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Big City Populations Survive the Housing Crunch
Jul 02, 2009 - Brookings: Latest From Brookings
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Destabilizing US must change course
Jul 02, 2009 - Asia Times Online
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Worst over for economy but more pain to come, says MPC member David Miles
Jul 02, 2009 - Business: Economics | guardian.co.uk
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The European Central Bank: Hard talk, soft policy
Jul 02, 2009 - The Economist: News analysis
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Baltic martyrs for the euro
Jul 02, 2009 - The Economist: News analysis
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No Summer Vacation for Sec. of Education Arne Duncan
Jul 02, 2009 - ProPublica: Articles and Investigations
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Structuring the Consumer Financial Protection Agency
Jul 02, 2009 - Brookings: Latest From Brookings
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Unemployment Outlook Still Uncertain
Jul 02, 2009 - Brookings: Latest From Brookings
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Hans-Werner Sinn: Is the Bank Crisis Over?
Jul 02, 2009 - Project Syndicate
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What if Paul Krugman was a Japanese woman?
Jul 02, 2009 - Slate Magazine
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Who Killed the Public-Private Investment Program?
Jul 02, 2009 - The Atlantic Business Channel
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Russia must re-focus with post-imperial eyes
Jul 02, 2009 - FT.com - Comment and analysis
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Previewing President Obama’s Trip to Russia
Jul 02, 2009 - Brookings: Latest From Brookings
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SAUDI BOMBSHELLS, Part 2 : Why US officials blamed Iran
Jul 02, 2009 - Asia Times Online
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Two States, Still One Exit
Jul 02, 2009 - The American Prospect Articles
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Two Views on Afghanistan Mission: 'The War Is a Breeding Program for Terrorists'
Jul 02, 2009 - SPIEGEL ONLINE - International
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Obama's Summit in Russia: Which Side 'Blinks' First?
Jul 02, 2009 - CFR.org -
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Foreign Policy: Iraq's Real Deadline
Jul 02, 2009 - Foreign Policy
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Russia must re-focus with post-imperial eyes
Jul 02, 2009 - FT.com - Comment and analysis
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End the go-slow on gas in the East China Sea
Jul 02, 2009 - FT.com - Comment and analysis
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Turkey tries to revive EU membership bid
Jul 01, 2009 - NRC Handelsblad | International
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Turkey balances on shaky ground
Jul 01, 2009 - Asia Times Online
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Nabucco is still alive
Jul 02, 2009 - Asia Times Online
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How the Old New GM Becomes the New Old GM
Jul 02, 2009 - The Big Money
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Unemployment Outlook Still Uncertain
Jul 02, 2009 - Brookings: Latest From Brookings
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Cash for Clunkers: Invitation to Fraud?
Jul 02, 2009 - Miller-McCune
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Lear preparing to file for bankruptcy protection
Jul 02, 2009 - The Globe and Mail - Report on Business News
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Wal-Mart and Health Insurance: The Theories of the Case
Jul 02, 2009 - The Atlantic Business Channel
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Hitachi to sell batteries to GM
Jul 02, 2009 - BBC News | Business | World Edition
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New sales falls for US car makers
Jul 02, 2009 - BBC News | Business | World Edition
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China Considers Environmental Tax
Jul 01, 2009 - The Economic Observer
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Banking system like South Sea bubble, says senior Bank of England official
Jul 01, 2009 - Business: Economics | guardian.co.uk
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01Jul/FRBNY Below the Line: Estimates of Negative Equity among Nonprime Mortgage Borrowers
Jul 02, 2009 - Central Bank Research Hub
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02Jul/HK Econometric Approach to Early Warnings of Vulnerability in the Banking System and Currency Markets for Hong Kong and Other EMEAP Economies
Jul 02, 2009 - Central Bank Research Hub
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30Jun/CZ Stress testing credit risk: Is the Czech Republic different from Germany?
Jul 01, 2009 - Central Bank Research Hub
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01Jul/USBOS The Optimal Level of Deposit Insurance Coverage
Jul 01, 2009 - Central Bank Research Hub
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01Jul/FRBNY Globalized Banks: Lending to Emerging Markets in the Crisis
Jul 01, 2009 - Central Bank Research Hub
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01Jul/FR Identification of slowdowns and accelerations for the euro area economy.
