Econintersect: Click Read more >> below graphic to see today's list.

The top of today's reading list has Yahoo!'s vow to not srew up Tumblr ........ and the last article is about a huge pile of Canadian tars sands refuse collecting in Detroit.

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by Jaison R. Abel and Richard Deitz - Liberty Street Economics, Federal Reserve Bank of New York

Although the unemployment rate of workers with a college degree has remained well below average since the Great Recession, there is growing concern that college graduates are increasingly underemployed—that is, working in a job that does not require a college degree or the skills acquired through their chosen field of study.

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by Jun Nie and Lisa Taylor, Federal Reserve Bank of Kansas City

Export growth is an important source of aggregate growth in the U.S. economy. Indeed the importance of exports in contributing to U.S. economic growth has risen steadily over the past three decades, with exports nearly doubling as a share of GDP. Export growth has been championed in recent years as a key driver for the country’s ongoing economic recovery.

But exports of goods and services produced in the United States depend crucially on foreign demand. When foreign economic growth is low, foreign demand tends to be weak as people have less income to purchase U.S. goods and services. In this way, lower foreign growth may lead to less growth in U.S. exports.

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So many variables play into determining where to set up shop for a small business, and how favorable local government is to business surely warrants consideration.

In this infographic, we break down the best and worst states to do business in based on the Tax Foundation’s 2011 Business Tax Climate Index. Of course, many, many other factors serve important roles in influencing the location for a small business (e.g. population density, local culture, climate, etc.), so while tax law draws attention, it’s certainly not the deciding factor.

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Monetary Policy Week in Review – May 18, 2013: Israel, Turkey, Serbia cut, five hold as BOJ easing reverberates

by Peter Nielsen, Central Bank News

This week eight central banks took policy decisions with three banks cutting rates (Israel, Serbia and Turkey) and five leaving rates on hold (Indonesia, Iceland, Russia, Latvia and Chile) as the Bank of Japan’s (BOJ) monetary easing continues to impact monetary policy decisions worldwide.

This week’s rate reduction by Israel and Turkey brings it to a total of five rate cuts in reaction to the BOJ’s new phase of monetary easing, which has lead to a drop in the value of the yen and raised fears of an accelerated influx of capital into higher-yielding currencies, threatening to create asset bubbles.

Prior to this week’s cuts, Australia and Korea had cut rates, specifically mentioning foreign exchange as part of their reasoning, while Turkey has now cut rates twice since the BOJ's announcement on April 4, in both cases pointing to strong capital inflows.

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