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Journal Article
Sources of New York employment fluctuations
The authors analyze employment growth in the metropolitan region and its relationship to employment in the United States as a whole. They identify a strong cyclical link between the region and the nation, punctuated by occasional, persistent shifts in the region's underlying growth rate. Some shifts are found to be related to industry factors, such as the restructuring of financial services in the late 1980s. However, the authors attribute a large and increasing share of New York employment fluctuations to region-specific factors.
Journal Article
Performance of metropolitan area industries
In the New York metropolitan region, job losses have been more severe and economic recovery slower than in most other metropolitan areas. But a more interesting, and less pessimistic, story is revealed by regional income: an analysis of aggregate earnings shows that incomes in the region are higher now, in real terms, than they were in 1988. That rise, the author contends, reflects increased productivity and a potential shift in industry composition from less productive to more productive industries.
Journal Article
Perils of Abe Beame
Journal Article
National and regional factors in the metropolitan economy
The connections between broad economic indicators in the metropolitan region and their national counterparts are examined by the authors. The authors show that over the last seven years, employment growth has been poor in both absolute terms and relative to the nation, possibly indicating a region in decline. However, they note that the region's income growth has been considerably better than its employment growth, suggesting a region whose goods and services remain in healthy demand.
Report
The relative importance of national and regional factors in the New York Metropolitan economy
This paper explores the connections between broad indicators of economic conditions in the New York Metropolitan area and their national counterparts. Our examination provides two different views of the metropolitan economy. First, as is well known, employment growth in the region over the last seven years has been very poor, both in absolute terms and relative to the nation, suggesting a region in decline. On the other hand, the region's income growth has been considerably better, suggesting a region whose goods and services remain in healthy demand. Some methods of analyzing the data ...
Journal Article
Private sector responses to the Panic of 1907: a comparison of New York and Chicago
The trend toward greater provision of payments services by nonbank providers raises a question for regulators: What if these nonbank institutions suffer unfavorable balances or experience a run? The authors of this article look to the Panic of 1907 as an example of how private market participants, in the absence of government institutions, react to a crisis in their industry. They suggest that New York's and Chicago's contrasting experiences during the panic may provide useful lessons for both regulators and market participants. ; The article compares responses to the panic by bank ...
Journal Article
Technological trends affecting the manufacturing sector of New York City
The author concludes that manufacturing is still a vital part of New York City's economy, despite substantial job losses in this sector over the past two decades. An influx of skilled immigrants, the use of advanced technologies in production processes, and the ability to respond rapidly to global markets give New York City a strong future in manufacturing high-value goods.
Journal Article
Creating a performance-driven system
The New York City public school system is in the process of creating the nation's first performance-driven system. Such a system promotes competition, maintains quality, and emphasizes a consistently high level of achievement. The goal of a performance-driven system is to set clear standards and to align resources, policies, and practices with the support that students need to hit the target. The following management principles are used at all levels of the organization: define clear standards, articulate educational strategies designed to enable all students to meet the standards, align all ...
Journal Article
Tourism and New York City's economy
In New York City, tourism has made impressive gains in recent years, particularly in the foreign visitor segment. While not large enough to propel the city's economy, this long-term growth industry is critical to maintaining the local export base and providing jobs to low-skilled workers.