Papers Containing Tag(s): 'Metropolitan Statistical Area'
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Viewing papers 31 through 40 of 163
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Working PaperMeasuring the Impact of COVID-19 on Businesses and People: Lessons from the Census Bureau's Experience
January 2021
Working Paper Number:
CES-21-02
We provide an overview of Census Bureau activities to enhance the consistency, timeliness, and relevance of our data products in response to the COVID-19 pandemic. We highlight new data products designed to provide timely and granular information on the pandemic's impact: the Small Business Pulse Survey, weekly Business Formation Statistics, the Household Pulse Survey, and Community Resilience Estimates. We describe pandemic-related content introduced to existing surveys such as the Annual Business Survey and the Current Population Survey. We discuss adaptations to ensure the continuity and consistency of existing data products such as principal economic indicators and the American Community Survey.View Full Paper PDF
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Working PaperThe Shifting of the Property Tax on Urban Renters: Evidence from New York State's Homestead Tax Option
December 2020
Working Paper Number:
CES-20-43
In 1981, New York State enabled their cities to adopt the Homestead Tax Option (HTO), which created a multi-tiered property tax system for rental properties in New York City, Buffalo, and Rochester. The HTO enabled these municipalities to impose a higher property tax rate on rental units in buildings with four or more units, compared to rental units in buildings with three or fewer units. Using restricted-use American Housing Survey data and historical property tax rates from each of these cities, we exploit within-unit across-time variation in property tax rates and rents to estimate the degree to which property taxes are shifted onto renters in the form of higher rents. We find that property owners shift approximately 14 percent of an increase in taxes onto renters. This study is the first to use within-unit across time variation in property taxes and rents to identify this shifting effect. Our estimated effect is measurably smaller than most previous studies, which often found shifting effects of over 60 percent.View Full Paper PDF
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Working PaperUnited States Earnings Dynamics: Inequality, Mobility, and Volatility
September 2020
Working Paper Number:
CES-20-29
Using data from the Census Bureau's Longitudinal Employer-Household Dynamics (LEHD) infrastructure files, we study changes over time and across sub-national populations in the distribution of real labor earnings. We consider four large MSAs (Detroit, Los Angeles, New York, and San Francisco) for the period 1998 to 2017, with particular attention paid to the subperiods before, during, and after the Great Recession. For the four large MSAs we analyze, there are clear national trends represented in each of the local areas, the most prominent of which is the increase in the share of earnings accruing to workers at the top of the earnings distribution in 2017 compared with 1998. However, the magnitude of these trends varies across MSAs, with New York and San Francisco showing relatively large increases and Los Angeles somewhere in the middle relative to Detroit whose total real earnings distribution is relatively stable over the period. Our results contribute to the emerging literature on differences between national and regional economic outcomes, exemplifying what will be possible with a new data exploration tool'the Earnings and Mobility Statistics (EAMS) web application'currently under development at the U.S. Census Bureau.View Full Paper PDF
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Working PaperMeasuring the Effect of COVID-19 on U.S. Small Businesses: The Small Business Pulse Survey
May 2020
Working Paper Number:
CES-20-16
In response to the novel coronavirus (COVID-19) pandemic, the Census Bureau developed and fielded an entirely new survey intended to measure the effect on small businesses. The Small Business Pulse Survey (SBPS) will run weekly from April 26 to June 27, 2020. Results from the SBPS will be published weekly through a visualization tool with downloadable data. We describe the motivation for SBPS, summarize how the content for the survey was developed, and discuss some of the initial results from the survey. We also describe future plans for the SBPS collections and for our research using the SBPS data. Estimates from the first week of the SBPS indicate large to moderate negative effects of COVID-19 on small businesses, and yet the majority expect to return to usual level of operations within the next six months. Reflecting the Census Bureau's commitment to scientific inquiry and transparency, the micro data from the SBPS will be available to qualified researchers on approved projects in the Federal Statistical Research Data Center network.View Full Paper PDF
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Working PaperHousing Booms and the U.S. Productivity Puzzle
January 2020
Working Paper Number:
CES-20-04
