What is "family income" and how does its definition and measurement affect estimates of income inequality in the United States? Nancy Folbre addresses these questions in a brief research note published by Washington Center for Equitable Growth. In the essay, she explains how the value of non-market work and intra-family transfers (typically omitted from consideration) lead to significant differences in the living standards of families with exactly the same market income.

Losses in private mortgage backed securities were at the epicenter of the financial crisis from 2007-2009. This paper by Thomas Herndon examines two features of mortgage fraud contributing to the financial crisis. It first accounts for total losses from foreclosure due to no/low documentation "Liar's Loans." It then estimates what portion of these losses can be considered excessive. Herndon finds that losses caused by fraud in Liar's Loans are substantial, prolonged, and concentrated in economically fragile neighborhoods. Specifically, Liar's Loans account for $345 billion of the $500 billion of total losses, $125 billion of which can be considered excessive.

Judy Fogg has been an integral part of everything PERI has done, beginning in 2001 and continuing right up to her retirement at the end of this past June.  Her levels of both competence and commitment to PERI were always phenomenal.  Even more important, Judy has been a great friend to everyone who was fortunate enough to engage with her in any capacity at PERI.  We will miss Judy greatly, but wish her only the best in all the many things she will be pursuing now that she is unchained from the PERI shackles.