Environmental Kuznets Curve:
Definition and Background Info:
Key findings of National Realtors Association (NAR) on home sale situation (Sept. 11, 2007):
Lawrence Yun, NAR senior economist about the situation:
“A sharp production pullback by homebuilders deep into 2008 is a healthy trend that will help trim down housing inventory,” Yun said. Housing starts, including multifamily units, are expected to total 1.37 million this year and 1.26 million in 2008, compared with 1.80 million in 2006.
“The mortgage markets will calm further in the months ahead, but it’s important to underscore the fact that conventional loans – the vast majority of available financing – are available to creditworthy borrowers,” Yun said. “Patient buyers in most areas who do their homework will recognize that housing remains a good long-term investment.”
Some key conclusions:
More research on "lemon markets":
Some key findings:
Some key findings:
Why We Aren’t as Ethical as We Think We Are: A Temporal Explanation, Ann E. Tenbrunsel (U.of Notre Dame), Kristina A. Diekmann (Univ. of Utah), Kimberly A. Wade-Benzoni (Duke), Max H. Bazerman (Harvard), August 2007
A new paper of above mentioned researchers deals with the question why people are less ethical than they think they are and with reasons for this biased self-perception. Some of the key elements of their conclusions are:
After many scandals a few years ago the US corporate world was shocked by an option backdating scandal last year. There have been some news about similar practice outside the US lately. That such practice is not a "gentlemen delict" at all shows attached study:
Bernile, Jarrell and Mulcahey investigated the effect of the options backdating scandal on the Stock-Price Performance of 110 Accused Companies. The study examines 110 companies listed in the Wall Street Journal's Perfect Payday webpage, collecting all news stories related to options backdating. It finds market-adjusted long-term losses of between 20% and 50%, suggesting market losses of between $100 billion and $250 billion.
The Effect of the Options Backdating Scandal on the Stock-Price Performance of 110 Accused Companies, G. Bernile (u.of Miami), G.A. Jarrell (U.of Rochester), H. Mulcahey (Forensic Economics), Dec. 21, 2006
Some conclusions of the study:
Source: European Housing Review 2007, RICS
RICS (Royal Institution of Chartered Surveyors)is the largest organisation for professionals in property, land, construction and related environmental issues worldwide.
With 120 000 members, RICS is a leading source of property related knowledge, best practice and consumer protection.
In crisis times people seem to be particularly perceptive for the advise of "gurus" who claim to have deeper insights. Such people may often biased as they have self-interests when making their statements or are wishful thinkers.
Academic research suggest that wishful thinking might indeed account for various anomalies in financial markets.
"The supply of entrepreneurs depends not only on reward and status, but also on personality, culture, and life experience. An entrepreneur will often find that his opinion is in conflict with the majority view. He needs the self-confidence that, even though in a minority, he is right. … In identifying profitable opportunities the entrepreneur needs to synthesize information from different sources."
(Casson Mark, The Economics of the Family Firm, 1999)
Letter of Mortgage Bankers Association to the Board of Governors of the Federal Reserve System reg. "Home Ownership and Equity Protection Act Hearing and Request for Comments"
A new International Labour Organization (ILO) report says that productivity levels have increased worldwide over the past decade. However, they see major gaps between industrialized nations and developing countries. Some developing areas however are on an upward trend. ILO mentions the "waste of workers` productive potential."
It is widely believed that secondary mortgage credit market improve the efficiency with
which risk is managed.
Attached paper gives some empirical information on this wide spread belief:
Key findings are:
CDO Issuance and US Home Equity ABS Indices
Econ Analysis: Selected contributions to economics: articles, papers, podcasts, blogs (constantly updated)__________________________________________________________________________________________________
Recommended search terms (click on terms):
Analysts, Analyst Recommendation, Animal Spirits, Austerity, Bail out, Behavioral Finance, Bubble, Buyout, Carried Interest Taxation, Central Banks, CEO, Compensation, Contagion, Corporate Governance, Creative Destruction, Crisis, Currency War, Decoupling, Deflation, Depression, Economic Outlook, Economic Stimulus, Entrepreneur, Exchange Rates, Fiscal Policy, Forecast, Hedge Fund, Herding, Inflation, Information Cascades, LBO, Innovation Minsky Cycle, Monetary Policy, Moral Hazard, Mortgage, Nationalization, Protectionism, Recession, Regulation, Shareholder Activism, Sovereign Wealth Funds, Subprime, Taxes, Tobin Tax, Venture Capital, Walker Report, Yield Curve,
Finance and Real Estate:
Biofuel, Carbon, Cleantech, Climate Change, CO2, Energy, Food Crisis, Food Prices, Externalities, Gold, Kuznets Curve, Solar, Oil, ______________________________________________________________________________________________________
Natural Resources and Food:
Latest articles of selected institutions:
Imported information which does not show the source will be removed.
_______________________________________________________________________________________ ________________________________________________________________________________________ __________________________________________________________________________________
|<< <||> >>|