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Background – “On 22-23 May 2014 the BIS held a conference on “Challenges from changing international financial conditions”, the fifth under the auspices of the BIS Consultative Council for the Americas (CCA). It brought together researchers from the central banking community in the region and distinguished academics and was hosted by the Bank of the Republic (Colombia) in Bogotá. A …
TROUBLED ASSET RELIEF PROGRAM: Government’s Exposure to Ally Financial Lessens as Treasury’s Ownership Share Declines, GAO-14-698: Published: Aug 5, 2014. Publicly Released: Aug 5, 2014. “The Department of the Treasury (Treasury) reduced its ownership stake in Ally Financial Inc. (Ally Financial) from 74 percent in October 2013, to 16 percent as of June 30, 2014. As shown in …
“A new report by the International Labour Organization (ILO), Marking progress against child labour, says that the global number of child labourers has declined by one third since 2000, from 246 million to 168 million. But even the latest improved rate of decline is not enough to achieve the goal of eliminating the worst forms of …
Harford, Jarrad and Wang, Cong and Zhang, Kuo, The Value of Cash Trapped Overseas: Evidence from U.S. Multinational Corporations (August 3, 2014). Available for download at SSRN: http://ssrn.com/abstract=2475562 “U.S. multinational corporations (MNCs) hold significant amounts of cash abroad. Using a hand-collected sample of large U.S. MNCs, we find that the percentage of cash trapped overseas has …
Neil Irwin: “The economy keeps underperforming. Yes, new G.D.P. data last week were better than expected. But the United States is still producing around $800 billion a year less in goods and services than it would if the economy were at full health, and as a result millions of people aren’t working who would be if …
Employee Benefit Research Institute, 2014 Issue Brief #402 – July 2014 “The importance of analyzing a consistent group of participants. The annual EBRI/ICI 401(k) database update report is based on large cross sections of 401(k) plan participants with a wide range of tenure and participation experience. Consequently, meaningful analysis of the potential for 401(k) participants to accumulate …
“The U.S.’s most dominant industries look a lot different than they did less than 25 years ago. From 1990 to 2013, the top industries by employment have changed from mostly manufacturing to mostly health-care and social-assistance jobs in the majority of states, according to a U.S. Bureau of Labor Statistics data analysis of its Quarterly Census of Employment …
“A policy bubble is a policy overreaction that is reinforced by positive feedback over a relatively long period of time. Policy bubbles impose social costs without producing offsetting benefits. Moshe Maor explores this phenomenon and explains how it may mature as a result of over-optimism and overconfidence among policymakers and the general public, or as a result of human herding and emotional contagion. Policy scholars and practitioners claim that the Eurozone has been, and still …
Andolfatto, David and Nosal, Ed and Sultanum, Bruno, Preventing Bank Runs (July 31, 2014). FRB of St. Louis Working Paper No. 2014-021A. Available for download at SSRN: http://ssrn.com/abstract=2474839 “Diamond and Dybvig (1983) is commonly understood as providing a formal rationale for the existence of bank-run equilibria. It has never been clear, however, whether bank-run equilibria in …
Center for American Progress – Ben Schwartz and Sarah Ayres | July 31, 2014 “The median Millennial has saved exactly $0 for retirement—a startling statistic. While retirement may be in the distant future for the generation of American workers born since 1982, saving early is important because that money has the most time to realize the benefits of compounding interest. The problem …
SECURITY CLEARANCES: Tax Debts Owed by DOD Employees and Contractors, GAO-14-686R: Published: Jul 28, 2014. Publicly Released: Jul 28, 2014. “In summary, GAO found that about 83,000 Department of Defense (DOD) employees and contractors who held or were determined eligible for secret, top secret, or sensitive compartmented information (SCI) clearances, or related interim clearances, had unpaid federal tax …
“Today, the Consumer Financial Protection Bureau (CFPB) released a report that raises concerns about the impact of opting in to overdraft services for debit card and ATM transactions. The study found that the majority of debit card overdraft fees are incurred on transactions of $24 or less and that the majority of overdrafts are repaid …
