Richard Geddes, Cornell University professor of policy analysis and management, comments on the proposed elimination of Saturday mail delivery from the U.S. Postal Service, which is facing an $8.3 billion budget shortfall.
While the new Consumer Protection Financial Bureau (CFPB), which opens today, is aimed at overseeing the books at big banks and making sure financial products are clear, a more effective solution would be to better enforce laws already on the books, says a banking expert at Washington University in St. Louis.
Innovation drives markets. But when innovation is left unharnessed and spreads too fast, regulation can’t keep up and innovation implodes. Jo-Ellen Pozner studies organizational legitimacy and corporate governance and analyzed how the diffusion of innovative practices contributed to the 2008 financial crisis causing “terminal isomorphism” and the mortgage market meltdown. Pozner is an assistant professor at the University of California, Berkeley’s Haas School of Business.
Dr. Memo Diriker of Salisbury University’s Franklin P. Perdue School of Business is available to speak with reporters on the debt crisis.
The Italian government on July 14 passed an austerity package designed to balance the budget by 2014 and protect Italy from a debt crisis. Will it work? Most likely not, says an economist at Washington University in St. Louis.
Michael Goldberg, the Roland H. O'Neal Professor at the University of New Hampshire, said the government’s failure to raise the debt ceiling could cause a global financial crisis even more severe than the 2008 financial meltdown and send the United States and world economies back into recession.
A study of home purchases during the real estate boom years in Chicago shows how one ethically murky – and sometimes illegal - tactic used to sell homes may have contributed to the housing crash.
Researchers at the University at Buffalo examined more than 360 U.S. metro areas to determine which would be most likely to come out of the next recession, natural disaster or other regional “shock” relatively unscathed.
Did we really celebrate our independence this week, or has the ongoing financial crisis put the American dream of independence beyond the reach of many of our nation’s citizens? That’s the question author David Coates is asking in his new book, Making the Progressive Case: Toward a Stronger U.S. Economy.
The results of a survey given to Washington D.C. area CFOs reveal a less than optimistic outlook on the U.S. economy.
Babson College Finance Professor Michael Goldstein’s research on the impact of the ice road economy in the Arctic.
According to a newly released Stony Brook Poll conducted in association with Left Right Research, a Long Island based Marketing Research supplier, more than 81 percent of approximately 7,000 people surveyed believe that they had contributed enough to Social Security to support themselves in retirement, or more than they will receive during their lifetime.
Can we really celebrate our independence this 4th of July, or has the ongoing financial crisis put the American dream of independence beyond the reach of many of our nation’s citizens? That’s the question author David Coates is asking in his new book, Making the Progressive Case: Toward a Stronger U.S. Economy.
Food prices are high worldwide and many factors are causing the increase, according to a Kansas State University agricultural economist.
Agricultural land values are booming again in the Northern Great Plains, if a South Dakota study is any indication. The latest study from South Dakota State University economists suggests South Dakota land values charted a 16.5 percent increase in 2010-2011.
Detroit, Houston, Los Angeles, Phoenix & Hilton Head assessed their supplies of distressed commercial real estate and determined the best way to turn some of it into green space. Known as the Red Fields to Green Fields program, the cities could create 20,000 acres of new parkland & 300,000 new jobs.
Roughly 1 of every 6 Americans age 18 to 64 reported using more than 10 percent of their total family income to pay for health insurance premiums and out-of-pocket medical expenses in 2007.
The economic impacts of routine weather events can add up to 3.4% of the nation's GDP.
As housing prices in the United States continue to drop, the best way to help the market is to stop delaying foreclosures, according to two recent studies co-authored by Kansas State finance professor Eric Higgins.
Part of the conference at Syracuse University will focus on the economic and personal impact of the March 2011 Japanese earthquake and tsunami, including a particular emphasis on vulnerable groups such as the disabled, the elderly, and children in times of disaster.
A University of Arkansas finance professor analyzed a key British law that affects corporations using money to fund political advertisements in the United Kingdom and found that the law did not end corporate political spending.
While Groupon is popular at the moment, the company’s business model may not be sustainable over the long term, says a marketing expert at Olin Business School, Washington University in St. Louis. “The only way for businesses to justify the ‘loss leader’ promotion that Groupon uses to acquire new customers is to hope that the acquired customers return to the business in the future and pay regular, profitable prices,” says Seethu Seetharaman, PhD, the W. Patrick McGinnis Professor of Marketing.
The University of Virginia Darden School of Business and its Tayloe Murphy Center released the findings of a major study today that outlines specific steps for how banks and credit unions can capture billions of dollars in deposits by reaching out to Latino and other “unbanked” households across the United States.
It’s summer, and the rules are off, right? Ice cream for dinner! Expensive vacations! Your budget shouldn’t change because it’s summer. Your expenses will differ from the school year, but your budget is like your waistline — you do not want it to expand.
How likely are you to repurchase a stock you sold? Professor Terrance Odean, who studies behavioral finance at the University of California, Berkeley's Haas School of Business, found that that trading patterns involving previously owned stock are driven by a desire to avoid or at least limit anticipated regret. In other words, investors are likely to repurchase a stock if the sale boosts feelings of satisfaction.
When the current financial crisis hit, the failure of traditional economic doctrines to provide any sort of early warning shocked not only financial experts worldwide, but also governments and the general public, and we all began to question the effectiveness and validity of those doctrines. A research team based in Israel decided to investigate what went awry, searching for order in an apparently random system.
