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Series:Current Issues in Economics and Finance 

Journal Article
New York - New Jersey job expansion to continue in 2000

Employment growth in the New York-New Jersey region in 2000 is expected to reach 1.8 percent, or 290,000 new jobs--continuing a seven-year expansion trend. However, some moderation in the growth in the national economy over the second half of 2000 may slow the region's job growth and prevent it from matching last year's rate.
Current Issues in Economics and Finance , Volume 6 , Issue Apr

Journal Article
Curbing unemployment in Europe: are there lessons from Ireland and the Netherlands?

Since the mid-1980s, unemployment rates in Ireland and the Netherlands have plummeted, while the average rate for the European Union has maintained its longtime high level. Ambitious labor market reforms_including wage moderation and the tightening of unemployment benefits_have helped to bring the Irish and Dutch rates down. Other European countries would benefit from adopting similar reforms, but they are unlikely to see the same dramatic improvement in their unemployment numbers.
Current Issues in Economics and Finance , Volume 7 , Issue May

Journal Article
Economic restructuring in New York State

When economic activity slows down, labor markets may undergo extensive structural change-the permanent reallocation of workers across industries. Job losses can be heavy, and creating new jobs and retraining displaced workers to fill them can take time. A high degree of restructuring may help to explain why New York State's most recent downturn persisted for well over two years. Subseries: Second District Highlights.
Current Issues in Economics and Finance , Volume 10 , Issue Jun

Journal Article
A nation of spendthrifts? An analysis of trends in personal and gross saving

The steep drop in the U.S. personal saving rate over the last decade has fueled speculation that Americans are spending recklessly. But alternative measures of personal saving show that households are actually setting aside a larger share of their resources than the official figures suggest. In addition, government saving has risen markedly, leading to an increase in overall domestic saving that has helped finance a surge in U.S. investment.
Current Issues in Economics and Finance , Volume 6 , Issue Sep

Journal Article
Credit risk in Japan's corporate bond market

From the fall of 1997 to the spring of 1999, yield spreads in Japan's corporate bond market increased sharply. An analysis of this rapid rise suggests that Japanese investors in corporate bonds may be paying closer attention to the credit risk of individual issuers. Such a shift in investor focus would represent a major change in the structure of this market.
Current Issues in Economics and Finance , Volume 5 , Issue Nov

Journal Article
After the refinancing boom: will consumers scale back their spending?

Concerns are rising that the recent surge in home equity withdrawal has left consumers in a weakened financial position that will, over time, prompt a retrenchment in spending. However, a look at household assets and liabilities suggests that consumers have used the withdrawn funds to restructure their balance sheets and reduce their debt service burden. As a result, households may be in a better position to spend in the years ahead.
Current Issues in Economics and Finance , Volume 9 , Issue Dec

Journal Article
How economic news moves markets

Exploring how the release of new economic data affects asset prices in the stock, bond, and foreign exchange markets, the authors find that only a few announcements - the nonfarm payroll numbers, the GDP advance release, and a private sector manufacturing report - generate price responses that are economically significant and measurably persistent. Bond yields show the strongest response and stock prices the weakest. The authors' analysis of the direction of these effects suggests that news of stronger-than-expected growth and inflation generally prompts a rise in bond yields and the exchange ...
Current Issues in Economics and Finance , Volume 14 , Issue Aug

Journal Article
Is the United States losing its productivity advantage?

Strikingly high rates of labor productivity growth in China, India, and other emerging economies have prompted concerns that U.S. workers and firms are losing ground to their competitors in world markets. A closer look at the evidence, however, suggests that rapid foreign productivity growth will bring gains as well as losses to the U.S. economy. Some import-competing firms may be compelled to restructure or leave the market, but consumers will benefit from lower import prices and more import varieties, and U.S. exporters may gain access to cheaper intermediate products from abroad.
Current Issues in Economics and Finance , Volume 13 , Issue Sep

Journal Article
New York state's merchandise export gap

New York's merchandise export performance has trailed the nation's for several years. The cause of this gap is not easy to identify: the state maintains a relatively healthy mix of customer markets, remains well represented in industries with strong foreign demand, and continues to enjoy declining labor costs. A broader look at New York's competitiveness, however, reveals that high nonlabor costs may be hurting the state's manufacturing sector and thus its volume of exports.
Current Issues in Economics and Finance , Volume 2 , Issue Nov

Journal Article
Monetary policy implementation: common goals but different practices

While the goals that guide monetary policy in different countries are very similar, central banks diverge in their methods of implementing policy. This study of the policy frameworks of four central banks?the Federal Reserve, the European Central Bank, the Bank of England, and the Swiss National Bank?focuses on two notable areas of difference. The first is the choice of an interest rate target, a standard feature of conventional monetary policy. The second is the choice of instruments for managing the central banks? expanded balance sheets?a decision made necessary by the banks? ...
Current Issues in Economics and Finance , Volume 17 , Issue Nov

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