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Pfau, Wade D., Making Sense Out of Variable Spending Strategies for Retirees (March 16, 2015). Available for download at SSRN: http://ssrn.com/abstract=2579123 or http://dx.doi.org/10.2139/ssrn.2579123 “Variable spending strategies can be situated on a continuum between two extremes: spending a constant amount from the portfolio each year without regard for the remaining portfolio balance, and spending a fixed …
EPIC – “Congressmen Luke Messer (R-IN) and Jared Polis (D-CO) have introduced the “Student Digital Privacy and Parental Rights Act of 2015.” The student privacy bill would prohibit companies from selling student information, using student information for targeted advertising, or otherwise disclosing student information for non-educational purposes. The Student Digital Privacy Act would implement portions …
New York Fed: “High-frequency trading (“HFT”), or high-speed trading (“HST”), a type of algorithmic (or “algo”) trading, is now a well-known feature of the global market landscape. In many markets, a small number of firms may account for a large proportion of trading volume. Although it has been argued that HFT has lowered investors’ trading …
Folkinshteyn, Daniel and Lennon, Mark M and Reilly, Timothy, A Tale of Twin Tech: Bitcoin and the WWW (February 1, 2015). Journal of Strategic and International Studies, Forthcoming. Available for download at SSRN: http://ssrn.com/abstract=2601617 “Bitcoin is widely represented in the popular press, but far less so in serious academic inquiry. Researchers have analyzed Bitcoin from …
“The State & Local Finance Initiative’s State Economic Monitor tracks and analyzes economic and fiscal trends at the state level. Its interactive graphics highlight particular differences across all 50 states and the District of Columbia in employment, wages, housing, and taxes. Each section is updated when new data are released. The US Bureau of Labor …
“New research by the nonpartisan Employee Benefit Research Institute (EBRI) shows that a large percentage of individuals who died recently had little or no assets. Those who died relatively younger were even more likely to be in this situation. “Households which lost family members at relatively younger ages were also the households with lower asset …
The Potential Macroeconomic Impact of the Unconventional Oil and Gas Boom in the United States, Ben Hunt; Dirk Muir; Martin Sommer. May 1. 2015. WP/15/92. “This paper uses two of the IMF’s structural macroeconomic models to estimate the potential global impact of the boom in unconventional oil and natural gas in the United States. The …
Group of Twenty – Measures Which are Both Macroprudential and Capital Flow Management Measures: IMF Approach, April 30, 2015. “The global financial crisis underscored the costs of systemic instability at both the national and global levels and highlighted the importance of dedicated macroprudential and capital flow management policies. The IMF has been assisting its members …
Folkinshteyn, Daniel and Meric, Gulser and Meric, Ilhan, Investor Reaction in Stock Market Crashes and Post-Crash Market Reversals (December 15, 2014). International Journal of Business and Finance Research, Forthcoming. Available for download at SSRN: http://ssrn.com/abstract=2601622 ‘We study investor overreaction using data for five major stock market crashes during the 1987-2008 period. We find some evidence …
“The Federal Reserve Board on Thursday released its Semiannual Report on Banking Applications Activity, which provides aggregate information on proposals filed by banking organizations and reviewed by the Federal Reserve. The report includes information on the number of proposals that have been approved, denied, and withdrawn, as well as the average length of time taken …
Defense Contracting: DOD’s Use of Competitive Procedures, GAO-15-484R: Published: May 1, 2015. Publicly Released: May 1, 2015: “During the period from fiscal year 2010 through fiscal year 2014, DOD’s competition rate—the dollars obligated annually on competitive contracts and task orders as a percentage of dollars obligated on all contracts and orders—ranged from 60.8 percent to …
“The Bank for International Settlements (BIS) today released OTC derivatives statistics at end-December 2014. OTC derivatives markets contracted in the second half of 2014. The notional amount of outstanding contracts fell by 9% between end-June 2014 and end-December 2014, from $692 trillion to $630 trillion. Exchange rate movements exaggerated the contraction of positions denominated in …
