Evidence overwhelmingly shows that the average earnings premium to having a college education is high and has risen over the past several decades, in part because of a decline in real average earnings for those without a college degree.
Look for our next post on September 20, 2024.
At the N.Y. Fed: Press Briefing on Household Borrowing with Close‑Up on Student Debt
An examination of recent developments in household borrowing was the focus of a press briefing held this morning at the New York Fed.
Historical Echoes: Noir Gold—The Case of the Brasher Doubloon
Whatever the vagaries of the market, gold is a perennially hot commodity in the popular imagination—especially in the minds of authors and screenwriters. In this Historical Echoes post, we take a look at Raymond Chandler’s 1942 Philip Marlowe novel The High Window, which uses a stolen gold coin—the Brasher Doubloon—as a plot device.
QE Frictions: Could Banks Have Favored Refinancing over New Purchase Borrowing?
Being Up Front about the FHA’s Up‑Front Mortgage Insurance Premiums
From the Vault: Factor This In
New York Fed economists Tobias Adrian, Richard Crump, and Emanuel Moench developed a new approach for calculating the Treasury term premium. Their ACM term premia estimates have since become “increasingly canonical” in economic analysis.
The Need for Very Low Interest Rates in an Era of Subdued Investment Spending
Money Market Funds and the New SEC Regulation
Historical Echoes: The Bank That Never Existed, or You Say ‘Immigrant’ and I Say ‘Emigrant’
Historical Echoes: That Pesky, Well‑Overdue Library Book
The “extremely overdue library book” has had a long run as a sitcom trope. As a source of humor, the ludicrously large library late fine pays off in at least two ways: first, there’s the enormity of the fine when compared with the insignificant monetary value of the book itself (paving the way for jokes about inflation and compound interest); and second, there’s the idea of the “criminality” of the offender, who is probably unlikely to commit any other kind of crime, with the concomitant image of “library police” (or actual police) coming after the negligent borrower . . . One day, that could be you, dear reader.