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Papers Containing Keywords(s): 'revenue'

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Longitudinal Business Database - 60

North American Industry Classification System - 55

Total Factor Productivity - 46

Annual Survey of Manufactures - 45

Center for Economic Studies - 41

Bureau of Labor Statistics - 40

Ordinary Least Squares - 36

Bureau of Economic Analysis - 35

Internal Revenue Service - 35

National Bureau of Economic Research - 35

Census of Manufactures - 34

Standard Industrial Classification - 33

Economic Census - 32

National Science Foundation - 29

Census Bureau Disclosure Review Board - 26

Cobb-Douglas - 22

Longitudinal Research Database - 22

Chicago Census Research Data Center - 21

Employer Identification Numbers - 20

Metropolitan Statistical Area - 20

Current Population Survey - 19

Federal Statistical Research Data Center - 18

Census Bureau Longitudinal Business Database - 18

Federal Reserve Bank - 17

Longitudinal Employer Household Dynamics - 17

Census of Manufacturing Firms - 16

Census Bureau Business Register - 15

Business Register - 15

Disclosure Review Board - 15

University of Chicago - 14

Social Security - 13

TFPQ - 13

Social Security Administration - 12

Business Dynamics Statistics - 11

County Business Patterns - 11

Standard Statistical Establishment List - 11

American Community Survey - 10

Federal Reserve System - 10

University of Maryland - 10

Kauffman Foundation - 10

Decennial Census - 9

Social Security Number - 9

Herfindahl Hirschman Index - 9

Special Sworn Status - 9

Alfred P Sloan Foundation - 8

NBER Summer Institute - 8

Generalized Method of Moments - 8

TFPR - 8

Department of Commerce - 8

Protected Identification Key - 7

Journal of Economic Literature - 7

Service Annual Survey - 7

Research Data Center - 7

Securities and Exchange Commission - 6

Retail Trade - 6

2SLS - 6

Council of Economic Advisers - 6

Longitudinal Firm Trade Transactions Database - 6

Labor Productivity - 6

Federal Trade Commission - 6

Characteristics of Business Owners - 6

University of California Los Angeles - 6

Board of Governors - 6

American Economic Review - 6

Michigan Institute for Teaching and Research in Economics - 6

Small Business Administration - 5

Office of Management and Budget - 5

Department of Labor - 5

Earned Income Tax Credit - 5

International Trade Commission - 5

Individual Characteristics File - 5

Department of Homeland Security - 5

Department of Economics - 5

COMPUSTAT - 5

Census of Retail Trade - 5

UC Berkeley - 5

International Trade Research Report - 5

New York University - 5

Quarterly Journal of Economics - 5

Chicago RDC - 5

Securities Data Company - 5

Center for Research in Security Prices - 5

Census of Services - 5

Permanent Plant Number - 5

Survey of Industrial Research and Development - 4

New York Times - 4

Department of Agriculture - 4

Herfindahl-Hirschman - 4

Patent and Trademark Office - 4

Retirement History Survey - 4

Harmonized System - 4

Integrated Longitudinal Business Database - 4

Commodity Flow Survey - 4

Financial, Insurance and Real Estate Industries - 4

Net Present Value - 4

American Economic Association - 4

Administrative Records - 4

Survey of Business Owners - 4

Journal of Economic Perspectives - 4

Journal of International Economics - 4

Environmental Protection Agency - 4

MIT Press - 4

Medical Expenditure Panel Survey - 4

Boston Research Data Center - 4

Business R&D and Innovation Survey - 3

Business Research and Development and Innovation Survey - 3

Wholesale Trade - 3

Technical Services - 3

Arts, Entertainment - 3

Accommodation and Food Services - 3

COVID-19 - 3

Economic Research Service - 3

Disability Insurance - 3

Federal Insurance Contribution Act - 3

W-2 - 3

Washington University - 3

Adjusted Gross Income - 3

Occupational Employment Statistics - 3

Boston College - 3

Carnegie Mellon University - 3

Department of Housing and Urban Development - 3

Census Numident - 3

Organization for Economic Cooperation and Development - 3

World Trade Organization - 3

Data Management System - 3

Department of Justice - 3

University of Minnesota - 3

Information and Communication Technology Survey - 3

