Federal Reserve: FEDS | Housing Bust, Bank Lending & Employment: Evidence from Multimarket Banks
Housing Bust, Bank Lending & Employment: Evidence from Multimarket Banks (PDF) David P. Glancy Abstract: I use geographic variation in bank lending to study how bank real estate losses impacted the supply of credit and employment during the Great Recession. Banks exposed to distressed housing markets cut mortgage and small business lending relative to other…
FEMA: As Historic 2017 Hurricane Season Comes to an End, Federal Support to Recovery Continues
While Nov. 30 marks the end of a historic hurricane season, FEMA and its partners continue to work diligently in support of disaster survivors recovering from the devastating season. Four hurricanes made landfall: Harvey, Irma, Maria and Nate (the first three were classified as major hurricanes, which affected roughly 25.8 million people). Also during this…
FEMA: Partnerships and Progress – $10 Billion in Disaster Assistance in the Hands of Texans
AUSTIN, Texas – More than $10 billion in state and federal resources and plenty of hard work by resilient Texans pave the way to recovery from Hurricane Harvey. Here’s a snapshot of recovery 90 days after the Category 4 storm struck Texas: $1.4 billion in federal grants were approved for 350,000 homeowners and renters. $2.6…
Federal Reserve: FEDS | On Intergenerational Immobility – Evidence that Adult Credit Health Reflects the Childhood Environment
March 2017 (Revised November 2017) On Intergenerational Immobility: Evidence that Adult Credit Health Reflects the Childhood Environment (PDF) Sarena Goodman, Alice Henriques, and Alvaro Mezza Abstract: Using a novel dataset that links socioeconomic background to future credit, postsecondary education, and federal student loan and grant records, we document that, even though it is not and…
HUD: $616 Million in Grants Awarded to Help Florida Recover from Hurricane Irma
The U.S. Department of Housing and Urban Development (HUD) today awarded $615,922,000 to help hard-hit areas in the State of Florida to recover from Hurricane Irma. The grant announced today by the Trump Administration is provided through HUD’s Community Development Block Grant – Disaster Recovery (CDBG-DR) Program and will support the repair of damaged homes,…
SBA: Economic Injury Disaster Loans Offered to Small Businesses in Florida Affected by Hurricane Irma
Small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations located in the declared counties of Florida that have suffered financial losses as the result of Hurricane Irma, should consider applying for an Economic Injury Disaster Loan from the U.S. Small Business Administration. The SBA’s Economic Injury Disaster Loans (EIDLs)…
Census Bureau: Services Sector Revenue Rises to $15.5 Trillion
Revenue generated by service sector firms increased 4.4 percent between 2015 and 2016, according to statistics from the U.S. Census Bureau’s 2016 Service Annual Survey (SAS). Revenue for all service sectors covered by the program is estimated at $15.5 trillion for 2016. This is the first SAS release to include information for the North American…
SBA: Shop “Small” this Saturday
SBA Administrator Linda McMahon calls on Americans to shop local small businesses on Saturday, November 25 Linda McMahon, Administrator of the U.S. Small Business Administration, is reminding Americans that shopping on Small Business Saturday supports America’s thriving small businesses. “Small Business Saturday is about supporting local businesses and creating jobs in communities all across America,”…