Tuesday, June 15

Economy

Turnover Rate in the Banking Industry: Problematic but Reparable
All Posts, Economy

Turnover Rate in the Banking Industry: Problematic but Reparable

By: Eric Wang The high turnover rate of employees in the banking industry has caused impacts on companies' development. According to one survey, junior analysts' retention rate has climbed to almost 50 percent high. Debates on maintaining employees and preventing damage to organizational effectiveness have brought attention from corporations' executives. Symptoms accompanied by a sky-high turnover rate include low job satisfaction, damage to the team working, and lack of loyalty to the company. Negative Cause: What makes the employee want to leave The studies conducted in the regional banking industry showed that low job satisfaction decreases performances and leads to resignations. In the banking industry, compliments for the job contents and organizational management are preval...
The Market Ramifications of Semiconductor Manufacturing Localization
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The Market Ramifications of Semiconductor Manufacturing Localization

By: Anton Kozyrev For much of the 20th century, there was one crucial commodity that rose above all others to assume its position atop the global pyramid of desirable goods, so to speak. We speak, of course, of oil. That is not to say that oil only became prominent in the 20th century -- far from it. During the 19th century’s phase of rapid industrialization and almost rhythmic conflicts between economies of scale and labor unions, one thing held absolutely constant -- the importance of oil as a key driver of further economic development and industrialization. The beginning of the following century only further defined the parameters of industrialization, with a central focus on oil. With the discovery of the Spindletop Geyser in 1901, the oil industry grew at an almost exponential ...
The Implications of COVID-19 For Inflation and Its Measurement
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The Implications of COVID-19 For Inflation and Its Measurement

By: Maximus Hamilton Amidst the enervating pandemic our country has dealt with the past year, numerous changes have taken place, not only in the social realm, but in the scope of our economy as well.  Without question, the COVID-19 pandemic has drastically altered consumer spending habits and patterns. With the need to minimize social encounters and slow the spread of the virus, many consumers have turned increasingly away (if not altogether) from most services, and as a result, the proportion of consumer spending on such services versus spending on consumer goods has been significantly altered. A close look at economic data from the past pandemic year would show a drastic decrease in expenditures on many services -- such as restaurants, movie theaters, and bars -- coupled with...
The Advent of the Fourth Industrial Revolution and Its Implications for the Efficacy of GDP
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The Advent of the Fourth Industrial Revolution and Its Implications for the Efficacy of GDP

By: Anton Kozyrev GDP -- or Gross Domestic Product -- has long been the favored means of assessing economic health by myriad groups, from economists to politicians. But it may well be time for a change. According to the St. Louis Fed’s Federal Reserve Archival System for Economic Research (FRASER), the modern concept of GDP was introduced by economist Simon Kuznets, after the United States government had commissioned him to devise a new method of calculating the health of the U.S. economy in a bid to elucidate a clear path out of the Great Depression. This was done in order to allow the United States to articulate a proper response to the heightened pressures of the Great Depression, and eventually led to the large-scale modernization and industrialization of the U.S. economy du...
How to start investing in the stock market as a college student, and why you should do it now
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How to start investing in the stock market as a college student, and why you should do it now

By: Jaime Svinth Whether you have been working since high school or plan to enter into the workforce after graduate school, learning how to manage your money is crucial for a secure financial future. Gone are the days of simply putting money in the bank in hopes that interest rates compound the saved money. Enter: the stock market. Put simply, the stock market connects buyers to public shares of companies. As these companies grow, shares become more valuable, and thus an original investment earns you more money than you paid for it. For some, starting to invest is an intimidating task, and one that some may put off until they are out of college. However, the sooner one can invest, the better, even if it's just $100. Owen Graduate School Assistant Professor of Finance, Jesse Bloch...
A Changing Global Economy Requires Investment and Support of Higher Education
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A Changing Global Economy Requires Investment and Support of Higher Education

By: Anton Kozyrev It would be a gross understatement to say that education has a big impact on individuals’ lives. It is often the defining factor that shapes the trajectory of one’s life, all thanks to the immense financial and economic influences it has. The United States consistently spends more on elementary and secondary education per student than any other nation in the world -- and the U.S. has among the highest secondary school graduation rates in the world. This has undoubtedly been a major factor in the U.S.’ economic growth and development in the past decades. However, as the global economy shifts in the coming years, requiring more extensive forays into increasingly complex topics and conjectures, the workforce of the future will need to expand upon its education to keep...
Despite Struggling Economy, “Everything Rally” Powers Through New Year
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Despite Struggling Economy, “Everything Rally” Powers Through New Year

By: Trevor Jones A phenomenon known as the “Santa Claus Rally” is thought to generally bring each year to a close on a bullish note in stock markets, due to optimism around the Christmas and holiday season. In fact, over the last 70 years, the last five trading days of December and the first two of the new year have seen a positive return on the S&P 500 79% of the time. While this has not been as pronounced over the last decade, the principle of holiday optimism still holds true. This year, the year-end rally has been much more prolonged than the last few days of the year. Since the stock market’s sharp drop in March and April due to the coronavirus outbreak, there has been surprisingly powerful market growth, despite an economy that is still recovering from the fallout of the p...
From Anbang to Ant Group, the Delicate Balance of Innovation and Regulation in Xi’s China
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From Anbang to Ant Group, the Delicate Balance of Innovation and Regulation in Xi’s China

By: Anton Kozyrev Freedom to explore drives innovation. While some may argue over the precise wording, this sentiment generally holds in a variety of circumstances. This phenomenon is seen at a variety of levels within the economy. Google, for instance, has its well-known “20% Time” policy in which it urges employees to spend 20% of their time freely working on new projects. This opportunity to explore has led to the development of numerous noteworthy products, from Gmail to AdSense. Freedom also drives innovation on a larger scale, particularly when it comes to national economic growth. Many proponents of a laissez-faire approach to business regulation will argue that overreaching government control and regulations only serve to stifle innovation and new development. Of course, mon...
Hong Kong-Singapore Travel Bubble’s Deeper Implications for the Future of the Global Economy
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Hong Kong-Singapore Travel Bubble’s Deeper Implications for the Future of the Global Economy

By: Anton Kozyrev In 2003, the SARS epidemic hit Hong Kong – and it hit hard.  Hong Kong would go on to suffer 299 deaths related to the airborne illness – one-fifth of the global death total. This harrowing chapter served as the impetus for a major shift in Hong Kong officials and legislators’ mentality and approach to infectious diseases. The people of Hong Kong became more diligent when it came to illness, with a variety of measures ranging from habitually wearing surgical masks for a cold or flu to comprehensive education on how illnesses are transmitted. These efforts proved crucial when the ongoing COVID-19 pandemic began in Wuhan, China. Hong Kong acted swiftly and decisively to implement proper social distancing measures and other precautions, never allowing the infecti...