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“A moderate expansion is underway in most major advanced and emerging economies, but growth remains weak in the euro area, which runs the risk of prolonged stagnation if further steps are not taken to boost demand, according to the OECD’s latest Interim Economic Assessment. While the global recovery continues at a moderate rate, the outlook is uneven across …
Doug Elmendorf, CBO Director, at the Macroeconomic Advisers’ 24th Annual Washington Policy Seminar: “I was very pleased to speak last week at Macroeconomic Advisers’ Washington Policy Seminar and at Cornell University. (See my slides for the first talk and my slides for the second talk.) In both presentations I described CBO’s updated outlook for the federal budget under current law …
“New York City is facing a youth employment crisis, with unprecedented numbers of young people reaching adulthood without the skills or experiences to secure career-track jobs that pay a living wage. Since 2000, the percentage of 16 to 24 year olds across the five boroughs participating in the labor market has fallen from 45 percent …
Daily Koz, ‘Arliss Bunny‘: “It is impossible for me to begin to write anything about the events of 9-11 without first bowing my head and taking a moment of silence in remembrance of all those who died and the grief which still lives on in the soul of our nation. Since I will be writing …
Duan, Yaxin, Fund Flow Betas and the Cross-Section of Stock Returns (August 8, 2014). Available for download at SSRN: http://ssrn.com/abstract=2478033 “I document a robust new fact about the cross-section of stock returns: stocks whose returns co-vary more with flows into the entire mutual fund sector earn significantly higher average returns. I consider three potential explanations for …
CDT – “For anyone that has traveled or lived abroad, you’ve probably noticed that most of the rest of the world has chips in their credit cards. These chips are soon coming to the United States (some are already here, and many retailers will have chip card readers in place by October 2015), and they …
Fitch Ratings-New York-11 September 2014 [All opinions expressed are those of Fitch Ratings.]: Tuesday’s unveiling of Apple Pay is widely expected to further bolster growth of the evolving mobile payments landscape. Apple may be better positioned to succeed where other institutions have had limited success given the company’s financial resources and history of strong new …
“The Center for Popular Economics is a nonprofit collective of political economists based in Amherst, MA. Since our founding in 1979, thousands of people have participated in our workshops and Institutes. Our programs and publications demystify the economy and put useful economic tools in the hands of people fighting for social and economic justice. We …
Aiyar, Shekhar S. and Calomiris, Charles W. and Wieladek, Tomasz, How Does Credit Supply Respond to Monetary Policy and Bank Minimum Capital Requirements? (September 5, 2014). Bank of England Working Paper No. 508. Available for download at SSRN: http://ssrn.com/abstract=2494187 “We use data on UK banks’ minimum capital requirements to study the interaction of monetary policy and …
“The Kaiser Family Foundation has launched a new, interactive, online tool designed to provide the latest data on the U.S. government’s global health budget in an easy-to-access form. The U.S. Global Health Budget Tracker lets users follow the budget from the President’s budget request through the appropriations process in Congress, as well as see trends over time. Data …
“Despite the importance of pay when it comes to attracting and retaining employees, companies are falling short in the delivery of their base pay and annual incentive programs, according to research from global professional services company Towers Watson. Further, while the competition for talent is heating up, companies are not differentiating pay for their best …
“Cyberattacks targeting financial services firms are on the rise, but are these organizations doing enough to protect business and customer data? According to a Kaspersky Lab and B2B International survey of worldwide IT professionals, 93% of financial services organizations experienced various cyberthreats in the past 12 months. And while cyber-attacks targeting financial services firms are on the rise, nearly one …
