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Alexander Denev – Royal Bank of Scotland (RBS). Financial Networks as Directed Cyclic Graphs (February 8, 2014). Available at SSRN: http://ssrn.com/abstract=2392756 “Financial networks’ study and understanding has become extremely important since the global financial meltdown in 2007 – 2009 when the inter-connectedness of institutions has surfaced as one of the major culprits for the magnitude of …
“A popular strategy for estimating output gaps is to anchor them to structural economic relationships. The resulting output gaps, however, are often highly sensitive to numerous auxiliary assumptions inherent in the approach. This complicates their use in policymaking. We illustrate the point using the Phillips curve, arguably the most popular structural relationship in this context. …
“Central banks in Africa are changing as the continent becomes increasingly integrated with the global financial system. In this context, governors from major central banks met in Basel on 11-12 May 2013 to compare notes on their experiences in dealing with the challenges of increased financial integration. Four important challenges were analysed at this meeting. First, …
“The global long-term interest rate now matters much more for the monetary policy choices facing emerging market economies than a decade ago. The low or negative term premium in the yield curve in the advanced economies from mid-2010 has pushed international investors into EM local bond markets: by lowering local long rates, this has considerably …
“This study examined recent trends in the numbers of light-duty vehicles (cars, pickup trucks, SUVs, and vans) in the U.S. fleet. The analysis considered both the absolute numbers and the rates per person, per licensed driver, and per household. The period examined was from 1984 through 2011. The absolute number of vehicles reached a maximum …
International Labour Organization (ILO): “This report provides an international comparative legal information on national working conditions legislation and highlights global and regional trends in over 150 countries. The report covers national legislation in three fundamental working conditions: working hours, minimum wages, and maternity protection. The report aims to provide ILO constituents, policymakers, and researchers with comparative …
Dante Chinni: “This week, the issue of labor-force participation became a hot topic in Washington. On Tuesday, a report from the Congressional Budget Office forecast that the Affordable Care Act would drive a reduction in labor-force participation. And Friday’s release of the latest unemployment figures was accompanied by analyses emphasizing improvements in the unemployment picture have been strongly …
“Financial regulators and central banks in over 60 countries publish Financial Stability Reports about the health of their banking, financial and payments systems. These are a rich source of information on the structure of financial systems, recent trends in banking and finance, and the impact of the global economy on local markets. For scholars and …
Crowd-funding: An Infant Industry Growing Fast – Staff Working Paper of the IOSCO Research Department. Eleanor Kirby and Shane Worner, February 2014 “Crowd-funding is an umbrella term describing the use of small amounts of money, obtained from a large number of individuals or organisations, to fund a project, a business or personal loan, and other needs through an online web-based platform. …
CRS – Constitutional Analysis of Suspicionless Drug Testing Requirements for the Receipt of Governmental Benefits. David H. Carpenter, Legislative Attorney. January 29, 201 “For decades, federal policymakers and state administrators of governmental assistance programs, such as the Temporary Assistance for Needy Families (TANF) block grants (formerly Aid to Families with Dependent Children (AFDC)), the Supplemental Nutrition Assistance Program (SNAP, formerly …
The Interest Rate Elasticity of Mortgage Demand: Evidence From Bunching at the Conforming Loan Limit, Anthony A. DeFusco and Andrew Paciorek. 2014-11 “The relationship between the mortgage interest rate and a household’s demand for mortgage debt has important implications for a host of public policy questions. In this paper, we use detailed data on over 2.7 million …
Browning, Chris and Huston, Sandra J. and Finke, Michael S., Cognitive Ability and Post-Retirement Asset Decumulation (February 4, 2014). Available at SSRN: http://ssrn.com/abstract=2390862 “There is evidence that retirees are decumulating their assets very slowly or not at all. This behavior does not follow the normative framework of the life-cycle hypothesis (LCH). Decumulating in a manner …
