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Archives for: January 2009


Platts Energy Economist, 1/1/2009
Lave: Major utility planners Ďtearing out hairí
The nation is in uncharted territory as President-elect Barack Obama focuses on projects that fit under the green energy or smart-grid catetory. According to Lester Lave, Harry B. and James H. Higgins Professor of Economics and University Professor; Director, Carnegie Mellon Green Design Initiative; Co-Director, Carnegie Mellon Electricity Industry Center, ďif you were a planner for a major utility, I think you would be tearing out your hair.Ē

American Enterprise Institute, 1/6/2009
Meltzerís proposal backed by Congressman
A U.S. Congressman has introduced legislation based on a proposal by Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer suggests addressing a low demand for housing by offering a tax credit for anyone who makes a down payment on an existing unsold house in 2009. URL for this article: http://www.aei.org/publications/filter.all,pubID.29146/pub_detail.asp

KDKA-TV, 1/6/2009
Lave: Alcoa had no choice in layoffs
Alcoa had no choice but to announce a series of drastic cutbacks because of the worldwide recession, says Lester Lave, Harry B. and James H. Higgins Professor of Economics and University Professor; Director, Carnegie Mellon Green Design Initiative; Co-Director, Carnegie Mellon Electricity Industry Center. Lave says while he is sorry for those who were laid off, itís more important that the company survive and protect the workers that it can. URL for this interview (includes text as well as link to video): http://kdka.com/business/Alcoa.job.cuts.2.901645.html

Talent Management, 1/7/2009
Study: Women tend to retire earlier or switch careers more than men
Women arenít climing as many rungs on the executive ladder because they are more likely than men to retire early or switch careers, according to research by Robert A. Miller, Professor of Economics and Strategy, and George-Levi Gayle and Limor Golan, both Assistant Professors of Economics. Miller says women may still face discrimination in less rewarding assignments or unpleasant work environments. URL for this article: http://www.talentmgt.com/industry_news/2009/January/4017/index.php

McClatchy Newspapers, 1/7/2009
Goodfriend: Fedís ability to write unlimited checks a powerful weapon
The Federal Reserve is the only entity that can write checks on itself without limit ó a powerful weapon against the economic downturn, says Marvin Goodfriend, Professor of Economics; Chairman, The Gailliot Center for Public Policy. Though the strategy wonít work immediately, it will eventually work if used aggressively, he says. URL for this article: http://www.centredaily.com/505/story/1047557.html

Power Services, 1/10/2009
Article criticizes renewables
A recent article by Tepper School faculty and staff lays out a powerful critique of renewables in general. The article was authored by Jay Apt, Executive Director of Carnegie Mellon Electricity Industry Center, Associate Research Professor, Distinguished Service Professor in Engineering and Public Policy; Lester Lave, Harry B. and James H. Higgins Professor of Economics and University Professor; Director, Carnegie Mellon Green Design Initiative; Co-Director, Carnegie Mellon Electricity Industry Center; and graduate student Sompop Pattanriynkool. URL for this article: http://powerservices.lakho.com/node/719

Entertainment and Showbiz, 1/10/2009
Study shows frequent price cuts can work against brands
Promotional strategy, which involves frequent price cuts, can actually work against even for the most popular and well-respected brands, according to a study. Baohong Sun, Associate Professor of Marketing, was among those who conducted the study, which was titled ďA Dynamic Model of Brand Choice When Price and Advertising Signal Product Quality.Ē URL for this article: http://www.entertainmentandshowbiz.com/promotional-strategy-frequent-price-cuts-adversely-affects-quality-brands-200901109067

Helium , 1/10/2009
Kelley: Reliability, resourcefulness keys to winning promotions
People who want promotions should go above and beyond their job descriptions, says Robert Kelley, Adjunct Professor of Organizational Behavior and Theory. Kelley says key players are reliable and resourceful, taking care of things as needs arise. URL for this article: http://www.helium.com/items/1290529-job-promotions-come-when

WDRB-TV, 1/12/2009
Vosgerau: Downsized consumer buying likely to continue
The trend of consumers downsizing their buying habits is only going to continue, predicts Joachim Vosgerau, Assistant Professor of Marketing. Vosgerau has found that people are buying less in addition to buying cheaper goods. URL for this article: http://www.fox41.com/Global/story.asp?S=9380138&nav=menu1404_10_1

