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Journal Article
Forward-Looking Policy in a Real-Time World
Daly, Mary C. (2023-03-09)
Restoring price stability is a key part of the Fed’s mandate, and it is what the American people expect. Achieving it will take time and a broad view of economic conditions. Policymakers have to respond to an economy that is evolving in real time and prepare for what the economy will look like in the future. The following is adapted from remarks by the president of the Federal Reserve Bank of San Francisco to Griswold Center for Economic Policy Studies at Princeton University on March 4.
FRBSF Economic Letter , Volume 2023 , Issue 08 , Pages 8

Working Paper
Optimal indicators of socioeconomic status for health research
Williams, David; Duncan, Greg J.; McDonough, Peggy; Daly, Mary C. (1999)
Objectives: This paper examines the relationship between various measures of SES and mortality for a representative sample of individuals. ; Methods: Data are from the Panel Study of Income Dynamics. Sample includes 3,734 individuals aged 45 and above who participated in the 1984 interview. Mortality was tracked between 1984 and 1994 and is related to SES indicators using Cox event-history regression models. ; Results: Wealth has the strongest associations with subsequent mortality, and these associations differ little by age and sex. Other economic measures, especially family-size-adjusted ...
Working Papers in Applied Economic Theory , Paper 99-03

Working Paper
The Economic Status of People with Disabilities and their Families since the Great Recession
Lofton, Olivia; Valletta, Robert G.; Daly, Mary C.; Bengali, Leila (2021-02-25)
People with disabilities face substantial barriers to sustained employment and stable, adequateincome. We assess how they and their families fared during the long economic expansion thatfollowed the Great Recession of 2007-09, using data from the monthly Current PopulationSurvey (CPS) and the March CPS annual income supplement. We find that the expansionbolstered the well-being of people with disabilities and in particular their relative labor marketengagement. We also find that applications and awards for federal disability benefits fell duringthe expansion. On balance, our results suggest ...
Working Paper Series , Paper 2021-05

Journal Article
Gains in U.S. productivity: stopgap measure or lasting change?
Furlong, Frederick T.; Daly, Mary C. (2005)
This Economic Letter uses state-level data to contribute to the analyses of the drivers of gains in U.S. labor productivity since 2000--stopgap measures among cautious employers or more lasting changes. While the nation has had a so-called jobless recovery, many states posted net job gains early in the recovery and regained previous peaks in employment levels well ahead of the nation. Comparing states with and without job recoveries, we find no significant difference in productivity growth. The results indicate that differences in demand (output) rather than differences in productivity growth ...
FRBSF Economic Letter

Journal Article
Lessons from History, Policy for Today
Daly, Mary C. (2021-03-04)
Today’s economic challenges are different from the past, and it’s important to learn from history to achieve a better economic future for everyone. As the economy recovers from the effects of COVID-19, the Fed’s new policy framework retains vigilance against inflation while committing to not pull back the reins on the economy in response to a strong labor market.
FRBSF Economic Letter , Volume 2021 , Issue 07 , Pages 01-07

Journal Article
Recent declines in work and income among men with disabilities
Houtenville, Andrew J.; Daly, Mary C.; Burkhauser, Richard V. (2000)
FRBSF Economic Letter

Journal Article
Technology, productivity, and public policy
Daly, Mary C.; Williams, John (2004)
This Economic Letter summarizes papers presented at the conference "Technology, Productivity, and Public Policy" held at the Federal Reserve Bank of San Francisco on November 7-8, 2003. The conference was the inaugural event of the new Center for the Study of Innovation and Productivity (CSIP), which is organized within the Economic Research Department of the Bank.
FRBSF Economic Letter

Journal Article
Income inequality and mortality risk in the United States: is there a link?
Duncan, Greg J.; Daly, Mary C. (1998)
FRBSF Economic Letter

Speech
This Time Is Different…Because We Are
Daly, Mary C. (2022-02-23)
Presentation to the Los Angeles World Affairs Council & Town Hall, Los Angeles, CA, February 23, 2022, by Mary C. Daly, President and Chief Executive Officer, Federal Reserve Bank of San Francisco.
Speech

Journal Article
Disappointing Facts about the Black-White Wage Gap
Pedtke, Joseph H.; Hobijn, Bart; Daly, Mary C. (2017)
More than half a century since the Civil Rights Act became law, U.S. workers continue to experience different levels of success depending on their race. Analysis using microdata on earnings shows that black men and women earn persistently lower wages compared with their white counterparts and that these gaps cannot be fully explained by differences in age, education, job type, or location. Especially troubling is the growing unexplained portion of the divergence in earnings for blacks relative to whites.
FRBSF Economic Letter

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