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Feed Sources: CNBC, Wall St. Journal , Financial Times, Marginal Revolution, Liberty Street Economics

  • ‘Lehman-type’ moment? Analysts warn that markets are too complacent over coronavirus risks
    Markets are underestimating the potential fallout of the coronavirus outbreak, according to economic research firm AdMacro. ... read more
    Source: Econ – CNBC 1Published on 2020-01-28
  • Coronavirus vs. SARS: Health experts on the key differences between the two outbreaks
    The direct comparison comes as market participants try to understand the potential economic impact of the latest outbreak. ... read more
    Source: Econ – CNBC 1Published on 2020-01-28
  • The sell-off in oil isn’t ‘entirely comparable’ to what happened with SARS, says CEO
    There's a "bear stampede" in the oil market as a new coronavirus spreads, but that may not be directly comparable to the sell off in 2003 associated with the outbreak of SARS, according to Vandana Hari, founder and CEO of Vanda Insights. ... read more
    Source: Econ – CNBC 1Published on 2020-01-28
  • EU warns UK it will ‘never, never, never’ give way on its single market ahead of trade talks
    The EU will "never, never, never" compromise on the integrity of the bloc's single market when it comes to negotiating a trade deal with the U.K., according to Michel Barnier. ... read more
    Source: Econ – CNBC 1Published on 2020-01-28
  • Japan warns about risks to economy from China virus outbreak
    The outbreak could hit Japanese department stores, retailers and hotels, which count on a boost to sales from an inflow of Chinese tourists visiting during the Lunar Holiday. ... read more
    Source: Econ – CNBC 1Published on 2020-01-27
  • Japan nominates economist, who supports monetary easing, to join BOJ board
    The nomination is likely to reinforce market expectations the central bank will maintain its massive stimulus program to reflate the economy and fire up inflation to its elusive 2% target. ... read more
    Source: Econ – CNBC 1Published on 2020-01-27
  • Stocks in Asia decline as Dow plunges amid coronavirus fears; South Korea drops more than 2%
    Stocks in Asia declined in Tuesday morning trade after the Dow Jones Industrial Average plunged overnight amid fears about the ongoing coronavirus outbreak that continues to grip investors. ... read more
    Source: Econ – CNBC 1Published on 2020-01-27
  • China and Apple’s TV service will be under the spotlight when it reports earnings
    As the first full quarter with iPhone 11 sales, analysts and investors also watch closely to see how well the newest models, launched in September, are doing in the market. ... read more
    Source: Econ – CNBC 1Published on 2020-01-27
  • Dow posts worst day since October and turns negative for the year as coronavirus fears grow
    Stocks tanked after more cases of the coronavirus were confirmed, ratcheting up worries over the virus' impact on the economy. ... read more
    Source: Econ – CNBC 1Published on 2020-01-27
  • Oil tumbles into bear market, hits more than 3-month low on fears coronavirus will slow global growth
    Oil prices hit their lowest level since October as demand fears, sparked by the coronavirus outbreak, continued to pressure prices. ... read more
    Source: Econ – CNBC 1Published on 2020-01-27
  • These US stocks have the most exposure to China’s consumer market getting hit by coronavirus fears
    Wall Street analysts are issuing warnings about retailers, restaurants and hotels that have high revenue exposure to China. ... read more
    Source: Econ – CNBC 1Published on 2020-01-27
  • Europe’s plans for a carbon tax could derail trade deal with the US
    The latest EU-U.S. standoff could dent efforts to reach a trade deal this year, experts told CNBC. ... read more
    Source: Econ – CNBC 1Published on 2020-01-27
  • Oil prices likely to ‘stay down’ for months: Energy analysts fear impact of fast-spreading coronavirus
    Oil prices slumped to multi-month lows on Monday, with traders concerned about demand growth as the coronavirus spreads globally. ... read more
    Source: Econ – CNBC 1Published on 2020-01-27
  • Global stock markets roiled as China’s coronavirus spreads
    Investors have been spooked by the spread of the Chinese coronavirus, with stock markets around the globe sharply lower on Monday. ... read more
    Source: Econ – CNBC 1Published on 2020-01-27
