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Journal Article
New York City's unemployment picture
This issue of Second District Highlights briefly examines several explanations that have been offered for the rise in unemployment in New York City from 1994 to 1997.
Journal Article
The New York City recession
This article examines the origins, scope, and sectoral profile of the recent New York City recession. In addition, the authors document the buildup of imbalances in the economy before the downturn and discuss the extent to which these imbalances have been alleviated.
Journal Article
In brief: economic capsules: an overview of inflation measurement
This article surveys a variety of indexes used to measure inflation. The authors identify differences in the construction and coverage of these measures and touch on some of the issues affecting the measurement of prices for a broad range of goods and services.
Journal Article
A historical perspective on the 1989-92 slow growth period
This article compares the 1990-91 recession and the surrounding period of unusually sluggish growth with earlier recessionary episodes. Using a variety of indicators, the author assesses the relative severity of the latest recession and identifies features that distinguish this period from its predecessors. He also gauges the economy's recent performance by tracking the deviation of real GDP from various estimates of its potential level.
Journal Article
Earnings inequality: New York-New Jersey region
Over the past two decades, inequality trends in the New York-New Jersey region have largely followed the nation's: among year-round, full-time workers, the earnings gap has widened about 50 percent.
Journal Article
The effect of imports on U.S. manufacturing wages
U.S. imports of manufactured goods increased rapidly between 1975 and 1985. During the same period, real wages of U.S. manufacturing workers stagnated. The author investigates whether the increased competition from imports affected earnings within industries and contributed to the sluggish growth of aggregate manufacturing wages.
Journal Article
Do rising labor costs trigger higher inflation?
The evidence that developments in compensation growth lead overall CPI inflation has thus far been inconclusive. This study, however, sheds new light on the relationship between labor costs and price inflation. By breaking down compensation and prices into their various components, the author finds that compensation growth in the service-producing segment of the private sector can help predict prices for a specific group of services.