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1 CEA-2016/02/11 THE BROOKINGS INSTITUTION FALK AUDITORIUM THE COUNCIL OF ECONOMIC ADVISERS: 70 YEARS OF ADVISING THE PRESIDENT Washington, D.C. Thursday, February 11, 2016 PARTICIPANTS: Welcome: DAVID WESSEL Director, The Hutchins Center on Monetary and Fiscal Policy; Senior Fellow, Economic Studies The Brookings Institution JASON FURMAN Chairman The White House Council of Economic Advisers Opening Remarks: ROGER PORTER IBM Professor of Business and Government, Mossavar-Rahmani Center for Business and Government, The John F. Kennedy School of Government at Harvard University Panel 1: The CEA in Moments of Crisis: DAVID WESSEL, Moderator Director, The Hutchins Center on Monetary and Fiscal Policy; Senior Fellow, Economic Studies The Brookings Institution ALAN GREENSPAN President, Greenspan Associates, LLC, Former CEA Chairman (Ford: 1974-77) AUSTAN GOOLSBEE Robert P. Gwinn Professor of Economics, The Booth School of Business at the University of Chicago, Former CEA Chairman (Obama: 2010-11) PARTICIPANTS (CONT’D): GLENN HUBBARD Dean & Russell L. Carson Professor of Finance and Economics, Columbia Business School Former CEA Chairman (GWB: 2001-03) ALAN KRUEGER Bendheim Professor of Economics and Public Affairs, Princeton University, Former CEA Chairman (Obama: 2011-13) ANDERSON COURT REPORTING 706 Duke Street, Suite 100 Alexandria, VA 22314 Phone (703) 519-7180 Fax (703) 519-7190 2 CEA-2016/02/11 Panel 2: The CEA and Policymaking: RUTH MARCUS, Moderator Columnist, The Washington Post KATHARINE ABRAHAM Director, Maryland Center for Economics and Policy, Professor, Survey Methodology & Economics, The University of Maryland; Former CEA Member (Obama: 2011-13) MARTIN BAILY Senior Fellow and Bernard L. Schwartz Chair in Economic Policy Development, The Brookings Institution; Former CEA Chairman (Clinton: 1999-2001) MARTIN FELDSTEIN George F. -
Economic Report of the President.” ______
REFERENCES Chapter 1 American Civil Liberties Union. 2013. “The War on Marijuana in Black and White.” Accessed January 31, 2016. Aizer, Anna, Shari Eli, Joseph P. Ferrie, and Adriana Lleras-Muney. 2014. “The Long Term Impact of Cash Transfers to Poor Families.” NBER Working Paper 20103. Autor, David. 2010. “The Polarization of Job Opportunities in the U.S. Labor Market.” Center for American Progress, the Hamilton Project. Bakija, Jon, Adam Cole and Bradley T. Heim. 2010. “Jobs and Income Growth of Top Earners and the Causes of Changing Income Inequality: Evidence from U.S. Tax Return Data.” Department of Economics Working Paper 2010–24. Williams College. Boskin, Michael J. 1972. “Unions and Relative Real Wages.” The American Economic Review 62(3): 466-472. Bricker, Jesse, Lisa J. Dettling, Alice Henriques, Joanne W. Hsu, Kevin B. Moore, John Sabelhaus, Jeffrey Thompson, and Richard A. Windle. 2014. “Changes in U.S. Family Finances from 2010 to 2013: Evidence from the Survey of Consumer Finances.” Federal Reserve Bulletin, Vol. 100, No. 4. Brown, David W., Amanda E. Kowalski, and Ithai Z. Lurie. 2015. “Medicaid as an Investment in Children: What is the Long-term Impact on Tax Receipts?” National Bureau of Economic Research Working Paper No. 20835. Card, David, Thomas Lemieux, and W. Craig Riddell. 2004. “Unions and Wage Inequality.” Journal of Labor Research, 25(4): 519-559. 331 Carson, Ann. 2015. “Prisoners in 2014.” Bureau of Justice Statistics, Depart- ment of Justice. Chetty, Raj, Nathaniel Hendren, Patrick Kline, Emmanuel Saez, and Nich- olas Turner. 2014. “Is the United States Still a Land of Opportunity? Recent Trends in Intergenerational Mobility.” NBER Working Paper 19844. -
Grasshoppered: America's Response to the 1874
