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News release: “Nonfarm business sector labor productivity increased at a 2.0 percent annual rate during the third quarter of 2014, the U.S. Bureau of Labor Statistics reported today, as output increased 4.4 percent and hours worked increased 2.3 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the third quarter of 2013 to …
“The Consumer Financial Protection Bureau (CFPB) released a report, A snapshot of debt collection complaints submitted by older consumers, highlighting debt collection as a top complaint for older Americans, many of whom say they struggle with debt in retirement. According to the report, some of the debt collection issues older Americans complain about include collectors: hounding about …
The landlocked European duchy has been called a “magical fairyland” for brand-name corporations seeking to drastically reduce tax bills, by Leslie Wayne, Kelly Carr, Marina Walker Guevara, Mar Cabra and Michael Hudson. November 5, 2014 KEY FINDINGS Pepsi, IKEA, AIG, Coach, Deutsche Bank, Abbott Laboratories and nearly 340 other companies have secured secret deals from Luxembourg that …
The Brookings-LSE Project on Internal Displacement: “According to best estimates, by early 2014, there were over 30 million people who had been internally displaced by conflict and human rights violations. This was the highest number ever recorded and over 25 times the number of internally displaced persons (IDPs) counted in 1982. Some of this increase …
Wilson, Meghan, City Auction: Municipal Response to Fiscal Distress in Detroit (November 4, 2014). Available for download at SSRN: http://ssrn.com/abstract=2519149 “Over the last decade, several metropolitan cities have been forced to think critically about their long-term financial solvency. This paper considers the tangible impacts of long-term financial planning in Detroit, Michigan. In July of 2013, …
Keynote speech by Mr Stefan Ingves, Chairman, Basel Committee on Banking Supervision and Governor, Sveriges Riksbank at the High-Level Meeting for the Americas, Lima, Peru, 3-5 November 2014. “In the four decades of the Committee’s existence, Latin America’s banks and banking regulators have witnessed their fair share of financial and macroeconomic stress. In meeting those …
The China factor – “Fifty years of innovations in horsepower, safety, and rider amenities have helped automobile sales grow by an average annual rate of 3 percent since 1964. This is roughly double the rate of global population growth over the same period and makes for a planet with over one billion vehicles on its roads. For …
NY Fed – Population Aging, Migration Spillovers, and the Decline in Interstate Migration. November 2014. Number 699. Fatih Karahan and Serena Rhee “Interstate migration in the United States has declined by 50 percent since the mid-1980s. This paper studies the role of the aging population in this long-run decline. We argue that demographic changes trigger a general equilibrium effect in …
The Effect of Work Relationships on Organizational Culture and Commitment, Workforce Mood Tracker Fall 2014. “Globoforce is the leading provider of social recognition solutions, helping companies build strong cultures of engaged employees through the power of thanks. Named one of the Best Workplaces in the US and Ireland by the Great Place To Work Institute, …
CDS and Equity Market Reactions to Stock Issuances in the U.S. Financial Industry: Evidence from the 2002-13 Period. November 2014. Number 697. Marcia Millon Cornett, Hamid Mehran, Kevin Pan, Minh Phan, and Chenyang Wei. “We study market reactions to seasoned equity issuances that were announced by financial companies between 2002 and 2013. To assess the risk and valuation implications of these seasoned …
Supervisory Stress Tests – November 2014. Number 696. Beverly Hirtle and Andreas Lehnert. “This article describes the background, design choices and particular details of stress tests used as part of an overall supervisory regime; that is, their formal integration into the process of the ongoing prudential supervision of banks and other large financial institutions. We then describe how the U.S. …
“In September, the national unemployment rate fell to 5.9 percent, the lowest it’s been since July 2008. Yet, even as the recovery moves ahead slowly, conditions vary greatly across states and across racial and ethnic groups. In September, state unemployment rates ranged from a high of 7.9 percent in Georgia to a low of 2.8 …
