“Improving financial literacy requires more than simply providing consumers with more information. Being able to manage one’s financial life and make the financial decisions that will serve one’s life goals requires a combination of knowledge, skills, and action. For that reason, we’re pursuing a strategy that focuses on identifying how, where, when, and through whom… Continue Reading
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Monthly Archives: July 2013
The Economic Value of a Law Degree
The Economic Value of a Law Degree. Michael Simkovic,Seton Hall Law School; Harvard Law School, John M. Olin Center for Law and Economics; Frank McIntyre, Rutgers Business School Newark and New Brunswick. April 13, 2013. A powerpoint presentation version of this article is available. “Legal academics and journalists have marshaled statistics purporting to show that enrolling… Continue Reading
International Food Security Assessment, 2013-2023
International Food Security Assessment, 2013-2023 by Birgit Meade and Stacey Rosen– International Agriculture and Trade Outlook No. (GFA-24) 56 pp, June 2013 “Food insecurity in the 76 low- and middle-income countries examined in this report is expected to remain virtually unchanged between 2012 and 2013. By 2023, however, the number of food-insecure people is projected… Continue Reading
Capital is Back: Wealth-Income Ratios in Rich Countries 1700-2010
Capital is Back:Wealth-Income Ratios in Rich Countries 1700-2010, Thomas Piketty, Paris School of Economics; Gabriel Zucman, Paris School of Economics, July 4, 2013. “How do aggregate wealth-to-income ratios evolve in the long run and why? We address this question using 1970-2010 national balance sheets recently compiled in the top eight developed economies. For the U.S., U.K., Germany, and France, we are able… Continue Reading
New GAO Reports: Financial Company Bankruptcies, Foreign Affairs Management, Medicaid Demonstration Waivers, SEC Conflict Minerals Rule
Financial Company Bankruptcies – Need to Further Consider Proposals’ Impact on Systemic Risk, GAO-13-622, Jul 18, 2013 Foreign Affairs Management – State Department Has Strengthened Foreign Service Promotion Process Internal Controls, but Documentation Gaps Remain, GAO-13-654, Jul 18, 2013 Medicaid Demonstration Waivers, Approval Process Raises Cost Concerns and Lacks Transparency, GAO-13-384, Jun 25, 2013 SEC Conflict… Continue Reading
TRAC – Poor ICE FOIA Management Hinders Public Access to Immigration Records
Transactional Records Access Clearinghouse: “Poor management of FOIA requests at Immigration and Customs Enforcement (ICE) is evidenced by older requests being forgotten while the agency focuses on the newer ones, according to the latest ICE records compiled and analyzed by the Transactional Records Access Clearinghouse (TRAC) at Syracuse University. For example, as of the end… Continue Reading
Detroit Bankruptcy is Largest Chapter 9 Filing in U.S. History
Via FindLaw – “The city of Detroit’s recent bankruptcy filing made it the the largest U.S. city in history to seek Chapter 9 protection. The filing (attached below) came in the face of $18.5 billion in debt to creditors and unions. Detroit has seemingly tapped out its tax base, with no further ability to tax… Continue Reading
OFR Working Paper – Stress Tests to Promote Financial Stability
Stress Tests to Promote Financial Stability: Assessing Progress and Looking to the Future – Rick Bookstaber, Jill Cetina, Greg Feldberg, Mark Flood, Paul Glasserman, July 18, 2018 “Stress testing, which has its roots in risk management, should be adapted to support financial stability monitoring and to incorporate the interconnections and dynamics of the financial system. Since the… Continue Reading
The Digital Landscape in 2013 and its Impact on Communities
Personal. Portable. Participatory. Pervasive. The Digital Landscape in 2013 and its Impact on Communities by Lee Rainie July 18, 2013 at Community Foundations, brought together by the John S. and James L. Knight Foundation. “Pew Internet Director Lee Rainie discussed the new media ecosystem with leaders of community foundations from Western states and several other… Continue Reading
New York Fed – Shadow Banking
Shadow Banking – Zoltan Pozsar, Tobias Adrian, Adam Ashcraft, and Hayley Boesky, July 18, 2013 “The rapid growth of the market-based financial system since the mid-1980s has changed the nature of financial intermediation. Within the system, “shadow banks” have served a critical role, especially in the run-up to the recent financial crisis. Shadow banks are financial intermediaries that… Continue Reading
Chairman Ben S. Bernanke Semiannual Monetary Policy Report to the Congress
“Chairman Hensarling, Ranking Member Waters, and other members of the Committee, I am pleased to present the Federal Reserve’s semiannual Monetary Policy Report to the Congress. I will discuss current economic conditions and the outlook and then turn to monetary policy. I’ll finish with a short summary of our ongoing work on regulatory reform. The Economic Outlook – The… Continue Reading
The Rising Use of Nonbank Credit among U.S. Households: 2009-2011
The Rising Use of Nonbank Credit among U.S. Households: 2009-2011 by Gregory B. Mills and William Monson, Urban Institute, July 17, 2013. “Between January 2009 and June 2011, through the depths of the Great Recession and the initial sluggish recovery, the percentage of U.S. households that had ever used high-cost nonbank credit rose from 11.8 to 14.2 percent. This… Continue Reading