Diverse, 1/13/2009
Study: Ban on affirmative action could sharply reduce minority enrollment
A universal ban on affirmative action in college admissions could reduce the number of minorities at the nationís best colleges and universities by as much as 35 percent. Thatís the finding of new research by Holger Sieg, Professor of Economics, and Dennis Epple, Thomas Lord Professor of Economics; Head, B.S. Economics Program. URL for this article: http://diverseeducation.com/artman/publish/article_12162.shtml

Bloomberg, 1/14/2009
Meltzer: Expectations are conditional
Federal Reserve Chairman Ben Bernanke is correct when he says expectations are conditional, says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. However, he notes, the Fed is not the only influence on those expectations. URL for this article: http://www.bloomberg.com/apps/news?pid=20601039&sid=aHproVhWgpi0&refer=columnist_baum

Reuters, 1/15/2009
Green: Public schools caught in a bind
Public schools across the country are caught in a bind, says Richard Green, Richard M. and Margaret S. Cyert Chair; Professor of Financial Economics; Associate Dean, Research. He points out that state and local tax revenues are way down due to the housing collapse, which has also driven up demand for state and local funding. URL for this article: http://www.reuters.com/article/domesticNews/idUSTRE50E6TW20090115

Bloomberg, 1/15/2009
Bush administration failed to control spending, says Meltzer
President Bushís final budget shortfall will be almost $1.2 trillion, according to the Congressional Budget Office. Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy, says Bushís administration did not control spending. URL for this article: http://www.bloomberg.com/apps/news?pid=20601074&sid=aAmzcFpf.SPU&refer=politics

Pittsburgh Tribune-Review, 1/16/2009
Meltzer: Pittsburgh has no advantage in owning Parking Authority assets
Pittsburgh should sell the Parking Authorityís assets, rather than leasing them for several decades, according to Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer says there is no advantage to the city to owning the assets. URL for this article: https://sites.stockpoint.com/dain/newspaper.asp?site=D&Mode=Debt&Story=20090116/016e9051.xml

Reuters, 1/16/2009
Meltzer: Force firms to match federal aid with private funds
The more money the United States spends to prevent failures, the more failures will occur in the future, says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer believes the government should wean financial firms off public money by requiring them to pursue matching private funds for any federal aid they receive. URL for this article: http://www.reuters.com/article/innovationNews/idUSTRE50F6HG20090116

The Tartan, 1/19/2009
Students in Free Enterprise sponsor business-building competition
Carnegie Mellonís Project Build Your Own Business, which is part of Students in Free Enterprise (SIFE), sponsored the Build Your Own Business (BYOB) Idea Competition. Participants submitted business proposals and were interviewed, and the top five presented in front of a panel of judges. URL for this article: http://thetartan.org/2009/1/19/news/sife

USA Today, 1/22/2009
Kraut: Strength in numbers for social networking sites
The value of social networking Web sites grows as more people use them, according to Robert Kraut, Herbert A. Simon Professor of Human-Computer Interaction, School of Computer Science and Joint Appointment at Tepper School of Business. Kraut says he and his wife look at Facebook more because his son and daughter-in-law post pictures and videos of his new grandchild there. URL for this article: http://www.honoluluadvertiser.com/article/20090122/LIFE/901220305/-1/RSS05?source=rss_breaking

MarketWatch, 1/26/2009
Goodfriend: Fed must increase money supply
Even if credit channels were fully repaired, the Federal Reserve would have to expand its balance sheet to act against the downturn, says Marvin Goodfriend, Professor of Economics; Chairman, The Gailliot Center for Public Policy. That means the Fed has to increase money supply. URL for this article: http://www.marketwatch.com/news/story/Fed-throws-kitchen-sink-recession/story.aspx?guid=%7B982D9405-B83E-4C5E-AA8D-5B5DE08F1DD3%7D

Securities Regulation and Law Report, 1/26/2009
Short sellers have been made scapegoats, says Spatt
Short sellers have been scapegoats in the economic crisis, says Chester Spatt, Pamela R. and Kenneth B. Dunn Professor of Finance; Director, Center for Financial Markets. Spatt argues that short sellers were actually protecting investors against purchasing overpriced assets. A URL for this article is unavailable. For a complete copy of the text, please contact Barbara Feldman.

