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Journal Article
After the boom, housing affordability a growing challenge

Home ownership has long been a cornerstone of the American dream. Although the housing boom has crested, ensuring a supply of affordable housing remains a challenge for areas whose growth has been robust.
EconSouth , Volume 9 , Issue 1

Journal Article
A fast, variable-speed mortgage roller coaster

Low interest rates kindled a strong market in mortgage originations, but there's considerable difference in activity among district metros.
Fedgazette , Volume 16 , Issue Sep , Pages 17-20

Journal Article
A Mismatch: Close to Macroeconomic Goals, Far from Normal Monetary Policy

The Regional Economist

Journal Article
State output remains distinctly Texan, while jobs mix increasingly resembles the U.S.

Lore and data have historically suggested that Texas is unlike any other place. Over the past 40 years, change has swept the state. Texas’ employment composition has increasingly come to resemble the entirety of the U.S., more so than even California or New York. But Texas economic output is another story.
Southwest Economy

Speech
The level and distribution of economic well-being

a speech before the Greater Omaha Chamber of Commerce, Omaha, Nebraska
Speech , Paper 256

Discussion Paper
A maximum probability approach to short-run policy

Special Studies Papers , Paper 168

Discussion Paper
The 1989-92 credit crunch for real estate

Staff Studies , Paper 164

Journal Article
The Changing Investor Composition of U.S. Treasuries, Pt. 2: Who’s Buying U.S. Treasuries?

Part 1 of this two-Bulletin series highlights the changing demand among foreign investors for U.S. Treasuries. In Part 2, we explore how the composition of Treasury investors has shifted toward more yield-sensitive domestic private investors—such as banks, money funds, and hedge funds. This shift in investor composition has not only increased yields but also raised volatility.
Economic Bulletin

Working Paper
The Role of Transfer Prices in Profit-Shifting by U.S. Multinational Firms : Evidence from the 2004 Homeland Investment Act

Using unique transaction-level microdata, this paper documents profit-shifting behavior by U.S. multinational firms via the strategic transfer pricing of intra-firm trade. A simple model reveals how differences in tax rates, both the corporate tax rates across countries and the dividend repatriation tax rate over time, affect the worldwide profit-maximizing transfer-prices set by firms for intra-firm exports and imports. I test the predictions of the model in the context of the 2004 Homeland Investment Act (HIA), a one-time tax repatriation holiday which generated a discreet change in the ...
Finance and Economics Discussion Series , Paper 2017-055

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