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Author:Schuh, Scott 

Working Paper
Input and output inventories

This paper builds and estimates a new model of firm behavior that includes decisions to order, use, and stock input materials in a stage-of-fabrication environment with either gross production or value added technology. The model extends the traditional linear-quadratic model of output (finished goods) inventories by incorporating delivery and usage of input materials plus input inventory investment - features which largely have been ignored in the literature. Stylized facts indicate that input inventories are empirically more important than output inventories, especially in business cycle ...
Working Papers , Paper 97-7

Working Paper
Estimating the linear-quadratic inventory model: maximum likelihood versus generalized method of moments

Finance and Economics Discussion Series , Paper 93-11

Working Paper
Job creation, job destruction, and international competition: job flows and trade: the case of NAFTA

This paper is a chapter in our forthcoming monograph, Job Creation, Job Destruction, and International Competition (W.E. Upjohn Institute 2003), and expands on the ideas advanced in Klein, Schuh, and Triest (2003). The chapter is a case study of the impact of the North American Free Trade Agreement (NAFTA) on the U.S. labor market in three industries: textiles and apparel, chemicals, and automobiles. NAFTA significantly altered the trade environment for these industries and contributed to changes in the bilateral export-import structure among the United States, Canada, and Mexico. Our ...
Working Papers , Paper 02-8

Working Paper
Integrated household surveys: an assessment of U.S. methods and an innovation

We present a vision for improving household financial surveys by integrating responses from questionnaires more completely with financial statements and combining them with payments data from diaries. Integrated household financial accounts?-balance sheet, income statement, and statement of cash flows?-are used to assess the degree of integration in leading U.S. household surveys, focusing on inconsistencies in measures of the change in cash. Diaries of consumer payment choice can improve dynamic integration. Using payments data, we construct a statement of liquidity flows: a detailed ...
Working Papers , Paper 17-7

How do speed and security influence consumers' payment behavior?

The Federal Reserve Financial Services (FRFS) strategic plan for 2012-2016 named improvements in the end-to-end speed and security of the payment system as two of its policy initiatives. End-to-end in this context means that for the first time end-users are explicitly included. Earlier versions of the strategy plan were circulated for public comment, and the feedback received by FRFS specifically identified a need for further research. This brief draws upon new data from the 2013 Survey of Consumer Payment Choice and employs econometric modeling and simulation to complement FRFS-commissioned ...
Current Policy Perspectives , Paper 15-1

Journal Article
Beyond shocks: what causes business cycles? an overview

What makes economies rise and fall? What caused the Asian crisis, the recessions of the 1970's and 1980's, and even the Great Depression? According to many modern economists, shocks did. This unsatisfying answer lies at the heart of a currently popular framework for analyzing business cycle fluctuations. This framework assumes that the macroeconomy usually obeys simple behavioral relationships but is occasionally disrupted by large "shocks", which force it temporarily away from these relationships and into recession. The behavioral relationships then guide the orderly recovery of the ...
New England Economic Review , Issue Nov , Pages 3-24

Costs and benefits of building faster payment systems: the U.K. experience and implications for the United States

This paper studies the economic cost-benefit analysis behind the decision by the United Kingdom on how to implement its Faster Payments Service (FPS), which allows consumers and businesses to rapidly transfer money between bank accounts, and draws implications for the U.S. payments system.
Current Policy Perspectives , Paper 14-5

U.S. consumers' holdings and use of $100 bills

Conventional wisdom asserts that $100 bills are often associated with crime and foreign cash holdings, leading some commentators to call for their elimination; in light of this proposal, it is useful to examine the legal, domestic use of cash. This report uses new data from the 2012 Diary of Consumer Payment Choice (DCPC) to evaluate consumer use of $100 bills as a means of payment.
Research Data Report , Paper 14-3

Journal Article
The evolution of regional manufacturing employment: gross job flows within and between firms and industries

The distribution of manufacturing employment across regions of the United States has changed tremendously over time. Shares of manufacturing employment in older, northern regions of the country have declined markedly relative to shares in the Sunbelt regions. But the shifting of manufacturing employment shares goes beyond the well known migration of population to the South and West. Manufacturing employment relative to population has also fallen in northern regions, and even the absolute number of manufacturing jobs has declined in these areas as well. ; Anecdotal evidence suggests that some ...
New England Economic Review , Issue Q 3 , Pages 35-53

The 2010 Survey of Consumer Payment Choice

In 2010, the number of consumer payments increased nearly 9 percent from 2009 as economic activity began to rebound from the financial crisis and recession. Cash payments by consumers, which had increased sharply in 2009, did not fall back but rather grew another 3 percent in 2010. However, the share of cash payments, the dollar amount of cash withdrawals, and cash holdings by consumers decreased moderately in 2010. Credit card payments by consumers increased 15 percent, reversing more than half the 2009 decline, and the steady trend decline in paper check payments by consumers continued. ...
Research Data Report , Paper 13-2


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