  • Singapore says China virus outbreak will hit its economy this year
    Source: Econ – CNBC 1Published on 2020-01-27
  • The Opioid Tragedy, Part 2: “It’s Not a Death Sentence” (Ep. 403)
    (Photo: Getty/Frey) One prescription drug is keeping some addicts from dying. So why isn’t it more widespread? A story of regulation, stigma, and the potentially fatal faith in abstinence. Listen and subscribe to our podcast at Apple Podcasts, Stitcher, or elsewhere. Below is a transcript of the episode, edited for ... read more
    Source: Econ – Freakonomics 2Published on 2020-01-22
  • The Opioid Tragedy, Part 1: “We’ve Addicted an Entire Generation” (Ep. 402)
    (Photo Moore/Getty) How pharma greed, government subsidies, and a push to make pain the “fifth vital sign” kicked off a crisis that costs $80 billion a year and has killed hundreds of thousands of Americans. Listen and subscribe to our podcast at Apple Podcasts, Stitcher, or elsewhere. Below is a ... read more
    Source: Econ – Freakonomics 2Published on 2020-01-15
  • 5 Psychology Terms You’re Probably Misusing (Ep. 334 Rebroadcast)
    (Photo: Harris A Ewing/Wikimedia Commons) We all like to throw around terms that describe human behavior — “bystander apathy” and “steep learning curve” and “hard-wired.” Most of the time, they don’t actually mean what we think they mean. But don’t worry — the experts are getting it wrong, too. Listen ... read more
    Source: Econ – Freakonomics 2Published on 2020-01-08
  • The Zero-Minute Workout (Ep. 383 Rebroadcast)
    (Photo: Flickr) There is strong evidence that exercise is wildly beneficial. There is even stronger evidence that most people hate to exercise. So if a pill could mimic the effects of working out, why wouldn’t we want to take it? Listen and subscribe to our podcast at Apple Podcasts, Stitcher, ... read more
    Source: Econ – Freakonomics 2Published on 2020-01-01
  • Why Is This Man Running for President? (Ep. 362 Update)
    (Photo: Miller/Getty) A year ago, nobody was taking Andrew Yang very seriously. Now he is America’s favorite entrepre-nerd, with a candidacy that keeps gaining momentum. This episode includes our Jan. 2019 conversation with the leader of the Yang Gang and a fresh interview recorded from the campaign trail in Iowa. ... read more
    Source: Econ – Freakonomics 2Published on 2019-12-18
  • How to Hate Taxes a Little Bit Less (Ep. 400)
    (Photo: McNew/Getty) Every year, Americans short the I.R.S. nearly half a trillion dollars. Most ideas to increase compliance are more stick than carrot — scary letters, audits, and penalties. But what if we gave taxpayers a chance to allocate how their money is spent, or even bribed them with a ... read more
    Source: Econ – Freakonomics 2Published on 2019-12-11
  • Honey, I Grew the Economy (Ep. 399)
    (Photo: Create Digital Media) Innovation experts have long overlooked where a lot of innovation actually happens. The personal computer, the mountain bike, the artificial pancreas — none of these came from some big R&D lab, but from users tinkering in their homes. Acknowledging this reality — and encouraging it — ... read more
    Source: Econ – Freakonomics 2Published on 2019-12-04
  • How to Change Your Mind (Ep. 379 Rebroadcast)
    If you aren’t listening to a certain style of music by the time you’re in your late 20’s, there’s a 95 percent chance you’re never going to. (Photo: Magni/Pexels) There are a lot of barriers to changing your mind: ego, overconfidence, inertia — and cost. Politicians who flip-flop get mocked; ... read more
    Source: Econ – Freakonomics 2Published on 2019-11-27
  • The Truth About the Vaping Crisis (Ep. 398)
    After more than 40 deaths, some states and cities have banned vaping products, many of which are used as smoking-cessation devices. Meanwhile, nearly 500,000 people die each year from smoking, and cigarettes are still widely available. (Photo: Burton/Getty) A recent outbreak of illness and death has gotten everyone’s attention — ... read more
    Source: Econ – Freakonomics 2Published on 2019-11-20
  • How to Save $32 Million in One Hour (Ep. 397)
    The U.K. has been at the epicenter of evidence-based policymaking, where the Behavioral Insights Team — or “Nudge Unit” — has done research and advised governments and institutions on how to put behavioral science to use for the greater good. (Photo: Wilson/Getty) For nearly a decade, governments have been using ... read more
