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Category Archives: Financial System

State Government Tax Revenue Rises for Fourth Year in a Row

“State government tax revenue increased 2.2 percent, from $847.1 billion in fiscal year 2013 to $865.8 billion in 2014, the fourth consecutive increase, according to the U.S. Census Bureau’s 2014 Annual Survey of State Government Tax Collections. General sales and gross receipts taxes drove most of the revenue growth, increasing from $258.9 billion to $271.3Continue Reading

Research Shows Financial Success Starts Early

Louisa Quittman is the Director of the Office of Financial Education at the U.S. Treasury Department 4/16/2015 – “As part of the Financial Literacy and Education Commission’s (Commission) efforts to share information and research that can help prepare young people for their financial lives, we recently worked with the Journal of Consumer Affairs to solicitContinue Reading

The Role of Policy in Achieving Shared, Sustainable Economic Prosperity

“GrowthPolicy.org pulls together recent research by Harvard faculty about economic growth. Our goal is to disseminate Harvard research to a broad audience in order to inform debate about the role of policy in achieving stability in our financial systems and shared, sustainable economic prosperity. GrowthPolicy.org is a project of: The Mossavar-Rahmani Center for Business &Continue Reading

Boomer Expectations for Retirement 2015

Fifth Annual Update on the Retirement Preparedness of the Boomer Generation April 2015 –  Insured Retirement Institute “Boomer Expectations for Retirement 2015 – Each year the Insured Retirement Institute (IRI) conducts a survey to measure the retirement preparedness of the Boomer generation. This report, the fifth in the series, summarizes the results of the 2015Continue Reading

NYT – American Middle Class Is No Longer the World’s Richest

By David Leonhardt and Kevin Quealy:  “The American middle class, long the most affluent in the world, has lost that distinction. While the wealthiest Americans are outpacing many of their global peers, a New York Times analysis shows that across the lower- and middle-income tiers, citizens of other advanced countries have received considerably larger raisesContinue Reading

Federal Reserve Board Beige Book – April 15, 2015

Summary of Commentary on Current Economic Conditions by Federal Reserve District: “Reports from the twelve Federal Reserve Districts indicate that the economy continued to expand across most regions from mid-February through the end of March. Activity in the Richmond, Chicago, Minneapolis, Dallas, and San Francisco Districts grew at a moderate pace, while New York, Philadelphia,Continue Reading

Student Loan Delinquency: A Big Problem Getting Worse?

Student Loan Delinquency: A Big Problem Getting Worse? by Juan M. Sánchez and Lijin Zhu in Economic Synopses, 2015, No. 7. St. Louis Fed. “A delinquency rate of 15 percent for all student loan borrowers implies a delinquency rate of 27.3 percent for borrowers with loans in repayment. Over the past decade, the percent ofContinue Reading

Uneven Global Recovery, Complex Underlying Currents

IMF – Uneven Growth: Short- and Long-Term Factors – April 2015 “Global growth remains moderate, with uneven prospects across the main countries and regions. It is projected to be 3.5 percent in 2015, in line with forecasts in the January 2015 World Economic Outlook (WEO) Update. Relative to last year, the outlook for advanced economiesContinue Reading

The Economy Goes to College: The Hidden Promise of Higher Education in the Post-Industrial Service Economy

College-Educated Workers Now Produce More Than Half of the Nation’s Annual Economic Value, According to New Georgetown University study: “The findings contradict the fear that good manufacturing jobs of the past are being replaced with low – paid, dead-end service jobs (Washington, D.C., April 13, 2015) – College-educated workers make up only 32 percent ofContinue Reading

Financial malware explained

IBM Software Thought Leadership White Paper. Financial malware explained – Explore the lifecycle of fraudulent transactions and how to take action against emerging threats. December 2014. “Financial malware—that is, malicious software designed to enable fraudulent transactions—is a growing concern for line-of- business executives, heads of retail and commercial banking, readers of global compliance operations, andContinue Reading

Watering a Lemon Tree: Heterogeneous Risk Taking and Monetary Policy Transmission

Federal Reserve Bank of New York Staff Papers – Watering a Lemon Tree: Heterogeneous Risk Taking and Monetary Policy Transmission. April 2015   Number 724. Dong Beom Choi, Thomas M. Eisenbach, and Tanju Yorulmazer. “We build a general equilibrium model with financial frictions that impede the effectiveness of monetary policy in stimulating output. Agents with heterogeneous productivity can increaseContinue Reading

Nonlinearity and Flight to Safety in the Risk-Return Trade-Off for Stocks and Bonds

Federal Reserve Bank of New York /staff Reports – Nonlinearity and Flight to Safety in the  Risk-Return Trade-Off for Stocks and Bonds. April 2015. Number 723. Tobias Adrian, Richard Crump, and Erik Vogt. “We document a highly significant, strongly nonlinear dependence of stock and bond returns on past equity-market volatility as measured by the VIX. We propose aContinue Reading