Search Results

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Journal Article
Disappointing Facts about the Black-White Wage Gap
Pedtke, Joseph H.; Hobijn, Bart; Daly, Mary C. (2017)
More than half a century since the Civil Rights Act became law, U.S. workers continue to experience different levels of success depending on their race. Analysis using microdata on earnings shows that black men and women earn persistently lower wages compared with their white counterparts and that these gaps cannot be fully explained by differences in age, education, job type, or location. Especially troubling is the growing unexplained portion of the divergence in earnings for blacks relative to whites.
FRBSF Economic Letter

Journal Article
Commodity prices and PCE inflation
Hobijn, Bart; Raina, Rachna; Hale, Galina (2012)
Commodity prices have soared several times in recent years, raising concerns that overall inflation could rise substantially. However, crops, oil, and natural gas make up only about 5% of the cost of U.S. consumer goods and services. Thus, about one percentage point of the 10% cumulative inflation since 2007 reflects price rises in these important commodity categories. When the contribution of these commodities is subtracted from overall inflation, the resulting pattern is remarkably similar to that of core inflation, which excludes food and energy prices.
FRBSF Economic Letter

Journal Article
The Tech Pulse Index: recent trends in tech-sector activity
Hobijn, Bart (2009)
This Economic Letter introduces the new Tech Pulse Index, a measure that tracks economic activity in the U.S. information technology (IT) sector. The index first appeared under the sponsorship of the Federal Reserve Bank of New York; due to substantial revisions of the econometric model and source data used in the current version, it is not directly comparable to versions released by the New York Fed before August 2008. Starting January 14, 2009, the index will be published every second Wednesday of the month by the San Francisco Fed's CSIP (Center for the Study of Innovation and ...
FRBSF Economic Letter

Journal Article
Commodity price movements and PCE inflation
Hobijn, Bart (2008-11)
With the recent run-up in crop and energy prices - and the subsequent sharp reversal of these trends - the effects of commodity price movements on U.S. inflation merit renewed attention. A study of the contributions of grain and oil prices to the PCE index of inflation suggests that the effects are more modest than one might expect. Moreover, commodity price increases affect relatively few goods prices: Higher crop prices translate narrowly into price hikes for food, tobacco, and gardening supplies; rising oil prices mainly influence fuel, energy, and transportation prices.
Current Issues in Economics and Finance , Volume 14 , Issue Nov

Journal Article
The wage growth gap for recent college grads
Hobijn, Bart; Bengali, Leila (2014)
Median starting wages of recent college graduates have not kept pace with median earnings for all workers over the past six years. This type of gap in wage growth also appeared after the 2001 recession and closed only late in the subsequent labor market recovery. However the wage gap in the current recovery is substantially larger and has lasted longer than in the past. The larger gap represents slow growth in starting salaries for graduates, rather than a shift in types of jobs, and reflects continued weakness in the demand for labor overall.
FRBSF Economic Letter

Searching for “Inflation Canaries” in Household Surveys
Brave, Scott A.; Henken, Ben; Hobijn, Bart; Karger, Ezra; Paulson, Anna L.; Royal, Jim (2024-10)
Current surveys of household inflation expectations make it challenging to identify “inflation canaries”—individuals who consistently send out early and accurate warning signals for inflation. We propose some simple changes in survey design (longer, staggered survey panels) and emphasis (focusing on changes in expectations rather than levels and highlighting particularly accurate subpopulations) that have the potential to alleviate these concerns. To demonstrate, we provide several examples using the Federal Reserve Bank of New York’s Survey of Consumer Expectations.
Chicago Fed Insights , Paper 503

Working Paper
The Dual U.S. Labor Market Uncovered
Ahn, Hie Joo; Hobijn, Bart; Şahin, Ayşegül (2023-05-05)
Aggregate U.S. labor market dynamics are well approximated by a dual labor market supplemented with a third, predominantly, home-production segment. We uncover this structure by estimating a Hidden Markov Model, a machine-learning method. The different market segments are identified through (in-)equality constraints on labor market transition probabilities. This method yields time series of stocks and flows for the three segments for 1980-2021. Workers in the primary sector, who make up around 55 percent of the population, are almost always employed and rarely experience unemployment. The ...
Working Paper Series , Paper WP 2023-18

Journal Article
Gauging the momentum of the labor recovery
Hobijn, Bart; Bradshaw, Benjamin; Daly, Mary C. (2013)
Federal Reserve policymakers are watching a broad set of indicators for signs of ?substantial? labor market improvement, a key consideration for beginning to scale back asset purchases. One way to find which are most useful is to focus on how well movements in these indicators predict changes in the unemployment rate. Research suggests that six indicators are most promising. They offer evidence that the recovery has more momentum now than a year ago, a strong signal that the labor market is improving and could accelerate in coming months.
FRBSF Economic Letter

Journal Article
Why has wage growth stayed strong?
Hobijn, Bart; Lucking, Brian; Daly, Mary C. (2012)
Despite a severe recession and modest recovery, real wage growth has stayed relatively solid. A key reason seems to be downward nominal wage rigidities, that is, the tendency of employers to avoid cutting the dollar value of wages. This phenomenon means that, in nominal terms, wages tend not to adjust downward when economic conditions are poor. With inflation relatively low in recent years, these rigidities have limited reductions in the real wages of a large fraction of U.S. workers.
FRBSF Economic Letter

Report
Job-finding and separation rates in the OECD
Sahin, Aysegul; Hobijn, Bart (2007)
In this paper, we provide a set of comparable estimates of aggregate monthly job-finding and separation rates for twenty-seven OECD (Organisation for Economic Co-operation and Development) countries; these estimates can be used for the cross-country calibration of search models of unemployment. We find that cross-country differences in job-finding rates are much greater than those in separation rates. Our results are quantitatively and qualitatively in line with those published in previous studies; however, they cover a much larger set of countries. We combine our estimates with evidence on ...
Staff Reports , Paper 298

show more (35)

PREVIOUS / NEXT

Fed in Print

Search Results

FILTER BY year

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

FILTER BY Keywords