Accurate, Focused Research on Law, Technology and Knowledge Discovery With Daily Postings Since 2002
Harford, Jarrad and Wang, Cong and Zhang, Kuo, The Value of Cash Trapped Overseas: Evidence from U.S. Multinational Corporations (August 3, 2014). Available for download at SSRN: http://ssrn.com/abstract=2475562 “U.S. multinational corporations (MNCs) hold significant amounts of cash abroad. Using a hand-collected sample of large U.S. MNCs, we find that the percentage of cash trapped overseas has …
Neil Irwin: “The economy keeps underperforming. Yes, new G.D.P. data last week were better than expected. But the United States is still producing around $800 billion a year less in goods and services than it would if the economy were at full health, and as a result millions of people aren’t working who would be if …
Employee Benefit Research Institute, 2014 Issue Brief #402 – July 2014 “The importance of analyzing a consistent group of participants. The annual EBRI/ICI 401(k) database update report is based on large cross sections of 401(k) plan participants with a wide range of tenure and participation experience. Consequently, meaningful analysis of the potential for 401(k) participants to accumulate …
“The U.S.’s most dominant industries look a lot different than they did less than 25 years ago. From 1990 to 2013, the top industries by employment have changed from mostly manufacturing to mostly health-care and social-assistance jobs in the majority of states, according to a U.S. Bureau of Labor Statistics data analysis of its Quarterly Census of Employment …
Andolfatto, David and Nosal, Ed and Sultanum, Bruno, Preventing Bank Runs (July 31, 2014). FRB of St. Louis Working Paper No. 2014-021A. Available for download at SSRN: http://ssrn.com/abstract=2474839 “Diamond and Dybvig (1983) is commonly understood as providing a formal rationale for the existence of bank-run equilibria. It has never been clear, however, whether bank-run equilibria in …
Center for American Progress – Ben Schwartz and Sarah Ayres | July 31, 2014 “The median Millennial has saved exactly $0 for retirement—a startling statistic. While retirement may be in the distant future for the generation of American workers born since 1982, saving early is important because that money has the most time to realize the benefits of compounding interest. The problem …
“Today, the Consumer Financial Protection Bureau (CFPB) released a report that raises concerns about the impact of opting in to overdraft services for debit card and ATM transactions. The study found that the majority of debit card overdraft fees are incurred on transactions of $24 or less and that the majority of overdrafts are repaid …
CFPB: “Many people feel overwhelmed by their financial situations, and they may not know where to go for help. For many low-income Americans, frontline staff of nonprofit and public social services programs are in a unique position to provide that help. Their clients already know and trust them, and in many cases, they’re already sharing financial …
“The Chicago Business Barometer dropped 10.0 points to 52.6 in July, significantly down from May’s seven month high of 65.5, led by a collapse in Production and the ordering components, all of which have been strong since last fall. A monthly fall of this magnitude has not been seen since October 2008 and left the Barometer …
BLS News release: “Compensation costs for civilian workers increased 0.7 percent, seasonally adjusted, for the 3-month period ending June 2014, the U.S. Bureau of Labor Statistics reported today. Wages and salaries (which make up about 70 percent of compensation costs) increased 0.6 percent, and benefits (which make up the remaining 30 percent of compensation) increased …
News release: “The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) today issued a Notice of Proposed Rulemaking (NPRM) to amend existing Bank Secrecy Act (BSA) regulations to help prevent the use of anonymous companies to engage in or launder the proceeds of illegal activity in the U.S. financial sector. The proposed rule …
“As the global economy shifts from crisis to recovery mode, the changing growth patterns—with advanced economies generally recovering and emerging markets slowing on a broad basis—carry new spillover risks, says the IMF staff. The 2014 Spillover Report, which assesses the impact of policy actions in one country on others (spillovers) and the possible consequences for the original …
