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“The commuter parking benefit results in $7.3 billion in forgone revenue annually while also increasing traffic congestion in our most congested cities, according to a new report, Subsidizing Traffic Congestion: The Multibillion-Dollar Tax Subsidy That’s Making Your Commute Worse, released by the civic organizations TransitCenter and Frontier Group. The report also found that the $1.3 …
Flood, Mark D. and Goodenough, Oliver R., Contract as Automaton: The Computational Representation of Financial Agreements (December 16, 2014). Available at SSRN: http://ssrn.com/abstract=2538224 or http://dx.doi.org/10.2139/ssrn.2538224 “We show that the fundamental legal structure of a well written financial contract follows a state-transition logic that can be formalized mathematically as a finite-state machine (a.k.a. finite-state automaton). The automaton …
“The Federal Open Market Committee (FOMC) authorizes the Federal Reserve Bank of New York to conduct a series of overnight reverse repurchase operations involving U.S. government securities for the purpose of further assessing the appropriate structure of such operations in supporting the implementation of monetary policy during normalization. The reverse repurchase operations authorized by this resolution shall be (i) conducted at an offering rate that …
Defense Base Act Insurance: State Department Should Evaluate Its Open Market System and Incorporate Leading Practices into Any Future Single Insurer Solicitation, GAO-15-194: Published: Jan 6, 2015. Publicly Released: Jan 6, 2015: “The Department of State (State) did not follow leading acquisition practices in transitioning from a single insurer Defense Base Act (DBA) program to an …
“The federal program that provides insurance against the risk of terrorism expired at the end of 2014. Without such a program, taxpayers will face less financial risk, but some businesses will lose or drop their terrorism coverage and economic activity might slow if a large terrorist attack occurs. Last year, the Congress considered legislation to …
Bank for International Settlements: “This is an annual publication that provides data on payments and payment, clearing and settlement systems in the CPMI countries. This version of the statistical update contains data for 2013 and earlier years. There are detailed tables for each individual country as well as a number of comparative tables. A preliminary version was …
“Data provide critical inputs in designing effective development policy recommendations, supporting their implementation, and evaluating results. In this new report “Big Data in Action for Development,” the World Bank Group collaborated with Second Muse, a global innovation agency, to explore big data’s transformative potential for socioeconomic development. The report develops a conceptual framework to work …
BLS Monthly Labor Review – “Using data from the National Longitudinal Survey of Youth 1997, this article examines the process of household formation for young adults born between 1980 and 1984. The analysis finds that, by age 27, about 90 percent of these individuals had left their parental households at least once and more than …
Chinco, Alexander and Ye, Mao, When Fast Trading Looks Like Priced Noise (January 2, 2015). Available for download at SSRN: http://ssrn.com/abstract=2544738 “Traders with different investment horizons value assets slightly differently. Motivated by this simple insight, we measure the amount of NYSE trading activity at horizons ranging from 1-minute to 1-month long. We find that the …
“If any one theme dominated economic policy debates and research over the past year, it was income inequality. The debate was kicked into high gear when French economist Thomas Piketty‘s book “Capital in the Twenty-First Century” became a runaway best seller. (It’s not clear how many people who bought the book actually read much of it.) When President …
Treasury News Release: “In response to the Government of the Democratic People’s Republic of Korea’s numerous provocations, particularly the recent cyber-attack targeting Sony Pictures Entertainment and the threats against movie theaters and moviegoers, President Obama today signed an Executive Order (E.O.) authorizing the imposition of sanctions against the Government of North Korea and the Workers’ …
“The Quarterly Survey of Public Pensions provides national summary data on the revenues, expenditures, and composition of assets of the largest defined benefit public employee pension systems for state and local governments. This report produces three tables: Tables 1 and 3 include data on cash and security holdings and Table 2 provides data on earnings on investments, …
