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When does the stock market listen to economic news?

Ivan Medovikov – Department of Economics, Brock University, Ontario, Canada, October 30, 2014.

“We study association between macroeconomic news and stock market returns using the statistical theory of copulas, and a new comprehensive measure of news based on the indexing of news wires. We find the impact of economic news on equity returns to be nonlinear and asymmetric. In particular, controlling for economic conditions and surprises associated with releases of economic data, we find that the market reacts strongly and negatively to the most unfavourable macroeconomic news, but appears to largely discount the good news. This relationship persists throughout the different stages of the business cycle.”

The Miner’s Dilemma – Paper

The Miner’s Dilemma – Ittay Eya, November 26, 2014 “An open distributed system can be secured by requiring participants to present proof of work and rewarding them for participation. The Bitcoin digital currency introduced this mechanism, which is adopted by almost all contemporary digital currencies and related services.  A natural process leads participants of such systemsContinue Reading

Coresident Grandparents and Their Grandchildren: 2012

“American households include a variety of living arrangements. Recent trends in increased life expectancy, single parent families, and female employment, increase the potential for grandparents to play an important role in the lives of their grandchildren. Increases in grandparents living with grandchildren are one way that the grandparent role has changed. This report explores the complexity of households in which grandparents andContinue Reading

Stubborn Things: An Empirical Approach to Facts, Opinions, and the First Amendment

Herz-Roiphe, Daniel, Stubborn Things: An Empirical Approach to Facts, Opinions, and the First Amendment (November 25, 2014). 103 Michigan Law Review First Impressions (2014 Forthcoming). Available for download at SSRN: http://ssrn.com/abstract=2530768 “This essay offers an empirical approach to assessing whether compelled disclosures are “factual” for the purposes of the First Amendment — the central issue atContinue Reading

EPIC Uncovers DOD Student Recruiting Database Privacy Protections

“The Department of Defense has released to EPIC documents on the “Joint Advertising and Market Research Studies” Recruiting Database. The database includes sensitive student information, including home address and grade point average. DOD obtains this information from high schools offering military aptitude tests, state DMVs, and commercial data brokers. The documents sought by EPIC shedContinue Reading

U.S. gasoline prices this Thanksgiving are the lowest since 2009

EIA: “U.S. retail regular-grade gasoline prices continue to decline, averaging $2.82 per gallon (gal) as of November 24. This average is 47 cents lower than a year ago, and the lowest price heading into a Thanksgiving holiday since 2009. Traditionally, the Thanksgiving holiday is one of the most traveled times of the year in theContinue Reading

Spending by Households, Companies Propels U.S. Economy

Bloomberg Consumer Comfort Index: “The world’s largest economy grew faster in the third quarter than first estimated, capping its strongest six months in a decade, as consumers went shopping and companies boosted spending. Gross domestic product rose at a 3.9 percent annualized rate, exceeding all forecasts of economists surveyed by Bloomberg and up from an initialContinue Reading

Human rights abuses ‘leave a third of Libyans with mental health problems’ – UKGuardian

“Research by Dignity – the Danish Institute against Torture – shared with the Guardian, paints a devastating picture of the human consequences of the regionalism, tribalism and factionalism that have wracked the north African country since the overthrow of Muammar Gaddafi three-and-a-half years ago. A fifth of households (20%) had a family member who had disappeared,Continue Reading

A Silver Bullet for the European Crisis – Brookings

Carlo Bastasin – “The European Central Bank (ECB) has recently acknowledged the dangers of a prolonged period of overly low inflation in the euro area. In fact, in recent months inflation developments have continued to surprise on the downside. The level of consumer prices has declined from a high of more than 3 percent at theContinue Reading

Committee on Ways and Means Green Book

“Since 1981, the Committee on Ways and Means has published the Green Book, which presents background material and statistical data on the major entitlement programs and other activities within the Committee’s jurisdiction. Over the decades, the Green Book has become a valuable resource and standard reference on American social policy. It is widely used byContinue Reading

Intelligence Authorization Legislation for FY2014 and FY2015

CRS – Intelligence Authorization Legislation for FY2014 and FY2015: Provisions, Status, Intelligence Community Framework, Anne Daugherty Miles, Analyst in Intelligence and National Security Policy. November 20, 2014 November 20, 2014. “An Intelligence Authorization Act (IAA) for Fiscal Years (FY) 2014 and 2015 (H.R. 4681) was considered in May 2014 and passed by the House but not by the Senate.Continue Reading

Climate Change Indicators in the United States

“The Earth’s climate is changing. Temperatures are rising, snow and rainfall patterns are shifting, and more extreme climate events—like heavy rainstorms and record high temperatures—are already taking place. Scientists are highly confident that many of these observed changes can be linked to the climbing levels of carbon dioxide and other greenhouse gases in our atmosphere,Continue Reading