Search Results
Journal Article
Global, National Business Cycles and Energy Explain Texas Metro Growth
A mix of global, national and state-specific shocks help drive employment fluctuations between U.S. states. Econometric modeling shows such differences among metropolitan areas also reflect a mix of shocks. Texas cities strongly tied to oil and gas activity appear more affected by energy-sector shocks than other metros in the state.
Journal Article
Texas maintains top exporter standing while its trade remains concentrated
While Texas has become the nation?s top exporting state, benefiting from trade of intermediate goods to Mexico and a global presence as an energy hub, its export activity remains concentrated relative to the U.S. and other states.
Journal Article
China's sputtering housing boom poses broad economic challenge
China?s economic slowdown and changing demographics cloud its housing market?s long-term prospects. While urbanization and a lack of alternative investment opportunities provide short-run support, the housing sector?s difficulties imperil China?s financial sector and the global recovery.
Journal Article
Foreign direct investment: financial benefits could surpass gains in technology
Many emerging markets offer financial incentives to attract foreign direct investment, believing that such investment provides advanced technology or management skills. However, it appears developing economies such as China could benefit more from multinational corporations? financial resources.
Working Paper
Diversification and specialization of U.S. states
This paper documents the evolution of the international relationships of individual U.S. states along three dimensions: trade, migration, and finance. We examine how specialized or diversified state economies differ in terms of the products they export and with whom they trade, the origins of the immigrants who live in the state, and the origins of the foreign banks operating in the state. We show that states that are diversified along one of these dimensions are often quite specialized along others. New York is?perhaps, not surprisingly?the most diversified state in terms of global linkages.
Report
The euro and the dollar in the crisis and beyond
The euro has survived its first decade, overcoming questions about its viability and political and economic raison d'tre. ?The Euro and the Dollar in the Crisis and Beyond,? a conference sponsored by Bruegel, the Peterson Institute for International Economics and the Federal Reserve Bank of Dallas, marked the milestone on March 17, 2010, with discussions of Europe?s monetary integration, the euro?s global role relative to the dollar and the currency?s prospects in the aftermath of the 2008?09 global recession.
Report
Cheaper by the Box Load: Containerized Shipping a Boon for World Trade
It?s hard to believe that a vessel 20 stories tall, a quarter-mile long and made from eight Eiffel Towers? worth of steel can float, much less be the future of cargo transportation between continents.
Journal Article
Bringing banking to the masses, one phone at a time
More than half of the world?s adult population lacks access to formal financial services. The proportion is greater in developing countries, where 64 percent on average do not have bank accounts, compared with 17 percent in developed nations. Mobile communications technology is fast becoming a conduit of change. Cell phone subscriptions have mushroomed to cover 75 percent of the global population, enabling mobile banking networks to sprout and reach the unbanked, disproportionately in developing nations.
Report
Oil-Rich Venezuela Tips Toward Hyperinflation
Venezuela, once the wealthiest nation in Latin America, is suffering a dramatic reversal of fortunes and the worst economic crisis in its history. Though the nation has crude oil reserves of close to 300 billion barrels?the world?s largest such holdings?many Venezuelans go without the most basic goods in an economy plagued by chronic shortages.
Journal Article
Spotlight: would a Texas central bank set rates higher?