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Opinion | The Gender Pay Gap Is a Culture Problem
  + stars: | 2024-05-22 | by ( Jessica Grose | ) www.nytimes.com   time to read: +1 min
American women made significant progress toward closing the gender pay gap in the second half of the 20th century, but that gap has barely budged over the past two decades. In 2022, according to Pew Research, “American women typically earned 82 cents for every dollar earned by men. While there are several factors at play, one of the key contributors to the gap is what’s known as the motherhood penalty and the corresponding fatherhood premium: Women’s pay decreases when they have children, while men’s pay increases. Somewhat surprisingly to me, his research, which builds on years of earlier scholarship, suggests that a country’s family policy has relatively little to do with how big the parenthood pay gap is. A society’s culture and norms seem to be much bigger factors in how big the motherhood penalty is: The more egalitarian the culture, the lower the gap.
Persons: don’t, , Henrik Kleven, Camille Landais, Gabriel Leite Organizations: Pew Research, of Economic Research
REUTERS/Robert Galbraith/File Photo Acquire Licensing RightsORLANDO, Florida, Aug 30 (Reuters) - To buy back, or not to buy back. The highest U.S. interest rates in over 20 years coupled with Wall Street's remarkable resilience has brought an old boardroom dilemma into sharp focus: are share buybacks worth it? Ditto Apple, Chevron, Alphabet and Wells Fargo, which this year have announced buybacks of $90 billion, $75 billion, $70 billion and $30 billion, respectively. Figures from Refinitiv show that S&P 500 companies spent more than $6 trillion on stock buybacks in the decade through 2022. Reuters Image Acquire Licensing Rights(The opinions expressed here are those of the author, a columnist for Reuters.)
Persons: Robert Galbraith, Joe Kleven, Ali Ragih, Nicholas Guest, Kothari, Parth Venkat, Jamie McGeever Organizations: Nvidia, REUTERS, Rights, U.S, Chevron, Mega Tech, Marathon Petroleum, VerityData, Reuters, Apple, Microsoft, Google, Corporate, Cornell University, S.P, Massachusetts Institute of Technology, University of Alabama, Thomson, & ' $ Locations: Santa Clara , California, Rights ORLANDO , Florida, Wells, YCharts, VerityData, U.S, underperformed
Even taking into account the dotcom bust and market crash following the 1999-2000 cycle, stocks still shone brighter. The average return of a 100% equity portfolio was 12.75%, an all-bond portfolio returned 9.10%, and a 60/40 portfolio generated 11.09% on average. Equities returned around 26% in the year after the Fed stopped tightening, bonds between 6-8%, and a 60/40 portfolio around 18%. Blended together, a 60/40 portfolio generated double-digit returns after five of these six cycles, including 25% in the mid-1990s. No two economic cycles, Fed reaction functions, inflationary dynamics or asset price dynamics are the same.
Persons: Joe Kleven, Kleven, Paul Volcker, Shelly Simpson, Simpson, Jamie McGeever, Andrea Ricci Organizations: Fed, Nasdaq, NYSE, Mega Tech, ICE, Treasury, Reuters, Thomson Locations: ORLANDO, Florida
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