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Category Archives: Economy

The FRBNY DSGE Model Forecast

Matthew Cocci, Marco Del Negro, Stefano Eusepi, Marc Giannoni, and Sara Shahanaghi - Fifth in a five-part series “This series examines the Federal Reserve Bank of New York’s dynamic stochastic general equilibrium (FRBNY DSGE) model—a structural model used by Bank researchers to understand the workings of the U.S. economy and provide economic forecasts.The U.S. economy has been inContinue Reading

Minimum efficiency standards for electric motors will soon increase

“Nearly half of the electricity consumed in the manufacturing sector is used for powering motors, such as for fans, pumps, conveyors, and compressors. About two thirds of this machine-drive consumption occurs in the bulk chemicals, food, petroleum and coal products, primary metals, and paper industries. For more than three decades the efficiency of new motors has been regulated byContinue Reading

New GAO Reports – Freight Transportation, Managing for Results, U.S. Currency

FREIGHT TRANSPORTATION: Developing National Strategy Would Benefit from Added Focus on Community Congestion Impacts, GAO-14-740: Published: Sep 19, 2014. Publicly Released: Sep 26, 2014. MANAGING FOR RESULTS: Agencies’ Trends in the Use of Performance Information to Make Decisions - GAO-14-747: Published: Sep 26, 2014. Publicly Released: Sep 26, 2014 U.S. CURRENCY: Reader Program Should Be Evaluated While Other Accessibility Features for Visually ImpairedContinue Reading

Systemically Important or “Too Big to Fail” Financial Institutions

CRS – Systemically Important or “Too Big to Fail” Financial Institutions. Marc Labonte, Specialist in Macroeconomic Policy. September 19, 2014. “Although “too big to fail” (TBTF) has been a perennial policy issue, it was highlighted by the near-collapse of several large financial firms in 2008. Financial firms are said to be TBTF when policy makers judge that their failure wouldContinue Reading

Assessment of the FRBNY DSGE Model’s Real-Time Forecasts, 2010-13

Matthew Cocci, Marco Del Negro, Stefano Eusepi, Marc Giannoni, and Sara Shahanaghi  - Fourth in a five-part series “This series examines the Federal Reserve Bank of New York’s dynamic stochastic general equilibrium (FRBNY DSGE) model—a structural model used by Bank researchers to understand the workings of the U.S. economy and provide economic forecasts.The previous post in thisContinue Reading

2012 Business Dynamics Statistics

“The Business Dynamics Statistics provide annual statistics on establishments, firms, and job creation and job destruction from 1976 to 2012 by firm age and size. These statistics are crucial to understanding current and historical U.S. entrepreneurial activity. The statistics come from a collaboration between the Census Bureau’s Center for Economic Studies, the Small Business Administration,Continue Reading

New GAO Reports – Aviation, Cloud Computing, Data Center Consolidation, Littoral Combat Ship, Overseas Real Property

AVIATION: Impact of Fuel Price Increases on the Aviation Industry, GAO-14-331: Published: Sep 25, 2014. Publicly Released: Sep 25, 2014. CLOUD COMPUTING: Additional Opportunities and Savings Need to Be Pursued, GAO-14-753: Published: Sep 25, 2014. Publicly Released: Sep 25, 2014. DATA CENTER CONSOLIDATION: Reporting Can Be Improved to Reflect Substantial Planned Savings, GAO-14-713: Published: Sep 25, 2014. Publicly Released: Sep 25, 2014. LITTORALContinue Reading

Moody’s – Largest Public Pensions Face $2 Trillion Gap

Brian Chappatta – Bloomberg: “The 25 largest U.S. public pensions face about $2 trillion in unfunded liabilities, showing that investment returns can’t keep up with ballooning obligations, according to Moody’s Investors ServiceThe 25 biggest systems by assets averaged a 7.45 percent return from 2004 to 2013, close to the expected 7.65 percent rate, Moody’s saidContinue Reading

How Much (More) Should CEOs Make? A Universal Desire for More Equal Pay

Kiatpongsan, Sorapop, and Michael I. Norton. How Much (More) Should CEOs Make? A Universal Desire for More Equal Pay. Perspectives on Psychological Science (forthcoming). “Do people from different countries and different backgrounds have similar preferences for how much more the rich should earn than the poor? Using survey data from 40 countries (N = 55,238), we compare respondents’ estimates ofContinue Reading

The Middle-Class Squeeze – Report

Jennifer Erickson | September 24, 2014, Center for American Progress “The American middle class is in trouble. The middle-class share of national income has fallen, middle-class wages are stagnant, and the middle class in the United States is no longer the world’s wealthiest. But income is only one side of the story. The cost of being in the middleContinue Reading

The Effect of Firm Bankruptcy on Retiree Benefits, with Applications to the Automotive and Coal Industries

CRS – The Effect of Firm Bankruptcy on Retiree Benefits, with Applications to the Automotive and Coal Industries. Carol Rapaport, Analyst in Health Care Financing, September 22, 2014. “Benefits for retired employees are of particular interest to policy makers because of the growing number of retirees and forecasts indicating that some future retirees may not have the necessary financialContinue Reading

Updated reverse mortgage guide: Two things you should know

CFPB: “More and more homeowners are considering tapping their home equity as they approach retirement age. Getting a reverse mortgage is one way that some older homeowners can do that. Reverse mortgages are a special type of home equity loan sold to homeowners aged 62 years and older, which are repaid when the borrowers sellContinue Reading