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Discussion Paper
New York City’s Economic Recovery—Main Street Gets the Jump on Wall Street

After bottoming out in late 2009, New York City’s economy has been on the road to recovery. In this post, we call attention to an unprecedented feature of the current economic recovery: overall employment in the city began to rebound from the recession well before Wall Street started adding jobs. We also consider some questions that this development naturally raises: What took Wall Street employment so long to recover? What’s been driving job generation on Main Street? What does the recent pickup in Wall Street employment suggest about the outlook for the city’s economy?
Liberty Street Economics , Paper 20110502

Working Paper
The effect of an employer health insurance mandate on health insurance coverage and the demand for labor: evidence from Hawaii

Over the past few decades, policy makers have considered employer mandates as a strategy for stemming the tide of declining health insurance coverage. In this paper we examine the long term effects of the only employer health insurance mandate that has ever been enforced in the United States, Hawaii's Prepaid Health Care Act, using a standard supply-demand framework and Current Population Survey data covering the years 1979 to 2005. During this period, the coverage gap between Hawaii and other states increased, as did real health insurance costs, implying a rising burden of the mandate on ...
Working Paper Series , Paper 2009-08

Working Paper
Economic freedom and employment growth in U.S. states

We extend earlier models of economic growth and development by exploring the effect of economic freedom on U.S. state employment growth. We find that states with greater economic freedom - defined as the protection of private property and private markets operating with minimal government interference - experienced greater rates of employment growth. In addition, we find that less restrictive state and national government labor market policies have the greatest impact on employment growth in U.S. states. Except for labor market policies, we find that state employment growth is influenced by ...
Working Papers , Paper 2010-006

Journal Article
Keep on truckin’ (please)

With the economy picking up traction, truck drivers are in short supply.
Fedgazette , Volume 17 , Issue Mar , Pages 16-18

Journal Article
District's largest urban area slowly regains jobs lost during recession

The Regional Economist , Issue Oct , Pages 16

Journal Article
Heterogeneity in sectoral employment and the business cycle

Using a factor analytic framework, we show that employment variations differ significantly across sectors. In some sectors, notably in goods production, employment movements are driven almost entirely by aggregate shocks. Because aggregate shocks drive business cycles (i.e., sector-specific shocks tend to average out), these sectors are then particularly sensitive to these cycles. In other sectors, mainly in service-providing activities, employment variations are virtually unrelated to aggregate shocks and instead result almost exclusively from sector-specific shocks. This heterogeneity in ...
Economic Quarterly , Volume 95 , Issue Fall , Pages 335-355

Hawks, doves, bubbles, and inflation targets

April 16, 2012. "Hawks, Doves, Bubbles, and Inflation Targets" Presented at the George S. Eccles Distinguished Lecture, Jon M. Huntsman School of Business, Utah State University.
Speech , Paper 198

Journal Article
To work or not to work?

Econ Focus , Volume 9 , Issue Fall , Pages 30-33

Economic overview: Queens and the region

Remarks at Queens Chamber of Commerce and Queens Economic Development Corporation, Flushing, New York City.
Speech , Paper 47

Journal Article
Jobless recoveries or jobless growth?

Jobless recoveries since 2000 may be attributed to a slowdown in the long-term employment trend.
Economic Synopses



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