July 2026, No. 26-11
Over a three-year horizon, goods-producing sectors have larger cumulative aggregate effects from productivity shocks than service-producing sectors, despite goods only accounting for less than one-third of GDP.
Featured
Blog Post
August 6, 2026
Learn how AI is being used among firms in the Fifth District, and the role firms believe AI will play in the future.
Podcast
Aug. 5, 2026
Jay Langston discusses how rural communities in western Virginia have diversified the region from agriculture into pharmaceutical and other forms of manufacturing. Key ingredients of this economic progress include developing the local workforce, building relationships between local and state economic development organizations, and addressing quality-of-life issues. Langston is executive director of the Shenandoah Valley Partnership.
May 2026, No. 26-10
Population aging and educational upgrading explain most long-run movements in aggregate trends, while cohort effects drive large gender differences in participation.
May 2026, No. 26-09
The authors model conditions for adopting new technology and discuss the subsidies needed for the best path forward.
Fifth District Surveys of Manufacturing and Non-Manufacturing Activity
July 28, 2026
Manufacturing activity was mostly flat in July while non-manufacturing activity was broadly flat, according to the most recent survey from the Federal Reserve Bank of Richmond.
Since 2021, the Collaboration of Research Economists (CORE) model has combined frontier research and an innovative delivery method to advance collaboration within the economics profession. Economists from a range of disciplines join with Richmond Fed economists eight times per year for seminars, collaboration, and formal and informal networking — all with an eye toward advancing economic research.
Being a Research Associate at the Richmond Fed
Research Associates help the Richmond Fed's economists with their research and policy memos for briefing the Bank's president on the state of the economy. For recent graduates thinking about applying to a Ph.D. program, this position is an ideal way to learn more about academic economic research.