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Explaining the Dearth of Private Investment

From Vox EU: Explaining the dearth of private investment, by Aqib Aslam, Samya Beidas-Strom, Daniel Leigh, Seok Gil Park, Hui Tong: Business investment in advanced economies contracted sharply during the global crisis and has recovered little since....



Philly Fed: State Coincident Indexes increased in 46 states in February

From the Philly Fed: The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for February 2015. In the past month, the indexes increased in 46 states, decreased in one, and remained stable in three, for a one-month...



The U.S. Is Becoming an Oligarchy

Gary Hart: “Our Founders created a republic and, being keen students of the history of republics beginning with Athens, they knew that placing special and narrow interests ahead of the common good and the commonwealth was the corruption that...



The one Bloomberg feature every trader felt lost without

When Bloomberg terminals went down for more than 2 hours on Friday morning, one feature that industry folks particularly missed was the chat tool, known as Instant Bloomberg. More than 315,000 people use Bloomberg terminals around the world. Because the...



NBER Annual conference on macroeconomics

Today I am at the NBER annual macroeconomics conference as an observer.  The program and papers are here, and they look very interesting.  You may be hearing more about this later; I am allowed to blog the presentations but not attribute...



George Lucas' affordable housing plans upsets wealthy California neighbors

After a career spent building worlds in a galaxy far, far away, George Lucas wants to create a community much closer to home. The Star Wars creator has filed plans for what would be one of the largest tracts of affordable housing in the Bay Area to be ...



Apple heading to $1 trillion: Analyst

FBR analyst Dan Ives explains why thinks Apple is heading to a $1 trillion valuation within 12...



Déjà Vu Weather? No, It's a Recession!

New Seasonal Pattern?Yesterday Fed Governor Stanley Fischer proclaimed U.S. Economy Should Rebound After ‘Poor’ First Quarter. “There’s definitely a rebound on the way already, and we’ll see at what speed it proceeds,”...



Fed Shies Away From June Rate Increase

A patch of soft economic data has created uncertainty inside the Federal Reserve about when to start raising short-term interest rates, reducing the probability of a move by...



Top 16 Fastest Cars Under $25,000

Source: Ford If you’re willing to spend over $50,000 on a high-octane performance car, you’re pretty well catered to. Even around $40,000, there’s no shortage of fun, tossable cars to choose from. But as you come down the ladder,...



Don't expect to buy an Apple Watch in-store until June

Good news: If you preordered an Apple Watch on April 10 and saw an April 24-May 8 estimated shipping date, you might actually get a Watch on the 24th. Bad news: If you holding off on preordering a Watch until you could buy one in-store, you’ll...



Saudi Tadawul Stock Market Will Open To Foreigners in Mid-June

John Burbank must be salivating… Saudi Arabia‘s Tadawul stock market will be open to foreign investors as of June 15th this year, allowing direct access to the Middle East’s largest economy for the first time ever. The Saudis...



Take A Broader View to Better Understand the New-Home Market

Construction workers do touch-up work on a newly constructed home near Jacksonville, Fla. Kris Hudson/The Wall Street Journal The Commerce Department’s monthly figures on the new-home market typically come with a lot of noise. Its latest...



Ben Bernanke Will Work With Citadel, a Hedge Fund, as an Adviser

The move by the former Federal Reserve chairman is the latest by a Washington insider through the revolving door into the financial...



Blackstone CEO Steve Schwarzman says his private equity firm is just like Apple

Blackstone posted another solid quarter of earnings this morning. CEO Steve Schwarzman is feeling pretty good about his investment firm, and its prospects, in light of yet. "We're like an Apple, a Google, a Boeing, a...



'No More Cheating: Restoring the Rule of Law in Financial Markets'

Simon Johnson: No More Cheating: Restoring the Rule of Law in Financial Markets, by Simon Johnson: ... In a speech on Wednesday, Senator Elizabeth Warren (D., MA) laid out a vision for better financial markets. This is not a left-wing or...



Poor Returns Weigh on Sears Pension Plan

The problems at Sears don’t end with its stores. The company also has to worry about its cash-draining pension plan. There, too, some of the damage has been self-inflicted, in the form of poor investment...



Links for 04-16-15

Nonlinearity, Multiple Equilibria, and Too Much Fun - Paul Krugman Money Markets and Monetary Policy Normalization - Simon Potter Growth Effects, Level Effects, and Transitional Growth - Growth Economics Mainstream Economics is Flawed &...



The Fed’s Beige Book: We Read It So You Don’t Have To

Idled trucks wait for an oil well to re-open in Texas. A Fed report said oil and gas producers and oilfield service firms have continued to cut their workforce as low oil prices forced deeper cost cutting. SPENCER PLATT/GETTY IMAGES The U.S. economy...



Protesters Take Part In Nationwide Rally For $15 Minimum Wage

Tens of thousands of protesters gathered across the country on Wednesday to speak out against low wages. The demonstrations are led by the group Fight for $15, which seeks a minimum hourly wage of $15 for fast-food employees. Though McDonald's...



