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Rob Dent, Samuel Kapon, Fatih Karahan, Benjamin W. Pugsley, and Ayşegül Sahin – Second in a three-part series – New York Fed “In this second post in our series on measuring labor market slack, we analyze the labor market outcomes of long-term unemployed workers to assess their employability and labor force attachment. If long-term unemployed workers are …
Massman, Stephanie, The Orderly Liquidation Authority: Fanatical or Familiar? Idealistic or Unrealistic? (May 2014). Available for download at SSRN: http://ssrn.com/abstract=2525825 “The systemic financial crisis of 2008 spurred the failure of numerous financial and non-financial entities. Regulators addressed each of these failures on an ad hoc ex-post basis, granting multiple bailouts in various forms. The refusal …
“In this unique anniversary edition of the Quarterly, leading management thinkers tackle the management challenges of tomorrow. Leaders including author Tom Peters, former IBM CEO Lou Gerstner, eBay head of HR Beth Axelrod, and The Second Machine Age authors Erik Brynjolfsson and Andrew McAfee explore topics such as leadership, the future of the organization, machine learning, long-term capitalism, and …
The Risks to the Inflation Outlook, Vasco Cúrdia “Although inflation is currently low, some commentators fear that continued highly accommodative monetary policy may lead to a surge in inflation. However, projections that account for the different policy tools used by the Federal Reserve suggest that inflation will remain low in the near future. Moreover, the relative …
“The 2008 financial crisis threw into sharp relief the issue of “too-big-to-fail” (TBTF)—the challenge posed by financial institutions that were bailed out on concerns that their failure would cause damage to the rest of the financial system and the overall economy. Since then, policymakers and regulators have wrestled with how to address this problem. The …
Paper prepared for the Istituto Affari Internazionali (IAI), October 2014. European Banking Union: An Immediate Tool for Euro Crisis Management and a Long-Term Project for the Single Market by Giulia Rosa Maria Cavallo. “After the adoption of a single monetary policy which commits the European Central Bank to maintaining the euro’s purchasing power and price stability in …
BCBS Working Papers No 27, November 2014: “This Working Paper assesses the potential impact and implementation challenges of specific standards issued by the Basel Committee in the context of emerging market, developing and small economies. Additionally, it outlines practical steps that can be taken by authorities in these jurisdictions to implement global standards and enhance …
Josh Zumbrun – WSJ: “In 2002, savings rates for people of all education levels was hovering between 1% and 3%. Your education didn’t have much to say about how you saved money. In early 2003, college graduates even briefly had negative savings rates, while everyone else was dutifully setting some cash aside. What a difference a …
Jackson, Robert J. and Mitts, Joshua, How the SEC Helps Speedy Traders (November 6, 2014). Available for download at at SSRN: http://ssrn.com/abstract=2520105 or http://dx.doi.org/10.2139/ssrn.2520105 “We show that the Securities and Exchange Commission’s system for disseminating market-moving information in securities filings gives some investors an advantage over others. We describe two systems — the SEC’s file …
“The Basel standards include a number of national discretions that allow countries to adapt the international standards to reflect differences in the structure and development of financial systems. However, the use of national discretions can also impair comparability across jurisdictions and has been found to be a driver of variability in risk-weighted assets. The Committee …
News release: “The Office of the Comptroller of the Currency (OCC) today assessed $950 million in fines against three national banks for unsafe or unsound practices related to their foreign exchange (FX) trading businesses. The fines against Bank of America, N.A.; Citibank, N.A.; and JPMorgan Chase Bank, N.A., follow multiagency examinations and investigations of the banks’ …
“An earlier version of “Checks and Balances, Stars and Stripes,” a report on checking account practices of banks and credit unions on military installations, included several incorrect or incomplete statements and data points regarding transaction ordering. We take accuracy very seriously. The original report and accompanying news release, published on October 28, were revised and …
