Economic Research and Data
Features
- Behind the Decline in Labor’s Share of Income
- 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
- Job Creation by Small and Large Firms over the Business Cycle
- 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
- The History and Rationale for a Separate Bank Resolution Process
- 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)