Bart Hobijn

Research

Department of Economics, Arizona State University

501 E. Orange St.

Tempe, AZ 85287-9801, USA

T +1-480-965-0215

B bhobijn@asu.edu

Í www.barthobijn.net

June 21, 2018

External webpages

Google

Scholar

Page with an overview of the citations to my research

IDEAS Page with a list of my publications, citations, and bibliographic information

Research Agenda

Overarching

Theme

As an applied macroeconomist I have worked on a wide range of topics. All these

topics fall under one overarching theme.

All my research projects bring more

detailed data to bear to help us understand the patterns in the aggregate

measures, like GDP per capita, inﬂation, and the unemployment rate, that

are the focus of most macroeconomic models.

In particular, my research agenda

covers three broad topics.

I. Labor

market

dynamics

How can we use existing data and construct new data to better understand the

dynamics of labor markets in the U.S. and around the world? How can these data be

applied to theoretical models of the labor market? This is important to understand

the cyclical behavior of the unemployment rate and wages, medium-run movements

in participation and the employment-to-population ratio, and workers’ life-time

career proﬁles.

II. Growth

and

technology

adoption

In countries with lower standards of living people tend to use older (outdated)

technologies. How far are countries behind the technological frontier? What part of

the diﬀerences in per capita GDP across countries do these technology adoption

lags account for? What is holding countries back? What is the cost to workers of

the introduction of new technologies and how do these costs slow down technology

adoption and economic development?

III. Price

setting and

inﬂation

How do the price-setting decisions of ﬁrms aﬀect the inﬂation rate that we measure?

How is inﬂation inﬂuenced by monetary policy decisions and by external shocks to

ﬁrms’ cost structures? How can we improve our measures of inﬂation to better

capture the introduction of new and better products?

Bart Hobijn, Research, June 21, 2018, Page 1 of 7

Publications, related ﬁles, and press coverage

Below is a list of publications and working papers. The publications are categorized

in three groups: Academic publications, Federal Reserve publications, and Other

publications. For each of the items in these lists, related press coverage and

replication and presentation ﬁles are included when available. This is an interactive

list. All titles are linked and so are all press references and paper-related ﬁles.

Academic publications

2018

Hobijn, Bart and Fernanda Nechio. Sticker shocks: using VAT changes to estimate

upper-level elasticities of substitution. Working Paper Series 2015-17. Federal Reserve

Bank of San Francisco Forthcoming in Journal of the European Economic Association.

2017

Bosler, Canyon et al. “The Outlook for U.S. Labor-Quality Growth”. In: Hulten,

Charles and Valerie Ramey. Education, Skills, and Technical Change: Implications

for Future U.S. GDP Growth. University of Chicago Press.

Press coverage: Fox Business.

Daly, Mary C. and Bart Hobijn. “Composition and Aggregate Real Wage Growth”.

In: American Economic Review (Papers and Proceedings) 107.5, pp. 349–52.

2016

Carrillo-Tudela, Carlos et al. “The extent and cyclicality of career changes: Evidence

for the U.K”. In: European Economic Review 84.C, pp. 18–41.

2015

Elsby, Michael W.L., Bart Hobijn, and Ayşegül Şahin. “On the importance of

the participation margin for labor market ﬂuctuations”. In: Journal of Monetary

Economics 72.C, pp. 64–82.

Additional Materials: Replication ﬁles.

Hale, Galina and Bart Hobijn. “Share of Imports and Commodities in Consumption

and Investment in the United States”. In: Uncovering Value Added in Trade: New

Approaches to Analyzing Global Value Chains. World Scientiﬁc Book Chapters.

World Scientiﬁc Publishing Co. Pte. Ltd. Chap. 6, pp. 101–112.

2014

Daly, Mary C. and Bart Hobijn. “Downward Nominal Wage Rigidities Bend the

Phillips Curve”. In: Journal of Money, Credit and Banking 46.S2, pp. 51–93.

Additional ﬁles: Slides, Replication ﬁles.

