Papers Containing Tag(s): 'North American Industry Classification System'
The following papers contain search terms that you selected. From the papers listed below, you can navigate to the PDF, the profile page for that working paper, or see all the working papers written by an author. You can also explore tags, keywords, and authors that occur frequently within these papers.
See Working Papers by Tag(s), Keywords(s), Author(s), or Search Text
Click here to search again
Frequently Occurring Concepts within this Search
Viewing papers 191 through 200 of 393
-
Working PaperMissing Growth from Creative Destruction
April 2018
Working Paper Number:
CES-18-18
Statistical agencies typically impute inflation for disappearing products based on surviving products, which may result in overstated inflation and understated growth. Using U.S. Census data, we apply two ways of assessing the magnitude of 'missing growth' for private nonfarm businesses from 1983'2013. The first approach exploits information on the market share of surviving plants. The second approach applies indirect inference to firm-level data. We find: (i) missing growth from imputation is substantial ' at least 0.6 percentage points per year; and (ii) most of the missing growth is due to creative destruction (as opposed to new varieties).View Full Paper PDF
-
Working PaperNew Perspectives on the Decline of U.S. Manufacturing Employment
April 2018
Working Paper Number:
CES-18-17
We use relatively unexplored dimensions of US microdata to examine how US manufacturing employment has evolved across industries, rms, establishments, and regions. We show that these data provide support for both trade- and technology-based explanations of the overall decline of employment over this period, while also highlighting the di-culties of estimating an overall contribution for each mechanism. Toward that end, we discuss how further analysis of these trends might yield sharper insights.View Full Paper PDF
-
Working PaperRelative Effectiveness of Energy Efficiency Programs versus Market Based Climate Policies in the Chemical Industry
April 2018
Working Paper Number:
CES-18-16
This paper addresses the relative effectiveness of market vs program based climate policies. We compute the carbon price resulting in an equivalent reduction in energy from programs that eliminate the efficiency gap. A reduced-form stochastic frontier energy demand analysis of plant level electricity and fuel data, from energy-intensive chemical sectors, jointly estimates the distribution of energy efficiency and underlying price elasticities. The analysis controls for plant level price endogeneity and heterogeneity to obtain a decomposition of efficiency into persistent (PE) and time-varying (TVE) components. Total inefficiency is relatively small and price elasticities are relatively high. If all plants performed at the 90th percentile of their efficiency distribution, the reduction in energy is between 4% and 13%. A modest carbon price of between $9.48/ton and $14.01/ton CO2 would achieve reductions in energy use equivalent to all manufacturing plants making improvements to close the efficiency gap.View Full Paper PDF
-
Working PaperStrong Employers and Weak Employees: How Does Employer Concentration Affect Wages?
April 2018
Working Paper Number:
CES-18-15
We analyze the effect of local-level labor market concentration on wages. Using plant-level U.S. Census data over the period 1977'2009, we find that: (1) local-level employer concentration exhibits substantial cross-sectional and time-series variation and increases over time; (2) consistent with labor market monopsony power, there is a negative relation between local-level employer concentration and wages that is more pronounced at high levels of concentration and increases over time; (3) the negative relation between labor market concentration and wages is stronger when unionization rates are low; (4) the link between productivity growth and wage growth is stronger when labor markets are less concentrated; and (5) exposure to greater import competition from China (the 'China Shock') is associated with more concentrated labor markets. These five results emphasize the role of local-level labor market monopsonies in influencing firm wage-setting.View Full Paper PDF
-
Working PaperAge and High-Growth Entrepreneurship
April 2018
Working Paper Number:
carra-2018-03
Many observers, and many investors, believe that young people are especially likely to produce the most successful new firms. We use administrative data at the U.S. Census Bureau to study the ages of founders of growth-oriented start-ups in the past decade. Our primary finding is that successful entrepreneurs are middle-aged, not young. The mean founder age for the 1 in 1,000 fastest growing new ventures is 45.0. The findings are broadly similar when considering high-technology sectors, entrepreneurial hubs, and successful firm exits. Prior experience in the specific industry predicts much greater rates of entrepreneurial success. These findings strongly reject common hypotheses that emphasize youth as a key trait of successful entrepreneurs.View Full Paper PDF
-
Working PaperFathers, Children, and the Intergenerational Transmission of Employers
March 2018
Working Paper Number:
CES-18-12
