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Press Releases


September

Featuring research published in August 2010

Macroeconomics

Decomposing the Education Wage Gap: Everything but the Kitchen Sink
Working Paper 2010-12
The wage gap between high school and college graduates began widening dramatically in the 1980s and 1990s. Using multiple data sources, the authors examine the source of this gap.

Fixed-Term and Permanent Employment Contracts: Theory and Evidence
Working Paper 2010-13
The authors provide a theory of why firms offer both employment contracts with high job protection and contracts with no protection. Using that theory, they find that increasing firing costs can increase wage inequality.

Financial Economics

Expected Returns to Stock Investments by Angel Investors in Groups
Working Paper 2010-14
Angel investors fund thousands of entrepreneurial projects annually. The authors' estimates indicate that the expected return for doing so is about 70 percent per year, compensating for the substantial risk.

When Is the Government Spending Multiplier Large?
CQER Working Paper 10-01 (August)
The authors argue that the government spending multiplier can be very large when the nominal interest rate is constant. For the economies they consider, it is optimal to increase government spending in response to shocks that make the zero lower bound on the nominal interest rate binding.

DSGE Models for Monetary Policy Analysis
CQER Working Paper 10-02 (August)
The paper describes and implements Bayesian moment matching and impulse response matching procedures to assign numerical values to parameters in DSGE models used for policy analysis.

Involuntary Unemployment and the Business Cycle
CQER Working Paper 10-03 (August)
When the authors integrate their model of involuntary unemployment into a DSGE model, the resulting model does well at accounting for standard macroeconomic variables' response to monetary policy shocks and two technology shocks.

Introducing Financial Frictions and Unemployment into a Small Open Economy Model
CQER Working Paper 10-04 (August)
The authors extend the standard new Keynesian model by incorporating financial frictions in capital accumulation and management, modeling the labor market using a search and matching framework, and extending the model into a small open economy setting.

Regional Economics

Gulf Oil Spill Updates
Regional Economic Information Network
Too many uncertainties remain after the Gulf oil spill to estimate precisely the spill's long-term regional economic impact. For example, will there be lasting damage to the ecology, to the Gulf Coast "brand"? But for the near term, transportation hubs and energy production, vital components of the economy, have clearly not been disrupted. Moreover, the footprint of the affected area relative to the overall U.S. economy is small. Consequently, the Atlanta Fed does not anticipate changing its forecast.

Podcasts

Jobs That Matter Most: Driving Economic Growth in New Orleans's Post Katrina Economy (MP3 11:45)
Economic Development
Dr. Allison Plyer, co-deputy director at the Greater New Orleans Community Data Center, discusses the vital role of New Orleans's export industries from her recent report, Jobs that Matter Most: Regional Export Industries in the New Orleans Area.

Oil Spill Impact (MP3 13:25)
Southeastern Economic Perspectives
With the well capped and most of the oil gone, the Gulf Coast is repairing the damage done to its economy, its "brand," and its ecology. This podcast features Atlanta Fed researchers discussing the impacts of the Gulf Coast oil spill on the region and the nation, to date and in the future.

Economic Growth and Incentives (MP3 7:08)
Research Insights
Steven E. Landsburg, an economics professor at the University of Rochester, discusses the role of economic growth and incentives in society and how economists view human behavior.

Counting on Quality Jobs: Transforming the Economic Development Landscape (MP3 13:18)
Economic Development
Dr. Shari Garmise, vice president for knowledge management and development for the International Economic Development Council, discusses the findings and case studies compiled in the recent report "Creating Quality Jobs."