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Newsletter
The Global Diffusion of Ideas and Its Impact on Productivity and Growth
Oberfield, Ezra; Buera, Francisco J. (2016)
Economic growth often comes hand in hand with the growth of trade. However, according to quantitative models that rely on standard static mechanisms, the gains from trade are fairly small. This article introduces a model to study the diffusion of ideas across countries as a means of increasing productivity and provides a quantitative assessment of the role of trade in the transmission of knowledge.
Chicago Fed Letter

V-Shaped Recovery Eludes G-7 Countries
Arbogast, Iris; Wen, Yi (2020-11-16)
Economic growth should overshoot its long-run trend to make up for the downturn caused by the pandemic. So far, this hasn’t happened.
On the Economy

Journal Article
The Role of Transportation in Fostering Economic Mobility in Northeastern Pennsylvania
Ducceschi, Laura; Mierzwa, Erin (2017-10)
The Scranton Area Community Foundation (SACF), founded 63 years ago to promote change and growth in northeastern Pennsylvania, embarked on a series of community discussions more than a year ago to elicit information about the region?s opportunities for economic growth
Cascade , Volume 3

Journal Article
Measuring the Quality, Not Quantity, of Job Creation
Baldini, Noelle (2016-01)
Job creation has long been seen as a worthy goal that supports economic growth while providing opportunities for the local workforce. Increasingly, however, stakeholders are beginning to ask whether success should be measured purely by the quantity of jobs created without regard for the quality of those jobs. This article explores various efforts that are underway to encourage the creation, dissemination, and integration of job quality standards into investment, philanthropic, and economic development efforts aimed at job creation.
Cascade , Volume 1

Speech
How Did the Economy Get Here?
Barkin, Tom (2024-11-12)
A strong but choosier consumer, coupled with a more productive and better valued workforce has landed the economy in a good place.As a consequence, the FOMC has started the process of recalibrating rates to somewhat less restrictive levels.Tomorrow looks different based on whether you take more signal from levels or trends.With the economy now in a good place and interest rates off their recent peak but also off their historic lows, the Fed is in position to respond appropriately regardless of how the economy evolves.
Speech

Journal Article
Features: Virginia's Data Centers and Economic Development
Mullin, John (2023-04)
Data centers are essential to cloud computing and its ability to give users remote access to data, applications, and computing power over the internet. Yet they typically possess few of the ethereal qualities evoked by the term "cloud." With high concentrations in Northern Virginia's Fairfax and Loudoun counties, data centers are often housed in nondescript buildings whose stark forms resemble massive rectangular cubes. The buildings' interiors are packed with rows and rows of computer servers, vast quantities of cables and switches, and the considerable electrical power and HVAC hardware ...
Econ Focus , Volume 23 , Issue 2Q , Pages 14-17

Journal Article
Recent and Near-Term Fiscal Policy: Headwind or Tailwind?
Meisenbacher, Brigid C.; Wilson, Daniel J. (2023-11-13)
The federal government routinely uses government spending and taxes to help offset the highs and lows of the U.S. business cycle. While government spending typically increases during a recession, the magnitude of the fiscal expansion during the pandemic recession was outsized compared with the average historical pattern. This likely contributed to real economic growth and possibly inflation during the recovery. Over the next few years, U.S. fiscal policy is expected to be roughly neutral, providing neither a tailwind nor headwind to the overall economy.
FRBSF Economic Letter , Volume 2023 , Issue 09 , Pages 5

Discussion Paper
The Mysterious Slowdown in U.S. Manufacturing Productivity
Pearce, Jeremy; Lashkari, Danial (2024-07-11)
Throughout the twentieth century, steady technological and organizational innovations, along with the accumulation of productive capital, increased labor productivity at a steady rate of around 2 percent per year. However, the past two decades have witnessed a slowdown in labor productivity, measured as value added per hour worked. This slowdown has been particularly stark in the manufacturing sector, which historically has been a leading sector in driving the productivity of the aggregate U.S. economy. What makes this slowdown particularly puzzling is the fact that manufacturing accounts for ...
Liberty Street Economics , Paper 20240711

Journal Article
Addressing Bias and Equity in Hiring
Putnam, Ashley (2018-04)
While unemployment is decreasing and the economy is improving, not all people are benefiting equally from economic growth, a problem something multiple fields are trying to address. In workforce development, most proposed solutions focus on supply-side interventions. Indeed, surveys of businesses demonstrate that many employers are facing a skills gap when looking for qualified talent. Even with increased digital skills, improved training programs, and more employer engagement in developing a curriculum, however, a major barrier to job seekers still remains the same: will they be hired
Cascade , Volume 1

Speech
Fulfilling our economic potential: remarks at the Association for Neighborhood & Housing Development 2019 Annual Conference, New York City
Williams, John C. (2019-04-11)
Remarks at the Association for Neighborhood & Housing Development 2019 Annual Conference, New York City.
Speech , Paper 316

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