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“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 …
IMF Working Paper by Andrea Pescatori; Damiano Sandri; John Simon – February 13, 2014: “Using a novel empirical approach and an extensive dataset developed by the Fiscal Affairs Department of the IMF, we find no evidence of any particular debt threshold above which medium-term growth prospects are dramatically compromised. Furthermore, we find the debt trajectory can …
Christopher J. Neely, How Persistent are Monetary Policy Effects at the Zero Lower Bound?, Working Papers 2014-4, Federal Reserve Bank of St. Louis, 09 Feb 2014. “Event studies show that Fed unconventional announcements of forward guidance and large scale asset purchases had large and desired effects on asset prices but do not tell us how long …
Pat Higgins, senior economist in the Atlanta Fed’s research department – “This analysis is a companion piece to my Atlanta Fed colleague John Robertson’s recent macroblog post. John’s blog highlighted some findings of a recent New York Fed study by Samuel Kapon and Joseph Tracy on the employment-to-population (E/P) ratio. Their work has received considerable attention in the media and …
“CEO pay is determined by a company’s board of directors. Those directors are compensated for the time they spend shaping the company’s strategy. Here’s what the Fortune 100 executives paid each other from 2008 to 2012. The Pay Pals project relies on financial research conducted by the Center for Economic Policy and Research.”
