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Category Archives: Economy

CB0O Answers to Questions About Dynamic Analysis

Keith Hall, CBO Director – “In May, the Congress adopted a concurrent resolution on the budget for fiscal year 2016. That resolution requires CBO, to the greatest extent practicable, to incorporate macroeconomic effects into its 10-year cost estimates for major legislation that Congressional committees approve. Such estimates must also include, when practicable, a qualitative assessment of the budgetary effects for the following 20 years. Incorporating such macroeconomic feedback into cost estimates is often called dynamic scoring. Last month I gave a presentation at the Heritage Foundation to describe how CBO will implement dynamic scoring in response to that new requirement. Since the Congressional budget process was established in the 1970s, CBO’s cost estimates have typically not included dynamic analysis. (Among the few exceptions was our cost estimate in 2013 for immigration legislation that would have substantially increased the U.S. labor force.)…n light of our recent work and the budget resolution’s new requirement, I want to share CBO’s answers to several questions about dynamic analysis that we received from Members of Congress after hearings earlier this year before the Senate Budget Committee. (You can view the complete set of questions and CBO’s answers from the January 28 [2015] and June 16 [2015] hearings on our website.)”

Greece: Preliminary Draft Debt Sustainability Analysis

International Monetary Fund – IMF Country Report No. 15/165. July 2, 2015 – “At the last review in May 2014, Greece’s public debt was assessed to be getting back on a path toward sustainability, though it remained highly vulnerable to shocks. By late summer 2014, with interest rates having declined further, it appeared that noContinue Reading

GAO Reports – VA Disability Benefits, Navy Working Capital Fund, Electricity, Federal Transit Benefits, Medicaid, Youth Athletes

Veterans’ Disability Benefits: VA Can Better Ensure Unemployability Decisions Are Well Supported, GAO-15-464: Published: Jun 2, 2015. Publicly Released: Jul 2, 2015. Navy Working Capital Fund: Budgeting for Carryover at Fleet Readiness Centers Could Be Improved, GAO-15-462: Published: Jun 30, 2015. Publicly Released: Jun 30, 2015. Electricity: Generation Mix Has Shifted, and Growth in ConsumptionContinue Reading

GAO – Bank and Other Depository Regulators Need Better Data Analytics

Cybersecurity: Bank and Other Depository Regulators Need Better Data Analytics and Depository Institutions Want More Usable Threat Information, GAO-15-509: Published: Jul 2, 2015. Publicly Released: Jul 2, 2015. “Regulators use a risk-based examination approach to oversee the adequacy of information security at depository institutions—banks, thrifts, and credit unions—but could better target future examinations by analyzingContinue Reading

Medicare Advantage 2015 Spotlight: Enrollment Market Update

Kaiser Family Foundation – Jun 30, 2015 | Gretchen Jacobson, Anthony Damico, Tricia Neuman, and Marsha Gold “Despite concerns that reductions in payments to Medicare Advantage plans enacted in the Affordable Care Act of 2010 (ACA) would lead to reductions in Medicare Advantage enrollment, the number and share of Medicare beneficiaries enrolling in Medicare AdvantageContinue Reading

Federal Funding for Science and Engineering Declined by $1B

“In FY 2013, federal agencies obligated $29 billion to 995 academic institutions for science and engineering (S&E) activities. This represents a 6% decrease in current dollars from the $31 billion obligated to 1,073 academic institutions in FY 2012. This is the third year in a row of declining S&E funding to academic institutions. These statisticsContinue Reading

Federal Reserve Board releases first determination of aggregate consolidated liabilities of all financial companies

“The Federal Reserve Board on [July 1, 2015] released its first determination of the aggregate consolidated liabilities of all financial companies in accordance with section 622 of the Dodd-Frank Act, which prohibits any financial company from combining with another company if the resulting company’s liabilities exceed 10 percent of the aggregate consolidated liabilities of allContinue Reading

Report: Solar energy benefits vastly outweigh costs

Environment New York – “Households and businesses with solar panels deliver greater benefits than they receive through programs like net metering, a report said today, countering increasing complaints from utilities that solar homeowners don’t pay their fair share. “While some utilities claim they’re subsidizing solar panel owners, our report shows the opposite is probably true,” said Heather Leibowitz,Continue Reading

Paper – Major Defects of the Market Economy

Kakarot-Handtke, Egmont, Major Defects of the Market Economy (June 28, 2015). Available for download at SSRN: http://ssrn.com/abstract=2624350 “When we characterize an argument that has no sound theoretical foundation as political, then what has been produced by economists so far is political economics. However, since the Classics and Marx all major economic schools have defended theContinue Reading

Paper – China’s Growing Energy Demand: Implications for the US

Working Paper Series – Congressional Budget Office Washington, DC. China’s Growing Energy Demand: Implications for the United States. Andrew Stocking Formerly an employee of the Congressional Budget Office; Terry Dinan, Congressional Budget Office. June 2015. Working Paper 2015-05. “Growing rapidly in recent decades, China’s demand for energy has nearly doubled since 2005—making China the world’sContinue Reading

OCC’s Quarterly Report on Bank Trading and Derivatives Activities

OCC’s Quarterly Report on Bank Trading and Derivatives Activities: First Quarter 2015 (PDF) –  From the Executive Summary Insured U.S. commercial banks and savings associations reported trading revenue of $7.7 billion in the first quarter, $3.2 billion higher (71.6%) than the fourth quarter, and $1.5 billion higher ( 23.9%) than the first quarter of 2014.Continue Reading

What Do Rating Agencies Think about “Too-Big-to-Fail” Since Dodd-Frank?

Liberty Street Economics – New York Fed – First in a two-part series, Gara Afonso and João Santos: “Did the Dodd-Frank Act end ‘‘too-big-to-fail’’ (TBTF)? In this series of two posts, we look at this question through the lens of rating agencies and financial markets. Today we begin by discussing rating agencies’ views on thisContinue Reading