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Newsletter
Regional growth in worker quality
Aaronson, Daniel; Sullivan, Daniel G.
(2003-05)
Chicago Fed Letter
, Issue May
Journal Article
Productivity in the Twelfth District
Wilson, Daniel J.
(2002)
FRBSF Economic Letter
Working Paper
Revisiting the role of home production in life-cycle labor supply
Faberman, R. Jason
(2010)
This paper revisits the argument, posed by Rupert, Rogerson, and Wright (2000), that estimates of the intertemporal elasticity of labor supply that do not account for home production are biased downward. The author uses the American Time Use Survey, a richer and more comprehensive data source than those used previously, to replicate their analysis, but he also explores how other factors interact with household and market work hours to affect the elasticity of labor supply. An exact replication of their analysis yields an elasticity of about 0.4, somewhat larger than previously estimated. Once ...
Working Papers
, Paper 10-3
Report
The firm and the plant in general equilibrium theory
Prescott, Edward C.; Hornstein, Andreas
(1989)
The general equilibrium formulations are developed for two important economic environments. The first environment is the Lucas managerial span-of-control theory of the firm. It is shown that, in the spirit of McKenzie, the aggregate production set can be characterized by a convex cone. The second environment permits both the number of hours plants are operated and the number of workers operating them to be varied. For empirically reasonable elasticities of substitution, equilibrium is characterized by employment-consumption lotteries.
Staff Report
, Paper 126
Report
The effects of inflation on wage adjustments in firm-level data: grease or sand?
Schweitzer, Mark E.; Groshen, Erica L.
(1996)
This paper studies the effects of inflation on wage changes made by firms in a unique thirty-seven-year panel of occupations and employers drawn from the Federal Reserve Bank of Cleveland Community Salary Survey (CSS). Our analysis first identifies two relative prices embedded in wage changes and, second, draws inferences about the costs and benefits of inflation from the adjustments in these relative prices. Typically, firms manage employer-wide wage adjustments (controlling for occupational wage changes) separately from their interoccupational wage changes (controlling for employer wage ...
Staff Reports
, Paper 9
Working Paper
Labor productivity and job-market flows: trends, cycles, and correlations
King, Thomas B.
(2005)
I derive measures of U.S. job-separation and job-matching rates from aggregate Current Population Survey data. Using an unrestricted unobserved-components approach, I decompose these series into trends and cycles and compare the results with the trend and cyclical behavior of labor-productivity growth. Both transitory and permanent shocks to productivity are strongly positively correlated with fluctuations in the rate of job matching and negatively correlated with cyclical fluctuations in separation rates. Productivity growth thereby accounts for about a third of the overall variation in the ...
Supervisory Policy Analysis Working Papers
, Paper 2005-04
Working Paper
Classical deflation theory
Humphrey, Thomas M.
(2003)
Classical economists David Hume, Pehr Niclas Christiernin, Henry Thornton, David Ricardo, Thomas Attwood, and Robert Torrens looked beyond the redistributive (creditor-debtor) effects of deflationary monetary contraction to its adverse effects on output and employment. They attributed these effects to price-wage stickiness; to rises in real debt, tax, and cost burdens; to cash hoarding in anticipation of future price falls; and to other determinants. Addressing deflation associated with post-war resumption of gold convertibility at the old mint par, they advocated policies ranging from ...
Working Paper
, Paper 03-13
Journal Article
Productivity and labor costs in newly industrializing countries
Golub, Stephen
(1995)
FRBSF Economic Letter
Newsletter
Growth in worker quality
Aaronson, Daniel; Sullivan, Daniel G.
(2002-02)
Chicago Fed Letter
, Issue Feb
Journal Article
The productivity of nations
Restuccia, Diego; Duarte, Margarida
(2006-07)
Economic Quarterly
, Volume 92
, Issue Sum
, Pages 195-223
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