Using a novel data set based on individual resumes of public firm employees, we propose a monthly index of aggregate labor flow that measures the dynamics of firm employment. We find that the index can predict the economic outputs significantly: an increase in the index leads to greater...

The capture ratio is a widely-used investment performance measure. We study the statistical problem of estimating the capture ratio based on a finite number of observations of a fund's returns. We derive the asymptotic distribution of the estimator and use it for testing whether one fund has a...

In August 2021, the share of enterprises that reported that prices for purchased products rose again became very large (81%). This provoked an increase in the corresponding diffusion index, which for the fourth time per year reached 90% – the maximum value for the past 6 years. For the rest of...