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Category Archives: Financial System

The Evolution of Retirement Wealth

Finance and Economics Discussion Series Divisions of Research & Statistics and Monetary Affairs, Federal Reserve Board, Washington, D.C. The Evolution of Retirement Wealth. Sebastian Devlin-Foltz, Alice M. Henriques, and John Sabelhaus. 2015-009 “Is the current mix of tax preferences for employer-sponsoredpensionsand individual retirementsaving in the U.S. delivering the best possible retirement-preparedness across and within generations?Continue Reading

Evolving Credit and the U.S. Macroeconomy: 1920-2011

Amir-Ahmadi, Pooyan, Evolving Credit and the U.S. Macroeconomy: 1920-2011 (May 17, 2015). Available for download at SSRN: “This paper studies evolving macroeconomic consequences of adverse credit spread shocks for the US economy over the past century. The key objective is to characterize and quantify how the credit transmission mechanism has changed in shaping theContinue Reading

Rethinking Financial Deepening: Stability and Growth in Emerging Markets

IMF – Rethinking Financial Deepening: Stability and Growth in Emerging Markets. May 4, 2015. “The global financial crisis experience shone a spotlight on the dangers of financial systems that have grown too big too fast. This note reexamines financial deepening, focusing on what emerging markets can learn from the advanced economy experience. It finds that gainsContinue Reading

Financial Assistance Measures in the Euro Area from 2008 to 2013

European Central Bank – Financial Assistance Measures in the Euro Area from 2008 to 2013: Statistical Framework and Fiscal Impact – April 2015. “This paper summarises the accounting principles and methodology used by statisticians within the European System of Central Banks (ESCB) to assess the impact on the government’s fiscal position of the assistance measuresContinue Reading

New on LLRX – Book Review – “The Age of Cryptocurrency”

Via – Book Review – “The Age of Cryptocurrency”  – Alan Rothman highlights the increasing impact of an online payment system that is immersed in finance and economics around the world – the expanding use of bitcoin and cryptocurrencies. With actionable links to expert professional topical sources on these subjects, Alan’s article will bringContinue Reading

Citizens Against Public Waste Releases 2015 Congressional Pig Book

“[May 13, 2015], Citizens Against Government Waste (CAGW) released its 2015 Congressional Pig Book, the 23rd edition of the group’s exposé on pork-barrel spending.  CAGW President Tom Schatz was joined at the Phoenix Park Hotel in Washington, D.C. by Sens. John McCain (R-Ariz.), Pat Toomey (R-Pa.), Jeff Flake (R-Ariz.), and Joni Ernst (R-Iowa), and Rep.Continue Reading

Financial Innovation: The Origins of the Tri-Party Repo Market

Financial Innovation: The Origins of the Tri-Party Repo Market, Antoine Martin and Susan McLaughlin First in a two-part series. “The conventional wisdom about financial innovation is that it is typically undertaken as a way to increase profits. However, financial innovation can also occur as a response to the need to reduce risk. Tri-party repo isContinue Reading

New Reports from Office of Financial Research

The Influence of Systemic Importance Indicators on Banks’ Credit Default Swap Spreads by Jill Cetina and Bert Loudis. “This paper examines credit default swap (CDS) spreads in a sample of international banks for evidence of a benefit related to possible measures of systemic importance. The authors find a consistent, statistically significant negative relationship between five-yearContinue Reading

Pew – Checks and Balances 2015 update

“Checking accounts are a vital financial tool, utilized by 9 in 10 American households. This report provides the third annual evaluation of disclosure, overdraft, and dispute resolution policies and practices of 45 of the nation’s 50 largest retail banks, totaling 66 percent of all domestic deposit volume. Pew’s Model Summary Disclosure Box for Checking AccountsContinue Reading

Insights from Accenture Strategy 2015 U.S. College Graduate Employment Study

“The Accenture Strategy 2015 U.S. College Graduate Employment Study finds that new college graduates are well prepared as they enter the workforce. They’re responding to the growing need for STEM degrees. They’re thinking about potential jobs before choosing a major field of study. They’re pursuing internships and ongoing training opportunities. And colleges are doing theirContinue Reading

Mortgage Borrowing Among Most Creditworthy Abates

Liberty Street Economics – New York Fed – Andrew Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw: “Today’s release of the New York Fed’s Quarterly Report on Household Debt and Credit for the first quarter of 2015 reports a flattening in household debt balances. The slow growth in debt balances has left manyContinue Reading

Wealthiest ZIP Codes in America

Experian – “We all know who the icons of new wealth are – the Bill Gateses of America, if you will – but do you know where, in each state, the rich and powerful seclude themselves? We’ve gathered the data and organized it into what we think you’ll find to be a fascinating little graphic.Continue Reading