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Category Archives: Economy

Are you in the global middle class?

“On a global scale, just 13% of the world’s population could be considered middle income in 2011, according to a new Pew Research Center analysis of the most recently available data. Most people in the world were either low income (56%) or poor (15%), while only 9% lived at an upper-middle-income standard and 7% were high income. See where you fit. Start by entering your household’s income in 2014 in the currency of your country (our study covers 111 countries). This could be in daily, weekly, monthly or annual terms. Ideally, it should be the total income of all earners in the household. Your best guess will do. Next, enter the number of people in your household, including yourself. (Pew Research Center does not store or share any of the information you enter.)”

Agencies Provide Additional Guidance for Certain Resolution Plans

News release: “The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on Tuesday provided guidance to 119 firms that in December will be filing updated resolution plans. Based on a review of their plans submitted late last year, the agencies are tailoring the requirements for the submissions. Some firms will receive individual feedbackContinue Reading

Global Publics: Economic Conditions Are Bad

“Seven years after the beginning of the global financial crisis, a Pew Research Center survey of 40 nations finds that publics in fewer than half the countries have a positive view of their economy. A median of just 40% in advanced economies say economic conditions are good, as do 45% in emerging economies and 46%Continue Reading

Current Federal Reserve Policy Under the Lens of Economic History

Federal Reserve Bank of St. Louis – Current Federal Reserve Policy Under the Lens of Economic History: A Review Essay by Stephen Williamson. Working Paper 2015-015. “This review essay is intended as a critical review of Humpage (2015), and it expands on the issues raised in that volume. Federal Reserve Policy during the financial crisis,Continue Reading

GAO Reports – Defense Energy, Facilities Modernization, International Insurance Capital Standards, Mortgage Reforms, Prescription Drugs

Defense Energy: Observations on DOD’s Investments in Alternative Fuels, GAO-15-674: Published: Jul 27, 2015. Publicly Released: Jul 27, 2015. Facilities Modernization: DOD Guidance and Processes Reflect Leading Practices for Capital Planning, GAO-15-489: Published: Jul 27, 2015. Publicly Released: Jul 27, 2015. International Insurance Capital Standards: Collaboration among U.S. Stakeholders Has Improved but Could Be Enhanced,Continue Reading

International banking statistics at end-March 2015

“The Bank for International Settlements (BIS) today released international banking statistics at end-March 2015. Global cross-border claims of BIS reporting banks continued to expand in early 2015, rising by $755 billion between end-December 2014 and end-March 2015. The latest quarterly increase lifted the annual growth rate of claims to 6%, compared with -2% a yearContinue Reading

Taming Leviathan

Boettke, Peter J. and Palagashvili, Liya, Taming Leviathan (July 24, 2015). GMU Working Paper in Economics. Available for download at SSRN: “The current public debt crises in Western democratic countries provide an important illustration of what Adam Smith had described as the “juggling trick” – namely deficit increases, accumulation of debt, and debasement ofContinue Reading

Northern Light Launches Competitive Intelligence Portal

Remember Northern Light web search engine – going back to the time I launched – see this News release: “Northern Light® today launched Millie™ (, the first market and competitive intelligence portal available free on the web. Millie is structured as a series of industry-specific dashboards, making it easy to find useful information inContinue Reading

Attention Effects in a High-Frequency World

Chakrabarty, Bidisha and Moulton, Pamela C. and Wang, Xu (Frank), Attention Effects in a High-Frequency World (July 23, 2015). Available for download at SSRN: “How does limited attention affect stock prices in today’s computer-driven financial markets? We study this issue by re-examining the effects of limited attention using a dataset that separately identifies tradesContinue Reading

EU Economic and Financial Affairs Council Reports

“Economic, fiscal and employment policies – Recommendations to the member states – The Council issued country-specific recommendations and opinions on the economic, fiscal and employment policies planned by the member states, as well as a specific recommendation on the economic policies of the euro area.  Adoption of the texts, following their endorsement by the EuropeanContinue Reading

Can Desalination Counter the Drought?

The New Yorker: “The waves of the Pacific seem to taunt the thirsty landscape of California. The state has eight hundred and forty miles of coastline adjoining the world’s largest ocean—an oversupply of brine at a time when drought has left fallow more than half a million acres of farmland, claimed some twenty thousand jobs,Continue Reading

Staff economic projections June 16-17, 2015 FOMC meeting inadvertently included in file posted to Board’s site

“Economic projections prepared by Federal Reserve Board staff as background for the June 16-17, 2015, meeting of the Federal Open Market Committee (FOMC) were inadvertently included in a computer file posted to the Board’s public website on June 29. Because the information has already been released, the Federal Reserve is today providing general public notificationContinue Reading