Washington University in St. Louis will host the 2011 North American Summer Meeting of the Econometric Society June 9-12. The Econometric Society, which has a worldwide membership, is the most prestigious learned society in the field of economics.
Instead of feeling stressed by the money they owe, many young adults actually feel empowered by their credit card and education debts, according to a new nationwide study.
A common reading of the recent subprime mortgage crisis pins the blame on bankers and loan brokers who extended mortgages to those who could not afford them, thereby inflating a housing bubble that was destined to burst.
Some Midwestern communities are bucking the outmigration trend according to two new reports that profile those communities, their amenities and some of the keys to their economic vitality.
A common reading of the recent subprime mortgage crisis pins the blame on bankers and loan brokers who extended mortgages to those who could not afford them, thereby inflating a housing bubble that was destined to burst. While technically correct, that reading ignores the "politics of creditworthiness" that undergirded the rise of subprime mortgages, as explained in a new study.
A list of faculty experts who can address an array of hurricane-related topics.
Darden School finance experts are helping to bring underserved Pakistanis and Bangladeshis into the banking mainstream. They have joined Shore Bank International to help increase access to mobile banking.
Hazards with horrific outcomes — like the disaster at the Fukushima Daiichi nuclear plant in Japan — are not only difficult to contemplate but are also challenging to plan for financially. Especially when the odds of them happening are incredibly low, says Stuart I. Greenbaum, management expert at Olin Business School, Washington University in St. Louis.
Male disability applicants rejected for federal benefits tend to have lower earnings and labor force participation rates than beneficiaries over the decade prior to applying for federal disability benefits.
The New England region is struggling to establish strong growth and recover the jobs lost during the recent recession as U.S. economic conditions remain weak. The region’s economy is forecast to continue to grow slowly through the first half of 2011 and then to pick up some modest strength, according to Ross Gittell, James R. Carter Professor of Management at the University of New Hampshire.
Two studies of consumers could benefit car manufacturers. A nationwide survey asked consumers what changes to the common complaints of charging time and limited range are worth. For longer range, they’d pay $35-$75/mile. For faster charging, they’d pay up to $3,250/hour. A second study showed longer range isn’t absolutely necessary for many. The current 100-mile range could work for 32% of people.
For job seekers who dream of joining a startup company hoping it will become the next Starbucks or Google, Polly Black, director of the Center for Innovation, Creativity and Entrepreneurship at Wake Forest University, shares the top five things to consider before joining a new business venture.
Kate Bronfenbrenner, Cornell University senior lecturer at the School of Industrial and Labor Relations, comments on Boeing’s decision to shift some of its production from Washington to South Carolina and an ensuing complaint filed by the National Labor Relations Board.
Prostitution, which is illegal nationwide except for a few counties in Nevada, continues to create problems for communities and law-enforcement agencies. A new study by an economics researcher at the University of Arkansas analyzes the U.S. prostitution market and provides policy recommendations to increase safety for women and communities and help government agencies regulate or enforce “the oldest profession.”
Robert Hockett, an expert in financial regulations and Professor of Law at Cornell University, discusses the merits of the Treasury Department’s announcement today that is plans to sell 200 million shares that it currently holds in insurance giant AIG, which was bailed out by U.S. taxpayers.
Richard Geddes, associate professor of policy analysis and management at Cornell University and author of “The Road to Renewal: Private Investment in U.S. Transportation Infrastructure,” comments on the Department of Transportation’s recent allocation of $2 billion for high-speed rail.
An Iowa State University study has found that the U.S. industry's "fast fashion" focus has resulted in diminishing returns on market share -- both at home, and abroad in Japan.
Kelly Musick is a professor of policy analysis and management at Cornell University, and is a member of the Population Association of America and Cornell’s Population Program. She comments on figures released May 9, 2011, from the U.S. Census Bureau finding that women are having children later in life.
Foreclosures depress communities and economies. But how does one measure the direct impact of foreclosures on the overall economy? The problem is complicated by the fact that other economic shocks – such as job losses – could be jointly driving up foreclosures and driving down economic growth. Haas economist Atif Mian finds answers by exploiting legal differences across states in how mortgage defaults are handled.
In an op-ed in today's Washington Post, Gordon Adams, a professor at American University’s School of International Service, calls for more Pentagon budget cuts. Adams is a former associate director for national security and international affairs at the Office of Management and Budget.
People living in countries with governments that have a greater number of social services report being more satisfied with life, according to a study by a Baylor University researcher. Dr. Patrick Flavin, assistant professor of political science at Baylor, said the effect of state intervention into the economy equaled or exceeded marriage when it came to satisfaction. The study is published in the spring issue of the journal Politics & Policy.
Social Security’s yearly cost-of living adjustments (COLA) are targeted for reduction through a proposed “chained COLA” formula, and that could be a huge problem for those dependent on Social Security income. “COLA is an invaluable feature of Social Security,” says Merton C. Bernstein, LLB, a nationally recognized expert on Social Security. According to Bernstein, Republican “reformers” propose to reduce COLA claiming that the current method of calculating it overstates inflation. “This unrealistically assumes that people have the opportunity to buy lower priced substitutes when millions of people lack access to markets that offer such choices,” he says.
More American families are turning to federal assistance to heat their homes during the winter, with many more families eligible for but not taking advantage of the program, according to new research from the Carsey Institute at the University of New Hampshire.
A joint study by academics in Switzerland, Germany and at Boston University sheds new light on the formation of financial bubbles and crashes. The study reveals a general empirical law quantifying market behavior near bubbles and crashes.
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