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Journal Article
Improving public school financing in Texas
Journal Article
Keys to economic growth: what drives Texas?
Texas continued to grow after the nation sank into recession in December 2007. Staying up so long in down times adds to the state's reputation for superior economic performance. For the past 40 years, employment has consistently grown faster in Texas than the U.S.--by 1 percentage point a year on average. ; In looking at the drivers of economic growth, recent research has put increasing emphasis on human capital and institutions, such as taxes and public spending. These factors partly explain why some U.S. states and regions have managed to maintain business climates conducive to faster ...
Journal Article
Lingering energy bust depresses, doesn’t sink Texas state budget
The recent oil price collapse has adversely affected Texas? budget situation and slowed the growth of its rainy-day fund. While energy continues to play an important role in Texas, the state has been better economically and fiscally positioned than most other energy states.
Are Texans Ready for the Jobs of Tomorrow?
K-12 spending in Texas lags behind the national average, which may leave students unprepared as they enter the changing labor market.
Journal Article
On the record: Texas in better fiscal shape than most other states: a conversation with Jason Saving
The hardships of recession aren't confined to the private sector. Dallas Fed regional economist Jason Saving takes a look at how state budgets are faring in the long, deep slump--starting with Texas.
Working Paper
What drives economic policy uncertainty in the long and short runs? European and U.S. evidence over several decades
Economic policy uncertainty (EPU) has increased markedly in recent years in the U.S. and Europe, and some have posited a link between this phenomenon and subpar economic growth in advanced economies (see Baker, Bloom, and Davis, 2015). But methodological and data concerns have thus far raised doubts about whether EPU contains marginal and exogenous information about other economic phenomena. Our work analyzes the impact on EPU of several possibly endogenous variables, such as inflation and unemployment rates in countries where EPU is measured. We also consider longer-term technological ...
Journal Article
Budget balancing act: health and education stretch Texas resources
Texas legislators confront a key challenge: how to make much-needed investments in health, education and transportation without sacrificing the fiscal structure that has propelled the economy over the last few decades.
Journal Article
States still feel recession's effects two years after downturn's end
The U.S. economy entered a financial-market-driven recession in December 2007 from which it has yet to fully recover. The boom of the mid-2000s has been replaced with a stubborn national reality of high unemployment and sluggish output growth, with no clear indication when economic activity will return to more normal levels.
Texas Economy Rebounds from Year-End Slowdown, Grows at Moderate Pace
Texas economic activity expanded moderately in the first quarter after downshifting markedly in November and December.