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Brogaard, Jonathan and Riordan, Ryan and Shkilko, Andriy and Sokolov, Konstantin, High-Frequency Trading and Extreme Price Movements (November 26, 2014). Available for download at SSRN: http://ssrn.com/abstract=2531122 “This paper examines the relation between high-frequency trading (HFT) and extreme price movements (jumps). Some market observers allege that HFT causes and exacerbates price jumps thus contributing to market …
International Journal of Central Banking (IJCB), December 2014 issue – Cover and contents Monetary and Labor Interactions in a Monetary Union by Vincenzo Cuciniello Financial Stability and Central Bank Governance by Michael Koetter, Kasper Roszbach and Giancarlo Spagnolo The Aggregate Demand Effects of Short- and Long-Term Interest Rates by Michael T. Kiley Introducing Funding Liquidity Risk in a Macro …
November 2014 EBRI Issue Brief #406 “The percentage of all families with an employment-based retirement plan from a current employer decreased from 38.8 percent in 1992 to 36.2 percent in 2013, according to the most recent data from the 2013 Survey of Consumer Finances (SCF), the Federal Reserve Board’s triennial survey of wealth. While retirement …
Houlihan, Patrick, Diffusion of Price Information Through Message Volume and Sentiment (October 8, 2014). Available for download at SSRN: http://ssrn.com/abstract=2527968 “Several market data parameters have been validated to be correlated with asset price changes. In addition, many have been used as independent variables in a variety of models to help explain the direction of future …
Londono, Juan M. and Tian, Mary H., Bank Interventions and Options-Based Systemic Risk: Evidence from the Global and Euro-Area Crisis (September 19, 2014). FRB International Finance Discussion Paper No. 1117. Available for download at SSRN: http://ssrn.com/abstract=2531686 “Using a novel dataset on central bank interventions to financial institutions, we examine the impact of capital injection announcements …
eSecurity Planet – “In a recent SEC filing, Home Depot stated that a recent data breach that exposed 56 million credit cards and 53 million email addresses cost the company $43 million in the third quarter of 2014 alone. Specifically, Home Depot says it “recorded $43 million of pretax expenses related to the data breach, partially offset …
“Four BLS measures of labor underutilization are used to analyze changes in the supply of labor from just before the 2007–2009 recession to June 2014; the results indicate that (1) the increase in the number of people marginally attached to the labor force over the period studied may have been due to either inadequate demand …
Broz, J. Lawrence, The Politics of Rescuing the World’s Financial System: The Federal Reserve as a Global Lender of Last Resort (November 20, 2014). Available for download at SSRN: http://ssrn.com/abstract=2531108 “During the financial crisis of 2007-10, the Federal Reserve (Fed) served as a global lender of last resort by establishing currency swap agreements with 14 …
Passamani, Giuliana and Tamborini, Roberto and Tomaselli, Matteo, Sustainability vs. Credibility of Fiscal Consolidation. A Principal Components Test for the Euro Zone (November 25, 2014). University of Trento DEM Discussion Papers, Department of Economics and Management. Available for download at SSRN: http://ssrn.com/abstract=2530732 “Why did some countries in the Euro Zone between 2010 and 2012 – until …
Bloomberg Consumer Comfort Index: “The world’s largest economy grew faster in the third quarter than first estimated, capping its strongest six months in a decade, as consumers went shopping and companies boosted spending. Gross domestic product rose at a 3.9 percent annualized rate, exceeding all forecasts of economists surveyed by Bloomberg and up from an initial …
Carlo Bastasin – “The European Central Bank (ECB) has recently acknowledged the dangers of a prolonged period of overly low inflation in the euro area. In fact, in recent months inflation developments have continued to surprise on the downside. The level of consumer prices has declined from a high of more than 3 percent at the …
Andrew Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw: “The New York Fed released the Quarterly Report on Household Debt and Credit for the third quarter of 2014 today. Balances continued to rise slightly, with an overall increase of $78 billion. The aggregate household debt balance now stands at $11.71 trillion, up 0.7 …
