTS. The system can't perform the operation now. PubMedGoogle Scholar. Google Scholar, Naser MZ (2021), Mechanistically informed machine learning and artificial intelligence in fire engineering and sciences, Fire Technol. More Posts By Erica . (March 13, 2023). There are 30+ professionals named "Erica Jiang", who use LinkedIn to exchange information, ideas, and opportunities. Little did we know, Prof. Jack Watts (a former Editor-in-Chief of Fire Technology) had in fact published a short editorial titled Expert systems in 1987 [1]; foreseeing the use of smart systems in fire engineering. They also maintain lower capital ratios, which they are allowed to under rules. Facebook gives people the power to. About the Journal | Indonesian Research Journal in Education |IRJE| Assistant Professor of Finance and Business Economics Erica Xuewei Jiang. A working paper was published in March 2020 titled. Chao Jiang - Google Scholar More BS Artificial Intelligence for Business (BUAI), More BS Real Estate Finance and Development (REFD), More MS Entrepreneurship + Innovation (MSEI), More MS Global Supply Chain Management (MSGSCM), More Master of Business for Veterans (MBV), More MS Business Administration (MSBUSAD), More Master of Business Taxation for Working Professionals (MBT.WP), More GC in Financial Analysis + Valuation, More GC in Optimization + Supply Chain Management, More GC in Strategy + Management Consulting, More GC in Library and Information Management Online, More Leventhal School of Accounting (ACCT), More Lloyd Greif Center for Entrepreneurial Studies (BAEP), More Peter Arkley Institute for Risk Management, More Randall R. Kendrick Global Supply Chain Institute, More Lloyd Greif Center for Entrepreneurial Studies, More Institute for Outlier Research in Business, More Neely Center for Ethical Leadership and Decision Making, University of Southern California Marshall School of Business, Assistant Professor of Finance and Business Economics. Work byJIANG, assistant professor of finance and business economics, and co-authors is central to a piece in FORTUNE looking at the very real possibility of further crises in the banking sector. Whether or not this is the best cost-benefit solution is an open question. [Paywall], Research: Relevant Research at the Right Time. Google Scholar. https://www.wsj.com/articles/deposit-outflows-shine-light-on-fed-program-that-pays-money-market-funds-6763e11c, Lahart, J., & Demos, T. (2023, March 18). But the bank was not great at finding lending opportunities, so it bought a number of fixed-income securities right when prices were highest. In a few easy steps, create an account and receive the most recent analysis from Hoover fellows tailored to your specific policy interests. The researchers in this study analyzed Google Scholar usage data from 2006 for three library tools at San Francisco State University: SFX link resolver, Web Access Management proxy server, and ILLiad interlibrary loan server. Monetary Tightening and U.S. Bank Fragility in 2023: Mark-to-Market Some pundits and politicians have argued that not backing all deposits effectively favoring the Goliaths over the Davids. Add co-authors Co-authors. American Economic Review, 107 (1): 169-216. Journal of the Franklin Institute 357 (18), 13569-13592, 2020. D Popp, F Vona, G Marin, Z Chen, G Chodorow-Reich, VA Ramey, S Cherry, EX Jiang, G Matvos, T Piskorski, A Seru, Neue Artikel, die mit der Forschung dieses Autors in Zusammenhang stehen, Kellogg School of Management, Northwestern University, Besttigte E-Mail-Adresse bei kellogg.northwestern.edu, Professor of Finance, Stanford Graduate School of Business, Besttigte E-Mail-Adresse bei stanford.edu, Professor of Finance and Edward S. Gordon Professor of Real Estate, Columbia Business School, Besttigte E-Mail-Adresse bei gsb.columbia.edu, George Kozmetsky Centennial Distinguished University Chair and Professor of Finance, McCombs School, Besttigte E-Mail-Adresse bei mail.utexas.edu, Assistant Professor of Finance, University of Chicago Booth School of Business, Besttigte E-Mail-Adresse bei chicagobooth.edu, Besttigte E-Mail-Adresse bei anderson.ucla.edu, Government and private household debt relief during COVID-19, Banking without deposits: Evidence from shadow bank call reports, Economic Policy Uncertainty and Learning: Theory and Evidence on Mutual Funds.
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