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Brian Chappatta – Bloomberg: “The 25 largest U.S. public pensions face about $2 trillion in unfunded liabilities, showing that investment returns can’t keep up with ballooning obligations, according to Moody’s Investors ServiceThe 25 biggest systems by assets averaged a 7.45 percent return from 2004 to 2013, close to the expected 7.65 percent rate, Moody’s said …
Kiatpongsan, Sorapop, and Michael I. Norton. How Much (More) Should CEOs Make? A Universal Desire for More Equal Pay. Perspectives on Psychological Science (forthcoming). “Do people from different countries and different backgrounds have similar preferences for how much more the rich should earn than the poor? Using survey data from 40 countries (N = 55,238), we compare respondents’ estimates of …
Jennifer Erickson | September 24, 2014, Center for American Progress “The American middle class is in trouble. The middle-class share of national income has fallen, middle-class wages are stagnant, and the middle class in the United States is no longer the world’s wealthiest. But income is only one side of the story. The cost of being in the middle …
CRS – The Effect of Firm Bankruptcy on Retiree Benefits, with Applications to the Automotive and Coal Industries. Carol Rapaport, Analyst in Health Care Financing, September 22, 2014. “Benefits for retired employees are of particular interest to policy makers because of the growing number of retirees and forecasts indicating that some future retirees may not have the necessary financial …
CFPB: “More and more homeowners are considering tapping their home equity as they approach retirement age. Getting a reverse mortgage is one way that some older homeowners can do that. Reverse mortgages are a special type of home equity loan sold to homeowners aged 62 years and older, which are repaid when the borrowers sell …
“College enrollment declined by close to half a million (463,000) between 2012 and 2013, marking the second year in a row that a drop of this magnitude has occurred. The cumulative two-year drop of 930,000 was larger than any college enrollment drop before the recent recession, according to U.S. Census Bureau statistics from the Current …
CBO – Presentation by Wendy Edelberg at the Peterson Institute for International Economics conference on Labor Market Slack: Assessing and Addressing in Real Time “In CBO’s view, the current slack in the labor market consists of multiple elements, including: The labor force participation rate is well below what CBO estimates would be achieved if the demand for …
“Loan guarantees made in the Federal Housing Administration’s (FHA’s) guarantee program for single-family mortgages from 1992 to 2013 are now projected to generate small costs over their lifetimes rather than the significant savings that were recorded in the federal budget at the time the guarantees were made—a deterioration that stems largely from the sharp downturn …
Census: “This summary shows quarterly tax revenue statistics on property, sales, license, income and other taxes. Statistics are shown for individual state governments as well as national estimates of total state and local taxes, including 12-month calculations. This quarterly survey has been conducted continuously since 1962.”
Brescia, Raymond H. and Martin, Nicholas M., The Price of Crisis: Eminent Domain, Local Governments, and the Value of Underwater Mortgages (September 19, 2014). Temple Political & Civil Rights Law Review, Vol. 24, 2014, Forthcoming. Available for download at SSRN: http://ssrn.com/abstract=2498651 “Governments at all levels in the U.S. have deployed a range of tactics to address …
“A new John J. Heldrich Center for Workforce Development at Rutgers University analysis of unemployed and long-term unemployed Americans reveals the profound struggles of Americans who remained jobless for months and years even as the economy gradually recovers. The survey reveals that more than 7 in 10 the long-term unemployed say they have less in savings …
McCarthy, David, Hedge Funds versus Mutual Funds (2): An Examination of Multialternative Mutual Funds (September 19, 2014). Available at SSRN: http://ssrn.com/abstract=2498695 “This paper examines those mutual funds classified by Morningstar as “Alternative.” It follows an earlier paper, “Hedge Funds vs. Mutual Funds: An Examination of Equity Long/Short Funds,” which found that equity long/short mutual funds did …
