How much do immigration and trade affect labor market outcomes?

Article Abstract:

An analysis of the effects of immigration and trade on the US labor market is manifested in the wage structure, although the effect is largely unnoticeable and may be brought about by other factors. The relationship of the US with less developed countries, viewed in terms of trade and the migration of workers to the US showed that the subsequent improvements of economic conditions brought about by the trade has improved the quality of migrants to the US, consisting of more educated migrants which results in a subsequent improvement in the US economic conditions. Viewed in terms of the wage structure, the educated migrants skews the wage structure against workers completing only high school education.

Trade Relations, Labor Force, United States economic conditions, International economic relations, Labor market, Trade policy, Commerce

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Addressing the quality change issue in the Consumer Price Index

Article Abstract:

The Bureau of Labor Statistics has implemented various measures to assess quality change in the Consumer Price Index (CPI). The Advisory Commission to Study the Consumer Price Index has divided the CPI into 27 classifications, which include food and beverages, housing, and medical care, to analyze bias in new products and quality change. Analysis of the commission's conclusions on the evidence of bias due to the presence of new products and quality indicate a possible exaggeration on the occurrence of bias.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Consumer Protection Laws, Price & Wage Controls, Economic aspects, Consumer protection, Prices, United States. Bureau of Labor Statistics, Consumer price indexes, Wage price policy

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A price target for U.S. monetary policy? Lessons from the experience with money growth targets

Article Abstract:

A study on the outcome of the Federal Reserve Board's use of money growth targets to conduct monetary policy presented during the Brookings Panel on Economic Activity held from Mar. 28 to 29, 1996 is discussed. It is shown that the instability of money demand reduced the accuracy of predicting output and price fluctuations through money growth, thereby making money growth targets ineffective in conducting monetary policy.

Currency Stabilization Programs, Analysis, Economic policy, United States. Federal Reserve Board, Monetary policy, Currency stabilization

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