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Report
Productivity and the density of human capital
Abel, Jaison R.; Gabe, Todd M.; Dey, Ishita (2010)
We estimate a model of urban productivity in which the agglomeration effect of density is enhanced by a metropolitan area's stock of human capital. Estimation accounts for potential biases due to the endogeneity of density and industrial composition effects. Using new information on output per worker for U.S. metropolitan areas along with a measure of density that accounts for the spatial distribution of population, we find that a doubling of density increases productivity by 2 to 4 percent. Consistent with theories of learning and knowledge spillovers in cities, we demonstrate that the ...
Staff Reports , Paper 440

Working Paper
Unionization and cost of production: compensation, productivity, and factor-use effects
Eberts, Randall W.; Stone, Joe A. (1987)
A demonstration that unionization can affect cost of production through increases in compensation, through shifts in technologies, and through deviations from the least-cost combination of inputs (the factor-use effect).
Working Papers (Old Series) , Paper 8701

Working Paper
Current real business cycle theories and aggregate labor market fluctuations
Christiano, Lawrence J.; Eichenbaum, Martin S. (1990)
Working Paper Series, Macroeconomic Issues , Paper 90

Journal Article
The bottom line
Burke, William (1973)
FRBSF Economic Letter

Journal Article
Capital formation and competitiveness
Bernauer, Kenneth (1981)
FRBSF Economic Letter

Journal Article
Regional productivity growth and plant-level dynamics
Lee, Yoonsoo (2007-10)
The mix of companies in the economy is always changing. The more-productive ones expand, and the less-productive ones are driven out of the market, freeing resources such as labor and capital for new ventures. This reallocation contributes more to aggregate productivity growth than the productivity gains achieved by individual businesses. The efficiency with which the process takes place is a key factor affecting rates of productivity growth in different regions and explaining why they differ.
Economic Commentary , Issue Oct

Discussion Paper
Estimating GSP and labor productivity by state
Bauer, Paul W.; Lee, Yoonsoo (2006-03)
In gauging the health of state economies, arguably the two most important series to track are employment and output. While employment by state is available about three weeks after the end of a month, data on output, as measured by Gross State Product (GSP), are only available annually and with a significant lag. This Policy Discussion Paper details how more current estimates of GSP can be generated using U.S. Gross Domestic Product and personal income along with individual states personal income. A straightforward share approach yields reasonable GSP estimates, but a more sophisticated ...
Policy Discussion Papers , Issue Mar

Working Paper
Information and communications technology as a general-purpose technology: evidence from U.S industry data
Basu, Susanto; Fernald, John G. (2006)
Many people point to information and communications technology (ICT) as the key for understanding the acceleration in productivity in the United States since the mid-1990s. Stories of ICT as a 'general purpose technology' suggest that measured TFP should rise in ICT-using sectors (reflecting either unobserved accumulation of intangible organizational capital, spillovers, or both), but with a long lag. Contemporaneously, however, investments in ICT may be associated with lower TFP as resources are diverted to reorganization and learning. We find that U.S. industry results are consistent with ...
Working Paper Series , Paper 2006-29

Report
The effects of inflation on wage adjustments in firm-level data: grease or sand?
Schweitzer, Mark E.; Groshen, Erica L. (1996)
This paper studies the effects of inflation on wage changes made by firms in a unique thirty-seven-year panel of occupations and employers drawn from the Federal Reserve Bank of Cleveland Community Salary Survey (CSS). Our analysis first identifies two relative prices embedded in wage changes and, second, draws inferences about the costs and benefits of inflation from the adjustments in these relative prices. Typically, firms manage employer-wide wage adjustments (controlling for occupational wage changes) separately from their interoccupational wage changes (controlling for employer wage ...
Staff Reports , Paper 9

Working Paper
The case of the missing productivity growth: or, does information technology explain why productivity accelerated in the United States but not the United Kingdom?
Srinivasan, Sylaja; Fernald, John G.; Basu, Susanto; Oulton, Nicholas (2003)
Solow's paradox has disappeared in the United States but remains alive and well in the United Kingdom. In particular, the U.K. experienced an information and communications technology (ICT) investment boom in the 1990s in parallel with the U.S., but measured total factor productivity has decelerated rather than accelerated in recent years. We ask whether ICT can explain the divergent TFP performance in the two countries. Stories of ICT as a 'general purpose technology' suggest that measured TFP should rise in ICT-using sectors (reflecting either unobserved accumulation of intangible ...
Working Paper Series , Paper WP-03-08

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