News
WSJ | Companies Shun Investment, Hoard Cash
Corporations have a higher share of cash on their balance sheets than at any time in nearly half a century, as businesses build up buffers rather than invest in new plants or hiring.
Market Watch | Household debt declines for 12th straight quarter
Household debt dropped for the 12th consecutive quarter, according to second-quarter data released by the Federal Reserve on Friday that shows the continued drag from the bursting of the housing bubble.
CNN: Money | The newest threat to home prices
Barring last-minute action by Congress, upscale housing is about to take another punch to the solar plexus -- just as it's struggling to stabilize.
Politico | Government handcuffs innovation
Yet while America’s high-tech businesses like IBM, Google, eBay and Amazon have led the world in innovation, the federal government has lagged far behind and shackled the industry with an outdated tax system and policies on trade, patents and Internet regulation that do not suit a fast-changing business environment. Increasingly, it’s become clear that Washington continues to pursue VHS policies in a Blu-ray world.
Econ Comments
AEI | Pipeline a Boon for US Jobs, Security
If America is to have a reliable and affordable supply of oil in the future, we will need Canada's oil sands.
Washington Times | GHEI: Greece’s inevitable fall
Out-of-control spending likely to spark financial chaos in eurozone.
Washington Times | DRIESSEN: Welcome victory in long regulatory war
EPA withdrew its job-killing ozone standards but prepares for the next assault.
Washington Post | Stuck in the Great Recession’s pessimism trap
Even for millions of Americans with jobs, there’s a palpable sense of loss and anxiety. One reason is the devastating housing slump, subtracting huge amounts from people’s wealth.
Washington Times | JAFFE: Counterproductive craziness at federal agency
$3 billion a year is spent making it harder to treat serious mental illness.
Blogs
Calculated Risk | Unofficial Problem Bank list declines to 984 Institutions
re is the unofficial problem bank list for Sept 16, 2011.
WSJ: Real Time Economics | Number of the Week: Big Cuts in Manufacturing Capacity
Manufacturing capacity — how much the nation’s factories can put out at full tilt — is way down since the recession began.
Calculated Risk | Schedule for Week of Sept 18th
Three key housing reports will be released this week: September homebuilder confidence on Monday, August housing starts on Tuesday, and August existing home sales on Wednesday.
Reports
NBER | Nonparametric Evidence on the Effects of Financial Incentives on Retirement Decisions
This paper presents new empirical evidence on the effects of retirement benefits on labor force participation decisions. We use administrative data on the census of private sector employees in Austria and variation from mandated discontinuous changes in retirement benefits from the Austrian pension system. We present graphical evidence documenting labor supply responses to the policy discontinuities.
Weekly Economic & Financial Commentary | Retail Sales Flat, Manufacturing Back?
Retail sales posted a disappointing flat reading for the month of August, with weaker-than-expected sales figures for several categories, including clothing and autos.
