Senator Shelby, Ranking Republican of the Banking Committee, has sponsored The Financial Regulatory Responsibility Act, which seeks to restrict implementation of Dodd-Frank, and require benefit-cost analysis for financial regulation. To quote Sen. Shelby: “American job creators are under siege from the Dodd-Frank Act.” [1] Now, it’s clear that British authorities have primary responsibility for regulating Libor (after all, the “L” in Libor stands for “London”). But I think it’s useful to consider this question because clearly similar concerns will arise in markets in the US sometime in the future.
Author Archives: Menzie Chinn
High Inflation at the Gates?
The Federal Reserve needs to raise interest rates to stave off inflation, says Rep. Paul Ryan, R-Wis. “I’m worried they’re not going to pre-empt inflation,” the House Budget Committee Chairman tells CNBC.
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Whither China?
Recent economic reports from China are, at the least, mixed. The responses to Friday’s GDP report are illustrative.
May Temperatures, Economic Implications
With update (7/19) comparing global land/ocean temperature anomaly 2012 vs. 2010 and 2005
From NOAA:
The United States reported its warmest spring since records began in 1895,…
Data on Tax Rates, by Quintiles
Or, where have you gone, Todd Henderson?
The Fiscal Cliff, and the Enduring Legacy of EGTRRA/JGTRRA and a Certain Discretionary Spending Measure Starting in 2003
The CBO recently released a document that places our current policy dilemma in context (Changes in CBO’s Baseline Projections Since January 2001, June 7, 2012).
Emerging Reserve Currencies?
From the abstract to “A Note on Reserve Currencies
with Special Reference to the G-20 Countries”
It is most likely that the current reserve currencies will retain their status in the near future, given the persistence in the composition of reserve holdings.
Guest Contribution: The Fed Shirks Its Duties
Today we are fortunate to have a guest contribution written by Joseph E. Gagnon of the Peterson Institute of International Economics.
Guest Contribution: “Labor Shares and Corporate Savings”
In a Guest Contribution today, Loukas Karabarbounis and Brent Neiman (University of Chicago) discuss their recent research on “Declining Labor Shares and the Global Rise of Corporate Savings.”
Thirty Years Ago Today
A personal reflection on the hazards of nationalist approaches to economic policy discourse