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Why Labor Force Participation (Usually) Increases When Unemployment Declines, by Andreas Hornstein, Federal Reserve Bank of Richmond, Economic Quarterly, Vol. 99, No. 1, First Quarter 2013, pp.1-23 “Unemployment and labor force participation (LFP) are usually negatively correlated over the business cycle, that is, once the unemployment rate starts to decline the LFP rate starts to increase after about …
Saving for Retirement with Job Loss Risk by Borys Grochulski and Yuzhe Zhang. Federal Reserve Bank of Richmond, Economic Quarterly, Vol. 99, No. 1, First Quarter 2013, Pages 45-81. “This article studies a tractable theoretical model of optimal consumption and saving decisions with endogenous retirement. Particular attention is paid to the impact of an increase in the risk of …
News release, December 21, 2013: “Yesterday, the Director of National Intelligence (“DNI”) announced the declassification of the existence of collection activities authorized by President George W. Bush shortly after the attacks of September 11, 2001. Starting on October 4, 2001, President Bush authorized the Secretary of Defense to employ the capabilities of the Department of Defense, …
DHS OIG – Adequacy of USSS Efforts to Identify, Mitigate, and Address Instances of Misconduct and Inappropriate Behavior (Redacted), December 20, 2013 “We found no evidence that USSS [United States Secret Service] employees frequently engage in behaviors contrary to conduct standards or that could cause a security concern. Although some employees engaged in certain misconduct during a foreign …
Letter to President Obama from the President’s Council of Advisors on Science and Technology (PCAST), December 13, 2013 [snipped] “After only two years of practical experience with MOOCs and related technologies, it is too early to tell whether substantial gains in the quality of instruction, access, achievement, and cost will be realized. But there is no question that …
Proposed rule marks the 6th issued under FDA Food Safety Modernization Act this year: “As required by the bipartisan FDA Food Safety Modernization Act (FSMA), the U.S. Food and Drug Administration proposed a rule [Focused Mitigation Strategies to Protect Food Against Intentional Adulteration] that would require the largest food businesses in the United States and abroad to take steps …
The Atlantic – A record year for stocks. A meh year for wages. A weird year for Wall Street, by Matthew O’Brien “Maybe it’s just me, but the last few years are getting tough to tell apart. Imagine a quiz question: Name that year where we threw obstacles in the recovery’s way, but kept growing slowly; where Europe avoided both …
“A new interactive infographic from the Kaiser Family Foundation presents a comprehensive look at how the uninsured are expected to fare in each state next year after the Affordable Care Act (ACA) takes full effect on Jan. 1. The ACA provides new coverage options for many of the nation’s 47 million nonelderly uninsured people across the income spectrum, …
“The Library of Congress unveiled The Survival of American Silent Feature Films: 1912–1929, by David Pierce, the first comprehensive survey of American feature films that survived the silent era of motion pictures. Previous documentation established that nearly 11,000 (10,919) silent feature films of American origin were released from 1912 through 1929. There was, however, no definitive, …
“Consumers are conducting more and more of their daily business online and through their mobile devices. They use the Internet and their smart phones and tablets to make purchases, research medical conditions, plan vacations, interact with friends and relatives, do their jobs, map travel routes, and otherwise pursue their interests. With these activities, consumers are …
