The problem of manufacturing capacity
Challenges and prospects for Midwest manufacturing
The Chicago Fed held a series of conferences in 2003?04 aimed at understanding the recent poor performance of the manufacturing sector in the Midwest and the nation and identifying the challenges that lie ahead.
Structural change in an open economy
We study the importance of international trade in structural change. Our framework has both productivity and trade cost shocks, and allows for non-unitary income and substitution elasticities. We calibrate our model to investigate South Korea's structural change between 1971 and 2005. We find that the shock processes, propagated through the model's two main transmission mechanisms, non-homothetic preferences and the open economy, explain virtually all of the evolution of agriculture and services labor shares, and the rising part of the hump-shape in manufacturing. Counterfactual exercises ...
District manufactured exports post solid growth in 2007
Growth abroad, exchange rates have positive impact on exports.
Industrial cities initiative: working paper summary
"Rust Belt" is an epitaph for cities large and small throughout America's midwestern and northeastern regions. It encapsulates social and economic changes: "population loss, rising crime rates, loss of union jobs particularly in manufacturing, White flights to the suburbs, and a generally declining urban environment," in which massive, but abandoned factories rusted away and scarred the landscape of once vibrant cities.
Furniture firms eke out gains
Related links: https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2010/q3/feature2_weblinks.cfm
Entry, exit and plant-level dynamics over the business cycle
This paper analyzes the implications of plant-level dynamics over the business cycle. We first document basic patterns of entry and exit of U.S. manufacturing plants, in terms of employment and productivity between 1972 and 1997. We show how entry and exit patterns vary during the business cycle, and that the cyclical pattern of entry is very different from the cyclical pattern of exit. Second, we build a general equilibrium model of plant entry, exit, and employment and compare its predictions to the data. In our model, plants enter and exit endogenously, and the size and productivity of ...
The mechanics behind manufacturing job losses
Manufacturing jobs as a percentage of private employment has fallen by half?from about 21 percent in 1987 to less than 11 percent today. Yet, manufacturing output as a percentage of private output is cyclical with a fairly flat trend averaging about 14 percent.
Economic history : Liquid gold
More than a century ago, West Virginians tapped into their vast reserves of coal and turned it into a valuable form of oil