New and sweeping federal financial regulation passed by Congress late last week will give regulators tools to clean up the next financial crisis but will not prevent another crisis, says banking expert Tim Yeager, associate professor of finance at the University of Arkansas and former economist at the Federal Reserve Bank of St. Louis.
Robert C. Hockett, professor at the Cornell University Law School and an expert on financial law and economic globalization, comments on historic financial regulation reform legislation passed today by the U.S. Senate.
As millions of boomers prepare to retire US manufacturing companies, hit harder than other sectors by the recession, now face huge costs for training new employees in the forthcoming years, according to a report by the Sloan Center on Aging at Boston College.
Thanks to the recession, today’s job market is crowded. If an open position at a company would once attract 100 resumes, today it could attract 500. The search can be long and grueling. Butler University Executive-in-Residence Marv Recht offers some tips to help in the job search.
Continued support for off-shore oil drilling by Gulf Coast residents who are dealing with one of the most devastating environmental disasters in U.S. history might seem surprising, but new research from the University of New Hampshire shows that local factors such as unemployment and population growth influence views about the value of environmental conservation and regulation.
Not only are the children of the 15.3 million unemployed Americans feeling the impact of financial hardship brought on by the economic recession, many of their children may be experiencing an avoidable loss of healthcare coverage, according to new research by the Child Policy Research Center at Cincinnati Children’s Hospital Medical Center published in the July issue of Health Affairs.
As recession-weary consumers learn to make do with less in this, the real world, there is one area where they’re still willing to spend freely: in online, “virtual” ones. A Florida State University researcher is studying the growing market for virtual products, particularly in Internet virtual worlds, and has identified several factors that appear to increase the likelihood that people will make these types of purchases.
Camp Cash, a two-week summer program teaches students in grades six through nine the importance of money management and budgeting.
Already off to a tough start in life, 49 percent of American babies born into poor families will be poor for at least half their childhoods, a new Urban Institute study finds. Among children who are not poor at birth, only 4 percent will be “persistently” poor as children.
Working students and other youth need to keep an eye on their own tax obligations, according to an accounting professor and lawyer at Rowan University, Glassboro, N.J.
Why do entrepreneurs flock to startup meccas like the Silicon Valley or Boston? Professor and Chair in Real Estate Development Robert Helsley at the University of California, Berkeley’s Haas School of Business, has studied entrepreneurial clustering and showed in a recent working paper that density or thickness of local input markets translates into faster productivity and higher profitability.
Research results published in “The Economic Effect of Education in an Information Technology-Penetrating Economy: Evidence From Hong Kong” reflect the impact of education on economic well being in a technological society.
The U.S. Senate and the U.S. House of Representative are working toward a final version of the financial reform bill, which is expected be on the desk of President Barack Obama by July 4. Securities law expert Hillary A. Sale, JD, professor of law at Washington University in St. Louis, says that is coming at a good time for the Securities & Exchange Commission.
A Texas Tech University expert says the economic impact is catastrophic and will have far-reaching effects that will likely transmit to the nation as a whole.
States in which defense spending is high are better equipped to withstand the effects of an economic downturn than others, according to a new study led by University of Alabama at Birmingham (UAB) Assistant Professor of Sociology Casey Borch, Ph.D.
Unemployment is hovering near 10 percent — the highest in more than 26 years. That figure doesn’t include those involuntarily working part-time (one to 34 hours a week) or those who gave up looking for jobs for one reason or another and fell off the unemployment rolls. So even if you’d like the challenge of a new job, you may have to wait out this economic slump, says Butler University Executive-in-Residence Marv Recht.
During past recessions, the financial stability of hospitals seemed to be nearly indestructible. But researchers at the University of Michigan Health System and St. Joseph Mercy Health System say the current national economic crisis may be an exception.
Howard Van Auken, the Bob and Kay Smith Fellow in Entrepreneurship in Iowa State University's College of Business, provides advice to determine whether a good business idea has entrepreneurial merit.
Starting in April, millions of small businesses began to receive postcards from the Internal Revenue Service about the new Small Business Health Care Tax Credit. Even if your business hasn’t received a postcard, you may still be eligible for this credit designed to help small businesses and non-profit organizations that pay employee health insurance premiums in 2010, says Bill Terando, a professor of accounting at Butler University.
Because companies and organizations are making more “just-in-time” hiring decisions, the summer hiring season looks brighter for new college graduates who are still looking for a job.
As lawmakers begin meeting next week to mull over legislation aimed at averting another financial crisis, a former Federal Reserve economist cautions that such sweeping reform could have serious unintended consequences. “This is very ambitious and hugely complicated legislation that is being done very fast,” says Robert Bliss, who is now a professor at Wake Forest University Schools of Business.
A Windsor, Ont., researcher says the loss of traditional manufacturing jobs in Canada is fuelling a backlash against feminism.
The need to “fix” or restate financial statements is an admission by corporate management that these reports (prior to their being corrected) to the government and the investing public misrepresented the corporations’ financial positions, Texas A&M University sociology professor Harland Prechel reports in a research paper published in the June 2010 issue of the American Sociological Review (ASR).
Middle-aged Canadians are much less worried about the future than their American counterparts, some of whom are close to panic, says an Alberta researcher who has just finished a survey in both countries. And she says the differing attitudes today may foreshadow growing differences between the two countries as that cohort move into old age.
Economic activity in Latin America and the Caribbean is having negative impacts.
The Business Conditions Index for the Mid-America region advanced for a sixth straight month, pointing to a growing economy in the months ahead, according to the May Business Conditions survey of supply managers in a nine-state region.
