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2024 / No. 11
Posted 2024-05-06

Uneven Innovation in the U.S.

by Aakash Kalyani

The San Jose and San Francisco areas don’t make the U.S. top 10 in terms of population, and they each contain merely 1% of the national workforce. But jointly they produce about 20% of all innovation output.

2024 / No. 10
Posted 2024-05-03

Balance Sheet Normalization: Monitoring Quantities and Prices

by Amalia Estenssoro and Kevin L. Kliesen

Central bank policymakers watch the spread between “repo” rates and the interest rate on reserve balances to gauge financial market stress and guide balance sheet normalization.

2024 / No. 9
Posted 2024-04-17

Historical Disinflation Episodes: Which Falls First, Goods or Services?

by Charles S. Gascon and Joseph Martorana

What does it take to bring inflation back down to target? Historically, goods inflation slows first, followed by a longer period in which services inflation slows.

2024 / No. 8
Posted 2024-04-10

Agriculture Workers Across the Eighth District

by Nathan Jefferson and Jack Fuller

How has the share of foreign-born agriculture workers in the Eighth Federal Reserve District changed over the past five years?

2024 / No. 7
Posted 2024-03-29

The Innovation Puzzle: Patents and Productivity Growth

by Aakash Kalyani

Understanding the pace and nature of technological progress is key for evaluating innovation policy and projecting economic growth.

2024 / No. 6
Posted 2024-03-22

What To Know About the Rise of Services

by Ricardo Marto

What should you know about the rise of services over the past 40 years? The services sector now accounts for about 79% of output, 85% of employment, 83% of firms, and 78% of household spending.

2024 / No. 5
Posted 2024-03-20

Why Have a Strategic Petroleum Reserve?

by Christopher J. Neely

Calculating the effect of the recent drawdowns from the U.S. SPR is complex and raises the question of what purpose the SPR serves under current conditions. 

2024 / No. 4
Posted 2024-03-07

By the Generations: Location Patterns of Different Cohorts

by Victoria Gregory and Kevin Bloodworth

Where have different generational cohorts in the US lived throughout their life cycles?

2024 / No. 3
Posted 2024-02-21

The Role of Infant Mortality in Closing the Life Expectancy Gap

by B. Ravikumar and Amy Smaldone

The difference in life expectancy between rich and poor countries has narrowed since 1970, owing in large part to decreases in infant mortality.

2024 / No. 2
Posted 2024-02-02

Assets and Liabilities of Younger vs. Older Households

by Yu-Ting Chiang and Mick Dueholm

The balance sheets of US households have changed over the past seven decades, overall and for different age groups.

2024 / No. 1
Posted 2024-01-19

Decoupling Where it Matters? US Imports from China in Critical Sectors

by Fernando Leibovici and Jason Dunn

The US has decreased its dependence on imports from China, dropping 7.7 percentage points in the share of total imports since 2017. Critical goods in communications and information technology have been most affected.