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Discussion Paper
Quantifying Bottlenecks in Manufacturing
Shortages of key components and logistics problems have constrained factory output since the start of the year. Numerous anecdotes and survey measures have highlighted the emergence of supply chain bottlenecks and other supply constraints; to complement those qualitative characterizations, this note proposes a novel methodology to quantify bottlenecks in the manufacturing sector.
Discussion Paper
International Trade in Services: Stylized Facts about Exporters in the Service Sector
This note contributes to expand the knowledge on foreign trade in services by presenting a series of stylized facts about exporters of services.
Discussion Paper
The Ability to Work Remotely: Measures and Implications
At the onset of the COVID-19 recession, a large share of the employed switched to remote work. Individual- and firm-level surveys indicated that the switch affected between 35 and 45 percent of workers.
Discussion Paper
The Vaccine Boost: An Analysis of the Impact of the COVID-19 Vaccine Rollout on Measures of Activity
Several measures of economic activity have shown improvement since the start of the COVID-19 vaccine rollout. This note quantifies the impact of the rollout across four main dimensions of activity: spending, mobility, education, and employment.
Discussion Paper
Maternity Leave and the Gender Wage Gap : An Analysis of New Jersey Family Leave Insurance
Women, on average, are paid less than men. According to the 2015 report prepared by the Institute for Women's Policy Research (IWPR), female full-time workers in the United States received only 81 cents for every dollar earned by men; this difference amounts to a gender wage gap of 19 percent.
Discussion Paper
Flexing the Factory? The Role of Temporary Help Workers in Manufacturing
Since the COVID-19 pandemic, the demand for flexible work arrangements has notably increased, driven by the need for adaptability in the face of disruptions caused by lockdowns, work-from-home mandates, economic uncertainty, and supply chain shortages. The surge in demand for flexibility could have also provided a boost to the temporary help services industry (NAICS 56132), which provides businesses with temporary workers on a contractual basis.
Working Paper
In the Driver's Seat: Pandemic Fiscal Stimulus and Light Vehicles
This paper explores the impact of two fiscal programs, the Economic Impact Payments and the Paycheck Protection Program, on vehicle purchases and relates our findings to post-pandemic price pressures. We find that receiving a stimulus check increased the probability of purchasing new vehicles. In addition, the disbursement of funds from the Paycheck Protection Program was associated with a rise in local new car registrations. Our estimates indicate that these two programs account for a boost of 1 3/4 million units -- or 12 percent -- to new car sales in 2020. Furthermore, the induced boost in ...
Discussion Paper
Trade in Goods and Services: Measuring Domestic and Export Flows in Buyer-Supplier Data
This note explores measures of domestic and export flows based upon the Compustat customer segment data and compares our measures with official statistics.
Working Paper
Welfare Evaluation in a Heterogeneous Agent Model: How Representative is the CES Representative Consumer?
The present paper investigates the impact of asymmetric price changes on welfare in a model with heterogeneous consumers. I consider consumer heterogeneity a la Anderson et al. (1992). The standard welfare equivalence between the CES representative consumer and the discrete choice model breaks down in presence of asymmetric price changes. In fact, asymmetric variation in prices produce differential gains among heterogeneous consumers. I show that there exists no feasible Kaldor-Hicks income transfer such that the gains are equally redistributed. Intuitively, in presence of decreasing marginal ...