Search Results
Showing results 1 to 10 of approximately 56.
(refine search)
Working Paper
The City Paradox: Skilled Services and Remote Work
Ganapati, Sharat; Walsh, Conor; Eckert, Fabian
(2020-12-03)
Large cities in the US are the most expensive places to live. Paradoxically, this cost is paid disproportionately by workers who could work remotely, and live anywhere. The greater potential for remote work in large cities is mostly accounted for by their specialization in skill- and information-intensive service industries. We highlight that this specialization makes these cities vulnerable to remote work shocks. When high-skill workers begin to work from home or leave the city altogether, they withdraw spending from local consumer service industries that rely heavily on their demand. As a ...
Opportunity and Inclusive Growth Institute Working Papers
, Paper 43
Working Paper
Dotcom Price Spiral
Sampaio, Joelson Oliveira; Pinheiro, Roberto; de Carvalho, Antonio Gledson
(2017-07-25)
We show that during the bubble implied growth rates coming from the underpricing of IPO market explains short term returns on the NASDAQ index. This result remains even if we replace actual underprice for others different instruments for underpricing that are based on predetermined variables and not correlated to market returns. We also do placebo tests to assess the relation between underpricing and NASDAQ returns over other periods. We show that growth proxies that are not contaminated by the booms and busts of the stock market are uncorrelated with the returns on the NASDAQ index in ...
Working Papers (Old Series)
, Paper 1713
Working Paper
Markets, Externalities, and the Dynamic Gains of Openness
Monge-Naranjo, Alexander
(2016-10-01)
Inflows of foreign knowledge are the key for developing countries to catch up with the world technology frontier. In this paper, I construct a simple tractable model to analyze (a) the incentives of foreign firms to bring their know-how to a developing country and (b) the incentives of domestic firms to invest in their own know-how, given the exposure to foreign ideas and competition. The model embeds two diffusion mechanisms typically considered separately in the literature: externalities and markets. The dynamic gains of openness can be substantial under either mechanism, but their relative ...
Working Papers
, Paper 2016-23
Working Paper
The Evolution of Technological Substitution in Low-Wage Labor Markets
Phelan, Brian J.; Aaronson, Daniel
(2022-03-01)
This paper uses minimum wage hikes to evaluate the susceptibility of low-wage employment to technological substitution. We find that automation is accelerating and supplanting a broader set of low-wage routine jobs in the decade since the Financial Crisis. Simultaneously, low-wage interpersonal jobs are increasing and offsetting routine job loss. However, interpersonal job growth does not appear to be enough – as it was previous to the Financial Crisis – to fully offset the negative effects of automation on low-wage routine jobs. Employment losses are most evident among minority workers ...
Working Paper Series
, Paper WP-2020-16
Working Paper
Slow Post-Financial Crisis Recovery and Monetary Policy
Ikeda, Daisuke; Kurozumi, Takushi
(2018-10-01)
Post-financial crisis recoveries tend to be slow and be accompanied by slowdowns in TFP and permanent losses in GDP. To prevent them, how should monetary policy be conducted? We address this issue by developing a model with endogenous TFP growth in which an adverse financial shock can induce a slow recovery. In the model, a welfare-maximizing monetary policy rule features a strong response to output, and the welfare gain from output stabilization is much larger than when TFP expands exogenously. Moreover, inflation stabilization results in a sizable welfare loss, while nominal GDP ...
Globalization Institute Working Papers
, Paper 347
Working Paper
Knowledge Diffusion, Trade and Innovation across Countries and Sectors
Li, Nan; Santacreu, Ana Maria; Cai, Jie
(2020-02-28)
We provide a unified framework for quantifying the cross-country and cross-sector interactions among trade, innovation, and knowledge diffusion. We study the effect of trade liberalization in an endogenous growth model in which comparative advantage and the stock of knowledge are determined by innovation and diffusion. We calibrate the model to match observed cross-country and cross-sector heterogeneity in production, innovation efficiency and knowledge spillovers. Our counterfactual analysis shows that a reduction in trade costs induces a re-allocation of R&D and comparative advantage across ...
