Research Notes–September 2004
Featuring research published in August 2004
Responding to Global Competitive Pressure
August 25, 2004
Jack Guynn, president and chief executive officer of the Federal Reserve Bank of Atlanta, provided his thoughts on the U.S. economy and the manufacturing sector at the Technical Association for the Pulp and Paper Industry’s Decorative and Industrial Laminates Symposium in Atlanta.
The Impact of 9/11 on Hours of Work in the United States
Working Paper 2004-16
Despite some predictions that the events of 9/11 would result in declining employee commitment to the workplace, the authors find that, after controlling for economic conditions, time spent working after 9/11 actually increased.
Factor Returns, Institutions, and Geography: A View From Trade
Working Paper 2004-17
The evidence in this paper indicates that protecting property rights increases the returns to both capital owners and workers, while democracy and geography have much smaller effects, if any, on either.
Money Is Privacy
Working Paper 2004-18
Even as credit-based payment systems become cheaper, money preserves a purchaser’s privacy. For this reason, the authors propose that money will persist even if credit-based transaction technologies were free.
Wage Gains among Job Changers across the Business Cycle:
Insight from State Administrative Data
Working Paper 2004-19
This paper uses unique employer-employee matched administrative data from Georgia to determine that firm and industry employment dynamics play significant roles in the earnings gains of workers who change jobs during business cycles.
Dollar Down in July
In July the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta declined 0.8 percent.