Nebraska History posts materials online for your personal use. Please remember that the contents of Nebraska History are copyrighted by the Nebraska State Historical Society (except for materials credited to other institutions). The NSHS retains its copyrights even to materials it posts on the web. For permission to re-use materials or for photo ordering information, please see: http://www.nebraskahistory.org/magazine/permission.htm Nebraska State Historical Society members receive four issues of Nebraska History and four issues of Nebraska History News annually. For membership information, see: http://nebraskahistory.org/admin/members/index.htm Article Title: Grasshoppered: America’s Response to the 1874 Rocky Mountain Locust Invasion Full Citation: Alexandra M Wagner, “Grasshoppered: America’s Response to the 1874 Rocky Mountain Locust Invasion,” Nebraska History 89 (2008): 154-167 URL of article: http://www.nebraskahistory.org/publish/publicat/history/full-text/NH2008Grasshoppered.pdf Date: 2/11/2014 Article Summary: It was a plague of biblical proportions, influencing generations of federal agricultural policy . and foreshadowing today’s expectations about the government’s role during natural disasters. Cataloging Information: Names: Swain Finch, Solomon Butcher, H Westermann, Robert W Furnas, Thomas A Osborn, E O C Ord, N A M Dudley, Jeffrey Lockwood, John S Pillsbury, John L Pennington Keywords: Swain Finch, H Westermann, Robert W Furnas, Thomas A Osborn, Rocky Mountain locust (Melanoplus spretus), Nebraska Relief and Aid Association, -
2010 Animal Species of Concern
MONTANA NATURAL HERITAGE PROGRAM Animal Species of Concern Species List Last Updated 08/05/2010 219 Species of Concern 86 Potential Species of Concern All Records (no filtering) A program of the University of Montana and Natural Resource Information Systems, Montana State Library Introduction The Montana Natural Heritage Program (MTNHP) serves as the state's information source for animals, plants, and plant communities with a focus on species and communities that are rare, threatened, and/or have declining trends and as a result are at risk or potentially at risk of extirpation in Montana. This report on Montana Animal Species of Concern is produced jointly by the Montana Natural Heritage Program (MTNHP) and Montana Department of Fish, Wildlife, and Parks (MFWP). Montana Animal Species of Concern are native Montana animals that are considered to be "at risk" due to declining population trends, threats to their habitats, and/or restricted distribution. Also included in this report are Potential Animal Species of Concern -- animals for which current, often limited, information suggests potential vulnerability or for which additional data are needed before an accurate status assessment can be made. Over the last 200 years, 5 species with historic breeding ranges in Montana have been extirpated from the state; Woodland Caribou (Rangifer tarandus), Greater Prairie-Chicken (Tympanuchus cupido), Passenger Pigeon (Ectopistes migratorius), Pilose Crayfish (Pacifastacus gambelii), and Rocky Mountain Locust (Melanoplus spretus). Designation as a Montana Animal Species of Concern or Potential Animal Species of Concern is not a statutory or regulatory classification. Instead, these designations provide a basis for resource managers and decision-makers to make proactive decisions regarding species conservation and data collection priorities in order to avoid additional extirpations. -
Grasshoppers
Grasshoppers Orthoptera: Acrididae Plains Lubber Pictured grasshoppers Great crested grasshopper Snakeweed grasshoppers Primary Pest Grasshoppers • Migratory grasshopper • Twostriped grasshopper • Differential grasshopper • Redlegged grasshopper • Clearwinged grasshopper Twostriped Grasshopper, Melanoplus bivittatus Redlegged Grasshopper, Melanoplus femurrubrum Differential Grasshopper, Melanoplus differentialis Migratory Grasshopper, Melanoplus sanguinipes Clearwinged Grasshopper Camnula pellucida Diagram courtesy of Alexandre Latchininsky, University of Wyoming Photograph courtesy of Jean-Francoise Duranton, CIRAD Grasshoppers lay pods of eggs below ground Grasshopper Egg Pods Molting is not for wimps! Grasshopper Nymphs Some grasshoppers found in winter and early spring Velvet-striped grasshopper – a common spring species Grasshopper Controls • Weather (rainfall mediated primarily) • Natural enemies – Predators, diseases • Treatment of breeding areas • Biological controls • Row covers Temperature and rainfall are important mortality factors Grasshoppers and Rainfall Moisture prior to egg hatch generally aids survival – Newly hatched young need succulent foliage Moisture after egg hatch generally reduces problems – Assists spread of diseases – Allows for plenty of food, reducing competition for rangeland and crops Grasshopper predators Robber Flies Larvae of many blister beetles develop on grasshopper egg pods Blister beetle larva Fungus-killed Grasshoppers Pathogen: Entomophthora grylli Mermis nigrescens, a nematode parasite of grasshoppers -
