Recent Analysis and Research

Posted May 26, 2015
John C. Williams

Economic Letter a Publication of Economic Research

The U.S. economy is on solid footing. The labor market is nearing full employment, and inflation should move back toward the Federal Open Market Committee’s target. A likely gradual removal of highly accommodative monetary policy could begin at any upcoming FOMC meeting. However, the exact timing will be driven by the incoming data. The following is adapted from a presentation by the president and CEO of the Federal Reserve Bank of San Francisco to the New York Association for Business Economics in New York on May 12.

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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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