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Archives for: May 2010


Pittsburgh Tribune-Review, 5/9/2010
Greece could be a bellwether for U.S., says Goodfriend
The U.S. should recognize that the economic problems faced by Greece ó and Europe more generally ó could happen here, says Marvin Goodfriend, professor of economics; director, The Gailliot Center for Public Policy. Goodfriend says thatís because governments have assumed the credit risk of the private sector. URL for this article: http://www.pittsburghlive.com/x/pittsburghtrib/business/s_680260.html

Securities Regulation and Law Report, 5/10/2010
Spatt: Understand the causes of Dow plunge before taking action
Before calling for action to address the recent stock market plunge, itís important to determine what really happened, says Chester Spatt, Pamela R. and Kenneth B. Dunn Professor of Finance; director, Center for Financial Markets. Spatt says the drop could be a mini version of the 1987 plunge or the consequence of a massive snafu, but itís too early to tell. No URL is available for this article.

Bloomberg BusinessWeek, 5/12/2010
Greece will default on debt, predicts Meltzer
Greece is a ďbasket caseĒ that will default on its debt, according to Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer wrote a congressional report in 2000 on the International Monetary Fundís role as a lender of last resort to governments since 1945. URL for this article: http://www.businessweek.com/news/2010-05-12/strauss-kahn-s-greek-aid-plan-is-mission-improbable-for-imf.html

MarketWatch, 5/12/2010
Goodfriend: Fed should consider quick sales of mortgage-backed securities
Quick sales of mortgage-backed securities is probably a good idea for the Federal Reserve, says Marvin Goodfriend, professor of economics; director, The Gailliot Center for Public Policy. Goodfriend says the sales might help soothe market fears that the Fed lacks the independence to move quickly enough to ward off inflation. URL for this article: http://www.menafn.com/qn_news_story.asp?StoryId={C9B9719D-F5FA-4BDB-A641-C0382C8F2C71}

Pittsburgh Tribune-Review, 5/13/2010
Obama likely to seek value-added tax at end of 2010, says Meltzer
Sometime after the November election, the Obama administration will likely seek a value-added tax, with some exemptions for lower incomes, says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. If that fails, Meltzer says Congress will have to decide on spending cuts and tax increases. URL for this article: http://www.pittsburghlive.com/x/pittsburghtrib/news/s_680882.html

U.S. News & World Report, 5/14/2010
Tepper School researchers explore gender role in earnings and promotions
When comparing gender gaps in pay and promotions, researchers must be careful not to compare apples and oranges, say researchers from the Tepper School. Among executives of the same rank and background, women earn more than men and are promoted just as quickly, according to a paper by Robert Miller, professor of economics and strategy; Limor Golan, associate professor of economics; and George-Levi Gayle, assistant professor of economics and strategy. URL for this article: http://www.usnews.com/money/careers/articles/2010/05/14/why-some-women-skirt-the-wage-gap.html

BBC, 5/18/2010
Report: Twitter rivals polls for gauging public opinion
A new report out of Carnegie Mellon University shows that sentiments expressed on Twitter strongly correlate with the results of well-established public opinion polls. Bryan Routledge, associate professor of finance, was part of the team that analyzed 1 billion Twitter messages posted in 2008 and 2009 and compared them against poll data. URL for this podcast: http://www.bbc.co.uk/podcasts/series/pods

Associated Press, 5/18/2010
Spatt: German ban on short-selling will likely misfire
A German ban on naked short-selling of eurozone government debt and shares of major financial companies will likely misfire, according to Chester Spatt, Pamela R. and Kenneth B. Dunn Professor of Finance; director, Center for Financial Markets. Spatt says a similar ban during the U.S. financial crisis proved counterproductive and did nothing to stabilize asset prices. URL for this article: http://customwire.ap.org/dynamic/stories/E/EU_GERMANY_SHORT_SELLING_BAN?SITE=NDBIS&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2010-05-18-18-16-50

Bloomberg, 5/18/2010
Goodfriend: Debate necessary to head off future financial crises
A proposed resolution by Congress opposing U.S. involvement in International Monetary Fund bailouts of European Union countries that don't comply with the bloc's debt and deficit limits helps underscore the need for fiscal discipline, says Marvin Goodfriend, professor of economics; director, The Gailliot Center for Public Policy. Goodfriend says a debate would help set up institutions to head off crises before they happen. URL for this article: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2010/05/18/bloomberg1376-L2N2NH0UQVI9-4.DTL

Bloomberg, 5/20/2010
Loss of Fedís independence could mean higher inflation, Meltzer says
The Federal Reserve is drifting far from the model of the independent central bank, says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer says the end result will be much higher inflation. URL for this article: http://www.bloomberg.com/apps/news?pid=20601110&sid=a2tSIjPmkQBM

Bloomberg, 5/20/2010
Meltzer: Fed could have intervened
The Federal Reserve had plenty of observers at New York banks and at Bank of America who knew those banks were circumventing capital-adequacy requirements, says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer says the Fed did not need explicit legal authority to step in, because banks do not want to have bad relations with their regulators. URL for this article: http://www.bloomberg.com/apps/news?pid=20601039&sid=aoxAUGxHWLCY

Wall Street Journal , 5/21/2010
Meltzer: Greece should return to a private-sector economy
Greece would have a better chance of economic recovery if the socialist government returned more of the economy to the private sector, says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer says selling most of Greeceís industry and commerce would allow the proceeds to reduce public debt. URL for this article: http://online.wsj.com/article/SB10001424052748703745904575248293367763022.html

Bloomberg BusinessWeek, 5/24/2010
Dammon: Top schools attract students likely to become top earners
Top business schools attract students who are likely to win high-paying jobs, says Robert Dammon, professor of financial economics and associate dean for education. Dammon calls the phenomenon the trickle-down effect. http://www.businessweek.com/bschools/content/may2010/bs20100521_243715.htm

Fortune, 5/25/2010
Meltzer: Rates, inflation about to start climbing
The Federal Reserve has stuffed banks with $1 trillion in reserves, says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer says when banks start lending again, inflation and rates will quickly rise. URL for this article: http://money.cnn.com/2010/05/24/markets/bonds_bubble.fortune/

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