The Disconnect Between Corporate Borrowing and Investment

This paper provides evidence that the strong empirical relationship of corporate cash flow and borrowing to productive corporate investment has disappeared in the last 30 years and has been replaced with corporate funds and shareholder payouts. Whereas firms once borrowed to invest and improve their long-term performance, they now borrow to enrich their investors in […]

A Gender Gap in Economic Security for Seniors

Recently I wrote about how seniors have been left out of the debate about income inequality despite their high poverty rates, which increase with age, leaving the oldest Americans the most economically vulnerable. Although many seniors are financially well off, and enjoying their golfing years, other data drive home just how economically fragile many seniors are: * In […]

Is your adviser truly protecting your retirement?

There’s a discussion going on that is vital to the retirement money you’ve worked so hard to save.The Labor Department, directed by the Obama administration, is proposing that more advisers, when giving retirement investment advice, put their clients’ best interests first. You’re probably thinking what I thought after learning about this: Wait, these advisers aren’t […]