An explicit solution to #blackscholes implied #volatility that's 3.4× faster than SOTA benchmarks? Good work!
Even cooler that it comes out of the University of #Liechtenstein.
"Responses to Extreme Temperatures: Migrant Networks and International Migration from El Salvador", Ibáñez, Quigua, Romero & Velásquez (AEJ Policy, 2026)
We show that exposure to extreme temperatures significantly increases international migration from El Salvador, where nearly **a quarter** of the population lives in the United States.
Responses to Extreme Temperatures: Migrant Networks and International Migration from El Salvador by Ana Maria Ibáñez, Juliana Quigua, Maria Jimena Romero and Andrea Velásquez. Published in volume 18, issue 2, pages 212-41 of American Economic Journal: Economic Policy, May 2026, Abstract: We show...
Just catching up on my mail, when I (belatedly) saw April's NBER digest:
China's Rise in Global Research
"Between 1980 and 2022, China's share of global research publications in **top journals** rose from a negligible level to 32 percent, while the US share declined from 60 to about 24 percent."
The Geography of Science (NBER Working Paper 34694), Abhishek Nagaraj and Randol Yao.
Once home, ... Mr. Kissinger scolded but did not punish them, and even said that they had done a “wonderful, heroic job,” Mr. Rosenblatt recalled in the oral history, adding that Mr. Kissinger also told them, “We left Vietnam without much honor, but you two guys acted honorably.”
... Mr. Rosenblatt’s father told The Washington Post..., “My son must be guided by the Talmudic teaching: ‘He who saves a human life is as if he saved the whole world.’”
https://www.nytimes.com/2026/04/25/world/asia/lionel-rosenblatt-dead.html
5/n
To prepare documents for Vietnamese colleagues to leave aboard U.S. military aircraft, Mr. Johnstone found a typewriter in a friend’s apartment. He and Mr. Rosenblatt also obtained departure forms, stamps and consular seals from sympathetic embassy colleagues.
The two men set up in a bowling alley on the military side of the airport ... then shepherded their Vietnamese friends to planes... After five tense days with little food or sleep, the two Americans left Saigon.
4/n
Mr. Rosenblatt shaved his bushy mustache and wore a hat to disguise himself. Also concerned with being detected by the South Vietnamese police, they used false IDs and drove a 30-year-old Citroën, and other cars that friends had abandoned upon leaving Saigon, to rendezvous with Vietnamese colleagues. Both spoke Vietnamese, and Mr. Rosenblatt was fluent in French.
“Everybody thought we were Corsican gangsters,” he said in the oral history ... “So nobody messed with us.”
3/n
The two Americans arrived on April 22 amid chaos at Tan Son Nhat International Airport in Saigon, aboard one of the last scheduled Pan Am flights into the country. From a colleague at the American Embassy, they learned that their mission had been discovered by higher-ups, and that they were to be sent home.
Fearing arrest, Mr. Rosenblatt said in a 2013 oral history, he and Mr. Johnstone “ran away as fast as we could” and went underground.
2/n
When Graham Martin, the U.S. ambassador to South Vietnam, suggested that most Vietnamese refugees should head to coastal points, where American ships would attempt to pick them up, Mr. Rosenblatt and Mr. Johnstone, both of whom had served in diplomatic postings in Vietnam, grew alarmed at his seeming indifference toward the Vietnamese who were not high-ranking officials. So they secretly devised their own evacuation plan to assist former colleagues and their families.
1/n
"I think an invisible Trump class battleship could have saved Phelan's job. Imagine a stealth battleship only the worthy could see and would be something Trump could post endless messages about. And, an invisible battleship could be built more quickly and, possibly, more cheaply even after a huge payback by the chosen vendor to one of Trump's personal companies. It could have been a win-win for the President."
dkaro
https://www.nytimes.com/shared/comment/4fkg8r?rsrc=cshare&smid=url-share