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The Debt Limit Since 2011. D. Andrew Austin, Analyst in Economic Policy. February 12, 2014. “The Constitution grants Congress the power to borrow money on the credit of the United States—one part of its power of the purse—and thus mandates that Congress exercise control over federal debt. Control of debt policy has at times provided Congress with a means …
“In 2012, the Department of Defense (DoD) spent $52 billion on health care for service members, retirees, and their families. The department offers health care to nearly 10 million people through its TRICARE program, an integrated system of military health care providers and regional networks of civilian providers. Established in 1993, TRICARE now consists of …
“The BIS effective exchange rate (EER) indices now cover 61 economies (including individual euro area countries and, separately, the euro area as an entity). The most recent weights are based on trade in 2008-10 and the indices’ base year is 2010. Two basket compositions are available: Broad indices comprising 61 economies, with data from 1994 (CSV, 172 …
“The Federal Reserve Bank of New York’s Household Debt and Credit Report provides a quarterly snapshot of household trends in borrowing and indebtedness, including data about mortgages, student loans, credit cards, auto loans and delinquencies. The report aims to help community groups, small businesses, state and local governments and the public to better understand, monitor …
“Extreme volatility during the global financial crisis complicated economic forecasting, leading to large errors that underline the need for better modelling methods and new approaches for making and presenting projections, according to an OECD report. OECD forecasts during and after the financial crisis: a post-mortem says that the Organisation’s economic projections under-predicted the depth of the collapse …
“Increasing the minimum wage would have two principal effects on low-wage workers. Most of them would receive higher pay that would increase their family’s income, and some of those families would see their income rise above the federal poverty threshold. But some jobs for low-wage workers would probably be eliminated, the income of most workers …
FEDERAL STUDENT LOANS: Impact of Loan Limit Increases on College Prices Is Difficult to Discern, GAO-14-7: Published: Feb 18, 2014. Publicly Released: Feb 18, 2014. “For more than a decade, college prices have been rising consistently and have continued to rise at a gradual pace after the Stafford loan limit increases were enacted in 2008 and 2009. …
De, Sankar and Tantri, Prasanna L., Borrowing Culture and Debt Relief: Evidence from a Policy Experiment (February 15, 2014). Available at SSRN: http://ssrn.com/abstract=2396368 “Using a model as well as extensive empirical tests, the present paper investigates the effects of a large-scale debt waiver program on the post-waiver debt repayment behavior of borrowers in a typical …
Unemployment Insurance: Programs and Benefits. Julie M. Whittaker, Specialist in Income Security, Katelin P. Isaacs, Analyst in Income Security. February 12, 2014 “Several types of benefits may be available to unemployed workers to provide them with income support during a spell of unemployment. The federal-state Unemployment Compensation (UC) program may provide income support through the payment of UC benefits for …
Cummings, James R and Durrani, Kassim Jahn, Effect of the Basel Accord Capital Requirements on the Loan-Loss Provisioning Practices of Australian Banks (January 2014). Available at SSRN: http://ssrn.com/abstract=2396384 “This study examines the role of regulatory loan-loss provisioning in supporting current developments in Australian regulatory capital requirements. Findings suggest banks current regulatory capital position is a …
“The Financial Crimes Enforcement Network (FinCEN), in coordination with the U.S. Department of Justice (DOJ), today issued guidance that clarifies customer due diligence expectations and reporting requirements for financial institutions seeking to provide services to marijuana businesses. The guidance provides that financial institutions can provide services to marijuana-related businesses in a manner consistent with their obligations to …
Federal Reserve Bank of San Francisco – When Will the Fed End Its Zero Rate Policy? by Jens Christensen “U.S. Treasury yields and other interest rates increased in the months leading up to the Federal Reserve’s December 2013 decision to cut back its large-scale bond purchases. This increase in rates probably at least partly reflected changes in …
