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NYT Claims That Ending France 35-Hour Work Week Would Hugely Increase French GDPDean Baker / November 27, 2014
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NYT Claims That Ending France 35-Hour Work Week Would Hugely Increase French GDPDean Baker / November 27, 2014
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Latin America and the Caribbean
Central America’s “Alliance for Prosperity” Plan: Shock Doctrine for the Child Refugee Crisis?Dan Beeton / November 26, 2014
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Right to Rent Helping Families Move Back into HomeownershipThe LA Times ran a nice story on Friday about the Coronel family of Azusa, California, and how they were able to buy back their foreclosed home "for $280,000, far less than the $400,000-plus debt that had gone into default." They had been able to stay in their home after their foreclosure because "Fannie Mae gave permission in 2010 for the Coronels to stay on in the Azusa house as renters."
The article asked if Fannie Mae's allowing this "indirect" principal reduction reflects a change in policy. That's because before the Coronel's case, Fannie Mae and Freddie Mac required foreclosed homeowners to pay their entire outstanding mortgage balance before being able to repurchase their homes. That's while other buyers were able to pay the lower market price for the same property.
CEPR and / November 26, 2014
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Wall Street Journal and Charles Schumer on ObamacareDean Baker / November 26, 2014
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Wall Street Journal and Charles Schumer on ObamacareDean Baker / November 26, 2014
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Latin America and the Caribbean
Cholera on the Uptick in Haiti as Donor Response FaltersFrom January through August of 2014, 69 Haitians died from cholera and some 8,628 fell ill, a 76 percent drop from the previous year, the United Nations reported. In October, at a high-level donor conference convened to raise money to help fight cholera, World Bank director Jim Kim told the assembled diplomats that the reduction in cases was “an achievement of which Haiti and its development partners can be proud.” The U.N. decreased their projections for the number of new cases in 2014 to 15,000 from 45,000 and proudly stated that the “case fatality rate is below the 1 per cent target rate set by the World Health Organization.”
But the last few months have shown the optimism to be premature, at best. As heavy rains have hit Haiti, so too has a resurgence of cholera. With data through November 21, 2014 [PDF], the number of cases in 2014 has already shot past the 15,000 estimate to over 20,000. More worryingly, since the beginning of September, 135 Haitians have died from cholera, nearly twice as many as had died over the first 8 months of the year. Further, the much-watched case fatality rate stands at 1.3 percent over that time period, above the 1 percent target.
Yesterday, Medecins Sans Frontieres (MSF), which has treated nearly 30 percent of those sickened by cholera in Haiti, warned that the response capacities inside Haiti were severely limited and unable to cope with the recent increase. “We have tried to refer patients to other cholera treatment centers, but we soon realized there were not enough beds,” explained Olivia Gayraud, MSF medical coordinator in Haiti. “The Martissant center was quickly overwhelmed by the number of patients, as national health structures are poorly prepared to react to cholera outbreaks, despite them being predictable during the rainy season,” she added.
Jake Johnston / November 25, 2014
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Robert Samuelson Doesn't Like Social Security, AgainDean Baker / November 25, 2014
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Paying Workers Fairly for the Hours They WorkEileen Appelbaum / November 25, 2014
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Latin America and the Caribbean
Fixing the Exchange Rate System in VenezuelaMark Weisbrot / November 25, 2014
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It Would Take a Lot of Mismanagement to Raise the Cost of Treasury Debt by "Just" 20 Basis PointsDean Baker / November 25, 2014
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Because Stock Prices Have Soared, Returns in the Future Will Be LowerDean Baker / November 25, 2014
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Sharing Is CaringThe recent passage of a work-sharing program by the Illinois state Senate signals an increasing willingness across the country to provide employers with alternatives to layoffs. The state is now in the company of the District of Columbia and 27 other state legislatures, all of whom have also passeed work-sharing programs, and will be the 13th state to have done so since 2009. Back in 2011, CEPR Co-Director Dean Baker penned a report on work-sharing, both in the OECD and the U.S. states that had already implemented such programs, and detailed its potential impacts on productivity and employment.
CEPR and / November 24, 2014