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Sovereign risk: a world without risk-free assets? BIS Papers No 72, July 2013 “This volume presents and summarises the proceedings of a one-and-a-half day seminar on sovereign risk hosted by the BIS in January 2013. The event brought together senior central bankers, sovereign ratings analysts, fund managers and other market participants, sovereign legal specialists, risk …
Susannah Fox: “Fifty-one percent of U.S. adults, or 61% of internet users, bank online. Thirty-two percent of U.S. adults, or 35% of cell phone owners, bank using their mobile phones. Both types of digital banking are on the rise. In 2010, 46% of U.S. adults, or 58% of internet users, said they bank online. In …
ECB Monetary Policy in the Recession: A New Keynesian (Old Monetarist) Critique by Robert L. Hetzel, Federal Reserve Bank of Richmond “Use of the New Keynesian model to identify shocks points to contractionary monetary policy as the cause of the Great Recession in the Eurozone.”
Federal Reserve Bank of Richmond – Will a Surge in Labor Force Participation Impede Unemployment Rate Improvement? by Andreas Hornstein, Karl Rhodes “The labor force participation rate has been falling since 2000, a trend that accelerated somewhat during the recession of 2007-09. Some economists and journalists have questioned whether recent improvements in the labor market will cause non-participants …
Gallup Poll: “Gallup’s U.S. Job Creation Index was steady in July, at +21, similar to +22 in June. While non-government workers, as well as state and local government workers, reported little change in net hiring at their workplaces, federal workers reported a significant decline. Net federal hiring was lower in July, at -17, than it …
Firearm Homicides and Suicides in Major Metropolitan Areas — United States, 2006–2007 and 2009–2010 – Morbidity and Mortality Weekly Report (MMRW). August 2, 2013 / 62(30);597-602 “Firearm homicides and suicides are a continuing public health concern in the United States. During 2009–2010, a total of 22,571 firearm homicides and 38,126 firearm suicides occurred among U.S. …
Bassetto, Marco, Cagetti, Marco and De Nardi, Mariacristina, Credit Crunches and Credit Allocation in a Model of Entrepreneurship (July 31, 2013). FRB of Chicago Working Paper No. 2013-06. “We study the effects of credit shocks in a model with heterogeneous entrepreneurs, financing constraints, and a realistic firm size distribution. As entrepreneurial firms can grow only …
CRS – The MF Global Bankruptcy, Missing Customer Funds, and Proposals for Reform, Rena S. Miller – Analyst in Financial Economics, August 1, 2013 “On October 31, 2011, MF Global, a large brokerage firm registered with the Securities and Exchange Commission (SEC) as a broker-dealer and with the Commodity Futures Trading Commission (CFTC) as a …
News release: “Attorney General Eric Holder and U.S. Attorney for the Western District of North Carolina Anne M. Tompkins announced today that the United States has filed a civil lawsuit against Bank of America Corporation and certain of its affiliates, including Merrill Lynch, Pierce, Fenner & Smith f/k/a/ Banc of America Securities, LLC, Bank of …
U.S. Securities and Exchange Commission Annual Staff Report Relating to the Use of Data Collected from Private Fund Systemic Risk Reports, July 24, 2013 “The Dodd-Frank Act provided the Commission with new authority, and directed it to use this authority to require registered investment advisers to maintain records and file reports regarding the hedge funds, …
Game changers: Five opportunities for US growth and renewal – by Susan Lund, James Manyika, Scott Nyquist, Lenny Mendonca, and Sreenivas Ramaswa. July 2013 “Four years after the official end of the Great Recession, US economic growth remains lackluster. But there is more at work here than simply the business cycle: strains in the labor market …
News release: “At its meeting on 1 August, the Bank of England’s Monetary Policy Committee (MPC) voted to provide some explicit guidance regarding the future conduct of monetary policy. The Committee intends at a minimum to maintain the current highly stimulative stance of monetary policy until economic slack has been substantially reduced, provided this does …
