www.tipnews.info
August 30, 2014
Reinhilde Veugelers
Professor of Managerial Economics, Strategy and Innovation at the Katholieke Universiteit Leuven and CEPR Research Fellow
Trends in public R&I budgets in EU countries during the crisis The dangerous cocktail in many European countries of high debt and subdued growth calls for smart fiscal consolidation. Cost-cutting programmes should minimise the potentially negative short-term effect on economic activity, while establishing a foundation for long-term growth, with growth-enh...
Masayuki Morikawa
Vice President, Research Institute of Economy, Trade and Industry (RIETI)
The role of headquarters Headquarters – the core service sector inside companies – conduct a wide range of highly strategic activities, including: The choice of business areas, The decision to introduce new products and services, The adoption of investment projects, Human resources management, and Financial management.
Nicholas Crafts
Professor of Economics and Economic History at the University of Warwick and CEPR
World War I was not over by Christmas of 1914. It was a prolonged, brutal, and expensive conflict.  Britain incurred 715,000 military deaths (with more than twice that number wounded), the destruction of 3.6% of its human capital, 10% of its domestic and 24% of its overseas assets, and spent well over 25% of its GDP on the war effort between 1915 and 1918 (Broadberry and Harris...
Yoshiyuki Arata
PhD Candidate in Economics, University of Tokyo
How a firm grows is one of the important themes in the industrial organisation literature and has been discussed extensively. An influential paper is the seminal work by Gibrat (1931), which continues to receive much attention in the theoretical and empirical literature (for a review, see Sutton 1997). If the growth rate of a firm is defined as the difference in the logarithm o...
FactCheck.org
A Project of the Annenberg Public Policy Center of the University of Pennsylvania.
A super PAC formed by the father of Rep. Ted Yoho’s primary challenger claims Yoho is “first in line” at “feeding at the special interest trough,” but offers up two misleading examples: The ad accuses Yoho of taking “a nearly $20,000 junket paid for by a special interest group.” But the ad doesn’t mention that the “junket” was a trip to Israel or that Yoho is a memb...
Prat Prat
Richard Paul Richman Professor of Business and Professor of Economics, Columbia University; and CEPR Research Fellow
The media industry is different The media industry is undergoing a consolidation process. After the proposed merger between Comcast and Time Warner Cable, Rupert Murdoch’s Century Fox reportedly offered to buy Time Warner. The offer was rejected, but the prospect of a merger between two media groups of such size has reignited a public debate on the dangers of excessiv...
Stephen L. Ross
Professor in the Department of Economics, University of Connecticut
The foreclosure crisis and the growth of subprime lending that preceded the crisis have disproportionately affected low income and minority neighbourhoods (Geradi and Willen 2009, Fisher et al. 2010, Mayer and Pence 2007, Edminston 2009) and have had significant negative consequences for minority homeownership (Geradi and Willen 2009). Some papers have suggested that s...
Jeffrey Frankel
Professor of Economics, Harvard Kennedy School
Pranjul Bhandari
Mason Fellow, Harvard Kennedy School
Central banks still seek transparent and credible communication. But signalling intentions, through forward guidance or some degree of commitment to an intermediate target, poses a difficult tradeoff. The advantages of transparency and credibility versus the disadvantages of waking up one day to find that unexpected developments have turned past statements into unwanted constra...
Kjell G. Salvanes
Professor at the Department of Economics, Norwegian School of Economics and Business Administration
What is the effect of stress while pregnant on the health of the baby? This is a question faced by all women – both in developed and developing countries. Indeed, in developed countries, stress may be more prevalent than many physical stressors such as nutritional deficiencies. Despite the pervasiveness of stress in modern society, particularly during pregnancy, we have a very ...
Chie Aoyagi
Economist in the Regional Office for Asia and the Pacific, IMF
Cash holdings by Japanese companies are very high compared to other G7 countries. As it can be seen in Figure 1, the average ratio of cash and cash equivalent holdings to market capitalisation of Japanese listed companies during 2004-2012 was above 40%, compared to values in the 15-27% range in other G7 countries. Such high cash holdings coexist with a negative contribution of ...
