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Briefing
Evidence of a credit crunch?: results from the 2010 survey of first district community banks
This policy brief summarizes the findings of the Survey of Community Banks conducted by the Federal Reserve Bank of Boston in May 2010. This survey seeks to understand how the supply of, and demand for, bank business loans changed in the period following the financial crisis. The survey design focuses on assessing how much community banks were willing and able to lend to local businesses that used to be customers of large banks but lost access to credit in the aftermath of the financial crisis. The survey responses provide some evidence that lending standards for commercial loans have ...
Briefing
Do foreclosures affect Boston public school student academic performance?
Foreclosures have well-documented adverse consequences for families living in or owning properties undergoing foreclosure and on surrounding neighborhoods, but they may also have other costs. This policy brief summarizes our research on the impact of mortgage foreclosures on academic performance among Boston public school students. The data show that students who live at an address that experiences a foreclosure tend to score substantially lower on standardized tests (math and English) and also have substantially worse attendance. However, if we account for the influence of student ...
Working Paper
Population aging, labor demand, and the structure of wages
One consequence of demographic change is substantial shifts in the age distribution of the working age population. As the baby boom generation ages, the usual historical pattern of there being a high ratio of younger workers relative to older workers is increasingly being replaced by a pattern of there being roughly equal percentages of workers of different ages. One might expect that the increasing relative supply of older workers would lower the wage premium paid for older, more experienced workers. ; This paper provides strong empirical support for this hypothesis. Econometric estimates ...
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 ...
Conference Paper
Labor supply in the new century
To explore the labor-supply trends that will affect economic policymaking in the twenty-first century, the Federal Reserve Bank of Boston chose "Labor Supply in the New Century? as the theme for its 52nd Annual Economic Conference held in June 2007. The conference?s six papers and its keynote address by Eugene Steuerle provide a broad overview of the quantity and quality implications of labor-supply trends.
Conference Paper
Social Security reform: links to saving, investment and growth
Monograph
Labor supply in the new century
To explore the labor-supply trends that will affect economic policymaking in the twenty-first century, the Federal Reserve Bank of Boston chose "Labor Supply in the New Century? as the theme for its 52nd Annual Economic Conference held in June 2007. The conference?s six papers and its keynote address by Eugene Steuerle provide a broad overview of the quantity and quality implications of labor-supply trends.
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 ...
Working Paper
Population aging, labor demand, and the structure of wages
One consequence of demographic change is substantial shifts in the age distribution of the working-age population. As the baby boom generation ages, the usual historical pattern of a high ratio of younger workers relative to older workers has been replaced by a pattern of roughly equal percentages of workers of different ages. One might expect that the increasing relative supply of older workers would lower the wage premium paid for older, more experienced workers. This paper provides strong empirical support for this hypothesis. Econometric estimates imply that the size of one?s birth cohort ...
Journal Article
The impact of demographic change on U. S. labor markets
According to U.S. Census Bureau projections, the United States will face dramatic demographic changes over the next one hundred years. The population is expected to grow more slowly but age more rapidly, with the share of the population over 65 climbing to a succession of new record highs. Additionally, the United States will once again become a nation of immigrants. Well over half of the increase in the U.S. population will be caused by the inflow of new immigrants and their children. And because the source of the immigrant inflow has shifted from Europe to Latin America and Asia, this new ...