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“The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on September 16-17, 2014. A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the meeting is also included as an addendum to these minutes. The minutes for …
“Fiscal policies can help support job creation, though designing the right policies will depend on conditions in individual countries. Job creation sits atop the policy agenda globally. High and persistent levels of unemployment call for a broad policy response, generally encompassing structural reform and other economic policies. While fiscal policy cannot substitute for comprehensive reforms, it …
New York Fed: Matthew C. Plosser – “This paper empirically investigates banks’ investment allocations over the recent business cycle. I identify unsolicited deposit shocks resulting from unconventional energy development and estimate bank allocations of these deposits. In the pre-recession period, banks lend 38 percent of incremental deposits; however, during the downturn, banks favor liquid assets and lending …
New York Fed Overview – Explore Maps: “Community Credit Profiles provide local information on credit access and use to help inform community development policymakers and practitioners. Indicators are updated twice a year at the national, state, and county levels to enable peer comparisons and program and activity benchmarks. Homeownership is a widely acknowledged marker of economic …
Those delaying retirement tend to fit a certain profile, By Steve Nyce. September 25, 2014. “34% of workers under 40 believe that retirement delays among older workers are restricting their career opportunities. Aside from retirement savings, health and stress have the strongest links to retirement timing. Offering employees greater retirement security can help employers cultivate a less …
A Framework for Assessing Potential Changes – GAO-15-131: Published: Oct 7, 2014. Publicly Released: Oct 7, 2014. “Developments in the single-family housing finance market from 2000-2013 led to changes in the federal government’s role in the housing finance system and ultimately to a significant increase in that role. For example: Before the 2007-2009 financial crisis, the market …
“Living standards continue to diverge within many economically advanced countries as poorer regions struggle to catch up with richer ones. Half of the 34 OECD countries have seen the income gap between their best-off and worst-off regions widen since the 2008 crisis, according to new OECD research. The OECD Regional Outlook 2014 shows that in 10 OECD countries, …
Lutz, Chandler, Unconventional Monetary Policy and Uncertainty (October 6, 2014). Available for download at SSRN: http://ssrn.com/abstract=2505943 “Using a structural factor-augmented vector autoregression (FAVAR) model and a large database of daily time series, we examine the impact of unconventional monetary policy on multiple proxies of economic and financial uncertainty. Our findings indicate that expansionary unconventional monetary policy …
Treasury Could Better Analyze Data to Improve Oversight of Servicers’ Practices, GAO-15-5: Published: Oct 6, 2014. Publicly Released: Oct 6, 2014. “Through June 2014, the U.S. Department of the Treasury (Treasury) had disbursed about one-third of the $38.5 billion in Troubled Asset Relief Program (TARP) funds allocated to housing programs. However, the number of new borrowers added …
Admati, Anat R., The Compelling Case for Stronger and More Effective Leverage Regulation in Banking (September 30, 2014). Journal of Legal Studies, Forthcoming. Available for download at SSRN: http://ssrn.com/abstract=2505199 “Excessive leverage (indebtedness) in banking endangers the public and distorts the economy. Yet current and proposed regulations only tweak previous regulations that failed to provide financial stability. …
Evgeniou, Theodoros and Fang, Lily H. and Hogarth, Robin M. and Karelaia, Natalia, Competitive Dynamics in Forecasting: The Interaction of Skill and Uncertainty (2013). Journal of Behavioral Decision Making 26 (4), 375-384, 2013. Available for download at SSRN: http://ssrn.com/abstract=2505219 “The outcomes of many activities depend upon both skill and luck. We analyze stock analysts’ forecasts of …
Federal Deposit Insurance Corporation, Board of Governors of the Federal Reserve System, and Consumer Financial Protection Bureau, Department of the Treasury – Enforcement Actions and Professional Liability Claims Against Institution-Affiliated Parties and Individuals Associated with Failed Institutions. Report Numbers, EVAL 14-002, 2014-SR-B-011, OIG-CA-14-012. July 2014 “As discussed in our report, the Regulators have established formal processes for investigating and imposing EAs on IAPs …