Ejaz Ghani
Economic Advisor at the World Bank
The literature on global growth convergence and divergence is vast and deep. And it is still evolving. Some have argued that global growth is actually diverging across countries. Pritchett (1977) called this “divergence, big time”, whereby the living standards of a few countries pulled away from the rest in the aftermath of the industrial revolution. Others have found evidence ...
FactCheck.org
A Project of the Annenberg Public Policy Center of the University of Pennsylvania.
A Florida ad attacking Republican Gov. Rick Scott has touched off claims of lying and illegality. We find both sides are bending the facts. An ad from billionaire climate-change activist Tom Steyer’s group claims that Scott got $200,000 from “the company that profited off pollution” while drilling for oil near the Everglades. Actually, no pollution has been document...
Richard Baldwin
Professor of International Economics, Graduate Institute, Geneva; CEPR Policy Director, and VoxEU.org Editor-in-Chief
Coen Teulings
Professor of Economics, University of Cambridge; and CEPR Research Fellow
Economic growth is still anaemic despite years of zero interest rates. Is ‘secular stagnation’ to blame? What does secular stagnation really mean? And if it’s for real, what must be done? Today, VoxEU.org launches an eBook that gathers the views of leading economists including Summers, Krugman, Gordon, Blanchard, Koo, Eichengreen, Caballero, Glaeser and...
Raphael Boleslavsky
Assistant Professor of Economics, University of Miami
Christopher Cotton
Jarislowsky-Deutsch Chair in Economic and Financial Policy and Associate Professor, Queen's University
Since the early 1980s, the mean grade point average at American colleges and universities has risen at a rate of between 0.1 and 0.15 points per decade. Most of this increase can be attributed to an increase in the share of As assigned (which now comprise nearly half of all grades), with significant drops in the assignment of lower grades (Rojstaczer 2011 and Rojstaczer and Hea...
Joseph E. Aldy
Assistant Professor of Public Policy, Harvard Kennedy School; Visiting Fellow, Resources for the Future
From purchasing safe automobiles to taking vitamins and exercising at the gym, every day individuals make decisions that reveal their willingness to pay to reduce mortality risk. Government agencies implement a variety of measures – from regulating air pollution, to improving food safety, to vaccination programmes -- that reduce mortality risk. Increasing longevity yields large...
Jennifer L. Castle
Research Fellow at the Institute for New Economic Thinking at the Oxford Martin School, Oxford University
David F. Hendry
Director, Program in Economic Modeling, Institute for New Economic Thinking at the Oxford Martin School; Professor of Economics and Fellow of Nuffield College, Oxford University
While ‘fool’s gold’ (iron pyrites) can be found by mining, most mining is a productive activity. Similarly, when properly conducted, so-called ‘data mining’ is no exception –despite many claims to the contrary. Early criticisms, such as the review of Tinbergen (1940) by Friedman (1940) for selecting his equations “because they yield high coefficients of correlation”, a...
Edoardo Campanella
Fulbright Scholar, Harvard Kennedy School
Throughout the course of history, there are few regions in the world whose map has changed as frequently and abruptly as that of Europe. Nowadays, political forces – less violent and bloody than in the past, but equally destructive – are slowly and imperceptibly eroding the borders of several countries. Tensions within states – not enmities among competing powers – are remodell...
Jeffrey Frankel
Professor of Economics, Harvard Kennedy School
Italians and the world have now been told that their economy slipped back into recession in the first half of 2014. This characterisation is based on the criterion for recession that is standard in Europe and most countries – two successive quarters of negative growth. But this is not the only way to identify recessions. If the criteria for determining recessions in...
FactCheck.org
A Project of the Annenberg Public Policy Center of the University of Pennsylvania.
An ad from Republican Rep. Tom Cotton cherry-picks a quote and several votes to distort Sen. Mark Pryor’s position on border security. The ad says Pryor, a longtime supporter of increasing and improving fencing along the southwest border with Mexico, cast three votes “against a border fence.” But that ignores Pryor’s votes for border fencing. It ...
