Money and Markets Financial Investment Blogs | Weiss Group. Growthology. Matrix | Interpreting the Real Estate Economy. Blog. It has been difficult to determine what happens to residents, and houses, following foreclosures. With regard to the residents, there had been reports suggesting many became homeless or doubled-up with family or friends. For tenants of rented houses subject to foreclosure, concerns that they would be evicted led to legislation in 2009 protecting tenants. A recent study by Federal Reserve economists Raven Molloy and Hui Shan, based on credit bureau data, sheds new light on the fate of homeowners subject to foreclosure.
Their data set includes the start of the foreclosure process, but does not show the completion. The data show where the individuals in the household lived two years after the foreclosure was initiated. Molloy and Shan find that half of the households were still in their homes after two years, reflecting the lengthy foreclosure process.
Other data sources don't offer much information about the effect of foreclosures on households. The Housing Bubble Blog. Intangible Wealth. Le blog de Laurent GUERBY. Le jeudi 19 novembre des plaisantins se sont amusés a mettre sur le net les courriels privés de la CRU - Climatic Research Unit. George Monbiot dans un article intitulé "The Knights Carbonic" publié par the Guardian identifie quelques courriels dont deux (1 2) montrant les efforts spécifiques des membres de la CRU pour ne pas avoir a rendre disponible au public les données et code source sous tendant leurs études. La communauté étudiant le climat terrestre est en effet depuis quelques années sur la défensive sur la mise a disposition du public de ces données brutes et codes sources, surtout après les efforts de Stephen McIntyre et de quelques autres.
On peut retrouver un historique d'une de ces démarches pour que le public puisse avoir accès aux données et codes, historique éclairé par les courriels rendus publics dans cet article. Heureusement, certains membres de la communauté du climat commencent a critiquer de l'intérieur cette obscurité tenace et déplacée par exemple Judith Curry : Information Processing. Willem Buiter's Maverecon | FT.com. On September 25, 2009, the Commission of the European Communities produced a proposal for EU-level macro-prudential regulation and supervision, “Proposal for a Regulation of the European Parliament and of the Council on Community macro prudential oversight of the financial system and establishing a European Systemic Risk Board”. It looks as though the EU Presidency (Sweden) and the Commission are trying to get this proposal adopted in a hurry. I recognise the need for EU level regulation and supervision of macro-prudential risk and support EU-level Colleges or Agencies to supervise systemically important cross-border banks, other financial institutions, markets and instruments.
Unfortunately, the design of the proposed European Systemic Risk Board (ESRB) is a shambles. . (1) This is it The European Commission’s proposal is worth quoting at length. 6.1. The ESRB is an entirely new European body with no precedent, which shall be responsible for macro-prudential oversight. 6.2. 6.2.1. 6.5. Marginal Utility. Increasing returns.
Models & Agents. Institute of Knowledge. MarketBeat. Marginal Revolution. Going as far back as Andrew Weiss’s survey paper , there are various attempts to argue that the two theories make the same predictions about earnings and education. A randomly elevated individual will earn more money but is this from having learned more or from being pooled with a more productive set of peers? To explore this, let’s pursue the very good question asked by Bryan Caplan : Our story begins with a 22-year-old high school graduate with a B average. He knows an unscrupulous nerd who can hack into Harvard’s central computer and give him a fake diploma, complete with transcript. In the U.S. labor market, what is the present discounted value of that fake diploma? If he can fake a good interview (a big if, but let’s say), and if certification from recommenders is not important in the chosen sector (another big if), he may get a Harvard-quality job for his first placement.
In most jobs they figure out your productivity within two or three months after training, if not sooner. Mathematician’s View. International Political Economy Zone. Knowledge Problem. Market Power. Kids Prefer Cheese. John Quiggin. iMFdirect – The IMF Blog. Interfluidity. InvestorCentric. Institutional Economics: ‘Light Reading It’s Not’ - Forbes. Economics One. Hot Property Mortgage Blog. Posted by: Chris Palmeri on November 24, 2009 I suspect many a real estate mogul got their start playing the board game classic Monopoly. It has a new look this year. This time rather than just houses and hotels, players can also build industrial buildings, railroads and sports stadiums, many in 3D versions in the center of the board.
This being a game, players can also put up bonus buildings that protect their properties or “hazard buildings” that lower the value of opponent’s properties. Not sure what the real world equivalent of those would be, maybe a night club. Parker Brothers launched Monopoly during the Great Depression and it was a huge hit in those tough times. This year though, going bankrupt and losing property seems a little too close to home. Posted by: Chris Palmeri on November 19, 2009 Environmentally-friendly construction practices have gotten a lot of hype over the past few years but do they really pay off as an investment? The U.S. Can't argue with that. He’s back. 1. KeithHennessey.com | Your guide to American economic policy. MacroMania. MarketObservation.com. Jka on economics UK. The UK is in a liquidity trap, a situation where monetary policy is unable to stimulate the economy either through lowering of interest rates or increasing money supply.
Liquidity traps occur when rates are reduced to the zero bound or thereabouts and cannot be reduced further. In real terms UK rates (base rate minus inflation) are negative 4%. The liquidity trap is compounded when expectations of adverse events, either deflation or in the current situation, a lack of aggregate demand, are manifest. Firms are loathe to invest, households are constrained to spend, government spending is limited by a desire to resolve the debt crisis. The first round of Quantatitive Easing was essential to improve liquidity in the banking system at a time of crisis. Inter bank lending was dessicated, LIBOR spreads were extending. This is not an argument for more asset purchases, for the exercise came at a price.
Ten year gilt yields have fallen to 2.4% and thirty year gilt yields have fallen to 3.5%. Irvine Housing Blog - Irvine Real Estate and Irvine Homes.