Michael T. Owyang, E. Katarina Vermann
In measuring the returns to education, economists usually focus on the number of years of schooling. But many people would say that the quality of schooling matters, too, even at the high school level. Does the type of high school attended make a difference in future income?
Many people want to put size limits on “too big to fail” banks, given their risks to the broader economy. Such limits, however, could raise the cost of providing banking services by preventing banks from exploiting economies of scale.
David L. Fuller, B. Ravikumar, Yuzhe Zhang
In the U.S. unemployment insurance program, most of the overpayments due to fraud arise from individuals collecting benefits while they are gainfully employed. In addition, the overpayments are dwarfed by payments unclaimed by some who are eligible for unemployment benefits.
Rubén Hernández-Murillo, Elise Marifian
If labor productivity growth continues to decline while the employment-to-population ratio stabilizes at its current position, America’s economy might have a new normal: Real GDP growth could hover around 2 percent rather than 3 percent.
Not only are nations wrestling with growing debt levels, but so are state and local governments, including those in the seven states that make up the Eighth Federal Reserve District. Two of those seven states—Kentucky and Illinois—each have combined state and local obligations that, as a percentage of gross state product, are higher than California's.