scholarly journals The economic expansion in the US since 2009 and Donald Trump's ambitions to ‘drain the swamp’

Author(s):  
Trevor Evans
Keyword(s):  

Subject Prospects for the US economy to end 2019. Significance The strong US labour market and low borrowing costs for businesses and individuals are helping to sustain the decade-long economic expansion. GDP grew by more than 3% in January-March, the third quarter out of four in which it was above 3%. The lacklustre housing market, softening manufacturing sector and rising consumer financial stress may dampen economic growth in the rest of 2019, taking it to 2.3-2.5% for the year.


2001 ◽  
Vol 31 (122) ◽  
pp. 31-45 ◽  
Author(s):  
Trevor Evans

Although the most recent US economic expansion began in 1991, rapid growth and job creation only date from 1996. This faster growth was driven principally be consumer demand, but while the stock market bubble that developed from 1996 might explain spending by upperincome groups, most share holdings are small. A more significant financial factor behind the boom has been the rapid growth of borrowing by both companies and households, whose debts now stand at a record high. This borrowing has been financed by massive inflows of financial capital from abroad, and the possibility that these could turn around is the greatest threat facing the US economy as the expansion comes to an end.


2020 ◽  
Vol 21 (4) ◽  
pp. 1149-1164 ◽  
Author(s):  
Daiva Jurevičienė ◽  
Viktorija Skvarciany ◽  
Austė Lagunavičiūtė

It is essential to look at financial crises from both theoretical and practical aspects, as this is an old and recurring phenomenon. However, it is still unknown how to manage their formation. The article aims at assessing the influence of individuals’ financial decisions on financial crisis formation. The interface between economic decisions made by individuals and financial crises is assessed using expert evaluation method. The multi-criteria estimation performed using the TOPSIS method to evaluate when individuals make the most irrational decisions. Moreover, finally, economic decisions rationality index is concluded, evaluating when individuals make ridiculous decisions. The rationality index of economic decisions measures the number of irrational decisions during the economic expansion. Economic decisions rationality index divided into three groups: economic factors, financial sector and psychological factors. Assessment of the irrational decisions made during the economic expansion demonstrates that during the first period (2001–2006) the least irrational decisions were made in 2001 and the most in 2004; while during the second period (2010–2017), the least irrational decisions were made in 2011 and the most in 2015. The limitation of the research is that the data is accessible only for the US; hence, the results could differ in other countries.


2007 ◽  
Vol 37 (146) ◽  
pp. 129-137 ◽  
Author(s):  
Trevor Evans

The US economic expansion which began in 2002 has been strongly driven by consumer spending financed by borrowing against sharply rising house prices. But the house-price boom came to an end in early 2006, raising fears of a new recession. Until now, house prices have stopped rising rather than actually falling, and higher employment and earnings are helping to prevent a collapse of consumption. But as earnings begin to rise, the corporate sector might find it difficult to sustain the current record levels of profitability, and if it responds by cutting back investment, this could signal the end of the current expansion.


1981 ◽  
Vol 3 (1-2) ◽  
pp. 205-212 ◽  
Author(s):  
L.R. Klein

2004 ◽  
Vol 32 (1) ◽  
pp. 181-184
Author(s):  
Amy Garrigues

On September 15, 2003, the US. Court of Appeals for the Eleventh Circuit held that agreements between pharmaceutical and generic companies not to compete are not per se unlawful if these agreements do not expand the existing exclusionary right of a patent. The Valley DrugCo.v.Geneva Pharmaceuticals decision emphasizes that the nature of a patent gives the patent holder exclusive rights, and if an agreement merely confirms that exclusivity, then it is not per se unlawful. With this holding, the appeals court reversed the decision of the trial court, which held that agreements under which competitors are paid to stay out of the market are per se violations of the antitrust laws. An examination of the Valley Drugtrial and appeals court decisions sheds light on the two sides of an emerging legal debate concerning the validity of pay-not-to-compete agreements, and more broadly, on the appropriate balance between the seemingly competing interests of patent and antitrust laws.


2000 ◽  
Vol 16 (2) ◽  
pp. 107-114 ◽  
Author(s):  
Louis M. Hsu ◽  
Judy Hayman ◽  
Judith Koch ◽  
Debbie Mandell

Summary: In the United States' normative population for the WAIS-R, differences (Ds) between persons' verbal and performance IQs (VIQs and PIQs) tend to increase with an increase in full scale IQs (FSIQs). This suggests that norm-referenced interpretations of Ds should take FSIQs into account. Two new graphs are presented to facilitate this type of interpretation. One of these graphs estimates the mean of absolute values of D (called typical D) at each FSIQ level of the US normative population. The other graph estimates the absolute value of D that is exceeded only 5% of the time (called abnormal D) at each FSIQ level of this population. A graph for the identification of conventional “statistically significant Ds” (also called “reliable Ds”) is also presented. A reliable D is defined in the context of classical true score theory as an absolute D that is unlikely (p < .05) to be exceeded by a person whose true VIQ and PIQ are equal. As conventionally defined reliable Ds do not depend on the FSIQ. The graphs of typical and abnormal Ds are based on quadratic models of the relation of sizes of Ds to FSIQs. These models are generalizations of models described in Hsu (1996) . The new graphical method of identifying Abnormal Ds is compared to the conventional Payne-Jones method of identifying these Ds. Implications of the three juxtaposed graphs for the interpretation of VIQ-PIQ differences are discussed.


2020 ◽  
Vol 36 (2) ◽  
pp. 427-431
Author(s):  
Aurelie M. C. Lange ◽  
Marc J. M. H. Delsing ◽  
Ron H. J. Scholte ◽  
Rachel E. A. van der Rijken

Abstract. The Therapist Adherence Measure (TAM-R) is a central assessment within the quality-assurance system of Multisystemic Therapy (MST). Studies into the validity and reliability of the TAM in the US have found varying numbers of latent factors. The current study aimed to reexamine its factor structure using two independent samples of families participating in MST in the Netherlands. The factor structure was explored using an Exploratory Factor Analysis (EFA) in Sample 1 ( N = 580). This resulted in a two-factor solution. The factors were labeled “therapist adherence” and “client–therapist alliance.” Four cross-loading items were dropped. Reliability of the resulting factors was good. This two-factor model showed good model fit in a subsequent Confirmatory Factor Analysis (CFA) in Sample 2 ( N = 723). The current finding of an alliance component corroborates previous studies and fits with the focus of the MST treatment model on creating engagement.


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