We offer the following samples of our work. You can click on the links at right to view samples from a particular category.
Europe Has Short-Circuited Default/Devaluation Adjustment Mechanisms Audio
Stresses within the European Monetary Union will be absorbed by steeper coupon yield curves at higher rates than would exist otherwise.
Tracking the True Cost Of The TARP
The Treasury infused $247.26 billion into 184 companies over the span of the credit crisis. In exchange for these bailouts, the Treasury received securities that are currently valued at $255.10 billion. This means the TARP bailouts have actually turned a profit for U.S. taxpayers as of this writing. After factoring in the current value of the securities the Treasury received in exchange for its bailout money, the Treasury has turned a net profit of $7.84 billion for a 3.17% return on investment over the period.
What Is Taylor-Rule Neutrality For The Federal Funds Rate?
Both the binary options market and the federal funds futures market are expecting no move at this month’s September 16, 2008 meeting. If the Federal Reserve is holding at 2.00%, does this mean they have achieved a neutral funds rate? One popular way to measure “neutral” is to use the Taylor rule, created by Stanford economist John Taylor.
A Perspective On Gasoline Demand Are We Overstating Its Influence?
The decline in Vehicle Miles Traveled to-date is only one-third the size of the 1970s despite a parallel rise in price. More important, the rising productivity of motor fuel consumption has dampened the macroeconomic shock seen in the 1970s. Demand destruction is not as great as it may appear.
Will Home Equity Loans Be The Next Stage In The Credit Crisis?
At the heart of the credit crisis is the plunge in home prices. Even though many have proclaimed the crisis over, home prices have continued to plunge. As long as they do, the credit crisis is at risk to morph into other forms. Home equity loans now look like one of the next areas of vulnerability for the financial system.
Who Are The Commodity Speculators?
If “speculators” are driving commodities higher, then they are not done. The popularity of long-only funds and commodity ETFs is not waning. The buyers of these funds do not think they are part of the problem of rampant speculation, so they continue to push money into these funds which helps force prices even higher.