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Journal Article
Cheaper crude oil affects consumer prices unevenly
The recent crude oil price decline is reflected in lower pump prices for gasoline. Other consumer prices are also affected, but the impact and the speed of transmission vary considerably.
Journal Article
Foreign direct investment: financial benefits could surpass gains in technology
Many emerging markets offer financial incentives to attract foreign direct investment, believing that such investment provides advanced technology or management skills. However, it appears developing economies such as China could benefit more from multinational corporations? financial resources.
Journal Article
One-size-fits-all monetary policy: Europe and the U.S.
In the eyes of the skeptics, each country is better off setting its own interest rates at levels appropriate for local conditions.
Journal Article
Value-added data recast the U.S.-China trade deficit
Value-added trade data provide a needed complementary measure to conventional compilations to aid in the understanding of bilateral interdependence.
Journal Article
Bringing banking to the masses, one phone at a time
More than half of the world?s adult population lacks access to formal financial services. The proportion is greater in developing countries, where 64 percent on average do not have bank accounts, compared with 17 percent in developed nations. Mobile communications technology is fast becoming a conduit of change. Cell phone subscriptions have mushroomed to cover 75 percent of the global population, enabling mobile banking networks to sprout and reach the unbanked, disproportionately in developing nations.
Journal Article
Global and National Shocks Explain A Large Share of State Job Growth
Global and U.S. national shocks on average appear to equally explain more than half of the fluctuations in state employment growth, an important measure of assessing real economic activity. The overall assessment, however, conceals a wide variation among states.
Journal Article
China's slowdown may be worse than official data suggest
To get a more accurate picture of China's economy, economists examine other measures of activity that closely track growth but are less prone to political interference than output data. Industrial electricity consumption, a major production input, serves as such a proxy.
Journal Article
Global, National Business Cycles and Energy Explain Texas Metro Growth
A mix of global, national and state-specific shocks help drive employment fluctuations between U.S. states. Econometric modeling shows such differences among metropolitan areas also reflect a mix of shocks. Texas cities strongly tied to oil and gas activity appear more affected by energy-sector shocks than other metros in the state.
Journal Article
Asia recalls 1997 crisis as investors await Fed tapering
Asian economies now appear better positioned to deal with adverse external financial shocks.
Journal Article
A historical look at the labor market during recessions
Turmoil in housing, credit and financial markets plunged the U.S. economy into a recession that has taken a heavy toll on the labor market. The weakness that began during the second half of 2007 gravely worsened during a period of extreme financial stress in 2008, and the labor market has yet to recover. To put the recession's labor-market impact into perspective, we compare the past two years to previous downturns, including the Great Depression. We also examine the data commonly used to assess labor market conditions. While unemployment rates and nonfarm payroll losses are widely reported, ...