Search Results
Report
New York merchandise exports
New York's merchandise export performance has lagged that of the U.S. economy over the first part of the 1990s. Such slippage could be due to slow growth in export markets, a concentration in slow-growth product lines, and/or declining competitiveness relative to the overall U.S. economy. We find that none of these factors fully explains the declining share of New York merchandise exports. New York's export markets are growing nearly as fast as the U.S. foreign market; New York exports are more concentrated in the industries with fastest export growth than the U.S. average; and New York's ...
Journal Article
New York state's merchandise export gap
New York's merchandise export performance has trailed the nation's for several years. The cause of this gap is not easy to identify: the state maintains a relatively healthy mix of customer markets, remains well represented in industries with strong foreign demand, and continues to enjoy declining labor costs. A broader look at New York's competitiveness, however, reveals that high nonlabor costs may be hurting the state's manufacturing sector and thus its volume of exports.
Working Paper
The Canadian sector of the multi-country model
Working Paper
Price determination in the multi-country model
Journal Article
Determinants of long-term interest rates: an empirical study of several industrial countries
Real interest rates on long-term financial assets play a central role in linking financial markets to the economy at large. Over the last fifteen years, these rates have risen steadily in the United States and some key foreign countries. The authors consider long-term forces contributing to this risethe rate of return to capital, risk factors, and changes in financial structurealong with macroeconomic policies leading to short- and medium-term fluctuations in the rates.