Quarterly Workforce Indicators - 3

National Income and Product Accounts - 3

AKM - 3

Ewing Marion Kauffman Foundation - 3

National Center for Health Statistics - 3

Management and Organizational Practices Survey - 3

Value Added - 3

Initial Public Offering - 3

2010 Census - 3

Federal Tax Information - 3

IQR - 3

Journal of Political Economy - 3

World Bank - 3

Journal of Labor Economics - 3

Review of Economic Studies - 3

Manufacturing Energy Consumption Survey - 3

Bureau of Labor - 3

Harvard Business School - 3

Review of Economics and Statistics - 3

Harvard University - 3

E32 - 3

production - 50

sale - 44

market - 42

expenditure - 37

manufacturing - 36

growth - 34

earnings - 31

profit - 31

demand - 29

produce - 28

investment - 25

sector - 25

econometric - 24

gdp - 22

efficiency - 21

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estimating - 19

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tax - 17

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corporate - 7

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consumption - 7

exporting - 7

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quantity - 7

wholesale - 7

labor productivity - 6

spillover - 6

practices productivity - 6

respondent - 6

conglomerate - 6

level productivity - 6

productivity wage - 6

wages productivity - 6

oligopolistic - 6

tariff - 6

measures productivity - 6

plant productivity - 6

productivity plants - 6

inflation - 6

specialization - 6

technological - 5

manufacturing productivity - 5

monopolistically - 5

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filing - 5

leverage - 5

earn - 5

investing - 5

statistical - 5

inventory - 5

equilibrium - 5

industry concentration - 5

report - 5

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taxation - 5

decline - 5

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dispersion productivity - 5

commodity - 5

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aggregation - 5

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efficient - 5

funding - 4

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productivity size - 4

welfare - 4

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firms size - 4

larger firms - 4

contract - 4

invest - 4

impact - 4

marketing - 4

wage growth - 4

regress - 4

import - 4

productivity analysis - 4

productivity firms - 4

compensation - 4

customer - 4

turnover - 4

estimator - 4

supplier - 4

census data - 4

population - 4

economic growth - 4

good - 4

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growth employment - 4

ownership - 4

economic census - 4

buyer - 4

rate - 4

firms export - 4

security - 4

advantage - 4

patent - 3

productivity shocks - 3

prospect - 3

spending - 3

share - 3

lender - 3

fund - 3

restaurant - 3

poverty - 3

exogenous - 3

imputation - 3

insurance - 3

bias - 3

percentile - 3

coverage - 3

1040 - 3

earnings age - 3

plant investment - 3

plants firms - 3

externality - 3

labor statistics - 3

federal - 3

employment earnings - 3

disclosure - 3

patenting - 3

industry variation - 3

effect wages - 3

shipment - 3

trading - 3

importer - 3

export market - 3

commerce - 3

retail - 3

venture - 3

business survival - 3

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younger firms - 3

firms young - 3

healthcare - 3

state - 3

regional - 3

regulatory - 3

emission - 3

regional economic - 3

reporting - 3

earnings inequality - 3

yield - 3

productivity increases - 3

oligopoly - 3

analysis productivity - 3

use census - 3

longitudinal - 3

productivity differences - 3

estimates productivity - 3

custom - 3

startup - 3

firms employment - 3

census business - 3

factory - 3

franchise - 3

regulation - 3

rates productivity - 3

equity - 3

sourcing - 3

liquidation - 3

asset - 3

exporting firms - 3

partnership - 3

prices products - 3

exported - 3

utilization - 3

strategic - 3

diversify - 3

expense - 3

lawyer - 3

plants industry - 3

textile - 3

econometrically - 3

observed productivity - 3

Viewing papers 1 through 10 of 129


  • Working Paper

    The Rising Returns to R&D: Ideas Are Not Getting Harder to Find

    May 2025

    Working Paper Number:

