Recent Analysis and Research

Posted June 1, 2015
John C. Williams

Economic Letter a Publication of Economic Research

Events of the past decade have refocused attention on the potential contributions of monetary policy and macroprudential approaches to fostering financial stability. However, monetary policy is poorly suited for dealing with financial stability concerns. Instead, given the scarcity of explicit macroprudential tools in the United States, microprudential regulations and supervision are used to achieve macroprudential goals. The following is adapted from a presentation by the president and CEO of the Federal Reserve Bank of San Francisco to the Symposium on Asian Banking and Finance in Singapore May 28.

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Posted May 22, 2015
Abe Dunn and Adam Shapiro

Working Papers a Publication of Economic Research

We study the impact of competition among physicians on service provision and health outcomes, focusing on first time heart attacks treated in the emergency room. Physician concentration has a small but statistically significant effect on service utilization. Cardiologists in more concentrated markets perform more intensive procedures in which choice is more discretionary. Higher concentration also leads to fewer readmissions, implying potential health benefits. These findings suggest that changes in organizational structure in a market influence both negotiated service prices and provision.

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The New Geography of Jobs (EiP)

Posted April 30, 2014

The New Geography of Jobs

In the 1950s, the best indicator of a community's economic success was its level of physical capital. In today's world, the best indicator of a community's economic success is human capital. Professor Enrico Moretti discusses the factors shaping community development and the pivotal role of college-educated workers.

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