BdP: "Determinants of sovereign bond yield spreads in the euro area in the context of the economic and financial crisis"


Fed: "Recessions, Housing Market Disruptions, and the Mobility of Workers"


IMF: "Fiscal Exit: From Strategy to Implementation"


"Into the Abyss: What If Nothing is Risk Free?"


CRR: "How Do Responses to the Downturn Vary by Household Characteristics?"


Fiscal Commission: "Co-Chairs' Proposal"


Fed: "Interstate Migration Has Fallen Less Than You Think: Consequences of Hot Deck Imputation in the Current Population Survey"


"Index Investment and Financialization of Commodities"


Thanks also for these additional insightful comments and have great weekend:

"Have a wonderful weekend.

"Be sure to take the time to glance at the Fiscal Commission: "Co-Chairs' Proposal". Not to be a sceptic, but.....is this going to actually be taken seriously, thrown straight into the recycling bin or uses as political cover to make some tough decisions? This is a very serious effort and includes some very unpopular proposals. Since it actually addresses entitlements the entire document will be long forgotten by the 2012 elections."

Eoin Treacy's view It is heartening to see that the USA is beginning to debate how the fiscal and budgetary deficits will be managed and hopefully decreased over time, particularly in the wake of an additional round of QE. Massive unfunded entitlement programs which simply cannot be paid for will have to be put on the agenda at some stage. While that nettle is better grasped sooner rather than later, the sceptic in me notes that politicians seem to have an innate talent for putting off unpalatable decisions until they are forced to act.

Cutting costs in healthcare and defence, increasing public employee productivity and cutting litigation expenses and red tape are viable options that could be considered as part of comprehensive reform of spending. Corporate taxes in the USA are some of the highest in the world, red tape in setting up business has grown over the years and made the USA uncompetitive in manufacturing. If Germany can be a manufacturing powerhouse there is no reason the USA cannot do something similar with the correct regulatory incentives and reforms.

The USA used to lead the world in standards of economic, corporate and civil governance. The same is not true today. However, the USA does not have to reinvent the wheel. By looking around the world, one can quickly divine the policies that work, what is required is the strength of purpose to implement them.