    Source: Econ – Freakonomics 2Published on 2019-11-13
  • Why Does Tipping Still Exist? (Ep. 396)
    It’s estimated that tipping in America adds up to about $40 billion a year. That is larger than the entire health-and-fitness industry and it’s double the annual budget for NASA. (Photo: Circe Denyer) It’s an acutely haphazard way of paying workers, and yet it keeps expanding. We dig into the ... read more
    Source: Econ – Freakonomics 2Published on 2019-11-06
  • Speak Softly and Carry Big Data (Ep. 395)
    Assumptions interfere with good foreign policy, says political scientist Robert Pape. “It’s too easy to have preconceptions like it’s religion that causes people to blow themselves up. And if you get it wrong you could do really dumb things, like send an army to Iraq in 2003.” (Photo: Nelson/Getty) Do ... read more
    Source: Econ – Freakonomics 2Published on 2019-10-30
  • Does Hollywood Still Have a Princess Problem? (Ep. 394)
    Disney’s classic princess movies, which some critics see as promoting outdated role models, are being updated to reflect more modern sensibilities. And the strategy is paying off. (Photo: Harrison/Getty) For decades, there’s been a huge gender disparity both on-screen and behind the scenes. But it seems like cold, hard data ... read more
    Source: Econ – Freakonomics 2Published on 2019-10-23
  • Can Britain Get Its “Great” Back? (Ep. 393)
    London retains just seven percent of taxes raised, compared to cities like New York (50 percent) and Tokyo (70 percent). Mayor Sadiq Khan says the city should have a larger say in how this revenue is used. (Photo: Taylor/Getty) It used to be a global capital of innovation, invention, and ... read more
    Source: Econ – Freakonomics 2Published on 2019-10-16
  • The Prime Minister Who Cried Brexit (Ep. 392)
    David Cameron and his Conservative administration became synonymous with Brexit, but he points out that every other political party in the U.K. has in recent history “supported a referendum on Europe.” (Photo: Kitwood/Getty) In 2016, David Cameron held a referendum on whether the U.K. should stay in the European Union. ... read more
    Source: Econ – Freakonomics 2Published on 2019-10-09
  • Newsletter: Boeing and the Economy, More Tariffs and Coronavirus Contagion
    This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. Grounded Pittsburgh-based Arconic said it expected to lose $400 million in sales and could cut jobs this year as a result of Boeing’s halted production of the 737 MAX. Six ... read more
    Source: Econ – WSJ 3Published on 2020-01-28
  • Newsletter: Coronavirus vs. the Economy
    This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. Coronavirus vs. Consumer Spending China was counting on consumers to underpin its already slowing economy. Now, authorities are advising people to stay home, and many residents are too frightened anyway ... read more
    Source: Econ – WSJ 3Published on 2020-01-27
  • Newsletter: Bottoming Out
    This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. Factory Floor The global manufacturing slump may have bottomed out. IHS Markit’s preliminary purchasing managers indexes for Japan, the U.K. and Europe showed factory activity continued to contract in January ... read more
    Source: Econ – WSJ 3Published on 2020-01-24
  • Newsletter: The Number of Homes for Sale Is at a Record Low
    This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. Build Me Up Buttercup U.S. home sales hit their high mark for the year in December, a sign that favorable mortgage rates and low unemployment are starting to lure more house ... read more
    Source: Econ – WSJ 3Published on 2020-01-23
  • Newsletter: Global Economic Tensions Are Here to Stay
    This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. Under Pressure Economic pressure remains President Trump’s weapon of choice in international disputes. Mr. Trump on Tuesday threatened another trade fight with Europe—just days after reaching an initial trade deal ... read more
    Source: Econ – WSJ 3Published on 2020-01-22
  • Newsletter: The Year of the Modest Rebound
    This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. Round Mound of Rebound The global economy is poised for a modest rebound in 2020, following a year in which it notched the weakest growth since the financial crisis. Global ... read more
    Source: Econ – WSJ 3Published on 2020-01-21
  • Newsletter: Has the Global Economy Already Bottomed Out?
