Search Results
Journal Article
The Texas economy beats expectations
Journal Article
An overview of science and cents: exploring the economics of biotechnology
This article provides an overview of the conference "Science and Cents: Exploring the Economics of Biotechnology," hosted by the Federal Reserve Bank of Dallas in April 2002. The conference brought together distinguished experts who spoke about economic and scientific issues surrounding biotechnology. In this article, John Duca and Mine Ycel summarize the presentations made at the conference. Topics covered include funding, location, and legal issues confronting the biotech industry. The interdisciplinary nature of biotech research, along with recent advances and future applications, is ...
Working Paper
Methanol as an alternative fuel
Working Paper
Oil prices and inflation
Journal Article
Texas Job Growth Swings More with Services than Oil
As the Texas economy diversified after the 1980s oil bust, the link between overall economic growth and the oil and gas sector weakened. The sector?s connectedness with the state economy increased again with the shale boom. However, service sector employment, especially in financial activities and professional business services, became increasingly prominent following the Great Recession.
Journal Article
Did speculation drive oil prices? market fundamentals suggest otherwise
Oil market speculation became an especially popular topic when the price of crude tripled over 18 months to a record high $145 per barrel in July 2008. Of particular interest to many is whether speculators drove oil prices beyond what fundamentals would have otherwise justified. We explore this issue over two Economic Letters. In this article, we look at evidence from the physical market for oil and conclude that fundamentals, and not speculation, were behind the dramatic rise and fall in oil prices. In our companion Economic Letter, we examine the futures market.
Journal Article
Renewable fuel standards hit the 'blend wall'
The Energy Policy Act of 2005 mandated that a minimum amount of biofuel be blended into transportation fuels. But nine years after the law was passed, the energy landscape has changed.
Working Paper
Deliverability and regional pricing in U.S. natural gas markets
During the 1980s and early '90s, interstate natural gas markets in the United States made a transition away from the regulation that characterized the previous three decades. With abundant supplies and plentiful pipeline capacity, a new order emerged in which freer markets and arbitrage closely linked natural gas price movements throughout the country. After the mid-1990s, however, U.S. natural gas markets tightened and some pipelines were pushed to capacity. We look for the pricing effects of limited arbitrage through causality testing between prices at nodes on the U.S. natural gas ...