Working Papers
, Paper 2017-029
Working Paper
The Geography of Business Dynamism and Skill Biased Technical Change
Rubinton, Hannah
(2021-02-26)
This paper seeks to explain several key components of the growing regional disparities in the U.S. since 1980: big cities saw a larger increase in the relative wages and relative supply of skilled workers, and a smaller decline in business dynamism. These trends can be explained by differences across cities in the extent to which firms adopt new skill-biased technologies. With the introduction of a new skill-biased, high fixed cost but low marginal cost technology, firms endogenously adopt more in big cities, cities that offer abundant amenities for high-skilled workers and cities that ...
Working Papers
, Paper 2020-020
Report
The equilibrium real policy rate through the lens of standard growth models
Wang, J. Christina; Sichel, Daniel E.
(2017-11-17)
The long-run equilibrium real policy rate is a key concept in monetary economics and an important input into monetary policy decision-making. It has gained particular prominence lately as the Federal Reserve continues to normalize monetary policy. In this study, we assess the evolution, current level, and prospective values of this equilibrium rate within the framework of standard growth models. Our analysis considers as a baseline the single-sector Solow model, but it places more emphasis on the multi-sector neoclassical growth model, which better fits the data over the past three decades. ...
Current Policy Perspectives
, Paper 17-6
Working Paper
International technology Diffusion: A Gravity Approach
Santacreu, Ana Maria
(2020-01-02)
This paper investigates, empirically, the determinants of international technology diffusion. To do that, I set up a multi-country model of innovation and diffusion with perfect enforcement of intellectual property rights (IPR). The model yields a gravity equation for bilateral royalty payments that is estimated using methods from empirical trade. I investigate discrepancies between model’s predictions and observed royalty payments to identify the role of fundamentals vs. other factors such as imperfect IPR protection. Fundamentals account for most of the variation in royalty payments, ...
Working Papers
, Paper 2019-031
Working Paper
Occupation Mobility, Human Capital and the Aggregate Consequences of Task-Biased Innovations
Monge-Naranjo, Alexander; Dvorkin, Maximiliano
(2019-04-23)
We construct a dynamic general equilibrium model with occupation mobility, human capital accumulation and endogenous assignment of workers to tasks to quantitatively assess the aggregate impact of automation and other task-biased technological innovations. We extend recent quantitative general equilibrium Roy models to a setting with dynamic occupational choices and human capital accumulation. We provide a set of conditions for the problem of workers to be written in recursive form and provide a sharp characterization for the optimal mobility of individual workers and for the aggregate supply ...
Working Papers
, Paper 2019-13
FILTER BY year
FILTER BY Bank
Federal Reserve Bank of St. Louis 21 items
Board of Governors of the Federal Reserve System (U.S.) 9 items
Federal Reserve Bank of Minneapolis 7 items
Federal Reserve Bank of Atlanta 5 items
Federal Reserve Bank of Chicago 4 items
Federal Reserve Bank of Cleveland 3 items
Federal Reserve Bank of San Francisco 3 items
Federal Reserve Bank of Boston 1 items
Federal Reserve Bank of Dallas 1 items