Jul 01, 2009 - Central Bank Research Hub
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01Jul/FI Composition of Exports and Cross-Country Corruption
Jul 01, 2009 - Central Bank Research Hub
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01Jul/FI Real Exchange Rate, Output and Oil: Case of Four Large Energy Producers
Jul 01, 2009 - Central Bank Research Hub
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The Competitive Saving Motive: Evidence from Rising Sex Ratios and Savings Rates in China -- by Shang-Jin Wei, Xiaobo Zhang
Jun 30, 2009 - National Bureau of Economic Research Working Papers
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29Jun/ECB Monetary Policy and Inflationary Shocks Under Imperfect Credibility
Jun 30, 2009 - Central Bank Research Hub
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No Summer Vacation for Sec. of Education Arne Duncan
Jul 02, 2009 - ProPublica: Articles and Investigations
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What the placebo effect can teach us about health care reform. An interview with Peter Orszag.
Jul 02, 2009 - Slate Magazine
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Normalizing the Filibuster
Jul 02, 2009 - CJR
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Henry “Chip” Carey: A Constitutional Crisis in Honduras
Jul 02, 2009 - worldpolicy.org
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Why A Half-Assed Climate Bill Is Probably Worth Supporting
Jul 02, 2009 - The New Republic TOC
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ExxonMobil still funding climate sceptics
Jul 02, 2009 - World news and comment from the Guardian | guardian.co.uk
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Turkey plans to restart dam project
Jul 02, 2009 - World news and comment from the Guardian | guardian.co.uk
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Governance Matters 2009: Learning From Over a Decade of the Worldwide Governance Indicators
Jul 01, 2009 - Brookings: Latest From Brookings
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Money for Schools, but Discord on How to Spend It
Jul 01, 2009 - ProPublica: Articles and Investigations
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Swedes hope to lead EU on environment and economy
Jul 01, 2009 - NRC Handelsblad | International
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California Leads States Facing Deepening Budget Crises
Jul 02, 2009 - NewsHour with Jim Lehrer Podcast | PBS
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Jul 1: No green or even yellow shoots
Jul 02, 2009 - View from the Top
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Energy Market Developments in the Pacific Basin
Jul 02, 2009 - FORA.tv - Program Feed
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A conversation Peter Peterson, Founder of Peter G. Peterson Foundation
Jul 02, 2009 - Charlie Rose - Recent Content
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Mousavi says government 'illegitimate'
Jul 02, 2009 - The Real News Network
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Government Spending Keeps Abu Dhabi Building
Jul 02, 2009 - NPR Topics: Economy
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Unemployment Up To 9.5 Percent, A 26-Year High
Jul 02, 2009 - NPR Topics: Economy
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Put an X through visions of recovery
Jul 02, 2009 - Marketplace
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How Will Russia's Economy Emerge from the Crisis?
Jul 01, 2009 - Uploads by NewAmericaFoundation
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Medvedev's First Year in Office Brings Hints of Change, Some Surprises
Jul 01, 2009 - NewsHour with Jim Lehrer Podcast | PBS
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The dour consumer sentiment readings said that the great unwashed are smarter than the financial talking heads. They had ceased to be impressed with the "green shoots" theory. Lo and behold, worse than expected employment data has proven them right. We've pointed out that the Carmen Reinhart/Kenneth Rogoff analysis of past severe financial crises suggests that our unemployment rate will peak at over 11%. Given the quality of our policy responses, I see no reason to expect us to do better than the norm. But 11% plus does not seem to (yet) be in anyone's spreadsheet. David Rosenberg, who has [...]
A "W" Recession? Martin Feldstein has recently raised the possibility that we might experience a relapse into recession ( a perfect symmetrical W ), with the next dip in 2010 . In my view, this means (1) we should have opted for a bigger and better composed stimulus package, and (2) the timing of expenditures in the stimulus package might not be as problematic as many commentators have indicated. "I think we"re going to see a temporary substantial improvement," Feldstein, the former head of the National Bureau of Economic Research and a Reagan administration adviser, said today in an interview [...]
