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Research Notes-November 2005

Featuring research published in October 2005

Macroeconomics

It’s Who You Are and What You Do: Explaining the IT Industry Wage Premium
Economic Review Q3 2005
This article explores the extent to which variations in wages between information technology (IT)–producing and non-IT industries can be accounted for by differences in wages paid to IT-related occupations.

On and Off the Information Technology Rollercoaster
EconSouth Q3 2005
If the information technology (IT) sector were a rollercoaster, it would have provided quite a ride over the past decade. Since 2000, however, the IT sector has struggled. The Economics and Statistics Administration estimates that in 2002 IT-producing industries contributed only 0.1 percentage points to the economy’s 2 percent annual growth.

Monetary Policy and the House Price Boom across U.S. States
Working Paper 2005-24
The authors find that the recent boom in house prices is a national phenomenon rather than a collection of local bubbles. They find that the boom is not driven by monetary policy shocks, however.

Housing Tenure and Wealth Distribution in Life-Cycle Economies
Working Paper 2005-25
The author shows the importance of including renters when looking at concentration of wealth over the life cycle. Their introduction implies a decreasing pattern of concentration of housing wealth over an agent’s life.

Dollar Depreciated Slightly in September
In September the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta fell 0.2 percent.

Regional Economics

Florida Housing: Blueprint for Success?
EconSouth Q3 2005
A number of geographic, economic, and demographic factors have sent Florida’s property values spiraling upward, creating a dynamic housing market. But can this brisk pace continue?

Southeast Transit Inches Ahead
EconSouth Q3 2005
Though the South’s traffic has increased along with its population, regional mass transit has waged an uphill battle to gain riders. As population density increases in the region, operators hope commuters take a longer look at public transportation.

Reaching for the Stars: Southern States Vie for Film Productions
EconSouth Q3 2005
Southern states are avidly pursuing movie and television productions, eager to reap the economic benefits that come with crews that pump millions of dollars into their host economies.

Boomers Keep Florida’s ‘Edge’ Hot: An Interview With Jerry M. Ray of St. Joe Co.
EconSouth Q3 2005
Jerry M. Ray is senior vice president of corporate communications for the St. Joe Co., Florida’s largest private landholder. St. Joe owns 820,000 acres, including 300,000 acres within 10 miles of the Gulf of Mexico. St. Joe also develops resorts, residential communities, and commercial and industrial properties and is also involved in real estate services and timber.

City of Palms Living up to Edison’s Enthusiasm
EconSouth Q3 2005
Fort Myers, Fla.—the City of Palms—suffered hurricane damage in 2004 but appears to be on economically firm footing today.