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Washington Post, Matt O’Brien: “Europe hasn’t recovered, because it hasn’t let itself. Too much fiscal austerity and too little monetary stimulus have, instead, put it more than halfway to a lost decade that’s already worse than the 1930s. It’s a greater depression. And as the latest GDP numbers show, it’s not getting any less so. Indeed, the eurozone as a whole didn’t …
Jake Halpern, New York Times Magazine: Paper Boys: Inside the Dark, Labyrinthine, and Extremely Lucrative World of Consumer Debt Collection: ‘From 2006 to 2009, … the nation’s top nine debt buyers purchased almost 90 million consumer accounts with more than $140 billion in ‘face value.’ And they bought at a steep discount. On average, they paid …
Boyko, Xenia and Rogova, Elena and Roztocki, Narcyz and Weistroffer, Heinz Roland, Market Reaction to Information Technology Investment Announcements in Russian Firms (August 8, 2014). Proceedings of the 20th Americas Conference on Information Systems (AMCIS), 2014. Available at for download at SSRN: http://ssrn.com/abstract=2480622 “This study examines the stock market reaction to announcements of information technology (IT) …
New York Times – “Most U.S. counties have received at least some military equipment through a free Pentagon surplus program.” See also Tools of War in Counties Across the U.S. – “State and local police departments, like the one in Ferguson, Mo., get some of their military-style equipment through a free Defense Department program created in the early 1990s. Below …
Would tie 2010 as lowest midterm election reading by Jeffrey M. Jones “Twenty-two percent of Americans are satisfied and 76% are dissatisfied with the way things are going in the U.S. at this time. Americans’ satisfaction has been quite stable this year, ranging narrowly between 22% and 25%. The last time a majority of Americans were satisfied …
Jagolinzer, Alan D. and Larcker, David F. and Ormazabal, Gaizka and Taylor, Daniel J., The Information Content of Insider Trades around Government Intervention during the Financial Crisis (August 14, 2014). Rock Center for Corporate Governance at Stanford University Working Paper No. 189. Available for download at SSRN: http://ssrn.com/abstract=2480796 “This paper examines whether insiders at leading financial …
Drew Desilver: “For decades, labor economists have sought to quantify and predict the the impact of computer technology on both current and future employment, a subject that a new Pew Research Center report probed with a survey of nearly 1,900 experts. Computers had typically been thought of as best suited for jobs that involve routine, repetitive tasks that can easily …
CFPB: “You may have heard about virtual currencies like Bitcoin, XRP, and Dogecoin. But what are virtual currencies? What’s this “to the moon!” business on the internet about? And, as a consumer, what risks should you be aware of? While virtual currencies offer the potential for innovation, a lot of big issues have yet to be …
IMF, Bertand Gruss, August 14, 2014. Working Paper No. 14/154. “After skyrocketing over the past decade, commodity prices have remained stable or eased somewhat since mid-2011—and most projections suggest they are not likely to resume the upward trend observed in the last decade. This paper analyzes what this turn in the commodity price cycle may imply for …
“Today, the New York Fed released the Quarterly Report on Household Debt and Credit for the second quarter of 2014. Aggregate debt was relatively flat in the second quarter as housing-related debt shrank, held down by sluggish mortgage originations. But non-housing debt balances increased across the board, with especially strong gains in auto loans. Auto loan balances, …
New York Times: “The movement of people among the states can have a bigger influence than immigration on society. We charted how Americans have moved since 1900.” See also via Scout: New Upshot Tool Provides Historical Look at Migration Migration Study Shows Illinois Residents Bolt State For Warm Climates American Migration [Interactive Map] A State-by-State …
“In a speech in New York, Federal Reserve Bank of Boston President Eric Rosengren called for a comprehensive re-evaluation of the regulation of broker-dealers (intermediaries that effect transactions in securities), given the lessons of the financial crisis. “Broker-dealers played a dramatic role during the crisis,” said Rosengren. Given their dependence on unstable, short-term funding, “broker-dealers can …
