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News release: “Attorney General Eric Holder announced today that the Department of Justice and 19 states and the District of Columbia have entered into a $1.375 billion settlement agreement with the rating agency Standard & Poor’s Financial Services LLC, along with its parent corporation McGraw Hill Financial Inc., to resolve allegations that S&P had engaged …
Fiscal impetus and the Great Recession 01/28/2015 Analysis of the Current Employment Statistics program using customer outreach survey results 01/23/2015 Railroads: old industry still vital in today’s economy 01/22/2015 Worker’s expectations about losing and replacing their jobs: 35 years of change 01/16/2015 Better retirement planning 01/13/2015
“Total state government revenue rose by 16.3 percent, from $1.9 trillion in 2012 to $2.2 trillion in 2013, according to the latest findings on state government finances from the U.S. Census Bureau. Nearly three-quarters of that increase (73.9 percent) is attributable to the growth in insurance trust revenue, which grew by 89.7 percent, from $255.8 …
CBO – The Fiscal Multiplier and Economic Policy Analysis in the United States: Working Paper 2015-02. February 3, 2015. By Charles J. Whalen and Felix Reichling “The recession from 2007 to 2009 sparked wide interest in the economic effects of fiscal policy. That interest is reflected in an ongoing debate over the size of the …
Ji, Yan and Zhibo, Tan, Does a Flexible Labor Market Amplify the Impact of a Credit Crunch? (February 1, 2015). Available for download at SSRN: http://ssrn.com/abstract=2558864 “We demonstrate that a flexible labor market amplifies the impact of a credit crunch on the duration of a recession through the credit trap channel. We illustrate this channel’s …
“Issued by the Office of Management and Budget (OMB), the Budget of the United States Government is a collection of documents that contains the budget message of the President, information about the President’s budget proposals for a given fiscal year, and other budgetary publications that have been issued throughout the fiscal year. Other related and …
China’s GDP – 2015 Target and Outlook by Daniel H. Rosen and Beibei Bao | January 28, 2015 “China just released preliminary 2014 gross domestic product (GDP) results. At 7.4% they missed their annual target (7.5%) by a mere breath – not a huge deal practically, but significant symbolically. More important is the composition of …
MIT News release: “In this week’s issue of the journal Science, MIT researchers report that just four fairly vague pieces of information — the dates and locations of four purchases — are enough to identify 90 percent of the people in a data set recording three months of credit-card transactions by 1.1 million users. When …
Hryckiewicz, Aneta and Kozlowski, Lukasz, Banking Business Models and the Extent of Financial Crisis (January 28, 2015). Available for download at SSRN: http://ssrn.com/abstract=2557097 “This study applies the k-medoids methodology and identifies various banking business models according to asset combinations and funding sources. The study determines the effects of these models on bank risk-return profiles. We …
“The fast pace of change in the financial inclusion landscape is presenting supervisors with new issues and challenges. Developments in digital financial inclusion, in particular, are posing new challenges for how authorities define their regulatory scope and allocate supervisory resources. This Basel Committee report reveals the extent to which supervisory and regulatory practices are evolving …
Basel Committee on Banking Supervision Working Papers No 28 January 2015 “Regulatory and accounting rules are important determinants of bank behaviour; however, the interaction of the two is often not well understood and their intended outcomes do not always align. This Basel Committee working paper reviews academic literature on the interplay of accounting and regulatory …
By William J. Carrington (CBO) and Bruce C. Fallick (Federal Reserve Bank of Cleveland). CBO Working Paper: 2015-01. “After being displaced from their jobs, workers experience reduced earnings for many years and are at greater risks of other problems as well. The ills suffered by displaced workers motivated several recent expansions of government programs, including …