Series I. Correspondence, 1871-1894 Box 1 Folder 1 Darwin to Riley
Special Collections at the National Agricultural Library: Charles Valentine Riley Collection Series I. Correspondence, 1871-1894 Box 1 Folder 1 Darwin to Riley. June 1, 1871. Letter from Charles Darwin to Riley thanking him for report and instructions on noxious insects. Downs, Beckerham, Kent (England). (handwritten copy of original). Box 1 Folder 2 Koble to Riley. June 30, 1874. Letter from John C. Koble giving physical description of chinch bugs and explaining how the bugs are destroying corn crops in western Kentucky. John C. Koble of L. S. Trimble and Co., Bankers. Box 1 Folder 3 Saunders to Riley. Nov. 12, 1874. William Saunders receipt to C. V. Riley for a copy of descriptions of two insects that baffle the vegetable carnivora. William Saunders, Department of Agriculture, Washington, D. C. Box 1 Folder 4 Young to Riley. Dec. 13, 1874. William Young describes the flat-headed borer and its effects on orchards during summer and winter seasons. From Palmyra Gate Co., Nebraska. Box 1 Folder 5 Saunders to Riley. Dec. 22, 1874. William Saunders receipt of notes of investigation on the insects associated with Sarracenia. William Saunders, Department of Agriculture, Washington, D.C. Box 1 Folder 6 Bonhaw to Riley. Jan. 19, 1875. L. N. Bonhaw requesting a copy of his Missouri report, for him to establish a manual or handbook on entomology, and to find out about an insect that deposits eggs. Subject: tomato worm, hawk moth. 1 http://www.nal.usda.gov/speccoll/ Special Collections at the National Agricultural Library: Charles Valentine Riley Collection Box 1 Folder 7 Holliday to Riley. -
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Can a Safety Net Subsidy Be Contained? John R. Walter n 1997 the U.S. Congress introduced legislation that would broaden op- portunities for combining banks with nonbank ®nancial and non®nancial I businesses.1 There has been some concern, however, that such combina- tions would possibly allow a safety net subsidy that banks might receive to spill over to nonbanking companies af®liated with banks. In response to the concern, supporters of this reform have suggested various proposals to try to keep a subsidy within the bank itself.2 Two mechanisms, in particular, have received considerable attention: the ®rst would restrict nonbanking activities to bank holding company (BHC) subsidiaries and deny them to bank subsidiaries; the second would allow nonbank activities in bank subsidiaries but restrict intracompany transactions.3 In this article, I assess the potential of these proposals to contain any ex- isting safety net subsidy, without evaluating the usefulness of the proposals for other purposes.4 I explain how supervisory and regulatory policies that support This article bene®ted greatly from suggestions from Marvin Goodfriend, Thomas Humphrey, Rowena Johnson, Wenli Li, Elaine Mandaleris, Roy Webb, and John Weinberg. The views expressed herein are the author's and do not necessarily represent the views of the Federal Reserve Bank of Richmond or the Federal Reserve System. 1 For example, one might imagine a large ®nancial supermarket offering commercial bank- ing, investment banking, and insurance services, together with some non®nancial services, such as manufacturing. 2 Discussions of such proposals can be found in Greenspan (1997), Helfer (1997), Kwast and Passmore (1997), Ludwig (1997), and Whalen (1997). -
Marriner S. Eccles and the 1951 Treasury – Federal Reserve Accord: Lessons for Central Bank Independence
