A closer look: assistance programs in the wake of the crisis

An unprecedented amount of aid was extended by the Treasury, Fed and FDIC to companies, agencies and individuals. This aid was necessary and, in many cases, will return a profit to taxpayers.Financial crises ; Intermediation (Finance) ; Business failures

The commercial paper market, the Fed, and the 2007-2009 financial crisis

Since its inception in the early nineteenth century, the U.S. commercial paper market has grown to become a key source of short-term funding for major businesses, with issuance averaging over $100 billion per day. In the fall of 2008, the commercial paper market achieved national prominence when increasing market stress caused some to fear that, given its size and importance, the market's failure would sharply worsen the recession. The Department of the Treasury and Federal Reserve enacted programs targeted at providing credit and liquidity to restore investor confidence. The authors review the history of the commercial paper market, describe its structure and key relationships to money market mutual funds, and present a detailed discussion of the crisis in the market, including the resulting Federal Reserve programs.Commercial paper issues ; Financial crises

Offshoring, economic insecurity, and the demand for social insurance

The fear of offshoring, particularly in services since 2000, has raised workers economic insecurity and heightened concerns over future economic globalization. Many have argued that globalization has exacerbated labor market turbulence increasing the demand for social insurance programs. The authors present a simple theoretical model establishing a connection between the threat of offshoring, economic insecurity, and the demand for social insurance. Data from the 1972-2006 General Social Survey to provides supporting empirical evidence.Globalization ; International economic integration

Estimating U.S. output growth with vintage data in a state-space framework

This study uses a state-space model to estimate the "true" unobserved measure of total output in the U.S. economy. The analysis uses the entire history (i.e., all vintages) of selected real-time data series to compute revisions and corresponding statistics for those series. The revision statistics, along with the most recent data vintage, are used in a state-space model to extract filtered estimates of the "true" series. Under certain assumptions, Monte Carlo simulations suggest this framework can improve published estimates by as much as 30 percent, lasting an average of 11 periods. Real-time experiments using a measure of real gross domestic product show improvement closer to 10 percent, lasting for 1 to 2 quarters.Economic development ; Economic conditions - United States

The perils of globalization: offshoring and economic insecurity of the American worker

According to polls from the 2006 congressional elections, globalization and economic insecurity were the primary concerns of many voters. These Americans apparently believe that they have fallen victim to liberal trade polices and that inexorable trends in globalization are destroying the American Dream. In this analysis, we use time series cross-section data from the General Social Survey (GSS) to examine the links among offshoring, labor market volatility, and the demand for social insurance. Unique among the GSS literature, our analysis includes a pseudo-panel model which permits including auxiliary state and regional macroeconomic information.Globalization ; International economic integration

Fueling expected inflation

Gasoline - Prices ; Inflation (Finance)

Doubling your monetary base and surviving: some international experience

The authors examine the experience of selected central banks that have used large-scale balance-sheet expansion, frequently referred to as “quantitative easing,” as a monetary policy instrument. The case studies focus on central banks responding to the recent financial crisis and Nordic central banks during the banking crises of the 1990s; others are provided for comparison purposes. The authors conclude that large-scale balance-sheet increases are a viable monetary policy tool provided the public believes the increase will be appropriately reversed.Monetary policy - United States ; Money supply ; Financial crises

Investigation of Videogame Flow: Effects of Expertise and Challenge

The number of participants in this expertise and videogame flow test totaled 80 from multiple target locations. Participants engaged in various levels of the videogame SuperMario Bros. Twenty experts and twenty novices experienced the easier level of World 1-2 while the other twenty experts and novices were exposed to the more difficult level World 6-1. After gameplay, participants completed a modified survey measuring flow. This survey, along with overall percentage game score, was analyzed. A significant interaction was found between game level (challenge level) and skill levels in perceived immersion, with significant main effects for expertise in perceived skill, for game level (challenge level) in perceived challenge, and for game level (challenge level) in overall percentage score. No significant correlation was found between perceived skill and overall percentage score, between perceived challenge and overall percentage score, or between perceived immersion and overall percentage score. These findings are relevant for understanding videogame flow in videogames of varying degrees of challenge and in players of different expertise levels. Discussion on these findings highlights the purpose of this paper

320g Ionization-Heat Cryogenic Detector for Dark Matter Search in the EDELWEISS Experiment

The EDELWEISS experiment used in 2001 a 320g heat-and-ionization cryogenic Ge detector operated in a low-background environment in the Laboratoire Souterrain de Modane for direct WIMP detection. This detector presents an increase of more than 4 times the mass of previous detectors. Calibrations of this detector are used to determine its energy resolution and fiducial volume, and to optimize the detector design for the 1kg phase of the EDELWEISS-I experiment. Analysis of the calibrations and characteristics of a first series of 320g-detectors are presented.Comment: 4 pages, 3 figure

Higgs boson production via vector-like top-partner decays: diphoton or multilepton plus multijets channels at the LHC

We first build a minimal model of vector-like quarks where the dominant Higgs boson production process at LHC -- the gluon fusion -- can be significantly suppressed, being motivated by the recent stringent constraints from the search for direct Higgs production over a wide Higgs mass range. Within this model, compatible with the present experimental constraints on direct Higgs searches, we demonstrate that the Higgs ($h$) production via a heavy vector-like top-partner ($t_2$) decay, $pp \to t_2 \bar t_2$, $t_2\to t h$, allows to discover a Higgs boson at the LHC and measure its mass, through the decay channels $h\to \gamma\gamma$ or $h\to ZZ$. We also comment on the recent hint in LHC data from a possible $\sim 125$ GeV Higgs scalar, in the presence of heavy vector-like top quarks.Comment: 14 pages, 8 figure