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U.S. GAO – GAO Has Found New Ways to Save the Federal Government Billions of Dollars
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How Long Has China’s Economy Been This Weak? | American Enterprise Institute
China surprised everyone Tuesday night by acknowledging GDP growth well below 5 percent. The official rate is 4.3 percent for the second quarter and 4.7 percent for the first half, to just over $10.1 trillion. More interesting than most such announcements, but not especially important. The important question is whether the true situation is somewhat worse than…
Bundling Trades In Over-The-Counter Markets — by Jason Allen, Milena Wittwer
In the canonical view of over-the-counter markets, dealers intermediate single-asset trades one at a time. We study a complementary role: when investors trade several assets at once, dealers absorb the joint position into inventory, insuring against execution risk. Using data on the near-universe of Canadian fixed-income trades, we find that bundled transactions account for 20…
Freddy the World Cup Tourist and Tocqueville’s Hopes for America
In the 1830s, a French aristocrat named Alexis de Tocqueville traveled through the United States and returned home with Democracy in America, a penetrating analysis of a society marked by energetic voluntary associations and a restless spirit of enterprise. Tocqueville admired much of what he saw, but his verdict was not uncomplicated. Near the end…