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“Available from April 1995 forward, this monthly publication is prepared by the Council of Economic Advisers for the Joint Economic Committee. It provides economic information on gross domestic product, income, employment, production, business activity, prices, money, credit, security markets, Federal finance, and international statistics. Economic Indicators back to 1948 are made available through FRASER, the …
Brennan, Michael J. and Huh, Sahn-Wook and Subrahmanyam, Avanidhar, High-Frequency Measures of Information Risk (March 12, 2015). Available for download at SSRN: http://ssrn.com/abstract=2578168 “We estimate each day for each stock the conditional probabilities of informed trading on good and bad news in the spirit of Easley et al. (1996), and provide new evidence that these …
“Today, the Institute for Energy Research released a new study titled Assessing Emerging Policy Threats to the U.S. Power Grid as a continuation of the Story of Electricity initiative. The report finds that the greatest threats to our power grid are not physical or cyber attacks, but rather existing and upcoming Federal and State policies including subsidies, mandates, …
“With the U.S. Senate Special Commi ttee on Aging holding a hearing [March 12] on “Bridging the Gap: How Prepared are Americans for Retirement ?” the nonpartisan Employee Benefit Research Institute (EBRI) is re-posting recent findings that the aggregate national retirement savings deficit is about $4.13 trillion for all U.S. households where the head of …
“Since 1972, the General Social Survey (GSS) has been monitoring societal change and studying the growing complexity of American society. The GSS aims to gather data on contemporary American society in order to monitor and explain trends and constants in attitudes, behaviors, and attributes; to examine the structure and functioning of society in general as …
‘This report by CBO presents an analysis of the proposals in the President’s budget request for fiscal year 2016. The analysis is based on CBO’s economic projections and estimating models (rather than on the Administration’s), and it incorporates estimates of the effects of the President’s tax proposals that were prepared by the staff of the …
“The Congressional Budget Office has performed a brief analysis of federal contracts in an attempt to ascertain the size and cost of the federal government’s contracted workforce. Regrettably, CBO is unaware of any comprehensive information about the size of the federal government’s contracted workforce. However, using a database of federal contracts, CBO determined that federal …
“Today the Consumer Financial Protection Bureau (CFPB) released its latest supervision report highlighting legal violations uncovered by the Bureau’s examiners. The Bureau found deceptive student loan debt collection practices, unfair and deceptive overdraft practices, mortgage origination violations, fair lending violations, and mishandled disputes by consumer reporting agencies. The report also shows that CFPB supervisory resolutions …
“The Federal Reserve on Wednesday announced it has not objected to the capital plans of 28 bank holding companies participating in the Comprehensive Capital Analysis and Review (CCAR). One institution received a conditional non-objection based on qualitative grounds, and the Federal Reserve objected to two firms’ plans on qualitative grounds. In its fifth year, CCAR …
“The Dodd-Frank Wall Street Reform and Consumer Protection Act requires that we study arbitration agreements and provide a report to Congress of our findings. Companies provide almost all consumer financial products and services under written contracts. Arbitration agreements, in those contracts, can require that parties resolve any subsequent disputes through privately-appointed individuals (arbitrators), rather than …
Market Liquidity and Heterogeneity in the Investor Decision Cycle. Richard Bookstaber, Michael D. Foley, Brian F. Tivnan. March 10, 2015. Office of Financial Research Working Paper 15-03. “During liquidity shocks such as occur when margin calls force the liquidation of leveraged positions, there is a widening disparity between the reaction speed of the liquidity demanders …
Almazan, Andres and Martín‐Oliver, Alfredo and Saurina Salas, Jesus, Securitization and Banks’ Capital Structure (March 9, 2015). Review of Corporate Finance Studies, Forthcoming. Available for download at SSRN: http://ssrn.com/abstract=2575508 “Asset securitization offers banks the possibility of altering their capital structures and the financial intermediation process. This study shows that the introduction of securitization is associated …