Federal Reserve Bank of New York 1 items
Federal Reserve Bank of Philadelphia 1 items
show more (6)
show less
FILTER BY Series
Working Papers 22 items
Finance and Economics Discussion Series 9 items
Working Paper Series 7 items
FRB Atlanta Working Paper 3 items
Opportunity and Inclusive Growth Institute Working Papers 3 items
Working Papers (Old Series) 3 items
Policy Hub 2 items
Review 2 items
Staff Report 2 items
Current Policy Perspectives 1 items
Globalization Institute Working Papers 1 items
Speech 1 items
show more (7)
show less
FILTER BY Content Type
Working Paper 48 items
Journal Article 3 items
Report 3 items
Discussion Paper 1 items
Speech 1 items
FILTER BY Author
Santacreu, Ana Maria 14 items
Byrne, David M. 5 items
Cai, Jie 3 items
Corrado, Carol 3 items
Li, Nan 3 items
Monge-Naranjo, Alexander 3 items
Pinheiro, Roberto 3 items
Sampaio, Joelson Oliveira 3 items
Sichel, Daniel E. 3 items
de Carvalho, Antonio Gledson 3 items
Aaronson, Daniel 2 items
Altig, David E. 2 items
Barrero, Jose Maria 2 items
Bloom, Nicholas 2 items
Davis, Steven J. 2 items
Eckert, Fabian 2 items
Ganapati, Sharat 2 items
Liu, Zheng 2 items
Luttmer, Erzo G. J. 2 items
Meyer, Brent 2 items
Parker, Nicholas B. 2 items
Phelan, Brian J. 2 items
Rubinton, Hannah 2 items
Shy, Oz 2 items
Walsh, Conor 2 items
Adão, Bernardino 1 items
Aizcorbe, Ana M. 1 items
Aramonte, Sirio 1 items
Aum, Sangmin 1 items
Barseghyan, Levon 1 items
Buera, Francisco J. 1 items
Cheng, Hong 1 items
Dahlgren, Sarah J. 1 items
Dauth, Wolfgang 1 items
DiCecio, Riccardo 1 items
Drozd, Lukasz A. 1 items
Dvorkin, Maximiliano 1 items
Findeisen, Sebastian 1 items
Firooz, Hamid 1 items
Fogli, Alessandra 1 items
Frame, W. Scott 1 items
Giri, Rahul 1 items
Ikeda, Daisuke 1 items
Kurozumi, Takushi 1 items
Lansing, Kevin J. 1 items
Leduc, Sylvain 1 items
Levchenko, Andrei A. 1 items
Markiewicz, Agnieszka 1 items
McGrattan, Ellen R. 1 items
Mihaylov, Emil 1 items
Morse, Adair 1 items
Narajabad, Borghan N. 1 items
Oberfield, Ezra 1 items
Oliner, Stephen D. 1 items
Pence, Karen M. 1 items
Rua, Gisela 1 items
Shin, Yongseok 1 items
Suedekum, Jens 1 items
Taschereau-Dumouchel, Mathieu 1 items
Temzelides, Ted 1 items
Veldkamp, Laura 1 items
Waddle, Andrea L. 1 items
Wall, Larry D. 1 items
Wang, J. Christina 1 items
Wang, Yajie 1 items
White, Lawrence J. 1 items
Woessner, Nicole 1 items
Xia, Junjie 1 items
Zhang, Jing 1 items
Zhu, Heting 1 items
show more (65)
show less
FILTER BY Jel Classification
O47 16 items
O41 15 items
F12 13 items
J24 5 items
E24 4 items
E31 4 items
F43 4 items
R12 4 items
E25 3 items
G14 3 items
G24 3 items
G28 3 items
H21 3 items
L1 3 items
L16 3 items
L86 3 items
O32 3 items
O34 3 items
O38 3 items
R11 3 items
E32 2 items
E52 2 items
F11 2 items
F23 2 items
G21 2 items
G59 2 items
J15 2 items
J21 2 items
J23 2 items
J38 2 items
L11 2 items
L2 2 items
M2 2 items
O19 2 items
O35 2 items
O40 2 items
D13 1 items
D31 1 items
D33 1 items
E02 1 items
E1 1 items
E21 1 items
E43 1 items
E44 1 items
E66 1 items
F1 1 items
F16 1 items
F41 1 items
F63 1 items
G02 1 items
G2 1 items
G23 1 items
G31 1 items
H25 1 items
I1 1 items
J31 1 items
J62 1 items
K14 1 items
K38 1 items
L63 1 items
L91 1 items
N70 1 items
N72 1 items
O1 1 items
O11 1 items
O14 1 items
O25 1 items
O31 1 items
Q54 1 items
Q55 1 items
show more (66)
show less
FILTER BY Keywords
Technology diffusion 10 items
intellectual property rights 9 items
royalty payments 6 items
automation 5 items
R&D 4 items
Productivity 4 items
Technological change 4 items
