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Journal Article
Increase in business activity
Journal Article
Recent business and credit development
Working Paper
Real-time measurement of business conditions
We construct a framework for measuring economic activity at high frequency, potentially in real time. We use a variety of stock and flow data observed at mixed frequencies (including very high frequencies), and we use a dynamic factor model that permits exact filtering. We illustrate the framework in a prototype empirical example and a simulation study calibrated to the example.
Journal Article
Recent business developments
Journal Article
The economic impact of a smoking ban in Columbia, Missouri: an analysis of sales tax data for the first year
In January 2007, an ordinance took effect in Columbia, Missouri, banning smoking in all bars, restaurants, and workplaces. This paper analyzes data for sales tax collections at eating and drinking establishments from January 2001 through December 2007, including the first twelve months of the smoking ban. The analysis accounts for trends, seasonality, general business conditions, and weather. The findings suggest that the smoking ban has been associated with statistically significant losses in sales tax revenues at Columbia's bars and restaurants, with an average decline of approximately 3 to ...
Journal Article
National summary of business conditions
Journal Article
Will new business tax dull Texas' competitive edge?
In today's global economy, high corporate tax rates are more harmful than ever because it has become easier for mobile productive resources to cross borders in search of more favorable business climates. ; Nations seem quite aware of this. The European Union's corporate tax rates have fallen by a third over the past decade, with five member states making cuts in 2006 alone. Asian nations, too, have responded to global competition by reducing the tax bite on business. In fact, all members of the Organization for Economic Cooperation and Development impose lower corporate tax rates than they ...
Journal Article
Bank profits rebound as loss set-asides ease
Banks across the U.S., including the Eleventh Federal Reserve District, appear to be recovering from the financial crisis that began in mid-2007. The news is welcome because a healthy banking sector spurs economic growth by providing financing for businesses to expand investment spending and for consumers to purchase goods and services. ; Data for 2010 show strong profit growth, with banks across the nation rebounding from a net loss in 2009 and those in the Dallas-based Eleventh District almost doubling their profits. There was also good news regarding asset quality: Problem loans are ...
Journal Article
Recent business developments