A few years ago, the economists Alicia Sasser Modestino and Justin Wolfers sat at the back of a professional conference and watched Rebecca Diamond, a rising star in their field, present her latest research on inequality. Or at least she was meant to present it — moments after she began her talk, the audience began peppering her with questions.
"She must have gotten 15 questions in the first five minutes, including, 'Are you going to show us the data?'" Dr. Modestino recalled. It was an odd, even demeaning question — the session was in the data-heavy field of applied microeconomics. Of course she was going to show her data.
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UnTethered - Tether is fined by regulators in New York | Finance & economics | The Economist
IS THAT HISSING noise the sound of air coming out of the crypto-bubble? On February 21st bitcoin hit a new high of more than $58,000, after a host of big firms and investors, led by Tesla, signalled that they were beginning to take the cryptocurrency more seriously as an asset class and a means of exchange. By February 23rd, though, the price had tumbled by over a fifth from those giddy heights amid rumours of large-scale liquidation of leveraged bets.
Tether is a so-called stablecoin. Its issuer, a company of the same name, has long claimed that Tethers—of which more than 34bn are in circulation—are backed one-to-one by dollars. One purported advantage of such pegging is lower volatility; bitcoin's price, by contrast, is notoriously erratic. Another is that stablecoins make it easier to move between cryptocurrencies and the ordinary sort.
Latest issue of Regional Economic Analysis of Louisiana (REAL) Report published | Louisiana Tech
The Center for Economic Research, housed in Louisiana Tech University's College of Business, recently published the fourth installment of the Regional Economic Analysis of Louisiana (REAL) Report.
Team members contributing to this issue include Assistant Professor of Economics Dr. Patrick Scott, who serves as Center director, junior finance major Joshua Whitlow, and junior economics major Marc Enoch Hebane Guehi.
Powell Focuses on Economic Need at Key Moment in Markets and Politics - The New York Times
Speaking against that tense backdrop on Tuesday, the chair of the Federal Reserve, Jerome H. Powell, delivered a blunt message to lawmakers that the economic outlook remains wildly uncertain and that the central bank must continue its extraordinary efforts to support the economy.
It's a pledge Mr. Powell has made many times in the last 11 months, but it also resonated through financial markets, which had begun to quiver as investors worried that a rapidly improving economy would prompt the Fed to pull back on its efforts to bolster growth.
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Opinion: Don't expect an economic boom, because there's little pent-up consumer demand -
NEW HAVEN, Conn. ( Project Syndicate )—As the second vaccine shot went into my arm, I could almost taste the instant gratification of deferred desires. Having done without for nearly a year, it was time to indulge.
While I was lucky enough—actually, old enough—to be included in the first wave of inoculations, the rest of America is about to follow. The possibility that broader vaccine distribution will lead to "herd immunity" by the end of 2021 is no longer fanciful. And with the end of the COVID-19 nightmare, goes the argument widely discounted in financial markets, long-deprived U.S. consumers can finally relax and enjoy the glorious V-shaped recovery.
Token effort - Bitcoin crosses $50,000 | Finance & economics | The Economist
A NYONE WHO bought bitcoin a year ago must feel vindicated—and rich. The price of the cryptocurrency crossed $50,000 for the first time on February 16th, a five-fold increase over the past year. Wall Street grandees including BlackRock, Bank of New York Mellon and Morgan Stanley are mulling holding some for clients. Last week Tesla, an electric-car maker, said it had bought $1.5bn-worth of bitcoin and would accept it as payment for its cars.
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Investors' interest in bitcoin as an asset may be rising, but the inefficiencies and transaction costs associated with its use make it unlikely ever to be a viable currency. Here the action has been within central banks. As consumers have shifted away from using physical cash, and private companies—such as Facebook—have expressed an interest in launching their own tokens, many central banks have begun planning to issue their own digital currencies.
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Powell Pledges to Maintain Economic Support - The New York Times
Jerome H. Powell, the chair of the Federal Reserve, told lawmakers that the economic rebound from the pandemic recession had further to go and reiterated that the central bank planned to keep up its growth-stoking policies, which include rock-bottom interest rates and large-scale bond buying.
"The economic recovery remains uneven and far from complete, and the path ahead is highly uncertain," Mr. Powell said in prepared remarks he delivered to the Senate Banking Committee on Tuesday. "Although there has been much progress in the labor market since the spring, millions of Americans remain out of work."
Happening on Twitter
Women face more frequent and hostile questions than men when presenting economic research, a new study found. It's… https://t.co/BwOMyZmzmM nytimes (from New York City) Tue Feb 23 12:00:14 +0000 2021
Still more evidence of sexism in economics, and what it looks like at the ground level: Women face more and harsher… https://t.co/KC5BhMYENC bencasselman Tue Feb 23 14:11:58 +0000 2021
When women present economics papers they receive 12 percent more questions than male economists, and the tone is mo… https://t.co/upD0cgIE8b mattyglesias (from Washington, DC) Tue Feb 23 14:29:39 +0000 2021
The economics profession has been grappling with gender discrimination since 1971 and has not done a good job. Male… https://t.co/1ROvQYul96 zachdcarter (from Pandemic, USA) Tue Feb 23 15:21:23 +0000 2021
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