Press coverage: Krugman blog (1), Krugman blog (2), BusinessWeek, Economist , STL Post-

Dispatch, Wall Street Journal, Bloomberg, Washington Post, MSN, BusinessWeek, FD (Dutch),

Economist, WSJ (blog), NY Times (blog).

2013

Elsby, Michael, Bart Hobijn, and Ayşegül Şahin. “The Decline of the U.S. Labor

Share”. In: Brookings Papers on Economic Activity 44.2 (Fall), pp. 1–63.

Additional ﬁles: Slides, Replication ﬁles

Press coverage: Bloomberg, Slate , Business Insider, Economist, U.S. News, Economist, Bloomberg,

WSJ (opinion), Economist, Bloomberg.

Elsby, Michael W. L., Bart Hobijn, and Ayşegül Şahin. “Unemployment Dynamics

in the OECD”. In: The Review of Economics and Statistics 95.2, pp. 530–548.

Bart Hobijn, Research, June 21, 2018, Page 2 of 7

Hobijn, Bart and Ayşegül Şahin. “Beveridge Curve Shifts across Countries since the

Great Recession”. In: IMF Economic Review 61.4, pp. 566–600.

Additional ﬁles: Slides, Replication ﬁles

Press coverage: Financial Times.

Hobijn, Bart and Ayşegül Şahin. “Firms And Flexibility”. In: Economic Inquiry 51.1,

pp. 922–940.

2012

Barnichon, Regis et al. “Which industries are shifting the Beveridge curve?” In:

Monthly Labor Review June 2012, pp. 25–37.

Daly, Mary C. et al. “A Search and Matching Approach to Labor Markets: Did the

Natural Rate of Unemployment Rise?” In: Journal of Economic Perspectives 26.3,

pp. 3–26.

Press coverage: WSJ (blog), Economist.

2011

Comin, Diego and Bart Hobijn. “Technology Diﬀusion and Postwar Growth”. In:

NBER Macroeconomics Annual 2010, Volume 25. NBER Chapters. National Bureau

of Economic Research, Inc, pp. 209–246.

Eusepi, Stefano, Bart Hobijn, and Andrea Tambalotti. “CONDI: A Cost-of-Nominal-

Distortions Index”. In: American Economic Journal: Macroeconomics 3.3, pp. 53–91.

Additional ﬁles: Replication ﬁles.

W. L. Elsby, Michael et al. “The Labor Market in the Great Recession—An Update

to September 2011”. In: Brookings Papers on Economic Activity Fall 2011, pp. 353–

384.

Additional ﬁles: Slides, Replication ﬁles

Press coverage: Economist, Economist, NY Times (blog), Economist.

2010

Comin, Diego and Bart Hobijn. “An Exploration of Technology Diﬀusion”. In:

American Economic Review 100.5, pp. 2031–2059.

Additional ﬁles: Online appendix, Replication ﬁles, Dataset

Press coverage: Economist.

Elsby, Michael W. L., Bart Hobijn, and Ayşegül Şahin. “The Labor Market in the

Great Recession”. In: Brookings Papers on Economic Activity 41.1 (Spring, pp. 1–69.

Additional ﬁles: Replication ﬁles

Press coverage: Economist, Economist, Economist, Christian Science Monitor.

2009

Comin, Diego and Bart Hobijn. “Lobbies and Technology Diﬀusion”. In: The Review

of Economics and Statistics 91.2, pp. 229–244.

Hobijn, Bart and Ayşegül Şahin. “Job-ﬁnding and separation rates in the OECD”.

In: Economics Letters 104.3, pp. 107–111.

2008

Comin, Diego, Bart Hobijn, and Emilie Rovito. “Technology usage lags”. In: Journal

of Economic Growth 13.4, pp. 237–256.

Additional ﬁles: Replication ﬁles.

Comin, Diego, Bart Hobijn, and Emilie Rovito. “A new approach to measuring

technology with an application to the shape of the diﬀusion curves”. In: The Journal

of Technology Transfer 33.2, pp. 187–207.

