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Economic restructuring in New York State

Author

Listed:
  • Erica L. Groshen
  • Simon M. Potter
  • Rebecca J. Sela

Abstract

When economic activity slows down, labor markets may undergo extensive structural change-the permanent reallocation of workers across industries. Job losses can be heavy, and creating new jobs and retraining displaced workers to fill them can take time. A high degree of restructuring may help to explain why New York State's most recent downturn persisted for well over two years. Subseries: Second District Highlights.

Suggested Citation

  • Erica L. Groshen & Simon M. Potter & Rebecca J. Sela, 2004. "Economic restructuring in New York State," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 10(Jun).
  • Handle: RePEc:fip:fednci:y:2004:i:jun:n:v.10no.7
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    References listed on IDEAS

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    1. Gerald A. Carlino & Satyajit Chatterjee & Robert M. Hunt, 2001. "Knowledge spillovers and the new economy of cities," Working Papers 01-14, Federal Reserve Bank of Philadelphia.
    2. Erica L. Groshen & Simon M. Potter, 2003. "Has structural change contributed to a jobless recovery?," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 9(Aug).
    3. James A. Orr, 1997. "Industrial restructuring in the New York metropolitan area," Economic Policy Review, Federal Reserve Bank of New York, issue Feb, pages 61-74.
    4. Jason Bram, 2003. "New York City's economy before and after September 11," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 9(Feb).
    5. Erica L. Groshen & Laura Robertson, 1993. "Are the Great Lakes cities becoming service centers?," Economic Commentary, Federal Reserve Bank of Cleveland, issue Jun.
    6. No authors listed, 2001. "New Economy," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 27(1), pages 1-1.
    7. James A. Orr & Robert W. Rich & Rae D. Rosen, 1999. "Two new indexes offer a broad view of economic activity in the New York - New Jersey region," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 5(Oct).
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    Citations

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    Cited by:

    1. James A. Orr & Rae D. Rosen, 2004. "New York and New Jersey poised for modest job growth in 2005," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 10(Dec).
    2. Jason Bram & James A. Orr, 2006. "Taking the pulse of the New York City economy," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 12(May).

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