Working Paper No. 747 Marriner S. Eccles and the 1951 Treasury – Federal Reserve Accord: Lessons for Central Bank Independence by Thorvald Grung Moe* Levy Economics Institute of Bard College January 2013 * Thorvald Grung Moe is a senior adviser at Norges Bank, the central bank of Norway, and a research associate at the Levy Economics Institute. The views expressed in this paper are those of the author and do not necessarily represent the position of Norges Bank. The Levy Economics Institute Working Paper Collection presents research in progress by Levy Institute scholars and conference participants. The purpose of the series is to disseminate ideas to and elicit comments from academics and professionals. Levy Economics Institute of Bard College, founded in 1986, is a nonprofit, nonpartisan, independently funded research organization devoted to public service. Through scholarship and economic research it generates viable, effective public policy responses to important economic problems that profoundly affect the quality of life in the United States and abroad. Levy Economics Institute P.O. Box 5000 Annandale-on-Hudson, NY 12504-5000 http://www.levyinstitute.org Copyright © Levy Economics Institute 2013 All rights reserved ISSN 1547-366X ABSTRACT The 1951 Treasury – Federal Reserve Accord is an important milestone in central bank history. It led to a lasting separation between monetary policy and the Treasury’s debt-management powers, and established an independent central bank focused on price stability and macroeconomic stability. This paper revisits the history of the Accord and elaborates on the role played by Marriner Eccles in the events that led up to its signing. As chairman of the Fed Board of Governors since 1934, Eccles was also instrumental in drafting key banking legislation that enabled the Federal Reserve System to take on a more independent role after the Accord. -
Bowdoin College Catalogue (1934-1935)
Bowdoin College Bowdoin Digital Commons Bowdoin College Catalogues 1-1-1935 Bowdoin College Catalogue (1934-1935) Bowdoin College Follow this and additional works at: https://digitalcommons.bowdoin.edu/course-catalogues Recommended Citation Bowdoin College, "Bowdoin College Catalogue (1934-1935)" (1935). Bowdoin College Catalogues. 213. https://digitalcommons.bowdoin.edu/course-catalogues/213 This Book is brought to you for free and open access by Bowdoin Digital Commons. It has been accepted for inclusion in Bowdoin College Catalogues by an authorized administrator of Bowdoin Digital Commons. For more information, please contact [email protected]. bowdoin collegi Bulletin Number 222 November, 1934 CATALOGUE ISSUE FOR THE SESSIONS OF 1934-1985 Brunswick, Maire Entered as second-class matter, June 28, 1907, at Brunswick, Maine, under Act of Congress of July 16, 1894 PUBLISHED MONTHLY BY THE COLLEGE — < ^IIR.vARV y -f Bowdoin Colleg Sessions of 1934-1935 Brunswick, Maine . 1934 1935 1936 JULY JAN. JULY JAN. S M T W T F S S M T W T F S SMTWTFSSMTWTFS 12 3 4 5 6 7 12 3 4 5 .. 123456 1234 8 9 10 11 12 13 14 6 *7 8 9 10 11 12 7 8 9 10 11 12 13 5 6 7 8 9 10 11 15 16 17 18 19 20 21 13 14 15 16 17 18 19 14 15 16 17 18 19 20 12 13 14 15 16 17 18 22 23 24 25 26 27 28 20 21 22 23 24 25 26 21 22 23 24 25 26 27 19 20 21 22 23 24 25 29 30 31 27 28 29 30 31 . -
The Treasury-Fed Accord: a New Narrative Account
The Treasury-Fed Accord: A New Narrative Account Robert L. Hetzel and Ralph F. Leach he fiftieth anniversary of Federal Reserve Independence Day was March 4, 2001. After World War II ended, the Fed continued its T wartime pegging of interest rates. The Treasury-Fed Accord, an- nounced March 4, 1951, freed the Fed from that obligation. Below, we chron- icle the dramatic confrontation between the Fed and the White House that ended with the Accord.1 1. THE CHALLENGE TO THE TREASURY In April 1942, after the entry of the United States into World War II, the Fed publicly committed itself to maintaining an interest rate of 3/8 percent on Treasury bills. In practice, it also established an upper limit to the term structure of interest rates on government debt. The ceiling for long-term government bonds was 2 1/2 percent. In summer 1947, the