An article written by Robert J. Shiller, the Arthur M. Okun Professor of Economics, was recently named one of the “top 20” articles in the 100-year history of the American Economic Review (AER), the premier journal in the field of economics.
“Do Stock Prices Move Too Much to Be Justified by Subsequent Changes in Dividends?” was published in the June 1981 edition of the AER and became a focal point of debate and research over the question of whether changes in stock market prices are driven by rational expectations — what’s called the efficient markets hypothesis — or by other forces. (more…)
Have you been unemployed lately? If so, then you probably know how frustrating it is to try to find a job in the United States today. It now takes the average unemployed worker about 33 weeks to find a job. There are millions of Americans that have not been able to find a full-time job even after searching hard for an entire year. Some areas of the United States have been devastated so badly by the economic downturn that they are starting to resemble war zones.
Unless you have been there, it is hard to even try to describe the extreme frustration that one feels when you are unable to pay the mortgage and feed your family. It can be absolutely soul-crushing. But it is not the fault of those who are unemployed. The truth is that our economy is dying and it is not producing nearly enough jobs anymore. Unfortunately, as you will see from the facts listed below, most of the things that are causing our economy to die have no realistic chance of being changed any time soon.
The following are 10 reasons why it has become so insanely difficult to find a job in America today…. (more…)
COLUMBUS, Ohio – Government regulators could more realistically assess the value of improving food safety if they considered the fact that consumers typically want to avoid getting sick – even if it means they have to pay a little extra for safer food, researchers say.
In the world of food regulation, cost-benefit analyses are a primary tool for assessing the societal benefits of mandating more stringent – and more expensive – processing practices. In most cases, regulators determine a dollar value associated with pursuing new rules by estimating how many illnesses and deaths the safer processing would prevent. (more…)
In 2010, China mined the record amount of gold in the world. The production volume of nonferrous metals in China amounted to 340.88 tons, which is 8.57% higher than a year earlier, and continues to grow. In recent years, China has consistently increased the amount of its gold reserves. Nevertheless, experts believe that China has a long way to go to reach the level of the world leading economies.
According to the China Gold Association, in 2007 China ranked first in terms of gold mining. It outran South Africa and is holding this position to this day. Starting 2004, the volume of production of the precious metal in China has been steadily growing. In 2009 it amounted to 313.98 tons. The volume of the gold imported by China within ten months of 2010 amounted to 209.72 tons, which is six times more than the year before, Rosbalt reported. (more…)
EAST LANSING, Mich. — When it comes to economic development in American cities, the trusted old theory “If you build it, they will come” may not work, a Michigan State University sociologist argues in a new study.
Conventional wisdom holds that job growth attracts people to urban areas. (more…)
ANN ARBOR, Mich.— Organizational efforts to create and maintain an inclusive multicultural environment often face resistance by whites, says a University of Michigan researcher.
“Without the support of whites, organizations and educational settings will fail in their attempts to navigate and manage the complexities of diverse work forces and constituencies,” said Jeffrey Sanchez-Burks, an associate professor of management and organizations at Michigan’s Ross School of Business. “In the face of the dramatic projected growth in demographic diversity, such failure could have severe economic, social and political consequences. (more…)
COLUMBUS, Ohio – While the nation’s foreclosure crisis has focused blame on bad loan practices by some lenders, new research shows how some banks may have actually reduced the default risk of their homebuyers.(more…)
ANN ARBOR, Mich.—Default risk on home loans fell once again this quarter to its lowest level in more than five years, says a professor at the University of Michigan’s Ross School of Business.
Dennis Capozza, professor of finance and real estate and the Dykema Professor of Business Administration, says that under current economic conditions, investors and lenders should expect defaults on loans currently being originated to be just slightly higher than mortgage defaults in early 2005. (more…)