    CES-25-29

    R&D investment has grown robustly, yet aggregate productivity growth has stagnated. Is this because 'ideas are getting harder to find'? This paper uses micro-data from the US Census Bureau to explore the relationship between R&D and productivity in the manufacturing sector from 1976 to 2018. We find that both the elasticity of output (TFP) with respect to R&D and the marginal returns to R&D have risen sharply. Exploring factors affecting returns, we conclude that R&D obsolescence rates must have risen. Using a novel estimation approach, we find consistent evidence of sharply rising technological rivalry. These findings suggest that R&D has become more effective at finding productivity-enhancing ideas but these ideas may also render rivals' technologies obsolete, making innovations more transient.
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  • Working Paper

    Corporate Share Repurchase Policies and Labor Share

    February 2025

    Working Paper Number:

    CES-25-14

    Using census data, we investigate whether share repurchases are responsible for the fall in labor share in U.S. corporations. Recent legislation imposes taxes on share repurchases, motivated by the assertion that share repurchases have led to reduced labor payments. Using several empirical approaches, we find no evidence that increases in share repurchases contribute to decreases in labor share. Top share repurchasing firms since 1982 did not decrease labor share. We also rely on exogenous changes in share repurchases around EPS announcements to pinpoint causality. Policies aimed at improving labor share by discouraging share repurchases will likely not achieve their objectives.
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  • Working Paper

    Measuring the Business Dynamics of Firms that Received Pandemic Relief Funding: Findings from a New Experimental BDS Data Product

    January 2025

    Working Paper Number:

    CES-25-05

    This paper describes a new experimental data product from the U.S. Census Bureau's Center for Economic Studies: the Business Dynamics Statistics (BDS) of firms that received Small Business Administration (SBA) pandemic funding. This new product, BDS-SBA COVID, expands the set of currently published BDS tables by linking loan-level program participation data from SBA to internal business microdata at the U.S. Census Bureau. The linked programs include the Paycheck Protection Program (PPP), COVID Economic Injury Disaster Loans (COVID-EIDL), the Restaurant Revitalization Fund (RRF), and Shuttered Venue Operators Grants (SVOG). Using these linked data, we tabulate annual firm and establishment counts, measures of job creation and destruction, and establishment entry and exit for recipients and non-recipients of program funds in 2020-2021. We further stratify the tables by timing of loan receipt and loan size, and business characteristics including geography, industry sector, firm size, and firm age. We find that for the youngest firms that received PPP, the timing of receipt mattered. Receiving an early loan correlated with a lower job destruction rate compared to non-recipients and businesses that received a later loan. For the smallest firms, simply participating in PPP was associated with lower employment loss. The timing of PPP receipt was also related to establishment exit rates. For businesses of nearly all ages, those that received an early loan exited at a lower rate in 2022 than later loan recipients.
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  • Working Paper

    Tip of the Iceberg: Tip Reporting at U.S. Restaurants, 2005-2018

    November 2024

    Working Paper Number:

    CES-24-68

    Tipping is a significant form of compensation for many restaurant jobs, but it is poorly measured and therefore not well understood. We combine several large administrative and survey datasets and document patterns in tip reporting that are consistent with systematic under-reporting of tip income. Our analysis indicates that although the vast majority of tipped workers do report earning some tips, the dollar value of tips is under-reported and is sensitive to reporting incentives. In total, we estimate that about eight billion in tips paid at full-service, single-location, restaurants were not captured in tax data annually over the period 2005-2018. Due to changes in payment methods and reporting incentives, tip reporting has increased over time. Our findings have implications for downstream measures dependent on accurate measures of compensation including poverty measurement among tipped restaurant workers.
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  • Working Paper

    Entry Costs Rise with Growth

    October 2024

    Working Paper Number:

    CES-24-63

    Over time and across states in the U.S., the number of firms is more closely tied to overall employment than to output per worker. In many models of firm dynamics, trade, and growth with a free entry condition, these facts imply that the costs of creating a new firm increase sharply with productivity growth. This increase in entry costs can stem from the rising cost of labor used in entry and weak or negative knowledge spillovers from prior entry. Our findings suggest that productivity-enhancing policies will not induce firm entry, thereby limiting the total impact of such policies on welfare.
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  • Working Paper

    Earnings Through the Stages: Using Tax Data to Test for Sources of Error in CPS ASEC Earnings and Inequality Measures

