In the News
Fed Discovers that, Yes, QE Impacts the Dollar by Steve Goldstein, Marketwatch Blog, Wall Street Journal April 1, 2013
This just in — the dollar reacts to Federal Reserve pronouncements. That’s according to a just published note from the San Francisco Fed. Researchers Reuven Glick and Sylvain Leduc plotted the relationship between quantitative easing policy surprises and the trade-weighted value of the U.S. dollar. They found that the greater the surprise, the more the dollar depreciates.
» Read more in "Unconventional Monetary Policy and the Dollar" Glick Leduc
Five Ways to Reform Social Security Disability Insurance by Dylan Matthews, Wonkblog, The Washington Post March 29, 2013
Chana Joffe-Walt's NPR segment on disability insurance has provoked considerable debate as to the program's health and how, if at all, it needs to be changed. So what reform proposals are on the table? In their book, The Declining Work and Welfare of People with Disabilities, Mary Daly and Richard Burkhauser would give employers with low rates of disability insurance use a tax break, and increase taxes on employers who send a lot of workers onto disability.
» Read more in "Evaluating Growth in the Supplemental Security Income Program for Disabled Children" Burkhauser Daly Lucking
and "Social Security Disability Insurance Growth: Looking Ahead"
and "Explaining the Rapid Growth in Social Security Disability Insurance Rolls"
Daly Lucking Schwabish
Is China Cooking Its Books? by Charles Riley, CNN Money March 26, 2013
Are China's economic statistics accurate? Pose this question to a group of China watchers and you're likely to receive a variety of responses. Now we have an opinion from researchers at the Federal Reserve Bank of San Francisco. Their verdict? The statistics are pretty good.
» Read more in "On the Reliability of Chinese Output Figures" Fernald Malkin Spiegel
Trends with Benefits by Chana Joffe-Walt, This American Life, National Public Radio March 22, 2013
The number of Americans receiving federal disability payments has nearly doubled over the last 15 years. There are towns and counties around the nation where almost 1/4 of adults are on disability. Planet Money's Chana Joffe-Walt spent 6 months exploring the disability program, including an interview with Mary Daly.
» Read more in "Explaining the Rapid Growth in Social Security Disability Insurance Rolls" Daly Lucking Schwabish