Federal Reserve Bank of Cleveland: http://www.clevelandfed.org

• Job Creation by Small and Large Firms over the Business Cycle
• Emily Burgen and Murat Tasci
• The Great Recession caused establishments of all sizes to make significant cuts in their employment. To get a picture of those losses, we turn to the Business Employment Dynamics (BED) data collected by the Bureau of Labor Statistics (BLS). BED data provides gross job gains and losses at the establishment level going back to the early 1990s and breaks down the data to several size categories. We aggregate those categories into three classes to simplify our analysis: small firms (1-49 employees), medium size firms (50-499), and large firms (500 and more employees). Read more
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• Behind the Decline in Labor’s Share of Income
• Margaret Jacobson and Filippo Occhino
• Labor income, which includes wages, salaries, and benefits, has been declining as a share of total income earned in the U.S. Here, we look at the cyclical and long-run factors behind this development. Read more
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• The History and Rationale for a Separate Bank Resolution Process
• Thomas J Fitzpatrick IV, Moira Kearney-Marks and James B Thomson
• Everyone recognizes the need to have a credible resolution regime in place for financial companies whose failure could harm the entire financial system, but people disagree about which regime is best. The emergence of the parallel banking system has led policymakers to reconsider the dividing line between firms that should be resolved in bankruptcy and firms that should be subject to a special resolution regime. A look at the history of insolvency resolution in this country suggests that a blended approach is worth considering. Activities that have potential systemic impact might be best handled administratively, while all other claims could be dealt with under a court-supervised resolution. Read more  (PDF)
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• Loans and Leases in Bank Credit
• Ben R Craig and Matthew Koepke
• Loans and leases in bank credit are an important measure of economic strength. They serve as an indicator of how quickly the general economy is growing and, more importantly, what areas of the economy are expanding. Loans and leases are recovering much more slowly during this recovery than they did in the previous two. But balances in commercial and industrial loans have grown faster. Read more
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More…

• More Transparency, But Not a Crystal Ball   
• Are Consumers More Eager to Borrow?   
• Pass-Through and the Renminbi’s Appreciation   
• Trends in Housing Prices per Square Foot   
• Consumption Taking Longer to Respond to Downturns in GDP   
• Some Improvement in the Labor Market   

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