Ricardo Reis
Professor of Economics, Columbia University; Research Affiliate, CEPR
Should the US Federal Reserve raise the inflation target from its current level of 2%? And will it? One benefit would be to make hitting the zero lower bound less likely, which would lead to less severe recessions, as Olivier Blanchard, Giovanni Dell’Ariccia, and Paolo Mauro (2010), Daniel Leigh (2010), and Laurence Ball (2013) have argued on this website. Other benefits of hig...
Colin Ellis
Head of Analytics for the Financial Institutions Group, Moody's Investors Service; Visiting Research Fellow, University of Birmingham
Haroon Mumtaz
Professor of Economics, Queen Mary University of London
Pawel Zabczyk
Adviser at the Centre for Central Banking Studies, Bank of England; Associate, Centre for Macroeconomics
Over the past five decades, major industrialised economies underwent deep structural changes. These typically included dramatic shifts in macroeconomic policy and globalisation-induced changes in competition, technological advances, and financial innovation. This raises several concerns for policymakers, including whether the channels through which monetary policy affects the e...
Pradumna B. Rana
Associate Professor at the S, Rajaratnam School of International Studies, Nanyang Technological University, Singapore
The Bretton Woods agreement – which is 70 years old this month – established three institutions to promote law and order in international economic relations: The IMF to promote macroeconomic stability, The GATT (and its successor, the WTO) to ensure an open trading environment, and The World Bank to provide development finance for poverty reduc...
Patricia Clavin
Fellow and Tutor in History, Professor of International History, Jesus College Oxford.
It is common to identify the origins of global economic and financial organizations in the period following the Second World War – notably at the Bretton Woods Conference of 1944. In fact, many of the ideas, people, and practices that informed the work of the International Monetary Fund, the World Bank, the UN Food and Agriculture Organization, and the European Economic Communi...
FactCheck.org
A Project of the Annenberg Public Policy Center of the University of Pennsylvania.
A veterans advocacy group is making false and potentially misleading claims in a TV ad attacking U.S. Senate candidate Bruce Braley on his commitment to military veterans. The ad falsely claims that Braley “skipped an important VA reform hearing to attend three fundraisers.” None of the fundraisers was scheduled at the same time as the congressional hearing...
Graham Loomes
Professor of Behavioural Science at Warwick Business School, University of Warwick
Ganna Pogrebna
University of Warwick
There are three common ways of measuring individual risk attitudes: the choice list procedure, the ranking procedure, and the allocation procedure. If individual risk attitudes can be used to help explain and predict other economic decisions (such as the choice of investments, insurance policies, pension schemes, etc.) we should expect that different procedures should at least ...
More Posts
Appeals court ups stakes in Oracle-SAP copyright fightThe Oracle headquarters on June 19, 2014 in Redwood Shores, California
A US appeals court on Friday ruled that Oracle be given a choice between $356.7 million or a new trial for its copyright lawsuit a...
UN watchdog tells US to curb police racismLaw enforcement officers watch on during a protest on West Florissant Avenue in Ferguson, Missouri on August 18, 2014
The United States must stem police racism and brutality, a UN watchdog said Friday, as debate rages over the shooting of unarmed b...
US says no plan to raise terror alert level after British move An image made available by Jihadist media outlet Welayat Raqa on July 25, 2014, shows allegedly shows members of the Islamic state militant group raising their black and white flag over a building belonging to the Syrian army in Raqa
The White House said Friday it has no plans to raise terror alert levels in the United States, despite Britain's decision to raise...
Hillary Clinton on Ferguson: 'We can do better'Former US Secretary of State Hillary Clinton pictured during a presentation of her new book at Schiller theatre in Berlin, Germany on July 6, 2014
Hillary Clinton, a potential 2016 US presidential candidate, has weighed in for the first time on the police shooting of an unarme...
US stocks head higher, brushing off Ukraine tensionsThe New York Stock Exchange stands on Wall Street on August 27, 2013 in New York City
US stocks opened slightly higher Friday, despite an escalation in Ukraine tensions and a disappointing report on consumer spending...
US personal spending falls in JulyMay 9, 2014 photo shows children's shirts at a Walmart store in Mountain View, California
US personal spending fell in July, putting a drag on third-quarter growth, as income gains slowed, government data released Friday...
