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The Term Securities Lending Facility (TSLF) lent $2.3 trillion worth of general collateral to 18 investment houses in exchange for riskier securities. Treasury collateral was in high demand in 2008 and 2009 as repo markets shunned lower quality collateral. This paper finds a negative and significant relationship between participating in the TSLF and having funds from the Troubled Asset Relief Program (TARP) and other Federal Reserve lending programs. Thus, it appears that the TSLF was a substitute for other bailouts. In addition, dealers with higher paid CEOs were more likely to borrow in the next TSLF auction cycle. Keywords Bailout * Banks * Capital Purchase Program (CPP) * CEO pay * Discount window * Dodd-Frank Wall Street Reform Act of 2010 * Emergency lending JEL G01 * G18 * G2 * G24 * G28, Introduction This is the first study to find evidence that the various bailouts of Wall Street were substitutes for one another. We find that assistance from the Federal Reserve's emergency [...]

The question to what extent corruption influences suicide still remains unanswered. This paper examines the effect of corruption on suicide using a panel data approach for 24 OECD countries over the period 1995-2004. Our results show that suicide rates are lower in countries with lower levels of corruption. We also find evidence that this effect is approximately three times larger for males than for females. It follows from these findings that corruption has a detrimental effect on societal well-being and its effect differs based on the social position of genders. Keywords Corruption * Panel data * Suicide * Well-being * OECD JEL D73 * H75 * I18, Introduction Ideally, governments can be expected to improve quality of life and increase well-being by preventing market failure. Indeed, if the ultimate goal of any government is the continuous improvement [...]

Abstract Schools are often in need of low-cost, high-impact strategies to improve student behavior in school common areas. While many behavior management programs exist, there are few resources available to [...]

Abstract A medical model has advantages over a legal model in thinking about special education, especially in responding supportively to difference, meeting individual needs, and practicing prevention. The legal conceptual [...]

We examine the effect of denial rates from the Canada/Quebec Pension Plan (C/QPP) disability program on the labor force participation of older men and women in Canada. Our study uses data from a period in which there was a change in CPP disability adjudication requirements, which also varied by province, but no change in the QPP disability program requirements. This created variation in the CPP disability program's denial rates. The estimates from our preferred specifications indicate that denial rates do not have the expected statistically significant negative effect on the participation decisions of older men or women. These findings may be the result of a change in the applicant pool for disability benefits. Keywords disability insurance * denial rates * older men and women. labor force participation JEL Classifications H55 * I12 * J26, Introduction A large expansion in the number of individuals collecting disability insurance benefits has been observed in many industrialized countries. This growth, especially in the United States, has led some [...]

This paper presents Keynes' concept of equilibrium, which was one key theoretical element that constituted the theoretical core of the General Theory and was critical in his attack on the classical model. Keynes' concept of equilibrium differed in structure, content, and purpose from that of the neoclassical orthodoxy. There were four unique features of Keynes' equilibrium and these features all reflect his overriding focus on involuntary unemployment. First, Keynes' equilibrium reflected a purposive function that differed in its maximand and normative content from his predecessors. Second, Keynes' equilibrium reflected the fact that the composition of national income determined the level of aggregate demand, which in turn determined of the equilibrium level of national income and employment. Third, his notion of equilibrium was based on use of the ex ante-ex post analysis. Finally, Keynes' equilibrium presented an alternative view of market-clearing. (]EL BOO, E00), Introduction In part, Keynes' belief that the General Theory (1) would create a revolution in economics was based on his theoretical goal of attacking what he termed the classical model [...]

L.E. Johnson (*) Thomas Cate (**) David Laidler, 1999, pp. 377 Introduction In The Golden Age of the Quantity Theory [1991], David Laidler traces the development of macroeconomic thought up [...]

The author explores overlaps between economics and ethics. A society's moral climate conditions its degree of economic development and prosperity. Policy recommendations necessarily rest on normative as well as positive [...]

A first look at Mohammed H. I. Dore's The Macrodynamics Of Business Cycles brings to mind (for this reviewer, aged 62) Dudley Dillard's The Economics Of John Maynard Keynes. Dillard's [...]

Dixit and Stiglitz's ['Monopolistic Competition and Optimum Product Diversity,' AER, 1977] model of monopolistic competition has been used by a number of economists in recent years to gain insight into [...]