The United States has been experiencing a slowdown in productivity growth for more than a decade. I exploit geographic variation across U.S. Metropolitan Statistical Areas (MSAs) to investigate the link between the 2006-2012 decline in house prices (the housing bust) and the productivity slowdown. Instrumental variable estimates support a causal relationship between the housing bust and the productivity slowdown. The results imply that one standard deviation decline in house prices translates into an increment of the productivity gap -- i.e. how much an MSA would have to grow to catch up with the trend -- by 6.9p.p., where the average gap is 14.51%. Using a newly-constructed capital expenditures measure at the MSA level, I find that the long investment slump that came out of the Great Recession explains an important part of this effect. Next, I document that the housing bust led to the investment slump and, ultimately, the productivity slowdown, mostly through the collapse in consumption expenditures that followed the bust. Lastly, I construct a quantitative general equilibrium model that rationalizes these empirical findings, and find that the housing bust is behind roughly 50 percent of the productivity slowdown.View Full Paper PDF
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Working PaperIMMIGRANT ENTREPRENEURS AND INNOVATION IN THE U.S. HIGH-TECH SECTOR
February 2019
Working Paper Number:
CES-19-06
We estimate differences in innovation behavior between foreign versus U.S.-born entrepreneurs in high-tech industries. Our data come from the Annual Survey of Entrepreneurs, a random sample of firms with detailed information on owner characteristics and innovation activities. We find uniformly higher rates of innovation in immigrant-owned firms for 15 of 16 different innovation measures; the only exception is for copyright/trademark. The immigrant advantage holds for older firms as well as for recent start-ups and for every level of the entrepreneur's education. The size of the estimated immigrant-native differences in product and process innovation activities rises with detailed controls for demographic and human capital characteristics but falls for R&D and patenting. Controlling for finance, motivations, and industry reduces all coefficients, but for most measures and specifications immigrants are estimated to have a sizable advantage in innovation.View Full Paper PDF
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Working PaperSqueezing More Out of Your Data: Business Record Linkage with Python
November 2018
Working Paper Number:
CES-18-46
Integrating data from different sources has become a fundamental component of modern data analytics. Record linkage methods represent an important class of tools for accomplishing such integration. In the absence of common disambiguated identifiers, researchers often must resort to ''fuzzy" matching, which allows imprecision in the characteristics used to identify common entities across dfferent datasets. While the record linkage literature has identified numerous individually useful fuzzy matching techniques, there is little consensus on a way to integrate those techniques within a single framework. To this end, we introduce the Multiple Algorithm Matching for Better Analytics (MAMBA), an easy-to-use, flexible, scalable, and transparent software platform for business record linkage applications using Census microdata. MAMBA leverages multiple string comparators to assess the similarity of records using a machine learning algorithm to disambiguate matches. This software represents a transparent tool for researchers seeking to link external business data to the Census Business Register files.View Full Paper PDF
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Working PaperFirm Leverage, Labor Market Size, and Employee Pay
August 2018
Working Paper Number:
CES-18-36
We provide new estimates of the wage costs of firms' debt using an empirical approach that exploits within-firm geographical variation in workers' expected unemployment costs due to variation in local labor market in a large sample of public firms. We find that, following an increase in firm leverage, workers with higher unemployment costs experience higher wage growth relative to workers at the same firm with lower unemployment costs. Overall, our estimates suggest wage costs are an important component in the overall cost of debt, but are not as large as implied by estimates based on ex post employee wage losses due to bankruptcy; we estimate that a 10 percentage point increase in firm leverage increases wage compensation for the median worker by 1.9% and total firm wage costs by 17 basis points of firm value.View Full Paper PDF
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Working PaperIn-migration and Dilution of Community Social Capital
June 2018
Working Paper Number:
CES-18-32
Consistent with predictions from the literature, we find that higher levels of in-migration dilute multiple dimensions of a community's level of social capital. The analysis employs a 2SLS methodology to account for potential endogeneity of migration.View Full Paper PDF
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Working PaperOlder and Slower: The Startup Deficit's Lasting Effects on Aggregate Productivity Growth
June 2018
Working Paper Number:
CES-18-29
We investigate the link between declining firm entry, aging incumbent firms and sluggish U.S. productivity growth. We provide a dynamic decomposition framework to characterize the contributions to industry productivity growth across the firm age distribution and apply this framework to the newly developed Revenue-enhanced Longitudinal Business Database (ReLBD). Overall, several key findings emerge: (i) the relationship between firm age and productivity growth is downward sloping and convex; (ii) the magnitudes are substantial and significant but fade quickly, with nearly 2/3 of the effect disappearing after five years and nearly the entire effect disappearing after ten; (iii) the higher productivity growth of young firms is driven nearly exclusively by the forces of selection and reallocation. Our results suggest a cumulative drag on aggregate productivity of 3.1% since 1980. Using an instrumental variables strategy we find a consistent pattern across states/MSAs in the U.S. The patterns are broadly consistent with a standard model of firm dynamics with monopolistic competition.View Full Paper PDF