It is 18 month since the official onset of the current depression (as I continue to regard it), and almost six months since the inauguration of President Obama. It is a good time to take stock--to take the pulse of...
Will no one rid me of this turbulent central banker? Gordon Brown, the UK’s prime minister, may be asking just that when he learns of yet another critical comment from the governor of the Bank of England. For Henry II, king of England in the 12th century, the troublemaker was Thomas Becket, his own choice [...]
Caroline Freund , 3 July 2009 The collapse in trade has been unprecedentedly severe. This column examines potential explanations. While the global fragmentation of production has increased the responsiveness of trade flows to drops in demand, trade also responds more sharply to GDP during global slowdowns than during tranquil times. Full Article: Explaining the trade collapse
Not unique, but pretty awful MANY people have complained during the recession that too much authority has been concentrated in the executive and the Federal Reserve. They have a point, but the problem seems to be that the legislative branch of government has become entirely dysfunctional. What's more, it appears to be beyond reform. Ezra Klein is proposing some committee reforms that will never happen, but it's worth reading the logic behind the argument:The problem with the agricultural committees, however, can be summed up in a single question: Why would you, as a young member of Congress, choose to sit [...]
The stimulus package had two components, new spending and tax cuts. Everybody knew that the spending component would take time to put into place, six months or more for a lot of the infrastructure projects, and that meant that we...
The rise of huge quasi-banks that are too big to fail caused the financial crisis, according to Ravi Jagannathan and John Boyd, and they propose a cure.
The June employment report suggests that the alleged ‘green shoots’ are mostly yellow weeds that may eventually turn into brown manure. The employment report shows that conditions in the labor market continue to be extremely weak, with job losses in June of over 460,000. With the current rate of job losses, it is very clear that the unemployment rate could [...]
He tells the story of Gene Park, who examined FP's business at the end of 2005 and found that it was insuring deals which were 95% subprime: Park then conducted a little survey, asking the people around AIG FP most directly involved in insuring them how much subprime was in them. ... I guess the message of Lewis's piece is that FP caused the global financial crisis, even if it didn't necessarily cause the complete downfall of AIG -- that AIG ended up buying in to the bubble created by FP, just companies like Citigroup and Bear Stearns did.
If the nation's goal is to reduce greenhouse gas emissions and promote the development of clean energy, is it easier to do this by managing the price of emissions and renewables, or establishing quotas for their reduction (emissions) and production (renewables)?
The quip “There are three kinds of lies: lies, damn lies, and statistics” is variously attributed to Benjamin Disraeli or Mark Twain. What should the public make of government statistics, such as the monthly employment report released today, Thursday, July 2, by the U.S. Bureau of Labor Statistics (BLS)?
There is no lying in US [...]
Note: earlier Employment post: Employment Report: 467K Jobs Lost, 9.5% Unemployment Rate . The earlier post includes a comparison to previous recessions. This graph shows the unemployment rate compared to the stress test economic scenarios on a quarterly basis as provided by the regulators to the banks (no link). This is a quarterly forecast: the Unemployment Rate in Q2 was higher than the "more adverse" scenario. Note also that the unemployment rate has already exceeded the peak of the "baseline scenario". Diffusion Index Here is a look at how "widespread" the job losses are using the employment diffusion index from [...]
As you were drinking your morning coffee I’m sure you were filled with the same sense of excitement as I was—Sweden has adopted negative interest rates on reserves! Well, sort of. (HT — Malavel)
Here is the story from Forbes:
STOCKHOLM, July 2 (Reuters) - Sweden’s Riksbank cut interest rates to a fresh record low on Thursday [...]
Mike Dooley and Peter Garber argue (at VoxEU) that the recent crisis has nothing to do with “Bretton Woods 2” — an international monetary system where reserve growth in the “periphery” financed deficits in the center. They write:
“the crisis was caused by ineffective supervision and regulation of financial markets in the US and [...]
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