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Author:Benson, David 

Journal Article
Consumption and the Great Recession

In 2009, Medicaid spent over $75 billion on 5.3 million elderly beneficiaries. This article describes the Medicaid rules for the elderly and discusses their economic implications.
Economic Perspectives , Volume 36 , Issue Q I , Pages 1-16

Newsletter
Macroeconomic policy and labor markets: lessons from Dale Mortensen’s research

On April 15?16, 2011, Northwestern University and the Chicago Fed co-sponsored a conference in honor of Dale Mortensen?a Northwestern University professor, Chicago Fed consultant, and co-recipient (along with Peter Diamond and Christopher Pissarides) of the 2010 Nobel Prize in economics, awarded for his analysis of markets with search frictions. This article summarizes one panel that presented work on the current state of the U.S. labor market, using Mortensen?s research.
Chicago Fed Letter , Issue Aug

Newsletter
How do sudden large losses in wealth affect labor force participation?

The authors assess whether the sudden large losses in household wealth due to recent declines in stock and home values have significantly affected the U.S. labor market. They find that the overall labor force participation rate would be 0.7 percentage points lower were it not for the declines in the values of stocks and houses over the 2006?10 period.
Chicago Fed Letter , Issue Jan

Working Paper
ivcrc: An Instrumental Variables Estimator for the Correlated Random Coefficients Model

We present the ivcrc command, which implements an instrumental variables (IV) estimator for the linear correlated random coefficients (CRC) model. This model is a natural generalization of the standard linear IV model that allows for endogenous, multivalued treatments and unobserved heterogeneity in treatment effects. The proposed estimator uses recent semiparametric identification results that allow for flexible functional forms and permit instruments that may be binary, discrete, or continuous. The command also allows for the estimation of varying coefficients regressions, which are ...
Finance and Economics Discussion Series , Paper 2020-046

Discussion Paper
How do Rural and Urban Retail Banking Customers Differ?

This note documents differences and similarities between rural and urban retail banking clients using data from the Board's Survey of Consumer Finances (SCF). Understanding geographic differences in local demand conditions for banking is important for designing effective public policy.
FEDS Notes , Paper 2020-06-12-2

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