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Why do we need both liquidity regulations and a lender of last resort? A perspective from Federal Reserve lending during the 2007-09 US financial crisis, by Mark Carlson, Burcu Duygan-Bump and William Nelson. February 2015. “During the 2007-09 financial crisis, there were severe reductions in the liquidity of financial markets, runs on the shadow banking …
“How much salary do you need to earn in order to afford the principal, interest, taxes and insurance payments on a median-priced home in your metro area? To find out, HSH.com took the National Association of Realtors’ fourth-quarter data for median-home prices and HSH.com’s fourth-quarter average interest rate for 30-year, fixed-rate mortgages to determine how …
“The federal government ran a budget deficit of $386 billion for the first five months of fiscal year 2015, CBO estimates—$10 billion more than the shortfall recorded in the same span last year. CBO expects that, if lawmakers enact no further legislation affecting spending or revenues, the deficit in 2015 will end up at about …
“As it typically does after the President’s budget is released, CBO has updated the baseline budget projections it published earlier in the year. CBO now estimates that if the laws that currently govern federal taxes and spending generally remain in place, the federal budget deficit will total $486 billion in fiscal year 2015, about the …
Verstein, Andrew, Insider Trading in Commodities Markets (February 21, 2015). Available for download at SSRN: http://ssrn.com/abstract=2568140 or http://dx.doi.org/10.2139/ssrn.2568140 “In securities markets, insider trading is a crime. In commodities, insider trading is almost completely legal. This divergent treatment has long been accepted as appropriate, given perceived differences between the markets. For example, it has been thought …
Statement for the Record Worldwide Threat Assessment of the US Intelligence Community, Senate Armed Services Committee, James R. Clapper, Director of National Intelligence February 26, 2015. Cyber Strategic Assessment – “Cyber threats to US national and economic security are increasing in frequency, scale, sophistication, and severity of impact. The ranges of cyber threat actors, methods …
De Giorgi, Giacomo and Gambetti, Luca, Business Cycle Fluctuations and the Distribution of Consumption (March 1, 2015). FRB of New York Staff Report No. 716. Available for download at SSRN: http://ssrn.com/abstract=2574395 “This paper sheds new light on the interactions between business cycles and the consumption distribution. We use Consumer Expenditure Survey data and a factor …
Sant Anna, Andre A and ambrozio, antonio and De Sousa, Felipe Lage and Faleiros, Joao Paulo, Credit Scarcity in Developing Countries: An Empirical Investigation Using Brazilian Firm-Level Data (November 2014). Centro Studi Luca d’Agliano Development Studies Working Paper No. 372. Available at SSRN: http://ssrn.com/abstract=2567328 “The aim of this paper is investigating whether Brazilian industrial firms …
“Section 498(c) of the Higher Education Act of 1965, as amended, requires for-profit and non-profit institutions to annually submit audited financial statements to the Department to demonstrate they are maintaining the standards of financial responsibility necessary to participate in the Title IV programs [158 private college colleges failed]. One of many standards, which the Department …
NY Fed – Is Your School Spending Less Than Your Neighbor’s? Ravi Bhalla and Rajashri Chakrabarti , March 6, 2015. “This morning, the Federal Reserve Bank of New York released a set of interactive visuals that present school spending and its various components—such as instructional spending, instructional support, leadership support, and building services spending—across all …
Auto Safety: Status of NHTSA’s Redesign of Its Crashworthiness Data System, GAO-15-334: Published: Mar 6, 2015. Publicly Released: Mar 6, 2015. Aviation Security: TSA Should Take Additional Action to Obtain Stakeholder Input when Modifying the Prohibited Items List, GAO-15-261: Published: Feb 4, 2015. Publicly Released: Mar 6, 2015. H-2A and H-2B Visa Programs: Increased Protections …
Papanikolaou, Nikolaos I., The Road Towards the Establishment of the European Banking Union (February 28, 2015). Munich Personal RePEc Archive Paper No. 62463. Available for download at SSRN: http://ssrn.com/abstract=2573320 “The rising delinquencies in the U.S. subprime mortgage market in 2006 and the succeeding collapse in housing prices had a considerably negative impact on the functioning …