We document the tendency of fathers in the U.S. to share employers with their sons and daughters. We show that the rate of job sharing is much higher than can be explained by the fact that fathers and sons tend to live near each other. Younger children are much more likely to share their father's employer, as are children of high-earning fathers. We find that sons' earnings at shared jobs tend to be higher than at unshared jobs but see no statistically signi?cant di'erence for daughters. Much of the earnings differential is associated with jobs at shared employers being in higher-paying industries. When we control for employer characteristics, we see a much smaller son earnings premium for working together with his father. We also investigate the impact of sharing an employer on intergenerational mobility and demonstrate that for sons, sharing an employer at some point before age 30 is associated with a higher rank in the earnings distribution as an adult but that this association is independent of the father's rank in the earnings distribution.View Full Paper PDF
-
Working PaperAggregating From Micro to Macro Patterns of Trade
February 2018
Working Paper Number:
CES-18-10
We develop a new framework for aggregating from micro to macro patterns of trade. We derive price indexes that determine comparative advantage across countries and sectors and the aggregate cost of living. If firms and products are imperfect substitutes, we show that these price indexes depend on variety, average demand/quality and the dispersion of demand/quality-adjusted prices, and are only weakly related to standard empirical measures of average prices, thereby providing insight for elasticity puzzles. Of the cross-section (time-series) variation in comparative advantage, 50 (90) percent is accounted for by variety and average demand/quality, with average prices contributing less than 10 percent.View Full Paper PDF
-
Working PaperSmall and Large Firms Over the Business Cycle
February 2018
Working Paper Number:
CES-18-09
Drawing on a new, con dential Census Bureau dataset of financial statements of a representative sample of 80000 manufacturing firms from 1977 to 2014, we provide new evidence on the link between size, cyclicality, and financial frictions. First, we only find evidence of lower cyclicality among the very largest firms (the top 1% by size). Second, due to high and rising concentration of sales and investment, the lower sensitivity of the top 1% firms dominates the behavior of aggregate fluctuations. Third, we show that this differential sensitivity does not appear to be driven by financial frictions. The higher sensitivity of the bottom 99% does not disappear after controlling for measures of financial strength, is not statistically significant after identified monetary policy shocks, and does not appear in debt financing flows. Evidence from 3-digit industries suggests a non-financial explanation: the largest 1% of firms are less sensitive due to a more diversified customer base.View Full Paper PDF
-
Working PaperInnovation, Productivity Dispersion, and Productivity Growth
February 2018
Working Paper Number:
CES-18-08
We examine whether underlying industry innovation dynamics are an important driver of the large dispersion in productivity across firms within narrowly defined sectors. Our hypothesis is that periods of rapid innovation are accompanied by high rates of entry, significant experimentation and, in turn, a high degree of productivity dispersion. Following this experimentation phase, successful innovators and adopters grow while unsuccessful innovators contract and exit yielding productivity growth. We examine the dynamic relationship between entry, productivity dispersion, and productivity growth using a new comprehensive firm-level dataset for the U.S. We find a surge of entry within an industry yields an immediate increase in productivity dispersion and a lagged increase in productivity growth. These patterns are more pronounced for the High Tech sector where we expect there to be more innovative activities. These patterns change over time suggesting other forces are at work during the post-2000 slowdown in aggregate productivity.View Full Paper PDF
-
Working PaperDisclosure Limitation and Confidentiality Protection in Linked Data
January 2018
Working Paper Number:
CES-18-07
Confidentiality protection for linked administrative data is a combination of access modalities and statistical disclosure limitation. We review traditional statistical disclosure limitation methods and newer methods based on synthetic data, input noise infusion and formal privacy. We discuss how these methods are integrated with access modalities by providing three detailed examples. The first example is the linkages in the Health and Retirement Study to Social Security Administration data. The second example is the linkage of the Survey of Income and Program Participation to administrative data from the Internal Revenue Service and the Social Security Administration. The third example is the Longitudinal Employer-Household Dynamics data, which links state unemployment insurance records for workers and firms to a wide variety of censuses and surveys at the U.S. Census Bureau. For examples, we discuss access modalities, disclosure limitation methods, the effectiveness of those methods, and the resulting analytical validity. The final sections discuss recent advances in access modalities for linked administrative data.View Full Paper PDF