Bart Hobijn, Research, June 21, 2018, Page 3 of 7

2007

Bech, Morten L. and Bart Hobijn. “Technology Diﬀusion within Central Banking:

The Case of Real-Time Gross Settlement”. In: International Journal of Central

Banking 3.3, pp. 147–181.

2006

Hobijn, Bart, Federico Ravenna, and Andrea Tambalotti. “Menu Costs at Work:

Restaurant Prices and the Introduction of the Euro”. In: The Quarterly Journal of

Economics 121.3, pp. 1103–1131.

Additional ﬁles: Replication ﬁles.

2005

Hobijn, Bart and David Lagakos. “Inﬂation Inequality In The United States”. In:

Review of Income and Wealth 51.4, pp. 581–606.

2004

Comin, Diego and Bart Hobijn. “Cross-country technology adoption: making the

theories face the facts”. In: Journal of Monetary Economics (Carnegie-Rochester

Conference Series) 51.1, pp. 39–83.

Hobijn, Bart, Philip Hans Franses, and Marius Ooms. “Generalizations of the KPSS-

test for stationarity”. In: Statistica Neerlandica 58.4, pp. 483–502.

Additional ﬁles: Replication ﬁles.

2003

Benhabib, Jess and Bart Hobijn. Another View of Investment: 40 Years Later. In:

J.Stiglitz R.Frydman, M.Woodford and P.Aghion (eds.) Knowledge, Information and

Expectations in Modern Macroeconomics: In Honor of Edmund S. Phelps. Princeton

University Press: Princeton, pp. 522–545.

2001

Boer, Paul de et al. Did Trade Liberalization Induce a Structural Break in Imports

of Manufactures in Turkey? In: R.Kulikowski, Z.Nahorski and J.W.Owsinski (eds.)

Modelling of Economic Transition Phenomena. University of Information Technology

and Management Press: Warsaw, pp. 198–219.

Hobijn, Bart and Philip Hans Franses. “Are living standards converging?” In: Struc-

tural Change and Economic Dynamics 12.2, pp. 171–200.

Hobijn, Bart and Boyan Jovanovic. “The Information-Technology Revolution and

the Stock Market: Evidence”. In: American Economic Review 91.5, pp. 1203–1220.

2000

Hobijn, Bart and Philip Hans Franses. “Asymptotically perfect and relative conver-

gence of productivity”. In: Journal of Applied Econometrics 15.1, pp. 59–81.

Additional ﬁles: Replication ﬁles.

1998

Franses, Philip Hans and Bart Hobijn. “Increasing seasonal variation; unit roots

versus shifts in mean and trend”. In: Applied Stochastic Models and Data Analysis

14.3, pp. 255–261.

Additional ﬁles: Replication ﬁles.

1997

Franses, Philip Hans and Bart Hobijn. “Critical values for unit root tests in seasonal

time series”. In: Journal of Applied Statistics 24.1, pp. 25–48.

Additional ﬁles: Replication ﬁles.

1996

Lesuis, Piet J. J. et al. “Structural Models of Factor Demands and Technological

Change: An Empirical Assessment of Dynamic Adjustment Speciﬁcations for Sectors

of the Dutch Economy”. In: Economic Systems Research 8.4, pp. 341–360.

Federal Reserve publications

Bart Hobijn, Research, June 21, 2018, Page 4 of 7

2017

Daly, Mary C., Bart Hobijn, and Joseph H. Pedtke. “Disappointing Facts about the

Black-White Wage Gap”. In: FRBSF Economic Letter 2017-26.

Press coverage: Washington Post.

2016

Daly, Mary C., Bart Hobijn, and Benjamin Pyle. “What’s up with Wage Growth?”

In: FRBSF Economic Letter 2016-7.

Press coverage: Bloomberg, Forbes , Bloomberg, Deseret News , Washington Post.

2015

Carrillo-Tudela, Carlos et al. “Majority of hires never report looking for a job”. In:

FRBSF Economic Letter 2015-10.

Press coverage: WSJ (blog).

Daly, Mary C. and Bart Hobijn. “Why is wage growth so slow?” In: FRBSF Economic

Letter 2015-1.