    September 2024

    Authors: Ethan Krohn

    Working Paper Number:

    CES-24-52

    In this paper, I explore the impact of generalized coverage error, item non-response bias, and measurement error on measures of earnings and earnings inequality in the CPS ASEC. I match addresses selected for the CPS ASEC to administrative data from 1040 tax returns. I then compare earnings statistics in the tax data for wage and salary earnings in samples corresponding to seven stages of the CPS ASEC survey production process. I also compare the statistics using the actual survey responses. The statistics I examine include mean earnings, the Gini coefficient, percentile earnings shares, and shares of the survey weight for a range of percentiles. I examine how the accuracy of the statistics calculated using the survey data is affected by including imputed responses for both those who did not respond to the full CPS ASEC and those who did not respond to the earnings question. I find that generalized coverage error and item nonresponse bias are dominated by measurement error, and that an important aspect of measurement error is households reporting no wage and salary earnings in the CPS ASEC when there are such earnings in the tax data. I find that the CPS ASEC sample misses earnings at the high end of the distribution from the initial selection stage and that the final survey weights exacerbate this.
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  • Working Paper

    Foreign Direct Investment, Geography, and Welfare

    September 2024

    Working Paper Number:

    CES-24-45

    We study the impact of FDI on domestic welfare using a model of internal trade with variable markups that incorporates intranational transport costs. The model allows us to disentangle the various channels through which FDI affects welfare. We apply the model to the case of Ethiopian manufacturing, which received considerable amounts of FDI during our study period. We find substantial gains from the presence of foreign firms, both in the local market and in other connected markets in the country. FDI, however, resulted in a modest worsening of allocative efficiency because foreign firms tend to have significantly higher markups than domestic firms. We report consistent findings from our empirical analysis, which utilises microdata on manufacturing firms, information on FDI projects, and geospatial data on improvements in the road network.
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  • Working Paper

    Driving the Gig Economy

    August 2024

    Working Paper Number:

    CES-24-42

    Using rich administrative tax data, we explore the effects of the introduction of online ridesharing platforms on entry, employment and earnings in the Taxi and Limousine Services industry. Ridesharing dramatically increased the pace of entry of workers into the industry. New entrants were more likely to be young, female, White and U.S. born, and to combine earnings from ridesharing with wage and salary earnings. Displaced workers have found ridesharing to be a substantially more attractive fallback option than driving a taxi. Ridesharing also affected the incumbent taxi driver workforce. The exit rates of low-earning taxi drivers increased following the introduction of ridesharing in their city; exit rates of high-earning taxi drivers were little affected. In cities without regulations limiting the size of the taxi fleet, both groups of drivers experienced earnings losses following the introduction of ridesharing. These losses were ameliorated or absent in more heavily regulated markets.
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  • Working Paper

    Employer Dominance and Worker Earnings in Finance

    August 2024

    Authors: Wenting Ma

    Working Paper Number:

    CES-24-41

    Large firms in the U.S. financial system achieve substantial economic gains. Their dominance sets them apart while also raising concerns about the suppression of worker earnings. Utilizing administrative data, this study reveals that the largest financial firms pay workers an average of 30.2% more than their smallest counterparts, significantly exceeding the 7.9% disparity in nonfinance sectors. This positive size-earnings relationship is consistently more pronounced in finance, even during the 2008 crisis or compared to the hightech sector. Evidence suggests that large financial firms' excessive gains, coupled with their workers' sought-after skills, explain this distinct relationship.
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  • Working Paper

    How Big is Small? The Economic Effects of Access to Small Business Subsidies

    June 2024

    Working Paper Number:

    CES-24-28

    Industry size standards that determine eligibility for small business subsidies have vastly increased over the past decade. We exploit quasi-random variation in the implementation of size standard increases to study the effects on small firms, subsidy allocation, and industry outcomes using Census Bureau microdata. Following size standard increases, revenues decline for an industry's smallest firms, and they are less likely to survive. We link these effects to a reallocation of government procurement contracts from smaller to larger firms. Consequently, industries become more concentrated and growth declines. These findings highlight the broad economic effects of changing eligibility for small business subsidies.
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