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Individuals, married couples respond differently to U.S. income tax changes
Changes in effective income taxes can impact labor supply with different outcomes for married couples and singles, and changes can have a particularly notable impact on married women.
Global Perspectives: Ursula Burns on Coaching, Diversity and Advancing the Next Generation of Female Leaders
Burns and Dallas Fed President Rob Kaplan discussed her career, the importance of coaches and mentors, the case for quotas and advice for the next generation of female leaders.
Global Perspectives: Betsy Price on Being Fort Worth Mayor, Governing and Bipartisanship
Price and Dallas Fed President Rob Kaplan discussed her political career, the challenges she faced in office and the need for bipartisanship to get government business done.
Not Everything Is Bigger in Texas: The Varied Fortunes of Four Smaller Metros
While Texas’ major metropolitan areas power the bulk of the state’s commercial activity, some smaller metros have worked to establish their place as part of the state’s economic mosaic.
Global Perspectives: Maya MacGuineas on Stabilizing the Federal Debt
A good measure of a nation’s ability to repay its obligations is the ratio of the stock of indebtedness to the flow of output produced in a given year. In recent years, this ratio has increased for the U.S. government, raising new questions about how the nation manages a debt burden that is approaching an all-time high.
Working Paper
Gas Guns and Governments: Financial Costs of Anti-ESG Policies
We study how regulation limiting ESG policies distorts financial market outcomes. In 2021 Texas enacted laws that prohibit municipalities from contracting with banks with certain ESG policies, leading to the exit of five of the largest municipal bond underwriters from the state. Issuers previously reliant on these underwriters face higher uncertainty and borrowing costs since the enactment of the laws. These effects are consistent with a deterioration in underwriter competition as issuers face fewer potential underwriters. Texas issuers will incur $300- $500 million in additional interest on ...
State and local governments rake in surpluses after pandemic
The existence of large sums in state and local government coffers runs counter to historic post-recession trends. State and local governments usually grapple with budget shortfalls due to rising social program demands and weak revenue streams following recessions.
Comparing the Uses of Local Fiscal Recovery Funds in the Seventh District’s Large Cities and Their Counties
In response to the economic impacts of the Covid-19 pandemic, the U.S. federal government enacted the landmark American Rescue Plan Act (ARPA). A key component of the act was providing $350 billion in funding to state and local governments through the Coronavirus State and Local Fiscal Recovery Funds (SLFRF) program. This program was designed to allow state and local governments to use the money in a fairly flexible manner to reflect how the pandemic had affected their areas’ economies. The only significant restriction was prohibiting these governments from using the funds allocated by the ...
Anticipated Federal Restrictions Would Slow Permian Basin Production
Possible changes to leasing and permitting requirements governing federal lands could move oil production, prompting a realignment of Permian Basin activity between Texas and New Mexico.
Federal Reserve Banks of Atlanta and Dallas Conference Explored Housing, Urban Economics
Residential real estate prices rose sharply throughout the United States following the onset of COVID-19 in early 2020. While property owners received a capital gains windfall, first-time buyers and renters have struggled with reduced affordability.