Press coverage: Money.

Hobijn, Bart and Alexander Nussbacher. “The stimulative eﬀect of redistribution”.

In: FRBSF Economic Letter 2015-21.

Press coverage: WSJ (blog).

2014

Carrillo-Tudela, Carlos, Bart Hobijn, and Ludo Visschers. “Career changes decline

during recessions”. In: FRBSF Economic Letter 2014-9.

Press coverage: Bloomberg.

Hobijn, Bart and Leila Bengali. “The wage growth gap for recent college grads”. In:

FRBSF Economic Letter 2014-22.

Press coverage: LA Times, Vox, Reuters, Chicago Tribune, WSJ (blog), Sun-Sentinel.

2013

Daly, Mary C., Bart Hobijn, and Benjamin Bradshaw. “Gauging the momentum of

the labor recovery”. In: FRBSF Economic Letter 2013-30.

Press coverage: BusinessWeek, Reuters, WSJ (blog).

Daly, Mary C., Bart Hobijn, and Timothy Ni. “The path of wage growth and

unemployment”. In: FRBSF Economic Letter 2013-20.

Press coverage: Bloomberg.

2012

Daly, Mary C., Bart Hobijn, and Brian Lucking. “Why has wage growth stayed

strong?” In: FRBSF Economic Letter 2012-10.

Additional materials: FRBSF Wage Rigidity Meter

Press coverage: Krugman blog, NY Times.

Daly, Mary C. et al. “Will the jobless rate drop take a break?” In: FRBSF Economic

Letter 2012-37.

Hale, Galina, Bart Hobijn, and Rachna Raina. “Commodity prices and PCE inﬂation”.

In: FRBSF Economic Letter 2012-14.

2011

Hale, Galina and Bart Hobijn. “The U.S. content of “Made in China””. In: FRBSF

Economic Letter 2011-25.

Press coverage: LA Times, CNN, WSJ (blog), Krugman blog, Economist, NY Times, Japan Times,

Atlanta Journal Constitution, The Diplomat, Sydney Morning Herald, Bloomberg, USA Today.

Hobijn, Bart and Ayşegül Şahin. “Do initial claims overstate layoﬀs?” In: FRBSF

Economic Letter 2011-4.

Bart Hobijn, Research, June 21, 2018, Page 5 of 7

Hobijn, Bart, Colin Gardiner, and Theodore S. Wiles. “Recent college graduates and

the labor market”. In: FRBSF Economic Letter 2011-9.

Press coverage: MSN, WSJ (blog), Economist, NY Times, The Onion (spoof).

Hobijn, Bart, John Krainer, and David Lang. “Cap rates and commercial property

prices”. In: FRBSF Economic Letter 2011-29.

Press coverage: Housing Wire.

2010

Şahin, Ayşegül, Joseph Song, and Bart Hobijn. “The unemployment gender gap

during the 2007 recession”. In: Current Issues in Economics and Finance 16.Feb.

Daly, Mary C. and Bart Hobijn. “Okun’s law and the unemployment surprise of

2009”. In: FRBSF Economic Letter 2010-7.

Hobijn, Bart, Stefano Eusepi, and Andrea Tambalotti. “The housing drag on core

inﬂation”. In: FRBSF Economic Letter 2010-11.

Press coverage: WSJ (blog).

Hobijn, Bart and Colin Gardiner. “The breadth of disinﬂation”. In: FRBSF Economic

Letter 2010-36.

Additional materials: FRBSF PCE Inﬂation Dispersion Page.

Press coverage: Economist.

Kwok, Joyce, Mary C. Daly, and Bart Hobijn. “Labor force participation and the

future path of unemployment”. In: FRBSF Economic Letter 2010-27.

Press coverage: Economist, Economist.

2009

Daly, Mary C., Bart Hobijn, and Joyce Kwok. “Labor supply responses to changes

in wealth and credit”. In: FRBSF Economic Letter 2009-5.

Daly, Mary C., Bart Hobijn, and Joyce Kwok. “Jobless recovery redux?” In: FRBSF

Economic Letter 2009-18.

