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Category Archives: Economy

U.S. Satisfaction Generally Stable at 22% – Gallup

Would tie 2010 as lowest midterm election reading by Jeffrey M. Jones “Twenty-two percent of Americans are satisfied and 76% are dissatisfied with the way things are going in the U.S. at this time. Americans’ satisfaction has been quite stable this year, ranging narrowly between 22% and 25%. The last time a majority of Americans were satisfiedContinue Reading

The Information Content of Insider Trades around Government Intervention during the Financial Crisis

Jagolinzer, Alan D. and Larcker, David F. and Ormazabal, Gaizka and Taylor, Daniel J., The Information Content of Insider Trades around Government Intervention during the Financial Crisis (August 14, 2014). Rock Center for Corporate Governance at Stanford University Working Paper No. 189. Available for download at SSRN: http://ssrn.com/abstract=2480796 “This paper examines whether insiders at leading financialContinue Reading

As machines take on more human work, what’s left for us?

Drew Desilver: “For decades, labor economists have sought to quantify and predict the the impact of computer technology on both current and future employment, a subject that a new Pew Research Center report probed with a survey of nearly 1,900 experts. Computers had typically been thought of as best suited for jobs that involve routine, repetitive tasks that can easilyContinue Reading

Consumer advisory: Virtual currencies and what you should know about them

CFPB: “You may have heard about virtual currencies like Bitcoin, XRP, and Dogecoin. But what are virtual currencies? What’s this “to the moon!” business on the internet about? And, as a consumer, what risks should you be aware of? While virtual currencies offer the potential for innovation, a lot of big issues have yet to beContinue Reading

After the Boom–Commodity Prices and Economic Growth in Latin America and the Caribbean

IMF, Bertand Gruss, August 14, 2014. Working Paper No. 14/154. “After skyrocketing over the past decade, commodity prices have remained stable or eased somewhat since mid-2011—and most projections suggest they are not likely to resume the upward trend observed in the last decade. This paper analyzes what this turn in the commodity price cycle may imply forContinue Reading

Looking under the Hood of the Subprime Auto Lending Market

“Today, the New York Fed released the Quarterly Report on Household Debt and Credit for the second quarter of 2014. Aggregate debt was relatively flat in the second quarter as housing-related debt shrank, held down by sluggish mortgage originations. But non-housing debt balances increased across the board, with especially strong gains in auto loans. Auto loan balances,Continue Reading

Where We Came From, State by State – Graphics

New York Times: “The movement of people among the states can have a bigger influence than immigration on society. We charted how Americans have moved since 1900.” See also via Scout: New Upshot Tool Provides Historical Look at Migration Migration Study Shows Illinois Residents Bolt State For Warm Climates American Migration [Interactive Map] A State-by-StateContinue Reading

Broker-Dealer Finance and Financial Stability – Speech

“In a speech in New York, Federal Reserve Bank of Boston President Eric Rosengren called for a comprehensive re-evaluation of the regulation of broker-dealers (intermediaries that effect transactions in securities), given the lessons of the financial crisis. “Broker-dealers played a dramatic role during the crisis,” said Rosengren. Given their dependence on unstable, short-term funding, “broker-dealers canContinue Reading

Macroprudential frameworks: (too) great expectations?

Macroprudential frameworks: (too) great expectations? Contribution by Mr Claudio Borio, Head of the Monetary and Economic Department of the Bank for International Settlements, to the 25th anniversary edition of Central Banking Journal, originally published on 5 August 2014. “Macroprudential frameworks are a welcome response to the Great Financial Crisis. As long argued by the BIS, a strongerContinue Reading

Only 1.3 Billion Worldwide Employed Full Time for Employer – Gallup

Northern America, former Soviet Union lead in Payroll to Population: “About one in four adults worldwide — or roughly 1.3 billion people — worked full time for an employer in 2013. Gallup’s Payroll to Population (P2P) rate, which reports the percentage of the total adult population that works at least 30 hours per week forContinue Reading

Managerial Performance Incentives and Firm Risk During Economic Expansions and Recessions

Raviv, Alon and Savaser, Tanseli and Sisli Ciamarra, Elif, Managerial Performance Incentives and Firm Risk During Economic Expansions and Recessions (August 6, 2014). Available for download at SSRN: http://ssrn.com/abstract=2476964 “In this paper, we argue that the relationship between managerial pay-for-performance incentives and risk taking is procyclical. We study the relationship between incentives provided by stock-based compensationContinue Reading

The Regulatory Price-Tag: Cost Implications of Post-Crisis Regulatory Reform

The Regulatory Price-Tag: Cost Implications of Post-Crisis Regulatory Reform. Federal Financial Analytics, Inc. July 30, 2014. “The total cost of all of the rules that can be reliably and comparably correlated across the six U.S. global systemically-important banks (G-SIBs) assessed in this study is $70.2 billion. The increase in the cost of regulation under these rules forContinue Reading