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Improving Access to Refinancing Opportunities for Underwater Mortgages – Joshua Abel and Joseph Tracy “Since the onset of the housing crisis, a focus of policymakers has been to help underwater homeowners lower their monthly mortgage payments by refinancing, principally through the Home Affordable Refinance Program (HARP). This enables households to commit more money to consumption, …
Chronicle of Higher Education: Most States Increased Need-Based Grants in 2011: “Over all, state spending on student financial aid increased at the same time higher education was still being propped up with money from the federal stimulus. Money for need-based grants grew 6 percent from 2010 to 2011, while merit aid declined more than 9 percent.”
Postsecondary Institutions and Price of Attendance in 2012-13; Degrees and Other Awards Conferred: 2011-12; and 12-Month Enrollment: 2011-12: First Look (Provisional Data): “This First Look report is a revised version of the preliminary report released on May 21, 2013. It includes fully edited and imputed data from the Integrated Postsecondary Education Data System (IPEDS) fall …
“Publics around the world are concerned about the effect of global climate change and international financial instability, with majorities in many of the nations surveyed saying these are major threats to their countries. But Islamic extremism is also a serious concern, particularly in the United States, Europe and sub-Saharan Africa. In contrast, relatively few consider …
“The Global Risks Report 2013 analyses 50 global risks in terms of impact, likelihood and interconnections, based on a survey of over 1000 experts from industry, government and academia. This year’s findings show that the world is more at risk as persistent economic weakness saps our ability to tackle environmental challenges. The report highlights wealth gaps (severe income …
Relationship and Transaction Lending in a Crisis by Patrick Bolton, Xavier Freixas, Leonardo Gambacorta and Paolo Emilio Mistrulli – Working Papers No 417, July 2013 “We study how relationship lending and transaction lending vary over the business cycle. We develop a model in which relationship banks gather information on their borrowers, which allows them to provide loans for profitable firms during a crisis. Due …
Should monetary policy lean against the wind? – an analysis based on a DSGE model with banking by Leonardo Gambacorta and Federico M Signoretti – Working Papers No 418, July 2013 “The global financial crisis has reaffirmed the importance of financial factors for macroeconomic fluctuations. Recent work has shown how the conventional pre-crisis prescription that monetary policy should pay no attention to …
Transparency International – Global corruption barometer 2013 “More than one person in two thinks corruption has worsened in the last two years, according to the world’s largest public opinion survey on corruption from Transparency International, but survey participants also firmly believe they can make a difference and have the will to take action against graft. …
Rich Morin: “Democrats are about twice as likely as Republicans to have received food stamps at some point in their lives—a participation gap that echoes the deep partisan divide in the U.S. House of Representatives, which on Thursday produced a farm bill that did not include funding for the food stamp program. Overall, a Pew …
Bank of England – Financial Stability Report, June 2013 “For much of the period since the previous Report, prices of risky assets rose and balance sheets across the financial system strengthened. More recently, however, asset prices have fallen and financial markets have been volatile, reflecting shifting expectations of the path of monetary policy in some …
Universities’ Role as Knowledge Sources for Product Innovations by Kohei Nishikawa – Setsunan University; Daisuke Kanama – Hokkaido Information University, July 2013 Tokyo Center for Economic Research (TCER) Paper No. E-56 “This study verified innovation objectives for Japanese SMEs’ access to university knowledge the effects of university knowledge on innovation outcomes. The analysis found the …
Bubble Cycle by Masaya Sakuragawa – Tokyo Center for Economic Research (TCER); Keio University – Faculty of Economics. July 1, 2013. Tokyo Center for Economic Research (TCER) Paper No. E-55 “This paper analyzes the boom–bust cycle driven by rational bubbles in an overlapping generations economy that is subject to borrowing constraints. At the heart of …