Hobijn, Bart. “The Tech Pulse Index: recent trends in tech-sector activity”. In:

FRBSF Economic Letter 2009-3.

Additional materials: FRBSF Tech-Pulse Release

Press coverage: WSJ.

Hobijn, Bart and Charles Steindel. “Do alternative measures of GDP aﬀect its

interpretation?” In: Current Issues in Economics and Finance 15.Nov.

Press coverage: Krugman blog.

2008

Hobijn, Bart. “Commodity price movements and PCE inﬂation”. In: Current Issues

in Economics and Finance 14.Nov.

2007

Hobijn, Bart and Erick Sager. “What has homeland security cost? an assessment:

2001-2005”. In: Current Issues in Economics and Finance 13.Feb.

2005

Groshen, Erica L., Bart Hobijn, and Margaret M. McConnell. “U.S. jobs gained and

lost through trade: a net measure”. In: Current Issues in Economics and Finance

11.Aug.

2003

Hobijn, Bart and David Lagakos. “Social security and the consumer price index for

the elderly”. In: Current Issues in Economics and Finance 9.May.

Press coverage: Economist.

Bart Hobijn, Research, June 21, 2018, Page 6 of 7

Hobijn, Bart, Kevin J. Stiroh, and Alexis Antoniades. “Taking the pulse of the tech

sector: a coincident index of high-tech activity”. In: Current Issues in Economics

and Finance 9.Oct.

2002

Hobijn, Bart. “What will homeland security cost?” In: Economic Policy Review Nov,

pp. 21–33.

Other publications

2017

Bonam, Dennis and Bart Hobijn. “Ruim begrotingsbeleid vereist sterke toekomstige

schuldstabilisering”. In: Economisch Statistische Berichten 102, pp. 22–24.

2012

Comin, Diego and Bart Hobijn. “How Early Adoption Has Increased Wealth—Until

Now”. In: Harvard Business Review 90, pp. 34–35.

T., Dickens William and Triest Robert K. “Second Discussant Comment on Potential

Eﬀects of the Great Recession on the U.S. Labor Market”. In: The B.E. Journal of

Macroeconomics 12.3, pp. 1–41.

2009

Elsby, Michael W.L., Bart Hobijn, and Ayşegül Şahin. “Unemployment in the Current

Crisis”. In: VOX February 14 2009.

1996

Hobijn, Bart and Philip Hans Franses. “Convergentie levensstandaard treedt niet

op”. In: Economisch Statistische Berichten 81, pp. 10–12.

Working papers

2016

Bonam, Dennis and Bart Hobijn. Generalized stability of monetary unions under

regime switching in monetary and ﬁscal policies. DNB Working Papers 524. Nether-

lands Central Bank, Research Department.

Press coverage: AEA interview with Dennis.

Daly, Mary C. and Bart Hobijn. The intensive and extensive margins of real wage

adjustment. Working Paper Series 2016-4. Federal Reserve Bank of San Francisco.

Hobijn, Bart and Patryk Perkowsky. “The Industry-Occupation Mix of U.S. Job

Openings and Hires”.

Press coverage: WSJ (blog), Economist.

2009

Hobijn, Bart et al. Household inﬂation experiences in the U.S.: a comprehensive

approach. Working Paper Series 2009-19. Federal Reserve Bank of San Francisco.

2007

Comin, Diego and Bart Hobijn. Implementing Technology. NBER Working Papers

12886. National Bureau of Economic Research, Inc.

2006

Comin, Diego, Bart Hobijn, and Emilie Rovito. Five Facts You Need to Know About

Technology Diﬀusion. NBER Working Papers 11928. National Bureau of Economic

Research, Inc.

2002

Hobijn, Bart. On both sides of the quality bias in price indexes. Staﬀ Reports 157.

Federal Reserve Bank of New York.

2001

Hobijn, Bart. Is equipment price deﬂation a statistical artifact? Staﬀ Reports 139.

Federal Reserve Bank of New York.

Bart Hobijn, Research, June 21, 2018, Page 7 of 7