    This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. On Target China’s economic growth slowed to 6.1% last year as sagging trade and business confidence pulled the closely watched reading to its lowest level in nearly three decades. The slowdown rippled ... read more
    Source: Econ – WSJ 3Published on 2020-01-17
  • Newsletter: Let’s Make a Deal
    This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. The One Where the U.S. and China Sign a Deal The U.S. and China signed a trade deal that officials say will lead to a sharp increase in sales of ... read more
    Source: Econ – WSJ 3Published on 2020-01-16
  • Newsletter: Everyday Low Prices
    This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. Our Prices Are Insane U.S. consumer prices rose slowly in December, capping a decade of soft inflation with a quiet peep. The consumer-price index—which measures the costs of everyday goods ... read more
    Source: Econ – WSJ 3Published on 2020-01-15
  • Newsletter: The Trade Deal No One Wanted
    This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. The Hours The U.S. labor market is still going strong. But there are signs weakness in the factory sector is bleeding into the rest of the economy. Manufacturers toward the ... read more
    Source: Econ – WSJ 3Published on 2020-01-14
  • Newsletter: Calling a Truce
    This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. Do You Really Want to Hurt Me The U.S. and China are prepared to sign an initial trade deal Wednesday, formally calling a truce in the two-year trade war. The ... read more
    Source: Econ – WSJ 3Published on 2020-01-13
  • Newsletter Special Edition: Ten Straight Years of Job Growth
    This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. The economy added a seasonally adjusted 145,000 jobs last month and unemployment stayed at a 50-year low of 3.5%, capping a 10th straight year of payroll gains and the longest stretch in ... read more
    Source: Econ – WSJ 3Published on 2020-01-10
  • Newsletter: The U.S. Labor Market Is Breaking Records
    This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. The Record Store A record-long stretch of job creation (110 months) has produced, well, some records. The share of the population age 65 and over in the labor force, for ... read more
    Source: Econ – WSJ 3Published on 2020-01-10
  • Newsletter: U.S. Population Growth Slowest in a Century
    This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. Baby Bust The U.S. population is growing at the slowest pace in about a century. The latest data came out over the holidays and flew a little bit under the ... read more
    Source: Econ – WSJ 3Published on 2020-01-09
  • Newsletter: Chinese Investment in Europe, North America Hits 9-Year Low
    This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. Trading Down U.S. tariffs triggered a slide in imports while American exports picked up in November, pushing the trade deficit to its lowest level since October 2016. Tariffs went into ... read more
    Source: Econ – WSJ 3Published on 2020-01-08
  • Gabriel Tarde’s *On Communication and Social Influence*
    This 19th century French sociologist is worth reading, as he is somehow the way station between Pascal and Rene Girard, with an influence on Bruno LaTour as well.  Tarde most of all focuses on how copying helps to explain social order and also drive innovation.  For Tarde, copying, innovation, and ... read more
    Source: Econ Marginal Revolution 4Published on 2020-01-28
  • From Bret Stephens
    In October, Brian Riedl of the Manhattan Institute tallied the costs of Mr. Sanders’s policy goals. By his calculations, the federal government would double in size. Half the American work force would be employed by the government, Mr. Riedl writes. Government spending as a percent of G.D.P. would rise to 70 ... read more
    Source: Econ Marginal Revolution 4Published on 2020-01-27
  • Sunday assorted links
    Source: Econ Marginal Revolution 4Published on 2020-01-26
  • Dracula on Gratitude
    I enjoyed the Dracula mini-series on Netflix–it’s smart, stylish and a fresh take. Also, at just three episodes, it’s satisfying without requiring a huge time investment. Dracula has some pointed commentary on contemporary mores, including economics. After sleeping for a hundred years he finds himself in an ordinary home and ... read more
    Source: Econ Marginal Revolution 4Published on 2020-01-26
  • When the market drives you crazy
    That is the title of the paper, by Corrado Giuletti, Mirco Tonin, and Michael Vlassopoulos, the subtitle is “Stock market returns and fatal car accidents,” here is the abstract: This paper provides evidence that daily fluctuations in the stock market have important–and hitherto neglected–spillover effects on fatal car accidents. Using ... read more
    Source: Econ Marginal Revolution 4Published on 2020-01-26
  • Saturday assorted links
    Source: Econ Marginal Revolution 4Published on 2020-01-25
