Jason Faberman and I presented "everything you ever wanted to know about firm and worker dynamics" at a conference in honor of the great John Haltiwanger. Slides here: rdeckernet.github.io/website/deck...

Short note with Robin Braun and @fkamal.bsky.social on tariffs and spare capacity in manufacturing

Short note with Robin Braun and @fkamal.bsky.social on tariffs and spare capacity in manufacturing

The authors show reasons might include soft demand (orders), insufficient labor supply, and lags in the production process (average period of production or APP). (3/3) www.federalreserve.gov/econres/note... #FEDSNote #EconSky

But looking across industries, this spare capacity is not particularly concentrated in industries gaining new tariff protection. In 2025 so far, capacity utilization has not risen more in industries receiving more new import protection. (2/3) www.federalreserve.gov/econres/note... #FEDSNote

Capacity utilization in manufacturing has been subdued, suggesting potential for tariffs to boost production in existing factories. (1/3) www.federalreserve.gov/econres/note... #FEDSNote #EconSky

Glad to see folks here talking about the recent surge in entrepreneurship. While much is still unknown, we already have a lot of color on this striking development. Short thread of joint work w/ @jchaltiwangerum.bsky.social

We have updated our findings from the BPEA paper recently. See: rdeckernet.github.io/website/DH_b...

Ryan Decker and I have studied the surge in new business applications finding that it has led to a surge in new employer businesses. See: www.brookings.edu/articles/sur...