Working Paper
The decline in household saving and the wealth effect
Juster, F. Thomas; Smith, James P.; Lupton, Joseph P.; Stafford, Frank (2004)
Using a unique set of household level panel data, we estimate the effect of capital gains on saving by asset type, controlling for observable and unobservable household specific fixed effects. The results suggest that the decline in the personal saving rate since 1984 is largely due to the significant capital gains in corporate equities experienced over this period. Over five-year periods, the effect of capital gains in corporate equities on saving is substantially larger than the effect of capital gains in housing or other assets. Failure to differentiate wealth affects across asset types ...
Finance and Economics Discussion Series , Paper 2004-32

Journal Article
Immigration, health, and New York City: early results based on the U.S. new immigrant cohort of 2003
Massey, Douglas S.; Jasso, Guillermina; Smith, James P.; Rosenzweig, Mark R. (2005-12)
This article was presented at a conference organized by the Federal Reserve Bank of New York in April 2005, "Urban Dynamics in New York City." The goal of the conference was threefold: to examine the historical transformations of the engine-of-growth industries in New York and distill the main determinants of the city's historical dominance as well as the challenges to its continued success; to study the nature and evolution of immigration flows into New York; and to analyze recent trends in a range of socioeconomic outcomes, both for the general population and recent immigrants more ...
Economic Policy Review , Issue Dec , Pages 127-151

Conference Paper
The impact of demographic change on U. S. labor markets: discussion
Smith, James P. (2001)
As its title indicates, the paper by Jane Little and Robert Triest deals with the impact of some upcoming demographic changes on the U. S. labor market. The two changes highlighted are the well-documented population aging and immigration. According to the paper, the challenges raised by these changes are rising and high old-age dependency ratios because of declining numbers of workers to retirees, and slower productivity growth, since migrants tend to have less education than the native-born. ; I would only have quibbles, not quarrels, with their clear and balanced description of these future ...
Conference Series ; [Proceedings] , Volume 46