Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002

Category Archives: Financial System

Global Economic Prospects: Commodity Markets Outlook, October 2014

Baffes, John. 2014. Global Economic Prospects: Commodity Markets Outlook, October 2014. World Bank Group, Washington, DC. © World Bank. “Commodity prices are expected to remain weak for the remainder of 2014 and, perhaps through much of 2015. Crude oil has seen one of the sharpest declines, down more than 20 percent to $83/barrel (bbl) onContinue Reading

The Role of Interbank Relationships and Liquidity Needs

Craig, Ben R. and Fecht, Falko and Tumer-Alkan, Gunseli, The Role of Interbank Relationships and Liquidity Needs (October 17, 2014). FRB of Cleveland Policy Discussion Paper No. 14-21. Available at SSRN: http://ssrn.com/abstract=2511334 “In this paper, we focus on the interconnectedness of banks and the price they pay for liquidity. We assess how the concentration of creditContinue Reading

Returning to the Nest: Debt and Parental Co-Residence Among Young Adults

Dettling, Lisa J. and Hsu, Joanne W., Returning to the Nest: Debt and Parental Co-Residence Among Young Adults (September 2, 2014). FEDS Working Paper No. 2014-80. Available for download at SSRN: http://ssrn.com/abstract=2511411 “This paper examines the relationship between a young adults’ debt burden and the decision to co-reside with a parent. Using a quarterly panel ofContinue Reading

Female self-employment in the United States: an update to 2012

BLS Monthly Labor Review – October 2014: “This article uses data from the Current Population Survey to examine changes in the demographic and socioeconomic characteristics of self-employed women over the 1993–2012 period. The analysis suggests that these female workers, who represented about one-third of all self-employed individuals in 2012, have weathered recessions relatively well andContinue Reading

Risk Taking, Liquidity, and Shadow Banking: Curbing Excess While Promoting Growth

A Report by the IMF Monetary and Capital Markets Department on Market Developments and Issues, October 2014:  “The October 2014 Global Financial Stability Report (GFSR) finds that six years after the start of the crisis, the global economic recovery continues to rely heavily on accommodative monetary policies in advanced economies. Monetary accommodation remains critical in supportingContinue Reading

World Economic Outlook – Legacies, Clouds, Uncertainties

World Economic Outlook, October 2014: “Despite setbacks, an uneven global recovery continues. Largely due to weaker-than-expected global activity in the first half of 2014, the growth forecast for the world economy has been revised downward to 3.3 percent for this year, 0.4 percentage point lower than in the April 2014 World Economic Outlook (WEO). TheContinue Reading

Regulating Capital Flows at Both Ends: Does it Work?

IMF – Atish R. Ghosh; Mahvash Saeed Qureshi; Naotaka Sugawara, October 17, 2014 “This paper examines whether cross-border capital flows can be regulated by imposing capital account restrictions (CARs) in both source and recipient countries, as was originally advocated by John Maynard Keynes and Harry Dexter White. To this end, we use data on bilateralContinue Reading

Recovery of financial market infrastructures – final report

“The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) have today published a report entitled Recovery of financial market infrastructures. The report provides guidance to financial market infrastructures (FMIs) such as central counterparties (CCPs) on how to develop plans to enable them to recover from threats to their viabilityContinue Reading

Perspectives on Inequality and Opportunity from the Survey of Consumer Finances

Chair Janet L. Yellen At the Conference on Economic Opportunity and Inequality, Federal Reserve Bank of Boston, Boston, Massachusetts. October 17, 2014 “The distribution of income and wealth in the United States has been widening more or less steadily for several decades, to a greater extent than in most advanced countries. This trend paused during the Great RecessionContinue Reading

Consultative Document: Recovery and Resolution Planning for Systemically Important Insurers

“The Financial Stability Board (FSB) is launching today a public consultation on guidance for the identification of the critical functions and critical shared services for systemically important insurers. The guidance should assist national authorities in implementing the recovery and resolution planning requirements set out in the FSB Key Attributes of Effective Resolution Regimes for FinancialContinue Reading

Corporate governance principles for banks – consultative document

“The Basel Committee’s revised principles on corporate governance at banks build on the Committee’s 2010 document Principles for enhancing corporate governance. Specifically, the revised principles: strengthen the guidance on risk governance, including the risk management roles played by business units, risk management teams, and internal audit and control functions (the three lines of defence) andContinue Reading

Struggling private student loan borrowers are still searching for help

CFPB: “In the years leading up to the financial crisis, many of the same subprime lending practices that led to troubles in the mortgage market also existed in the private student loan market. Like the homeowners who turned to their mortgage servicer to modify their loans but ran into customer service dead ends, lost paperworkContinue Reading