Suchergebnisse

Testimony issued by the Government Accountability Office with an abstract that begins "In fiscal year 2006, the Department of Veterans Affairs (VA) paid $19 million to state approving agencies (SAA) to assess whether schools and training programs are of sufficient quality for veterans to receive VA education assistance benefits when attending them. The Departments of Education and Labor also assess education and training programs for various purposes. This testimony describes (1) changes that have occurred in state approving agencies' duties and functions since 1995, (2) the extent to which the SAA approval process overlaps with efforts by the Departments of Education and Labor, and (3) the additional value that SAA approval activities bring to VA education benefit programs. This testimony is based on a March 2007 report (GAO-07-384)."

This study investigates priming effects during the global financial crisis that erupted in September 2008. Using two longitudinal data sources on public opinion dynamics in Sweden between 2007 and 2010, we find no evidence of a basic priming hypothesis. Drawing upon the distinction between accessibility and applicability mechanisms, however, additional analysis indicates that priming of economic considerations was moderated by citizens' attributions of responsibility for current economic developments. These results support the notion of priming as a two-step process, whereby heavy news coverage of the financial crisis increases the accessibility of economic considerations among the audience, but whether these considerations are used in government approval assessments depends on their perceived applicability as well. ; Published online: 02 January 2014

Purpose
– The purpose of this paper is to examine whether the underserved area requirements for Fannie Mae and Freddie Mac (the government-sponsored enterprises [GSEs]) and the community needs requirements of the Community Reinvestment Act (CRA) contributed to the house price run-up in the USA.


Design/methodology/approach
– This paper predicts the incidence of "Rebounds", which indicate that a mortgage had been previously denied, to provide evidence on whether certain regulations caused excessively risky mortgage originations. As a different lender rejected the loan given the interest rate that they were willing to charge and information on the borrower, a higher incidence of Rebounds provides evidence that lenders were more frequently disagreeing about loans. This can indicate differences in regulatory pressure or oversight across lenders.


Findings
– This paper provides evidence that the GSEs were purchasing fewer Rebounds directly from lenders. However, evidence suggests that indirectly, the securitization market served as a conduit for Rebounds to the GSEs that needed to satisfy regulatory underserved area requirements. The necessity of complying with the CRA was found to increase Rebounds. Among regulators, the Federal Reserve was found to have been particularly associated with Rebounds.


Originality/value
– The paper's contribution comes from linking Rebounds to legislative and regulatory influences. This contributes to the literature on excess credit and fraud, as well as the effect of underserved area requirements and the CRA. Also, this paper adds a new dimension to the literature on securitization, by showing the influence of regulation on the securitization of risky mortgages.

This study investigates priming effects during the global financial crisis that erupted in September 2008. Using two longitudinal data sources on public opinion dynamics in Sweden between 2007 and 2010, we find no evidence of a basic priming hypothesis. Drawing upon the distinction between accessibility and applicability mechanisms, however, additional analysis indicates that priming of economic considerations was moderated by citizens' attributions of responsibility for current economic developments. These results support the notion of priming as a two-step process, whereby heavy news coverage of the financial crisis increases theaccessibilityof economic considerations among the audience, but whether these considerations are used in government approval assessments depends on their perceivedapplicabilityas well.

A power point presentation of the post approval oberservations of the national budget FY2017-18 discussing revenue, develpoment expenditures, and budget deficit.

Safety regulation - in the form of pre-market approval, licensure, screening, and product entry limitations - governs numerous market realms, including consumer finance. In this article, we ask whether the effects of safety regulation go beyond safety and affect consumers' beliefs about the distribution of products they can use. We model 'approval regulation,' where a government regulator must approve the market entry of a product based upon observable, unbiased, and non-anticipable experiments. We show that even if regulator and firm disagree about only quality standards, the disagreement induces the firm to provide more information about its product than it would in the absence of regulation. Put differently, purely first-order disagreements in regulation generate second-order consequences (more certainty about product quality). These second-order consequences of regulation are sufficient to generate first-order effects among end-users (more consumption of superior products), even when users are risk-neutral. In other words, even if approval regulation produces little or no improvement in safety or quality, it still aggregates information useful to 'downstream' product users; these users will exhibit higher consumption and will more readily switch to superior products. In contrast with libertarian analyses of entry regulation and licensure, the model predicts that entry restrictions may be associated with greater product or service utilization (consumption) as well as with greater price sensitivity among consumers. Because contemporary cost-benefit analyses ignore these second-order effects, they are unlikely to capture the possible confidence effects of approval regulation. Adapted from the source document.