Fed raised the peg on the Treasury bill rate.2 However, the Treasury adamantly insisted that the Robert L. Hetzel is Economist and Vice President at the Federal Reserve Bank of Richmond. From 1971 through 1977, Ralph F. Leach was Chairman of the Executive Committee of J. P. Morgan and Morgan Guaranty Trust. Before joining the Guaranty Trust Company in 1953, he was Chief of the Government Finance Section at the Board of Governors of the Federal Reserve System. This article contains his reminiscences about the Treasury–Federal Reserve Accord. The authors gratefully acknowledge conversations with C. Richard Youngdahl and Donald B. Riefler and thank Marvin Goodfriend, Tom Humphrey, Jeff Lacker, and Anna Schwartz for many useful suggestions. -
Pdfin Late August
Library of Congress image det 4a32167, photo by William Henry Jackson (circa 1892). In �ate �ugust The Federal Reserve Bank of Kansas City’s Jackson Hole Economic Policy Symposium In �ate �ugust The Federal Reserve Bank of Kansas City’s Jackson Hole Economic Policy Symposium Published by the Public Affairs Department of the Federal Reserve Bank of Kansas City 1 Memorial Drive • Kansas City, MO 64198 Diane M. Raley, publisher Craig S. Hakkio, content advisor Kristina J. Young, associate publisher Lowell C. Jones, executive editor Tim Todd, co-author Bill Medley, co-author Casey McKinley, designer Cindy Edwards, archivist All rights reserved, Copyright © 2013 Federal Reserve Bank of Kansas City No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior consent of the publisher. First Edition, 2011 First Edition, Second Printing 2013 In Late August • III �ontents vii Introduction 1 ‘Monetary Policy Issues in the 1980s’ August 1982 • Grand Teton National Park, Wyo. 9 ‘World Agricultural Trade: The Potential for Growth’ May 1978 • Kansas City, Mo. 15 ‘Modeling Agriculture for Policy Analysis in the 1980s’ September 1981 • Vail, Colo. 23 ‘Price Stability and Public Policy’ August 1984 • Grand Teton National Park, Wyo. 29 ‘Central Banking Issues in Emerging Market-Oriented Economies’ August 1990 • Grand Teton National Park, Wyo. 37 ‘Maintaining Financial Stability in a Global Economy’ August 1997 • Grand Teton National Park, Wyo. 43 ‘The Greenspan Era: Lessons for the Future’ August 2005 • Grand Teton National Park, Wyo. 51 Afterword 57 Appendix 60 Images from the Jackson Hole Symposium 62 Jackson Hole Economic Symposium Team 63 Bibliography 66 Photo Credits 68 Index Contents • V 1). -
Annals 2/Gilmour
Paper in: Patrick N. Wyse Jackson & Mary E. Spencer Jones (eds) (2011) Annals of Bryozoology 3: aspects of the history of research on bryozoans. International Bryozoology Association, Dublin, pp. viii+225. BRYOZOANS OF THE NORTHEAST COAST OF THE UNITED STATES 201 Bryozoans of the Northeast Coast of the United States: taxonomic history and summary of a new survey Judith E. Winston1 and Peter J. Hayward2 1Virginia Museum of Natural History, Martinsville, VA 24112, USA 2School of Biological Sciences, University of Wales, Swansea, SA2 8PP, Wales, UK 1. Introduction 2. History of Taxonomic Study of Northeast Coast Bryozoans 3. Northeast Coast Bryozoan Diversity 4. Biogeography 5. Conclusions 6. Acknowledgments 1. Introduction More than a hundred species of bryozoans occur on the northeast coast of the United States from Maine to Virginia. They are found in habitats ranging from the rocky intertidal coast of the northern Gulf of Maine to the sheltered sandy shorelines of the Chesapeake Bay (Figure 1). Considering that this part of the U.S. was explored and settled very early and that the first marine laboratories were established here in the nineteenth century, we could expect the invertebrate fauna to be well known today. For some groups of macrofauna that is true, but it is not yet the case for bryozoans. A modern guide to their identification and distribution has been long been lacking; the most recent compilations are 60–100 years old. For this reason the authors began a multiyear survey that included both new collections at previously unsampled sites and study of material in museums and in collections made by other researchers.