Search Results

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Journal Article
The breadth of disinflation
Hobijn, Bart; Gardiner, Colin (2010)
In recent months, inflation as measured by the personal consumption expenditures price index has been trending lower. This slowdown, known as disinflation, has raised concerns that inflation might actually drop below zero and enter a period of deflation. An examination of the distribution of inflation rates across the range of goods and services that compose the index suggests that downward pressures on inflation are relatively high by historical standards.
FRBSF Economic Letter

Journal Article
The U.S. content of “Made in China”
Hobijn, Bart; Hale, Galina (2011)
Goods and services from China accounted for only 2.7% of U.S. personal consumption expenditures in 2010, of which less than half reflected the actual costs of Chinese imports. The rest went to U.S. businesses and workers transporting, selling, and marketing goods carrying the "Made in China" label. Although the fraction is higher when the imported content of goods made in the United States is considered, Chinese imports still make up only a small share of total U.S. consumer spending. This suggests that Chinese inflation will have little direct effect on U.S. consumer prices.
FRBSF Economic Letter

Working Paper
The Outlook for U.S. Labor-Quality Growth
Fernald, John G.; Daly, Mary C.; Hobijn, Bart; Bosler, Canyon (2016-07-11)
Over the past 15 years, labor-quality growth has been very strong?defying nearly all earlier projections?and has added around 0.5 percentage points to an otherwise modest U.S. productivity picture. Going forward, labor quality is likely to add considerably less and may even be a drag on productivity growth in the medium term. Using a variety of methods, we project that potential labor-quality growth in the longer run (7 to 10 years out) is likely to fall in the range of 0.1 to 0.25 percent per year. In the medium term, labor-quality growth could be lower or even negative, should employment ...
Working Paper Series , Paper 2016-14

Journal Article
The housing drag on core inflation
Hobijn, Bart; Tambalotti, Andrea; Eusepi, Stefano (2010)
Some analysts have raised the question of whether the unprecedented declines in house values, which have been the hallmark of the recent recession, might be artificially dampening core inflation readings. However, a close examination of recent inflation data shows that the weakness in housing costs is representative of a broad pattern of subdued price increases across most consumption goods and services and is not distorting the broad downward trend in core inflation measures.
FRBSF Economic Letter

Working Paper
Household inflation experiences in the U.S.: a comprehensive approach
Mayer, Kristin; Stennis, Carter; Topa, Giorgio; Hobijn, Bart (2009)
We present new measures of household-specific inflation experiences based on comprehensive information from the Consumer Expenditure Survey (CEX). We match households in the Interview and the Diary Surveys from the CEX to produce both complete and detailed pictures of household expenditures. The resulting household inflation measures are based on a more accurate and detailed description of household expenditures than those previously available. We find that our household-based inflation measures track aggregate measures such as the CPI-U quite well and that the addition of Diary Survey data ...
Working Paper Series , Paper 2009-19

Working Paper
The Shifting Reasons for Beveridge-Curve Shifts
Barlevy, Gadi; Hobijn, Bart; Faberman, R. Jason; Sahin, Aysegul (2023-10)
We discuss how the relative importance of factors that contribute to movements of the U.S. Beveridge curve has changed from 1960 to 2023. We review these factors in the context of a simple flow analogy used to capture the main insights of search and matching theories of the labor market. Changes in inflow rates, related to demographics, accounted for Beveridge curve shifts between 1960 and 2000. A reduction in matching efficiency, that depressed unemployment outflows, shifted the curve outwards in the wake of the Great Recession. In contrast, the most recent shifts in the Beveridge curve ...
Working Paper Series , Paper WP 2023-38

Journal Article
What will homeland security cost?
Hobijn, Bart (2002-11)
The increased spending on security by the public and private sectors in response to September 11 could have important effects on the U.S. economy. Sizable government expenditures, for example, could trigger a rise in the cost of capital and wages and a reduction in investment and employment in the private sector, while large-scale spending by businesses could hamper firm productivity. This article attempts to quantify the likely effects of homeland security expenditures on the economy. It suggests that the total amount of public- and private-sector spending will be relatively small: the ...
Economic Policy Review , Volume 8 , Issue Nov , Pages 21-33

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
Cap rates and commercial property prices
Hobijn, Bart; Lang, David; Krainer, John (2011)
Commercial real estate capitalization rates have been found to be good indicators of expected returns in commercial properties. Recent declines in these cap rates appear to be signaling a commercial real estate rebound, indicating improved investor expectations of price growth in the market. Movements in national cap rates are the predominant drivers of changes in cap rates in local markets. Therefore, the anticipated commercial real estate rebound is likely to be widespread across many metropolitan areas.
FRBSF Economic Letter

Journal Article
Social security and the consumer price index for the elderly
Lagakos, David; Hobijn, Bart (2003-05)
Some argue that social security benefits should be adjusted using a price index that reflects the spending habits of the elderly rather than those of workers. This study suggests that if such an index were adopted today, over the next forty years benefit levels would increase and the social security trust fund could become insolvent up to five years sooner than projected.
Current Issues in Economics and Finance , Volume 9 , Issue May

show more (27)

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