Working Papers - Federal Reserve Bank of Atlanta - FRB Atlanta Several series of papers presenting the scholarly research of Atlanta Fed staff economists and visiting scholars. Community Affairs discussion papers address topical issues in community development. en-us Atlanta Fed Logo Political Connections, Allocation of Stimulus Spending, and the Jobs Multiplier 2BC43870-78BA-47C9-80DB-15AC8FB33F59 Thu, 13 May 2021 09:00:00 EST Using American Recovery and Reinvestment Act (ARRA) data, the authors of this working paper show that firms use their political connections to win stimulus grants and that public expenditure, when channeled through politically connected firms, hinders job creation. Unit Cost Expectations and Uncertainty: Firms' Perspectives on Inflation E7C6B911-C67F-4274-88F0-D74528E4A9A1 Tue, 30 Mar 2021 09:00:00 EST Examining firms' inflation perceptions, expectations, and uncertainty, the authors of this working paper find that firms' expectations for the nominal side of the economy have little in common with households' expectations, moving instead in tandem with inflation expectations of professional forecasters and market participants. How People Pay Each Other: Data, Theory, and Calibrations C3BDFF1F-C7D7-4D7A-825E-19FCDE779671 Fri, 05 Feb 2021 09:00:00 EST Examining consumer preferences for person-to-person payments, the authors of this working paper find about two thirds of consumers have a first preference for cash. The remaining one third rank checks first. About 93 percent of consumers rank electronic technologies second. Transaction value, age, and education influence payment choice. Improved Estimation of Poisson Rate Distributions through a Multi-Mode Survey Design DF6563A9-24AA-4A24-B7AE-4897ADED0B4D Wed, 03 Feb 2021 09:00:00 EST What is the ideal way for a researcher to obtain quality count data from survey respondents? The author of this working paper explores the potential tradeoffs between recall and diaries, suggesting that a hybrid survey design can offer researchers considerable benefits. Sample Bias Related to Household Role A191F064-FE66-4A9A-AE8C-318CF5CBD188 Wed, 03 Feb 2021 08:00:00 EST Exploring survey-based inference, the author of this working paper notes the importance of adjusting for discrepancies between the types of household members recruited and the target population. Researchers who rely on surveys should consider how variables of interest might vary within households and link to respondent selection. Division of Financial Responsibility among Mixed-Gender Couples 5135843B-1A8D-443E-81B6-1E5C1D45A8FF Wed, 03 Feb 2021 07:00:00 EST Exploring how mixed-gender couples divide household responsibility, the author of this working paper finds that females consistently shoulder more responsibility for household shopping than males. For financial decision making, however, responsibility aligns with income and educational standing. Gender skew in roles seems to relate to aggregate household education, though not age. Consumption and Hours between the United States and France EAAD9620-82E1-4DFD-BCCF-C7A424F69A59 Fri, 29 Jan 2021 09:00:00 EST The authors of this working paper find that while labor efficiency and home productivity are crucial in accounting for the differences in the allocation of time over the life cycle between the United States and France, consumption tax and social security are more important regarding allocation of expenditures. COVID-19 and SMEs: A 2021 "Time Bomb"? 84F7DA56-B956-439A-B20C-571230724457 Fri, 29 Jan 2021 07:00:00 EST The authors of this working paper assess the prospects of a 2021 increase in failures among small and medium-sized enterprises triggered by policies enacted during the COVID-19 crisis. Policies themselves don’t create a 2021 time bomb for these enterprises, but the contraction of credit to the corporate sector could trigger failures. Business Formation: A Tale of Two Recessions 9F848103-3F37-44C9-8357-02221C7064A7 Fri, 29 Jan 2021 06:00:00 EST While business applications fell slowly and persistently during the Great Recession, they followed a V-shaped pattern during the COVID-19 recession. Furthermore, the authors of this working paper find that the changing composition of business applications in 2020 suggests a higher surge in new nonemployer businesses relative to new employer businesses. The "Matthew Effect" and Market Concentration: Search Complementarities and Monopsony Power 96F30446-A7E4-4756-BC7C-BEA3F9009F8E Fri, 15 Jan 2021 10:02:00 EST The authors of this working paper show that search complementarities amplify small differences in productivity among firms. Market concentration fosters monopsony power in the labor market, magnifying profits and further enhancing the output share of high-productivity firms.