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Research Notes–June 2004

Featuring research published in May 2004

Macroeconomics

Job Separation Behavior of Welfare Recipients: Results from a Unique Case Study
Working Paper 2004-12
Using a company’s personnel records, the authors examine turnover among welfare and nonwelfare hires. They find that welfare hires remain employed as long as nonwelfare hires and that mentoring programs increase time until separation.

What Are the Consequences of an Amnesty for Undocumented Immigrants?
Working Paper 2004-10
Drawing on past experience and previous research, the authors discuss potential effects of legalizing undocumented immigrants. They conclude that efforts to reduce inflows of undocumented immigrants should include a guest worker program and increased workplace enforcement.

Dollar Continues Climb in April
In April the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta rose 0.7 percent, its third consecutive monthly gain.

Finance

Regulating Housing GSEs: Thoughts on Institutional Structure and Authorities
Economic Review 2004Q2
This article discusses recent legislative proposals to reorganize housing GSE regulatory oversight, identifies the points of contention, and then evaluates these points, drawing on lessons from U.S. banking regulation.

International Economics

Can Capital-Skill Complementarity Explain the Rising Skill Premium in Developing Countries? Evidence from Peru
Working Paper 2004-11
Using Peru as a case study, the authors examine the factors behind the increase in a developing country’s demand for skilled labor. They conclude that capital accumulation explains a large portion of the increase.