Federal Reserve Bank of New York Staff Papers – Watering a Lemon Tree: Heterogeneous Risk Taking and Monetary Policy Transmission. April 2015 Number 724. Dong Beom Choi, Thomas M. Eisenbach, and Tanju Yorulmazer. “We build a general equilibrium model with financial frictions that impede the effectiveness of monetary policy in stimulating output. Agents with heterogeneous productivity can increase… Continue Reading
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Monthly Archives: April 2015
Nonlinearity and Flight to Safety in the Risk-Return Trade-Off for Stocks and Bonds
Federal Reserve Bank of New York /staff Reports – Nonlinearity and Flight to Safety in the Risk-Return Trade-Off for Stocks and Bonds. April 2015. Number 723. Tobias Adrian, Richard Crump, and Erik Vogt. “We document a highly significant, strongly nonlinear dependence of stock and bond returns on past equity-market volatility as measured by the VIX. We propose a… Continue Reading
Earned Income Tax Credit in the United States
Elaine Maag – Urban Institute, April 09, 2015 “The Earned Income Tax Credit (EITC) provides substantial assistance to low-income working families with children. The credit encourages work for many, though may reduce work or wages for some. Counted in the poverty measure, the EITC would have been credited with lifting 6.5 million people out of… Continue Reading
Reflecting a racial shift, 78 counties turned majority-minority since 2000
Pew FactTank – In the United States as a whole, the white share of the population is declining as Hispanic, Asian and black populations grow. But the shift to a more diverse nation is happening more quickly in some places than in others. From 2000 to 2013, 78 counties in 19 states, from California to… Continue Reading
The international monetary and financial system: Its Achilles heel and what to do about it
Presentation by Mr Claudio Borio, Head of Monetary and Economic Department of the BIS, at the INET conference “New Economic Thinking: Liberté, Égalité, Fragilité”, Paris, 9 April 2015. “This essay argues that the Achilles heel of the international monetary and financial system is that it amplifies the “excess financial elasticity” of domestic policy regimes, ie… Continue Reading
DARPA Open Catalog
“Welcome to the DARPA Open Catalog, which contains a curated list of DARPA-sponsored software and peer-reviewed publications. DARPA sponsors fundamental and applied research in a variety of areas that may lead to experimental results and reusable technology designed to benefit multiple government domains. The DARPA Open Catalog organizes publicly releasable material from DARPA programs. DARPA… Continue Reading
Report – Metadata collection of Americans’ international calls began in 1992
Brad Health – USAToday: “The U.S. government started keeping secret records of Americans’ international telephone calls nearly a decade before the Sept. 11 terrorist attacks, harvesting billions of calls in a program that provided a blueprint for the far broader National Security Agency surveillance that followed. For more than two decades, the Justice Department and… Continue Reading
Consensus-as-a-service: a brief report on the emergence of permissioned, distributed ledger systems
Via Great Wall of Numbers this Report by Tim Sanson, April 6, 2015 – Highlights: •”Distributed ledgers and cryptocurrency systems are fundamentally different. •The key difference involves how transactions are validated: Bitcoin uses pseudonymous and anonymous nodes to validate transactions whereas distributed ledgers require legal identities – permissioned nodes to validate transactions. •Consequently, distributed ledgers… Continue Reading
A critical analysis of Facebook’s Revised Policies and Terms
From social media service to advertising network – A critical analysis of Facebook’s Revised Policies and Terms DRAFT 31 March 2015. The authors are part of the Interdisciplinary Centre for Law and ICT/Centre for Intellectual Property Rights(ICRI/CIR) of KU Leuven (www.icri.be), the department of Studies on Media, Information and Telecommunication (SMIT) of the Vrije Universiteit… Continue Reading
Membership of the 114th Congress: A Profile
Membership of the 114th Congress: A Profile. Jennifer E. Manning, Information Research Specialist. March 31, 2015 “This report presents a profile of the membership of the 114th Congress (2015-2016). Statistical information is included on selected characteristics of Members, including data on party affiliation, average age, occupation, education, length of congressional service, religious affiliation, gender, ethnicity,… Continue Reading
Cambridge Yearbook of European Legal Studies Now Online
“The Cambridge Yearbook of European Legal Studies is CELS’ flagship publication. It provides a forum for the scrutiny of significant issues in European Union Law, the Law of the Council of Europe, and Comparative Law with a “European” dimension, and particularly those which have come to the fore during the year preceding publication. The contributions… Continue Reading
Enrollment in Private Health Insurance Exchanges Doubled
“A new report by Accenture estimates 6 million people enrolled in private health insurance exchanges for their 2015 employer benefits. These findings show private health insurance exchanges – an online marketplace for people to choose their employer-sponsored benefits – doubled enrollment this year, up from 3 million in 2014. Accenture’s findings show midsize employers, defined… Continue Reading
