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Working Paper
Optimal monetary policy with distinct core and headline inflation rates
In a stylized DSGE model with an energy sector, the optimal policy response to an adverse energy supply shock implies a rise in core inflation, a larger rise in headline inflation, and a decline in wage inflation. The optimal policy is well-approximated by policies that stabilize the output gap, but also by a wide array of "dual mandate" policies that are not overly aggressive in stabilizing core inflation. Finally, policies that react to a forecast of headline inflation following a temporary energy shock imply markedly different effects than policies that react to a forecast of core, with ...
Journal Article
Natural gas pricing: do oil prices still matter?
Journal Article
Noteworthy: Demographics, natural gas, electric power
The regional economic outlook is quite positive. Broad-based hiring in every sector from energy to construction to services reflects the confidence employers have that the region is poised for sustained expansion
Journal Article
Putting a price on carbon
To address global warming, most economists favor a focus on prices, not quantities.
Journal Article
Oil exploration booms -- Is Houston next?
Journal Article
Regional Update : Texas economic growth downshifts
Journal Article
Bank exposure to ethanol
Is ethanol expansion putting investing banks at risk?
Journal Article
Spotlight: Texas wind energy: tax breaks, transmission lines key to growth
Texas became the nation's most prolific generator of wind power in the past decade, but the industry's future growth will depend on tax incentives to make it cost competitive and new transmission lines to get electricity to consumers.
Journal Article
Plumbing the Gulf's debts for oil and gas
Energy firms are busy exploring and drilling in the Gulf of Mexico, propelled by high oil prices and gradually dwindling supplies of easily accessible oil and gas deposits around the world. Technological and engineering breakthroughs have enabled these firms to reach depths never before possible, keeping energy production a major economic component of the Gulf Coast.