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Category Archives: Financial System

Cities With the Highest (and Lowest) Unemployment Rates

24/7 Wall St –  “The U.S. labor market has improved remarkably in recent years, as the unemployment rate has fully returned to pre-recession levels. The national unemployment rate reached 4.7% in December, the same as it was in November 2007, the month before the recession officially began. That recovery, of course, has been far from even. In many U.S. metropolitan areas unemployment is now at or below pre-recession levels, and in some metros it remains 4 or 5 percentage points higher than at the end of 2007. Across the country, unemployment rates vary significantly.”

Click here to see the cities with the highest unemployment rates.

Click here to see the cities with the lowest unemployment rates.

Bank Accounts for the Unbanked: Evidence from a Big Bang Experiment

Chopra, Yakshup and Prabhala, Nagpurnanand and Tantri, Prasanna L., Bank Accounts for the Unbanked: Evidence from a Big Bang Experiment (February 12, 2017).  Available at SSRN: https://ssrn.com/abstract=2919091 “Over 2.5 billion individuals around the world are unbanked. How they can be brought into the formal financial system is a question of policy and academic interest. We… Continue Reading

GAO – Presidential and Congressional Transition documents

“During presidential transitions, GAO provides information specifically for new administrations as well as new Congresses. The resources and recommendations here can help policymakers and other leaders find ways to greatly improve government operations and potentially save millions of dollars. Three sets of resources are available here, specifically focusing on the issues and challenges that should… Continue Reading

Savings Externalities in a Second-Best World

Hayashi, Andrew T. and Murphy, Daniel Patrick, Savings Externalities in a Second-Best World (February 16, 2017). Virginia Law and Economics Research Paper No. 2017-03; Virginia Public Law and Legal Theory Research Paper No. 2017-08. Available at SSRN: https://ssrn.com/abstract=2918999 “The debate among legal scholars about individuals’ failure to save enough for retirement happens on a “micro”… Continue Reading

Atlantic FAQ on President Trump and conflict of interest issues

The Atlantic – “President Donald Trump still has not taken the necessary steps to distance himself from his businesses while in office. In accordance with a plan that he and one of his lawyers, Sheri Dillon, laid out at a press conference on January 11, Trump has filed paperwork to remove himself from the day-to-day… Continue Reading

Report – A Close Look at the Decline of Homeownership

Federal Reserve Bank of New York – Liberty Street Economics – Andrew Haughwout, Richard Peach, and Joseph Tracy, February 17, 2017 “The homeownership rate—the percentage of households that own rather than rent the homes that they live in—has fallen sharply since mid-2005. In fact, in the second quarter of 2016 the homeownership rate fell to… Continue Reading

A Critique of the Conventional Problematisation of Social Immobility in Elite Legal Education and the Profession

Ferguson, Lucinda, Complicating the ‘Holy Grail’, Simplifying the Search: A Critique of the Conventional Problematisation of Social Immobility in Elite Legal Education and the Profession (February 16, 2017). The Law Teacher, Vol. 51, (Forthcoming). Available at SSRN: https://ssrn.com/abstract=2919051 “This article challenges the conventional problematisation of and response to insufficient socio-economic diversity in elite legal education… Continue Reading

2016 American Household Credit Card Debt Study

“NerdWallet analyzed data from several sources, including the Federal Reserve Bank of New York and the U.S. Census Bureau, to determine how much debt Americans are carrying, why they have so much debt and how this debt will grow and affect the U.S. economy in the future. As part of NerdWallet’s mission to deliver clarity… Continue Reading

Facebook CEO pens commentary – Building Global Community

Building Global Community –  Mark Zuckerberg, February 16, 2017 – To our community, On our journey to connect the world, we often discuss products we’re building and updates on our business. Today I want to focus on the most important question of all: are we building the world we all want? History is the story… Continue Reading

Fortune – New list of the World’s Most Admired Companies

World’s Most Admired Companies – “Which companies are most respected? Some 3,800 executives, analysts, directors, and experts voted—and here are the results.” “How we conducted the most admired survey – “As we have in the past, Fortune collaborated with our partner Korn Ferry Hay Group on this survey of corporate reputations. We began with a… Continue Reading

Total Household Debt Climbs to $12.58 Trillion, Approaches 2008 Peak

Federal Reserve Bank of New York – Household Debt Edges Up as Auto, Credit Card, and Student Debt Climb –  “The CMD’s latest Quarterly Report on Household Debt and Credit reveals that total household debt increased by 1.8% in the fourth quarter of 2016, rising $226 billion to reach $12.58 trillion, only 99 billion shy… Continue Reading

The moral dilemmas of the Fourth Industrial Revolution

World Economic Forum: “Should your driverless car value your life over a pedestrian’s? Should your Fitbit activity be used against you in a court case? Should we allow drones to become the new paparazzi? Can one patent a human gene? Scientists are already struggling with such dilemmas. As we enter the new machine age, we… Continue Reading