IS 'waterboarded' Syria captives: reportIn this file photo, protesters are seen performing a mock waterboarding in Times Square, New York, on January 11, 2008
At least four Western hostages held by the Islamic State in Syria, including murdered American journalist James Foley, were waterb...
Google tests using drones to deliver goodsA person prepares to search the internet using the Google search engine, on May 14, 2014, in Lille
Google on Thursday said it is testing using drones to deliver items bought online, putting its own spin on similar efforts by Inte...
IMF: to fight poverty, US should hike minimum wagePeople collect food on February 18, 2014 in the Brooklyn borough of New York
The International Monetary Fund on Thursday urged the US to boost incomes for the poor, including raising the minimum wage, saying...
Panasonic, Tata join hands in water treatment: reportPanasonic will develop a water purification system together with India's Tata Group, report says
Japan's Panasonic will develop a water purification system together with India's Tata Group, tapping into a fast-growing market in...
Brazil falls into recession as election loomsPicture of the Brazilian Central Bank building in Brasilia, taken on May 29, 2012
Brazil, Latin America's largest economy, has slid into recession, further weakening President Dilma Rousseff, who faces an increas...
Tablet sales slow as PCs find footingStudents use tablets at a school in Paris on December 3, 2012
Tablets won't eclipse personal computers as fast as once thought, according to studies by market tracker International Data Corpor...
Russian gas cut to Ukraine unlikely to hurt Europe: analystsA Russian gas power plant is pictured in the Russian Black Sea resort of Sochi on November 30, 2013
Moscow's latest warning that Europe could run short of Russian gas this winter lacks credibility, analysts say, as the prospect of...
IMF board expresses confidence in Lagarde IMF chief Christine Lagarde poses on the sideline of a press conference, on August 27, 2014 at her lawyer's office in Paris
The board of the International Monetary Fund reiterated its support for Managing Director Christine Lagarde Friday, after a French...
IMF approves $1.4 billion aid payment for Ukraine A villager walks by a unexploded rocket that landed on her backyard in Troitsko-Khartsyzk on August 28, 2014
The International Monetary Fund approved Friday the release of nearly $1.4 billion in fresh funds for troubled Ukraine, but warned...
Russia closes 12 McDonald's branches, inspects 100A man reads a book as he sits at a table of a closed McDonald's restaurant in Moscow on August 21, 2014
Russia has temporarily closed 12 branches of McDonald's on health grounds and is carrying out more than 100 inspections, the US fa...
European stocks end week up as Ukraine tension mountsA man walks past the London Stock Exchange, in central London, on September 22, 2011
European stocks ended the week higher on Friday, shrugging off the impact of simmering Ukraine tensions and a profits warning from...
Russia warns of high risk to winter gas deliveries to Europe A picture shows a pressure gauge at a compressor station of Ukraine's Naftogaz national oil and gas company near the northeastern Ukrainian city of Kharkiv on August 5, 2014
Russia's energy minister Alexander Novak warned Friday of a high risk of disruptions to Russian gas supplies to Europe this winter...
India's economy grows 5.7% in Q1, best in two years An Indian employee walks into the Reserve Bank of India (RBI) headquarters in Mumbai on January 29, 2013
India said Friday its economy grew by 5.7 percent in the first financial quarter, its fastest pace in over two years, as the elect...
Shell files new plan to drill in ArcticThis undated handout photo courtesy of NASA shows a sunset over the Arctic
Royal Dutch Shell has submitted a new plan for drilling in the Arctic offshore Alaska, more than one year after halting its progra...
Ruble falls to record dollar low, stocks tumbleA view of a board listing foreign currency rates against the Russian ruble just outside an exchange office in central Moscow on March 3, 2014
The ruble slumped Friday to a record dollar low and stocks tumbled on investor fears of tighter Western sanctions towards Russia, ...
UK supermarket giant Tesco rocked by new crisisA Tesco supermarket pictured in south London on October 2, 2013
British supermarket giant Tesco plunged deeper into crisis on Friday after issuing yet another profits warning, cutting both its d...
