Anna Kovner

Nov 14, 2024 | richmondfed.org | Beverly Hirtle |Anna Kovner

Letters of recommendation from faculty advisors play a critical role in the job market for Ph.D. economists. At their best, they can convey important qualitative information about a candidate, including the candidate's potential to generate impactful research. But at their worst, these letters offer a subjective view of the candidate that can be susceptible to conscious or unconscious bias.

Nov 8, 2024 | mdpi.com | Anna Kovner |Yaroslav K. Kapushchak |Oxana G. Zaparina |Dmitry Ponomarev

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Oct 22, 2024 | richmondfed.org | Anna Kovner

To be sure, not everything is going badly for this sector. The U.S. economy has been strong and resilient. This means a strong reservoir of demand for all types of commercial activities, ranging from hotels to rental housing. Properties evolve as demand evolves, with renovations leading to new lives for office and commercial spaces. The question for monetary policymakers and bank supervisors is this: Will CRE losses ricochet through the U.S. economy?

Oct 9, 2024 | richmondfed.org | Beverly Hirtle |Anna Kovner

October 2024, No. 24-11 Demographic Differences in Letters of Recommendation for Economics Ph.D. Students Download paper We analyze 6,400 letters of recommendation for more than 2,200 economics and finance Ph.D. graduates from 2018 to 2021. Letter text varies significantly by field of interest, with significantly less positive and shorter letters for Macroeconomics and Finance candidates.

Sep 20, 2024 | richmondfed.org | Nina Boyarchenko |Domenico Giannone |Anna Kovner

September 2024, No. 24-08 Bank Capital and Real GDP Growth Download paper We find evidence that bank capital matters for the distribution of future GDP growth but not its central tendency. Growth in the aggregate bank capital ratio compresses the tails of expected GDP growth, a relationship that is particularly robust in reducing the probability of the worst GDP outcomes.