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Journal Article
Understanding the Trade Imbalance and Employment Decline in U.S. Manufacturing
Economic analysis suggests that a trade war with China can neither stop the decline in American manufacturing employment nor eliminate the U.S. trade deficit, but it could significantly reduce the welfare of American consumers by making U.S. imports of Chinese goods more expensive. Moreover, it could cause the United States to lose its global leadership in free trade and globalization and facilitate China's rise as a world leader in trade and commerce. A better approach may be for policymakers to design policies that can ensure fair redistribution of the gains from free trade among American ...
Journal Article
Historical U.S. Trade Deficits
U.S. trade deficits appear to follow phases of industrialization.
Journal Article
Value-Added Trade vs. Gross Trade
Measuring value-added trade provides a more accurate picture of global trade.
Journal Article
Geographic Disparity in U.S. Output
A mere 81 of more than 3,000 counties produced half of total U.S. GDP in 2018.
Journal Article
First-Time Homebuyers Appear to Be Younger, Less Creditworthy in Eighth District
First-time homebuyers are essential to the dynamics of the housing market by allowing current homeowners to trade up. The number of first-time homebuyers decreased between 2000 and 2011, and then started slowly increasing again. There are many possible reasons why this happened, such as rising rent and home prices, rising student debt and tightening credit standards.
Journal Article
Changing Trade Relations May Affect U.S. Auto Exports in Long Run
The proposed trade agreement USMCA and trade disputes with China may have an impact on the U.S. auto sector.
Journal Article
Housing Costs and Regional Income Inequality in China and the U.S.
In this article, we look at regional per capita disposable income data for China, a developing nation, and the U.S., an advanced economy, to see how income inequality compares between two large countries with a substantial income gap.
Journal Article
Industry Mix May Help Explain Urban-Rural Divide in Economic Growth
Economic growth in U.S. rural areas may be slower than growth in urban areas because of a different industry mix.
Journal Article
The Relationship between Oil and Equities at the Zero Lower Bound
Economists have observed that the correlation between oil price changes and equity returns changed dramatically after 2008. Before 2008, oil and equity prices were generally uncorrelated, while after 2008 they became highly correlated.
Journal Article
Income and Living Standards within the Eighth District
In this article, we have look at the distribution of living standards in terms of the purchasing power of real per capita personal income by county using RPPs. Adjusting income for cost of living allows us to evaluate inequality in income?s local purchasing power instead of income per se. We see that overall inequality is not so severe in the District once adjusted for the cost of living, both across counties and in comparison to the nation. We also see that living standards tend to be higher within MSAs than outside them. In general, inequality is less severe when measured by living ...