Iraq launches drive to break jihadist siege of AmerliPeshmerga fighters' miltary vehicles are positioned at their post in the strategic Jalawla area, in Diyala province, which is a gateway to Baghdad, on August 25, 2014
Iraq launched a major operation on Saturday to liberate a jihadist-besieged town, as US Secretary of State John Kerry called for a...
Pakistan PM dismisses political crisis as 'tiny storm'A Pakistani youth holds up a placard as supporters of opposition politician Imran Khan participate in an anti-government protest in front of the Parliament in Islamabad on August 28, 2014
Pakistan's Prime Minister Nawaz Sharif on Saturday dismissed a political crisis triggered by protests aimed at unseating his gover...
Fate of UN peacekeepers in Syrian Golan unclear Members of the United Nations Disengagement Observer Force (UNDOF) drive their armoured vehicles in the Israeli-annexed Golan Heights near the Quneitra crossing, the only border crossing between Israel and Syria, on August 30, 2014
UN peacekeepers caught up in heavy fighting on the Golan Heights were evacuated Saturday as the fate of more than 110 of their col...
Race to find five miners still missing in Nicaragua cave-inRelatives, friends and fellow miners wait as rescuers try to reach a group of miners trapped in a gold mine in the community of El Comal, near Bonanza in northeastern Nicaragua, on August 29, 2014
Rescuers in Nicaragua raced against the clock Saturday to locate five people still missing two days after a cave-in at an unlicens...
Ecuador women turn to boxing to fight sexual violenceAny Hurtado (L) takes a part in boxing training in a gym in downtown Quito on August 18, 2014
After surviving a harrowing rape attempt, Any Hurtado took up boxing -- and found herself surrounded by other Ecuadoran women usin...
Lesotho PM claims coup, flees to South Africa
Lesotho Prime Minister Tom Thabane claimed Saturday he fled in fear of his life after soldiers seized power in a coup, despite the...
Russian train-surfers, extreme sport or social problem?A man stands outside a local train end on July 25, 2014 near the Losinoostrovskaya station in a suburb of Moscow
Since he was 10, Sasha has taken the train everyday between Moscow and his home in the suburbs. Only instead of sitting inside wit...
Troops 'liberate' Islamist stronghold in Somalia offensiveFile picture shows Somali soldiers on patrol in the Wadajir district south of capital Mogadishu on August 15, 2014
African Union forces claimed to have liberated a former Shebab stronghold in Somalia on Saturday as part of a joint offensive with...
Taken boy with brain tumour could be in Spain: policeImage released by Hampshire Constabulary on August 29, 2014 shows five-year-old boy Ashya King
A five-year-old British boy with a brain tumour who was taken from hospital by his parents without doctors' consent could now be i...
Filipino UN peacekeepers in Golan clash with Syrian rebels: govt
Philippine UN peacekeepers in the Golan Heights clashed with Syrian rebels Saturday, Defence Minister Voltaire Gazmin said in Mani...
Lesotho military seize police HQ in 'coup' attempt
Lesotho's military seized control of police headquarters in the tiny African kingdom in the early hours of Saturday, a government ...
EU leaders seek riposte to RussiaA Ukrainian serviceman sits on a tank while speaking on the phone inside a military camp in the Donetsk region, on August 29, 2014
European Union leaders gather in Brussels Saturday to thrash out a response to Russia's deeper involvement in war-torn Ukraine and...
Somalia sentences Islamist killers of journalist to deathRelatives and fellow journalists carry the body of Somali journalist Mohamed Mohamud Timacade, on October 27, 2013, during his funeral in the capital Mogadishu after he succumbed to bullet injuries at a hospital
A military court in Somalia has sentenced two Islamist Shebab gunmen to death for killing a journalist, the information minister s...
Ebola hits fifth W. African state as Senegal confirms first case
The Ebola epidemic that has killed more than 1,500 people across West Africa spread to a fifth country in the region on Friday wit...
India spin to win against EnglandFile picture shows India captain MS Dhoni during the second one-day international against England in Cardiff, Wales on August 27, 2014
India's spinners again proved England's undoing as the tourists won the third one-day international at Trent Bridge on Saturday by...
