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Archives for: October 2011


Des Moines Register, 10/6/2011
Miller testifies in Iowa job discrimination lawsuit
Robert Miller, professor of economics and strategy, testified as part of a multimillion-dollar, class-action discrimination lawsuit in Iowa. Miller says a racial difference in job hunting strategy explains statistical gaps in the success of black vs. white job applications. URL for this article: http://www.desmoinesregister.com/article/20111007/NEWS/310070050/Attorneys-for-state-rest-in-job-discrimination-case

Pittsburgh Tribune-Review, 10/7/2011
Goodfriend: Companies, wealthy horde cash when tax increases loom
The prospect of higher taxes or a temporary boost in federal spending causes companies and wealthy people to horde cash, says Marvin Goodfriend, professor of economics; chairman, The Gailliot Center for Public Policy. Goodfriend says the U.S. needs to break that psychology to make job creation a reality. URL for this article: http://www.poten.com/NewsDetails.aspx?id=11697944

Wall Street Journal, 10/7/2011
Spatt recalls reputation of firm built on remnants of Madoff’s stock-trading division
Surge Trading Inc., built on the remnants of Bernard Madoff’s stock-trading division, has shut down. Chester Spatt, Pamela R. and Kenneth B. Dunn Professor of Finance; director, Center for Financial Markets, says the firm had the reputation as being a successful business. URL for this article: http://online.wsj.com/article/SB10001424052970203388804576617230200603402.html

Wall Street Journal, 10/10/2011
Spatt: High-frequency trading mirrors traditional trading in some ways
High-frequency trading often gets criticized for practices that are not really new, explains Chester Spatt, Pamela R. and Kenneth B. Dunn Professor of Finance; director, Center for Financial Markets. Spatt says there often was hidden liquidity on a traditional trading floor, with traders having orders they weren’t directly showing. URL for this article: http://online.wsj.com/article/SB10001424052970204226204576600980170960802.html

Financial Times, 10/10/2011
Goodfriend comments on contributions of Nobel Prizewinners
This year’s Nobel Prizewinners in economics took research on expectations to a new level, says Marvin Goodfriend, professor of economics; chairman, The Gailliot Center for Public Policy. Goodfriend says Thomas Sargent and Christopher Sims pioneered the empirical work on how to model expectations in a statistical and practical way. URL for this article: http://www.ftchinese.com/story/001041089/en

KUT-FM, 10/14/2011
Apt: Only conservation, not drilling alone, can make U.S. energy-independent
U.S. oil production has been declining since the 1970s, and even new drilling would only slow that decline, says Jay Apt, professor of technology and executive director of Carnegie Mellon Electricity Industry Center. Apt says the U.S. cannot become energy-independent unless it drastically cuts the amount of fuel it consumes. URL for this item: http://kut.org/2011/10/perry-plan-more-energy-means-more-jobs/

Bloomberg, 10/18/2011
Goodfriend: Fed intervention in private sector stirs up policymakers
In explaining politicians’ clashes over Federal Reserve Chairman Ben Bernanke’s policies, Marvin Goodfriend, professor of economics; chairman, The Gailliot Center for Public Policy, says the Fed has been tinkering with the private sector. Goodfriend points out that this practice creates conflict with fiscal policymakers. URL for this article: http://www.bloomberg.com/news/2011-10-18/undermining-bernanke-energizes-republican-candidates-joining-fed-insiders.html

Kansas City Star, 10/19/2011
Meltzer: Embrace exports, curb welfare state
America should embrace an export-driven economy and curb “the welfare state,” says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer spoke in Kansas City as he accepted the Truman Medal for Economic Policy. URL for this article: http://www.kansascity.com/2011/10/19/3217920/truman-medal-winner-calls-for.html

Lanka Business Online, 10/20/2011
McCallum: Growth targeting would be ‘significant shift’ for Feds
If the Federal Reserve adopts a specific growth target, it will be a very significant shift, says Bennett McCallum, H.J. Heinz Professor of Economics. McCallum says inflation targeting has been the most popular Fed strategy idea for about 20 years. URL for this article: http://www.lankabusinessonline.com/fullstory.php?nid=509687401

Star-Press, 10/20/2011
It’s possible to love work too much, Goodman says
It is possible to love one’s work too much, according to Paul Goodman, Richard M. Cyert Professorship; professor of organizational psychology; director, Institute for Strategic Development; Director, Center for the Management of Technology. Goodman says it’s a problem if work causes a person to neglect other parts of his or her life. URL for this article: http://www.thestarpress.com/article/20111021/LIFESTYLE/110210301/It-s-possible-love-your-work-little-too-much

Bloomberg BusinessWeek, 10/21/2011
Goodfriend: Proposal for Fed to resume purchase of mortgage-backed securities too risky
A proposal for the Federal Reserve to resume purchases of mortgage-backed securities to bolster economic growth could lead to inflation, says Marvin Goodfriend, professor of economics; chairman, The Gailliot Center for Public Policy. Goodfriend calls the idea “risky” and says it is “not advisable at this time.” URL for this article: http://www.businessweek.com/news/2011-10-21/goodfriend-says-buying-mortgage-securities-could-spark-inflation.html

Kansas City Star, 10/23/2011
Meltzer: No recession on horizon
A new recession is not on the horizon, according to Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer says more people now agree with that opinion. URL for this article: http://m2m.tmcnet.com/news/2011/10/23/5876894.htm

Bloomberg Radio, 10/24/2011
Goodfriend appears on Bloomberg Radio
Marvin Goodfriend, professor of economics; chairman, The Gailliot Center for Public Policy, appeared on Bloomberg Radio to discuss the possibility of a third period of quantitative easing by the Federal Reserve. He spoke with Kathleen Hays on "The Hays Advantage" program.

New York Times, 10/25/2011
Apt compares electricity produced by coal plants vs. solar panels
It’s possible to calculate the amount of electricity produced at a coal plant per employee, says Jay Apt, professor of technology and executive director of Carnegie Mellon Electricity Industry Center. He says the number per worker is about the same as would be produced over the course of a year by 20 megawatts of solar panels. URL for this article: http://www.nytimes.com/2011/10/26/business/energy-environment/in-terms-of-jobs-solar-energy-lacks-power.html?_r=2

Bloomberg Television, 10/27/2011
Goodfriend: Fed should hold off on aggressive monetary policy unless deflation a real threat
The Federal Reserve should only use aggressive monetary policy at the zero bound if deflation becomes a clear and present danger, argues Marvin Goodfriend, professor of economics; chairman, The Gailliot Center for Public Policy. Goodfriend made his argument in a meeting of the Shadow Open Market Committee, a group of independent economists who meet twice a year to evaluate the Fed’s policy choices. URL for this article: http://www.bloomberg.com/news/2011-10-27/fed-willing-to-gamble-on-short-run-trade-off-commentary-by-caroline-baum.html

Wall Street Journal, 10/28/2011
Concern over future tax rates is hurting confidence in economy, says Meltzer
Concern over future tax rates is one of the main reasons for heightened uncertainty and reduced confidence in the U.S. economy, says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer says permanent tax reduction generates more economic expansion than increased government spending of the same dollars. URL for this article: http://online.wsj.com/article/SB10001424052970204777904576651532721267002.html?KEYWORDS=%22Carnegie+Mellon%22

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