Word: bumping
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Dates: during 2000-2009
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Meanwhile, a group of economists at the Federal Reserve Bank of Boston had been noticing the same thing. "We were trying to understand why these numbers looked the way they did," says Burcu Duygan-Bump. Partly because of conversations the economists had with Fed staffers in the banking supervision division, the group came to believe the aggregate data was obscuring the underlying dynamics of the financial system. "If you say New England has a snowstorm with an average snowfall of two inches, that might not reflect the fact that Boston got ten inches and northern Maine got none," says Ethan...
...November, Duygan-Bump, Cohen-Cole and two other colleagues - Jose Fillat and Judit Montoriol-Garriga - put out a paper called "Looking Behind the Aggregates: A Reply to Facts and Myths About the Financial Crisis of 2008.'" In it, they argued that even though overall lending seemed to be robust, that could very well be the result of companies drawing down existing credit lines - agreements banks had made in better times and now couldn't renegotiate. In fact, there was plenty of anecdotal evidence in the business press to suggest that was exactly what was happening, that companies were locking...
...information," he says. "They've been remarkably unforthcoming about the rationale for their interventions." That seems to be a common sentiment. "The one thing they emphasize that we really agree with is they want policymakers to share more data that underlie their decisions," says the Boston Fed's Duygan-Bump. As a new Administration takes office and the process of spending hundreds of billions of dollars to fix the economy continues, it will be as important as ever to question whether the policy responses we come up with are the right ones - to make sure not only that they work...
...Thais believe that a person's soul abides in the crown of the hair on top of the head. To bump, hit, rub, or touch the head is to offend the soul, perhaps causing it to run away from home." - Handbook for foreign students at a Thai university...
...first part of the five-hour trip the road is a smooth four-lane highway that whisks you past gleaming gas stations and a brand new Samsung TV factory. Then everything slows down. The highway turns single-track and becomes progressively rougher. For the last 20 miles, you bump along the ruts, distracted only by the swaying rows of silver-birch trees that flank the road...