Wimbledon champion Kvitova joins ranks of US Open fallenAleksandra Krunic of Serbia returns a shot against Petra Kvitova of the Czech Republic during their women's singles third round match at the 2014 US Open on August 30, 2014 in New York
Wimbledon champion Petra Kvitova became the fifth top 10 seed to exit the US Open in the first week Saturday when she was knocked ...
Stoke stun Man City, Burnley hold Man UnitedStoke City's Senegalese forward Mame Biram Diouf, who scored Stoke City's winning goal, reacts at the final whistle during the English Premier League football match between Manchester City and Stoke City at the Etihad Stadium on August 30, 2014
Stoke City condemned defending champions Manchester City to their first defeat of the Premier League season with a shock 1-0 win a...
Belgian cycling champion takes own life - pressBelgian cycling star Igor Decraene on September 24, 2013 on the podium after winning the men's juniors time trial race at the World Cycling championships in Florence
Belgium world junior cycling champion Igor Decraene was found dead on Saturday after taking his own life at the age of just 18, lo...
Man United reach agreement to sign BlindNetherlands defender Daley Blind celebrates after scoring against Brazil during the World Cup third place play-off at the National Stadium in Brasilia on July 12, 2014
Manchester United announced on Saturday that they have reached an agreement to sign versatile Netherlands international Daley Blin...
Bouhanni wins Vuelta 8th stage, Valverde retains leadFDJ.fr's French cyclist Nacer Bouhanni celebrates as he crosses the finish line to win the 8th stage of the 69th edition of La Vuelta Tour of Spain on August 30, 2014
France's Nacer Bouhanni won his second stage of the Vuelta a Espana in controversial circumstances as he edged out Australia's Mic...
New racism row flares in Brazilian footballFile picture shows Aranha (2L), goalkeeper with Brazilian club Santos FC, being welcomed by fans at Central Japan International Airport in Tokoname, Aichi prefecture on December 8, 2011 before the FIFA Club World Cup
Brazilian top flight outfit Gremio say they are committed to weeding out racist behavior by fans after identifying a group who hea...
Marquez takes pole for British MotoGPRepsol Honda's Spanish rider Marc Marquez acknowledges the crowd at the end of the qualifying session for the British MotoGP at Silverstone in Northamptonshire, central England, on August 30, 2014
Runaway world championship leader Marc Marquez secured his 10th pole position out of a possible 12 this season on Saturday as he r...
Monaco leave out unsettled Falcao for Lille clashMonaco's Colombian forward Radamel Falcao pictured during the French Ligue 1 match against Nantes at the Beaujoire stadium in Nantes, western France on August 24, 2014
Radamel Falcao was dropped at the last minute from Monaco's matchday squad for Saturday's Ligue 1 clash with Lille amid mounting s...
Di Maria shines but Burnley frustrate UnitedManchester United's Argentinian midfielder Angel di Maria (top) is tackled by Burnley's English midfielder Dean Marney during the English Premier League match at Turf Moor in Burnley, north-west England on August 30, 2014
Louis van Gaal was left searching for his first competitive win as Manchester United manager after a 0-0 draw at newly-promoted Bu...
Japan ex-wrestler wages 'sports diplomacy' in N. KoreaJapanese wrestler-turned-politician Kanji Antonio Inoki (C, red scarf) and professional wrestlers at a press conference in Pyongyang to promote the Pyongyang International Pro-Wrestling Contest on August 28, 2014
Flamboyant Japanese wrestler-turned-politician Kanji "Antonio" Inoki kicked off his brand of sports diplomacy in North Korea Satur...
Ronaldo out of Madrid trip to SociedadReal Madrid forward Cristiano Ronaldo pictured during the UEFA Super Cup match against Sevilla at Cardiff City Stadium, in Cardiff, Wales on August 12, 2014
World Player of the Year Cristiano Ronaldo has not been included in Real Madrid coach Carlo Ancelotti's squad for their trip to Re...
Barca welcome back Neymar, lose IniestaBarcelona forward Neymar (L) pictured just before scoring past Leon's goalkeeper William Yarbrough during the 49th Joan Gamper Trophy match at the Camp Nou stadium in Barcelona on August 18, 2014
Brazilian star Neymar will make his first appearance of the season when Barcelona travel to face Villarreal on Sunday, but the Cat...