With new college graduates facing one of the toughest job markets in years, internships are becoming one of the keys to getting hired in today’s economy. In many cases, universities consider internships so important that they are building endowments and offering stipends to fund students’ salaries, said Patrick Sullivan, associate director of experiential education at Wake Forest University.
More business schools need to dedicate more attention to emerging markets as the sheer number of said markets, their projected growth, and distinct natures demand it.
Homeland security and other regulatory agencies are creating jobs and a record-breaking budget according to a new study from the Weidenbaum Center on the Economy, Government, and Public Policy at Washington University in St. Louis and the George Washington University Regulatory Studies Center. A Decade of Growth in the Regulators’ Budget: An Analysis of the U.S. Budget for Fiscal Years 2010 and 2011 details the rise in regulatory spending and who gets the lion's share of this year's $59 billion federal regulatory budget.
Research completed by an Indiana State University Networks Financial Institute fellow has concluded that systemic risk is not a feature of the insurance industry.
New data on residential building permits issued in Virginia, compiled by the University of Virginia's Weldon Cooper Center for Public Service, paints a bleak picture of a housing industry hammered by the recession.
A new book by University of Virginia planning professor William Lucy looks more deeply at the reasons behind the foreclosure crisis and its future impact on cities and suburbs.
Business leaders around the world are more focused today than ever before on managing risk and uncertainty within their organizations. According to new research released this week by Babson Executive Education (BEE)—The Report on Business Uncertainty: 2010 Survey Results— almost half of 1,048 global executives surveyed said they are taking bolder actions than before 2008 when the global economy tumbled.
A random sample of littered cigarette packs reveals that 75 percent of the cigarettes used in Chicago bring no tax revenue to the city, according to researchers at the University of Illinois at Chicago.
As thousands of Generation Y college graduates flood the workforce this spring, the nation’s employers may want to brace themselves for a new crop of entitlement-minded workers.
According to the Higher Education Research Institute, more first-year college students have concerns about their ability to pay for college than at any time in the last 40 years. At Wake Forest University, graduating seniors are responding to this anxiety.
A North Carolina State University study shows that out-of-work agricultural laborers from small farms that do not provide unemployment insurance spend fewer weeks unemployed and then earn less than other workers when rehired.
During the 2007-2008 foreclosure crisis, did banks prey on unwitting consumers, or did households overreach and borrow more than they could afford? A new study by University of Arkansas economists suggests the latter. The researchers found that most households in foreclosure were relatively affluent and highly educated people, with few or no children, living in geographical areas that experienced extremely rapid real-estate appreciation – the housing bubble.
Officials say it may take up to three months to seal off a leaking oil well 5,000 feet below the surface of the Gulf of Mexico that has created a massive environmental crisis that could affect much of the Gulf coast. The Florida State University, which is leading a statewide Oil Spill Academic Task Force to assist the Gulf region in preparing for and responding to the oil spill, is home to some of the nation’s top experts in measuring and modeling the magnitude and trajectory of the spill, providing information on the potential and actual ecological impacts of the oil and evaluating risks associated with the spill. The spill followed an explosion on April 20.
The decline in the generosity of Social Security benefits for workers who recently reached their 60s has been the leading cause of the trend toward delayed retirement of older men, a new national study suggests.
The current Greek debt crisis looks to be a classic case of potential 'contagion' in global financial markets. Things can turn more ominous, however, when speculators in the financial markets begin betting en masse against a country like Greece, for in these cases the fears of some investors can become self-fulfilling prophecies.
“There is evidence that when there are savings and assets in the household – particularly savings in a child’s name – that children have greater educational attainment, are more likely to do well in high school, attend college and graduate from college,” says Michael Sherraden, PhD, the Benjamin E. Youngdahl Professor of Social Development at Washington University in St. Louis. Sherraden, who recently was named to TIME Magazine’s Time 100, directs the Center for Social Development, which focuses much of its research on asset building.
A new national survey of high school students’ attitudes toward the U.S. economy, conducted by Hamilton College, shows more than two-thirds of African-American teenagers believe they’ll be more prosperous than their parents. In contrast, a little more than a third of white students believe their standard of living will be better than their parents.
In today’s tight job market, new college graduates will typically spend up to 24 months seeking employment, says Butler University’s Director of Internship and Career Services Gary Beaulieu. “You can’t wait until two weeks before graduation to start looking,” he said. “You’ve got to start early and be very organized in your job search.”
Faculty and staff experts at The University of Texas at Austin are available to share their insight on job-seeking strategies for new graduates, the role of social media in job seeking, trends in campus recruiting, the link between education and a career, how to be indispensable at work and how new graduates should negotiate their first salary.
Charles K. Whitehead, Associate Professor at the Cornell University School of Law and former associate in a law firm representing Goldman Sachs, comments on the strength of SEC charges of fraud in a civil complaint against Goldman Sachs.
Thomas Hirschl, professor of Development Sociology at Cornell University, comments about the widespread reliance on food stamps, Medicaid, reduced school lunches and other forms of public assistance.
In another encouraging economic sign, a national survey showed that American consumers felt less stress in March than they did in February about the amount of debt they owed.
Responding to concerns about an increasingly electronic stock exchange, Terrence Hendershott studied algorithmic trading and found that computer-driven trading based on algorithmic formulas does, in fact, improve the market’s liquidity. Furthermore, this kind of high speed trading allows stock prices to become more “efficient” or reflective of true supply and demand in the market.
Two economists offer a new way to look at financial markets that recognizes that the rational market is a myth – in the strictest sense of the word: it is a widely held but false belief. It cannot be turned into reality by any means, including regulatory policy, no matter how wise or efficacious. The reason is simple: assets’ underlying values unfold over time in non-routine ways that no one can fully foresee.
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