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Category Archives: Financial System

Fund Flow Betas and the Cross-Section of Stock Returns

Duan, Yaxin, Fund Flow Betas and the Cross-Section of Stock Returns (August 8, 2014). Available for download at SSRN: http://ssrn.com/abstract=2478033 “I document a robust new fact about the cross-section of stock returns: stocks whose returns co-vary more with flows into the entire mutual fund sector earn significantly higher average returns. I consider three potential explanations forContinue Reading

Exploring the Future of Payment Security – CDT

CDT – “For anyone that has traveled or lived abroad, you’ve probably noticed that most of the rest of the world has chips in their credit cards. These chips are soon coming to the United States (some are already here, and many retailers will have chip card readers in place by October 2015), and theyContinue Reading

iPhone Takes a Bite of the Mobile Card Payment Apple – Fitch

Fitch Ratings-New York-11 September 2014 [All opinions expressed are those of Fitch Ratings.]: Tuesday’s unveiling of Apple Pay is widely expected to further bolster growth of the evolving mobile payments landscape. Apple may be better positioned to succeed where other institutions have had limited success given the company’s financial resources and history of strong newContinue Reading

Center for Popular Economics

“The Center for Popular Economics is a nonprofit collective of political economists based in Amherst, MA. Since our founding in 1979, thousands of people have participated in our workshops and Institutes. Our programs and publications demystify the economy and put useful economic tools in the hands of people fighting for social and economic justice. WeContinue Reading

How Does Credit Supply Respond to Monetary Policy and Bank Minimum Capital Requirements?

Aiyar, Shekhar S. and Calomiris, Charles W. and Wieladek, Tomasz, How Does Credit Supply Respond to Monetary Policy and Bank Minimum Capital Requirements? (September 5, 2014). Bank of England Working Paper No. 508. Available for download at SSRN: http://ssrn.com/abstract=2494187 “We use data on UK banks’ minimum capital requirements to study the interaction of monetary policy andContinue Reading

The U.S. Global Health Budget Tracker

“The Kaiser Family Foundation has launched a new, interactive, online tool designed to provide the latest data on the U.S. government’s global health budget in an easy-to-access form. The U.S. Global Health Budget Tracker lets users follow the budget from the President’s budget request through the appropriations process in Congress, as well as see trends over time. DataContinue Reading

Compensation Programs Falling Short at U.S. Employers – Survey

“Despite the importance of pay when it comes to attracting and retaining employees, companies are falling short in the delivery of their base pay and annual incentive programs, according to research from global professional services company Towers Watson. Further, while the competition for talent is heating up, companies are not differentiating pay for their bestContinue Reading

Cyberthreats in past year impact 93% of financial services organizations

“Cyberattacks targeting financial services firms are on the rise, but are these organizations doing enough to protect business and customer data? According to a Kaspersky Lab and B2B International survey of worldwide IT professionals, 93% of financial services organizations experienced various cyberthreats in the past 12 months. And while cyber-attacks targeting financial services firms are on the rise, nearly oneContinue Reading

Paper- Changes to Equity Markets Require Structural Reforms

“Regulatory policy has not kept pace with the significant changes that have occurred in our stock market within the last few decades, according to a CFA white paper on market structure. The white paper analyzes those market changes and proposes reforms that are designed to foster transparency, ensure high market quality, minimize conflicts of interest, guaranteeContinue Reading

Consumer Expenditures – 2013

“Average expenditures per consumer unit (1) in 2013 were $51,100, little changed from 2012 levels, the U.S. Bureau of Labor Statistics reported today. In 2013 spending decreased 0.7 percent during the same period that the Consumer Price Index (CPI-U) increased 1.5 percent. In 2012 spending had increased 3.5 percent, outpacing the increase in prices. In 2013 average income perContinue Reading

New GAO Reports – Land Reclamation, Clinical Trails, Contract Management, DHS, Export-Import Bank, Military Training

BUREAU OF RECLAMATION: Availability of Information on Repayment of Water Project Construction Costs Could Be Better Promoted, GAO-14-764: Published: Sep 8, 2014. Publicly Released: Sep 9, 2014. CLINICAL TRIALS: Little is Known about Participation by Supplemental Security Income Recipients, GAO-14-734R: Published: Sep 9, 2014. Publicly Released: Sep 9, 2014. CONTRACT MANAGEMENT: DOD’s Implementation of Justifications for 8(a) Sole-Source Contracts, GAO-14-721R: Published: Sep 9, 2014.Continue Reading

Assets and Liabilities of Commercial Banks in the United States

Board of Governors of the Federal Reserve, Assets and Liabilities of Commercial Banks in the United States – H.8, Release Date: September 5, 2014.