  • Vancouver vending machine markets in everything
    Health advocates say a safe supply of opioids is critical to help prevent people from overdosing on tainted street drugs. Now, a pilot project in Vancouver’s Downtown Eastside provides some high-risk users with access to an automated machine that dispenses opioids prescribed by a doctor… The machine, called MySafe, is stocked with hydromorphone ... read more
    Source: Econ Marginal Revolution 4Published on 2020-01-25
  • My spring 2020 Industrial Organization reading list and syllabus
    It is long, so I am putting this beneath the fold… Productivity American Economic Review Symposium, May 2010, starts with “Why do Firms in Developing Countries Have Low Productivity?” runs pp.620-633. Nicholas Bloom, Raffaella Sadun, and John Van Reenen, “Recent Advances in the Empirics of Organizational Economics,” http://cep.lse.ac.uk/pubs/download/dp0970.pdf. Serguey ... read more
    Source: Econ Marginal Revolution 4Published on 2020-01-25
  • *Escaping Paternalism*
    The authors are Mario Rizzo and Glen Whitman, and the subtitle is Rationality, Behavioral Economics, and Public Policy.  This is the most comprehensive, definitive attempt to respond to paternalism and nudge that I have seen, written from a (mostly) libertarian and partially Austrian perspective.  Excerpt: In our discussion of preferences, ... read more
    Source: Econ Marginal Revolution 4Published on 2020-01-24
  • *Serious Noticing*, the new James Wood book
    The subtitle is Selected Essays 1997-2019, here is one excerpt: A genre is hardening.  It is becoming possible to describe the contemporary ‘big, ambitious novel’.  Familial resemblances are asserting themselves, and a parent can be named: Dickens.  Such recent novels as Rushdie’s The Ground Beneath Her Feet, Pynchon’s Mason & ... read more
    Source: Econ Marginal Revolution 4Published on 2020-01-24
  • Thursday assorted links
    1. New Sam Peltzman paper about people moving to the political right as they age: “The change in mean Libcon from early adulthood (25) to old age (80) is substantial (over. 20 on the -1, 1 scale), and around half of this occurs after age 45. 2. Ryan Avent on ... read more
    Source: Econ Marginal Revolution 4Published on 2020-01-23
  • Countering The Narrative
    A surprising fact about the 2016 election is that Trump received fewer votes from whites with the highest levels of racial resentment than Romney did in 2012…Trump’s vote totals improved the most among swing voters: low-socioeconomic status whites who are political moderates. That is from recent research by Justin Grimmer ... read more
    Source: Econ Marginal Revolution 4Published on 2020-01-23
  • The economics of pandemic preparation
    That is the topic of my latest Bloomberg column, here is one short excerpt: …most of the vaccine-making capacity against a new virus would be concentrated in a few multinationals, and much of that activity occurs outside the U.S. If a pandemic were to become truly serious, politics might intervene and prevent the ... read more
    Source: Econ Marginal Revolution 4Published on 2020-01-23
  • *Smith: It’s a Capitalist World*
    That is a new magazine, on UK-style paper, nice-looking, and presented by Jamie Whyte.  The first issue was published this December, and contributors include Dominic Hilton, Vernon Bogdanor, Helen Dale, David Friedman, Steven Landsburg (who seems to have a column on economic puzzles), Matt Ridley, Martha Bayles, and others. So ... read more
    Source: Econ Marginal Revolution 4Published on 2020-01-22
  • Marginal Revolution University video for Anna Schwarz
    It is excellent, one of my favorite MRU videos to date: Here is some text from the release email: The second episode of Women In Economics is out today! Join Harvard’s Claudia Goldin, UC Berkeley’s Christina Romer, and more on an insightful, engaging look at Anna Jacobson Schwartz’s ... read more
    Source: Econ Marginal Revolution 4Published on 2020-01-22
  • How Does Tick Size Affect Treasury Market Quality?
    Michael Fleming, Giang Nguyen, and Francisco Ruela The popularity of U.S. Treasury securities as a means of pricing other securities, managing interest rate risk, and storing value is, in part, due to the efficiency and liquidity of the U.S. Treasury market. Any structural changes that might affect these attributes ... read more
    Source: Econ Liberty Street 5Published on 2020-01-15
  • How Does Information Affect Liquidity in Over-the-Counter Markets?
    Michael Lee and Antoine Martin A large volume of financial transactions occur in decentralized markets that commonly depend on a network of dealers. Dealers face two impediments to providing liquidity in these markets. First, dealers may face informed traders. Second, they may face costs associated with maintaining large ... read more
    Source: Econ Liberty Street 5Published on 2020-01-13
  • What’s in A(AA) Credit Rating?
