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Journal Article
Regional wage divergence and national wage inequality
Throughout much of the 1980s, wage inequality increased in the United States. Previous research has found that a rise in earnings by educational level and increased wage dispersion across occupations were important factors in the rise in wage inequality. Researchers, however, have noted that much of the rise in wage inequality was left unexplained by the demographic and industry factors that they examined. In this study, Keith R. Phillips extends the analysis by examining the impact on wage inequality of a divergence in regional wages that occurred during the 1980s. ; The author finds that ...
Journal Article
Texas Economy Shifting into Second Gear in 2017
Amid an energy sector recovery in the second half of 2016, the Texas economy is positioned to return to its long-term pace of growth this year. However, a significant change in oil prices or further weaknesses in manufacturing remain risks to the outlook.
Texas Economy Picks Up in October; Data Revisions Show Weaker 2019 Growth
Texas job growth picked up in October, although the energy sector continued to slip and manufacturing activity weakened.
Journal Article
Austin's high-tech industry: played out or just beginning?
Journal Article
The Texas index of leading economic indicators: a revision and further evaluation
In this article, Keith R. Phillips revises the Texas index of leading economic indicators that he introduced two years ago. He does so in response to recent structural changes in the state economy and the availability of new data. The Federal Reserve Bank of Dallas has produced the Texas leading index monthly since July 1988. ; Using a newly developed technique for evaluating leading indexes, Phillips finds that the revised Texas leading index has performed well in predicting movements in the Texas economy since 1981. He also finds that monthly revisions in the leading index are generally ...
Journal Article
Snapshot: Texas Employment Estimate Debuts
The Federal Reserve Bank of Dallas’ new Texas Weekly Employment Estimate (TWEE) is a timely tool to monitor evolving economic conditions while awaiting release of the U.S. Bureau of Labor Statistics’ establishment survey of employment.
Working Paper
Factors behind the convergence of economic performance across U.S. states
The rolling recessions of the 1970s and 1980s were characterized by industry and region specific shocks that led to large dispersions in the economic performance of regions across the U.S. The 1970s were primarily impacted by sharply rising energy prices that hit the manufacturing states hard while stimulating growth in the energy states.> ; The 1980s began with declines in the Farm Belt, followed by declines in the Energy Belt, the Rust (manufacturing) Belt, and finally, due to declines in defense spending, a decline in the Gun Belt. Simple measures of regional dispersion such as the ...
Journal Article
Texas to remain a top state for job growth in 2014
The economy continued to expand broadly, with employment in oil and gas, leisure and hospitality, professional and business services, and construction growing strongly.