Links 5 December 2013

Global Macro / Markets:

• New Brookings Center to Study Clash Between Fiscal and Monetary Policy – Wall Street Journal
• Some Observations on the Efficacy of Monetary and Fiscal Policy – Econbrowser
• $20bn pulled from emerging markets over taper concerns – The AFR

North America:

• Beige Book – December 4, 2013 – Federal Reserve
• U.S. Banks Again Fail to Comply With Parts of Mortgage Settlement – Wall Street Journal
• New Home Sales increased to 444,000 Annual Rate in October – Calculated Risk
• Wall Street Sweats Out Volcker Rule With 18% of Revenue in Play – Bloomberg
• Regulators Set to Approve Toughened ’Volcker Rule’ – Wall Street Journal

Europe:

• What to Expect From ECB Meeting – Wall Street Journal
• EU fines banks €1.7bn for fixing global interest rates – Financial Times
• EU fines financial institutions a record $2.32 billion over fixing key benchmarks – Wall Street Journal
• Ireland Recoups Bank of Ireland Bailout After Preferred Sale – Bloomberg
• Draghi Says Europe No Japan as Crisis Spurs Price Cuts – Bloomberg
• Deflation Trap Tests Riksbank’s Resolve in Fighting Bubbles – Bloomberg
• Europe to unleash heavy rate-fixing fines – Financial Times

Asia:

• Japan economic package to total $182 billion: sources – Reuters

Local:

• PM says he hasn’t dropped the ball on reform – The AFR
• Report calls the end of mining mega deals – The AFR
• Abbott: be patient on reform – The AFR
• Abbott pulls out big guns – The Australian
• Napthine backs big as better for cars – The AFR
• Abbott’s ton of pressure – The Age
• Gas prices rising faster than expected – The Age
• Migration response to ageing boomers – The Australian
• Reform needed as world rankings slide – The Australian
• Blame game distracts from governing – The Australian
• Keeping public transport on the rails – Business Spectator
• Wayne Swan: A growth record to be proud of – Business Spectator
• Science cuts risk “brain drain” – The Guardian

Other:

• The Minimum Wage and the Laws of Economics – New York Times
• The Honest Broker: Is Growth Getting Harder? If so, Why, and What Can We Do About It? – Equitable Growth