    Nina Boyarchenko and Or Shachar Rising nonfinancial corporate business leverage, especially for riskier “high-yield” firms, has recently received increased public and supervisory scrutiny. For example, the Federal Reserve’s May 2019 Financial Stability Report notes that “growth in business debt has outpaced GDP for the past 10 years, with ... read more
    Source: Econ Liberty Street 5Published on 2020-01-08
  • The Evolving Market for U.S. Sovereign Credit Risk
    Nina Boyarchenko and Or Shachar How should we measure market expectations of the U.S. government failing to meet its debt obligations and thereby defaulting? A natural candidate would be to use the spreads on U.S. sovereign single-name credit default swaps (CDS): since a CDS provides insurance to the ... read more
    Source: Econ Liberty Street 5Published on 2020-01-06
  • The New York Fed DSGE Model Forecast—December 2019
    William Chen, Marco Del Negro, Ethan Matlin, Reca Sarfati, and Andrea Tambalotti This post presents an update of the economic forecasts generated by the Federal Reserve Bank of New York’s dynamic stochastic general equilibrium (DSGE) model. We describe very briefly our forecast and its change since September 2019. As usual, we ... read more
    Source: Econ Liberty Street 5Published on 2019-12-20
  • Banking System Vulnerability: Annual Update
    Kristian Blickle, Fernando Duarte, Thomas Eisenbach, and Anna Kovner A key part of understanding the stability of the U.S. financial system is to monitor leverage and funding risks in the financial sector and the way in which these vulnerabilities interact to amplify negative shocks. In this post, we ... read more
    Source: Econ Liberty Street 5Published on 2019-12-18
  • Growth Has Slowed across the Region
    Jaison R. Abel, Jason Bram, Richard Deitz, and Jonathan Hastings At today’s regional economic press briefing, we highlighted some recent softening in the tri-state regional economy (New York, Northern New Jersey, and Fairfield County, Connecticut)—a noteworthy contrast from our briefing a year ago, when economic growth and job ... read more
    Source: Econ Liberty Street 5Published on 2019-12-17
  • Selection in Banking
    Nicola Cetorelli and Douglas Leonard Over the past thirty years, more than 2,900 U.S. banks have transformed from pure depository institutions into conglomerates involved in a broad range of business activities. What type of banks choose to become conglomerate organizations? In this post, we document that, from 1986 ... read more
    Source: Econ Liberty Street 5Published on 2019-12-16
  • Tariffs, Auto Loans, Rising College Costs, and Other Top LSE Posts of 2019
    Anna Snider With each new Liberty Street Economics post, we aim to build familiarity with New York Fed research and policy analysis, and to share the expertise of our staff when it is relevant to the issues of the day. More than sixty economists contribute, and we tap ... read more
    Source: Econ Liberty Street 5Published on 2019-12-13
  • Who Pays the Tax on Imports from China?
    Matthew Higgins, Thomas Klitgaard, and Michael Nattinger Tariffs are a form of taxation. Indeed, before the 1920s, tariffs (or customs duties) were typically the largest source of funding for the U.S. government. Of little interest for decades, tariffs are again becoming relevant, given the substantial increase in the ... read more
    Source: Econ Liberty Street 5Published on 2019-11-25
  • Monetary Policy Transmission and the Size of the Money Market Fund Industry
    Marco Cipriani, Jeff Gortmaker, and Gabriele La Spada In a recent post, we documented the transmission of monetary policy through money market funds (MMFs). In this post, we complement that analysis by comparing the transmission of monetary policy via MMFs to the transmission via bank deposits and studying ... read more
    Source: Econ Liberty Street 5Published on 2019-11-20
  • Real Inventory Slowdowns
    Richard K. Crump, David O. Lucca, and Casey McQuillan Inventory investment plays a central role in business cycle fluctuations. This post examines whether inventory investment amplifies or dampens economic fluctuations following a tightening in financial conditions. We find evidence supporting an amplification mechanism. This analysis suggests that inventory ... read more
    Source: Econ Liberty Street 5Published on 2019-11-18
  • Just Released: Racial Disparities in Student Loan Outcomes
    Andrew F. Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw Total household debt balances increased by $92 billion in the third quarter of 2019, according to the latest Quarterly Report on Household Debt and Credit from the New York Fed’s Center for Microeconomic Data. The balance increase reflected nearly ... read more
    Source: Econ Liberty Street 5Published on 2019-11-13
  • The Side Effects of Shadow Banking on Liquidity Provision
    Teodora Paligorova and João A.C. Santos Correction: When this post was first published, line labels in the panel showing Tier 1 capital ratios were reversed; the labels have been corrected. (November 13, 10:40 a.m.) Over the past two decades, the growth of shadow banking has transformed the ... read more
    Source: Econ Liberty Street 5Published on 2019-11-13
  • At the New York Fed: Fifth Annual Conference on the U.S. Treasury Market
    Michael J. Fleming, Peter Johansson, Frank M. Keane, and Justin Meyer The New York Fed recently hosted the fifth annual Conference on the U.S. Treasury Market. The one-day event was co-sponsored with the U.S. Department of the Treasury, the Federal Reserve Board, the U.S. Securities and Exchange ... read more
    Source: Econ Liberty Street 5Published on 2019-11-08