Technology Adoption 4 items
Internet bubble 3 items
Knowledge spillovers 3 items
Technology Licensing 3 items
analyst lust 3 items
international trade 3 items
labor share 3 items
risk composition hypothesis 3 items
sectoral linkages 3 items
spinning 3 items
underpricing 3 items
Consumer digital services 3 items
Growth 3 items
Innovation 3 items
Price measurement 3 items
Economic Geography 2 items
Information and Communication Technology (ICT) 2 items
Low-wage automation 2 items
National accounting 2 items
Quality adjustment 2 items
Skill Biased Technical Change 2 items
central bank digital currency 2 items
digital currency 2 items
digital payments 2 items
financial inclusion 2 items
minimum wages 2 items
monetary policy 2 items
payments inclusion 2 items
routine-biased technical change 2 items
subjective forecast distributions 2 items
trade 2 items
unbanked 2 items
FinTech 2 items
Uncertainty 2 items
Algorithmic decision-making 1 items
Big data 1 items
Brexit 1 items
Cell phone 1 items
Climate 1 items
Compensating differentials 1 items
Consumer Durables 1 items
Consumer Surplus 1 items
Deep Trade Agreements 1 items
Development 1 items
Diffusion 1 items
Digital Transformation 1 items
Discrimination 1 items
Disease 1 items
Dynamic Roy models 1 items
Dynamic taxation 1 items
Economic development, technological change, and growth 1 items
Economic networks 1 items
Endogenous growth 1 items
Endogenous productivity 1 items
Energy transition 1 items
European Union 1 items
FDI 1 items
Fair lending 1 items
Framework for Supervision 1 items
Frechet distribution 1 items
Gains from openness Fiscal Constraints. 1 items
Globalization 1 items
Hedonic indexes 1 items
Hedonic price index 1 items
High-skill services 1 items
Ict 1 items
Industrial production 1 items
Inequality 1 items
Information And Communication Technology 1 items
Internalization 1 items
Investor sentiment 1 items
Know-how 1 items
Knowledge diffusion 1 items
Labor market institutions 1 items
Measurment 1 items
Microprocessor 1 items
Mobile phone 1 items
Multinational firms 1 items
Pathogens 1 items
Personal consumption expenditures 1 items
Pigou taxes 1 items
Price indexes 1 items
Prices, business fluctuations, and cycles 1 items
Ramsey program 1 items
Regional Trade Agreements 1 items
Remote work 1 items
Ricardian models of trade 1 items
Scrapping 1 items
Size distribution of firms 1 items
Skill biased 1 items
Smartphone 1 items
Statistical discrimination 1 items
Taste-based preferences 1 items
Technological innovation 1 items
Trade Agreements 1 items
Trade and geography 1 items
United Kingdom 1 items
Urban growth 1 items
Wage inequality 1 items
aggregation 1 items
banking 1 items
best practices 1 items
business cycles 1 items
business expectations 1 items
business uncertainty 1 items
cyberattacks 1 items
extensive margin of trade 1 items
financial innovations 1 items
foreign investments 1 items
general equilibrium 1 items
global outlook 1 items
growth models 1 items
heterogeneous firms 1 items
human capital 1 items
industrial robots 1 items
information technology 1 items
labor demand 1 items
labor’s share in income 1 items
market concentration 1 items
markup 1 items
multiple equilibria 1 items
natural rate of interest 1 items
operational risk 1 items
pandemic 1 items
poverty traps 1 items
proxy variables 1 items
reallocation 1 items
robots 1 items
sectoral TFP 1 items
single point of failure 1 items
social networks 1 items
surveys 1 items
transportation 1 items
unemployment 1 items
welfare 1 items
show more (150)
show less