Speeches
The Economic Outlook: Moving Forward on a Bumpy Road John C. Williams July 28
The recent softness in the economic data looks much more like a bump in the road of what we already thought would be a gradual recovery, rather than a swerve into the ditch.
» Read the entire speech
In the News
SF Fed Official: Economy Suffering From Temporary Weakness taken from Wsj.com by Michael S. Derby July 28
"The recent softness in the economic data looks much more like a bump in the road of what we already thought would be a gradual recovery, rather than a swerve into the ditch," said John Williams, the bank's executive vice president and director of research.
» Read more in The Economic Outlook: Moving Forward on a Bumpy Road
FRBSF Economist Speeches July 28, 2010 Williams
Senate Advances Jobless Aid Plan Over Republican Objections Brian Faler taken from Blommberg.com July 20
An April report by a pair of economists at the Federal Reserve Bank of San Francisco said that the aid extensions, which are the longest ever, have contributed to the unemployment rate, though the effect was "relatively modest." It estimated the jobless rate at the end of last year would have been 9.6 percent, rather than 10 percent, without the extensions.
» Read more in Extended Unemployment and UI Benefits
FRBSF Economic Letter 2010-12 April 19 Valletta Kuang
Federal Reserve Worry List Gets Longer taken from Reuters by Emily Kaiser July 12
The Fed seems to be watching. The Federal Reserve Bank of San Francisco published a research paper on "fiscal crises of the states" in late June, less than a week after the Fed's last policy meeting.
» Read more in Fiscal Crises of the States: Causes and Consequences
FRBSF Economic Letter 2010-20 June 28 Gerst Wilson
Working Papers
» More Working Papers
Growth Accounting with Misallocation: Or, Doing Less with More in Singapore Working paper 2010-18
We derive aggregate growth-accounting implications for a two-sector economy with heterogeneous capital subsidies and monopoly power. These distortions lead to dynamic reallocation effects, and can cause measures of productivity growth in terms of quantities (the primal) and real factor prices (the dual) to diverge from each other and from true technology growth. For the case of Singapore, we show how to use incomplete data to measure growth in technology and reallocation, and we reconcile divergent TFP estimates.
Fernald Neiman May 2010
Upcoming Seminars
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Carolyn Evans August 24
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Christina Steiger Northeastern Fernald September 7
Brown bag (Macro)
Salifou Issoufou UC Berkeley Lansing September 22
Seminar (International)
Shang-Jin Wei September 23