Item-response and ideal point models

To continue from today’s class, here’s what we’ll be discussing next time: - Estimating the direction and the magnitude of the discrimination parameters. - How to tell when your data don’t fit the model. - When...



Tyler Cowen’s three laws

Many of you have been asking for a canonical statement of what I sometimes refer to as Cowen’s Laws.  Here goes: 1. Cowen’s First Law: There is something wrong with everything (by which I mean there are few decisive or knockdown...



'Redistribution Can Involve Less Government Rather than More'

Dean Baker: Redistribution Can Involve Less Government Rather than More: Thomas Edsall presents some interesting polling results in his NYT column indicating less public support for government policies to redistribute income even as the distribution of...



Mergers & Acquisitions: Nokia Agrees to $16.6 Billion Takeover of Alcatel-Lucent

Under the terms of the deal, the Finnish company Nokia said that it had offered 0.55 of a new share for each share of its French...



Castleton Commodities Bids For Morgan Stanley Oil Unit

It looks like Morgan Stanley has finally lined up a buyer for its oil trading unit. The investment bank had preliminary deals with foreign buyers in place twice in the past, but both deals fell through. According to sources who spoke to the Wall Street...



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Energy Future Files Reorganization Plan

Texas energy giant Energy Future Holdings has filed the restructuring plan that outlines how it hopes to reshape a $42 billion debt load and exit...



Ben Bernanke Will Work With Citadel, a Hedge Fund, as an Adviser

The move by the former Federal Reserve chairman is the latest by a Washington insider through the revolving door into the financial...



Links for 04-16-15

Nonlinearity, Multiple Equilibria, and Too Much Fun - Paul Krugman Money Markets and Monetary Policy Normalization - Simon Potter Growth Effects, Level Effects, and Transitional Growth - Growth Economics Mainstream Economics is Flawed &...



NBER Annual conference on macroeconomics

Today I am at the NBER annual macroeconomics conference as an observer.  The program and papers are here, and they look very interesting.  You may be hearing more about this later; I am allowed to blog the presentations but not attribute...



Don't expect to buy an Apple Watch in-store until June

Good news: If you preordered an Apple Watch on April 10 and saw an April 24-May 8 estimated shipping date, you might actually get a Watch on the 24th. Bad news: If you holding off on preordering a Watch until you could buy one in-store, you’ll...



Slowing Emerging-Market Growth Is Sapping Global Economic Prospects

Global economic growth will climb only marginally this year, the International Monetary Fund said in its flagship World Economic Outlook...



Obama Is Very Popular in Cuba

A new Bendixen & Amandi Poll finds that President Obama also enjoys an 80% favorability rating in Cuba — nearly twice as high was he rates in the United...



Hedge Fund Kamunting Street Capital Shutting Down

A hedge-fund firm founded by former Citigroup proprietary trading star Allan Teh is shutting down partly because of losses related to oil’s historic...



Links for 03-23-15

Fed moves the markets - Econbrowser Mid-Atlantic Currencies - Paul Krugman A politician’s age and policy - Vox EU Currency wars rebound on the Fed - Gavyn Davies Asymmetric home bias and the transfer problem - Nick Rowe Why College Isn’t...



Poor Returns Weigh on Sears Pension Plan

The problems at Sears don’t end with its stores. The company also has to worry about its cash-draining pension plan. There, too, some of the damage has been self-inflicted, in the form of poor investment...



The one Bloomberg feature every trader felt lost without

When Bloomberg terminals went down for more than 2 hours on Friday morning, one feature that industry folks particularly missed was the chat tool, known as Instant Bloomberg. More than 315,000 people use Bloomberg terminals around the world. Because the...



Top 16 Fastest Cars Under $25,000

Source: Ford If you’re willing to spend over $50,000 on a high-octane performance car, you’re pretty well catered to. Even around $40,000, there’s no shortage of fun, tossable cars to choose from. But as you come down the ladder,...



'Redistribution Can Involve Less Government Rather than More'

Dean Baker: Redistribution Can Involve Less Government Rather than More: Thomas Edsall presents some interesting polling results in his NYT column indicating less public support for government policies to redistribute income even as the distribution of...



GALLUP POP: O APPROVAL BACK TO 50%...

GALLUP POP: O APPROVAL BACK TO 50%...(First column, 1st story, link) ...



Links for 04-10-15

Dynamic Efficiency, Private Capital, and Taxpayer... - Brad DeLong The robots aren’t threatening your job - The Washington Post Futures Markets for Babies - The Leisure of the Theory Class On the inherent instability of private money - Daniel R....



Does GE Capital's Demise Mean Financial Reform Is Working?

Interesting post today from Paul Krugman about the shadow banking system and GE's recent decision to get out of the finance biz: GE Capital was a quintessential example of the rise of shadow banking. In most important respects it acted like a...