Wall Street Journal , 1/27/2009
Meltzer: Economic crisis may hurt Fedís independence
Some observers are worried that the current economic crisis is whittling away at the Federal Reserveís autonomy. When the Fed chairman is seen commiserating with the Secretary of the Treasury or members of Congress, it does not signal independence, says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. This article can be found online by using the ProQuest database available to Carnegie Mellon users via this link: http://proquest.umi.com/pqdweb?did=1633424301&sid=1&Fmt=3&cl ientId=3259&RQT=309&VName=PQD

Los Angeles Times, 1/27/2009
Lave Ďamazedí that OPEC members are living up to promised cuts
In the past, OPEC production cuts primarily came from Saudi Arabia, while other members of the 13-nation coalition did little, says Lester Lave, Harry B. and James H. Higgins Professor of Economics and University Professor; Director, Carnegie Mellon Green Design Initiative; Co-Director, Carnegie Mellon Electricity Industry Center. But since January 1, most members have been living up to their promised output cuts, and Lave says he is amazed. URL for this article: http://www.latimes.com/business/la-fi-gas27-2009jan27,0,6608543.story

MarketWatch, 1/28/2009
Fed moves helping economy, says Goodfriend
Federal Reserve moves that amount to the central bank writing unlimited checks on itself will create economic benefit, even though banks arenít lending the reserves the Fed is creating, says Marvin Goodfriend, Professor of Economics; Chairman, The Gailliot Center for Public Policy. The broad money is making investors and companies more liquid. URL for this article: http://www.marketwatch.com/news/story/fed-prepared-buy-treasuries-sees/story.aspx?guid=%7BA9F7568E%2D3239%2D4B2F%2DA85F%2D3044349421F8%7D&dist=msr_1

The American, 1/28/2009
Too much fiscal stimulus is problematic, says Meltzer
Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy, is cautioning against excessive fiscal stimulus. Meltzer says itís important to allow prices to find a floor, and predicts the system will be sorted out once the housing market stops declining. URL for this article: http://www.american.com/archive/2009/is-deregulation-to-blame

Bloomberg, 1/29/2009
Goodfriend calls for accord, exit strategy
The Federal Reserve should have an accord giving it some push-back capacity, says Marvin Goodfriend, Professor of Economics; Chairman, The Gailliot Center for Public Policy. Goodfriend also believes there is need for an exit strategy to make policy credible. URL for this article: http://www.bloomberg.com/apps/news?pid=20601068&sid=alib5UHQ3zr0&refer=home

Tri-State Defender, 1/29/2009
Research: Justice not always color-blind
New research co-authored by Robert Kelley, Adjunct Professor of Organizational and Behavioral Theory, suggests that the judicial decision-making process may not always be objective and color-blind. The review of U.S. federal court cases found that the race of federal judges affected the outcome of cases involving workplace racial harassment. URL for this article: http://tri-statedefenderonline.com/articlelive/articles/3522/1/Racial-filters-may-affect-court-case-outcomes-study-finds/Page1.html

The Times (London), 1/30/2009
Meltzer: Greenspan allowed credit too expand too fast
Former Federal Reserve Chairman Alan Greenspan allowed credit to expand too rapidly, according to Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer says Greenspan was too afraid of an economic slowdown or recession. URL for this article: http://timesbusiness.typepad.com/money_weblog/2009/01/the-ten-men-to-blame-for-the-credit-crunch.html

Bloomberg, 1/30/2009
Goodfriend: Fed needs to establish credit policy boundaries with government
The Federal Reserve needs to establish credit policy boundaries between itself and the government, says Marvin Goodfriend, Professor of Economics; Chairman, The Gailliot Center for Public Policy. Goodfriend points out that there is no accord protecting the Fedís credit policies from misuse the way the 1951 Accord protects monetary policy. URL for this article: http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_baum&sid=aZ8pEdak_Yv8

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