Search Results
Texas electrical grid remains vulnerable to extreme weather events
New regulations, weatherization standards and operational changes have addressed many shortcomings, but some critical gaps persist.
Residential solar power shines on, backed by securitized lending
Residential solar is a small and rapidly expanding sector, and the securitization market—the packaging of loans to investors—has been one of the most popular sources of funding for new solar installations.
Dallas Fed, Latin American central banks explore financial stability risks
The COVID-19 pandemic, recent monetary tightening and a strengthening U.S. dollar were the themes explored during a recent conference organized by the Federal Reserve Bank of Dallas and the Center for Latin American Monetary Studies (CEMLA) and held at CEMLA’s Mexico City headquarters.
Report
The Effects of Weather on Massachusetts Municipal Expenditures: Implications of Climate Change for Local Governments in New England
In New England, municipal governments provide a variety of public services that are vital to residents and businesses, such as public works, police and fire services, and general government administration. However, the region and its local governments face an increasing threat from climate change. As recorded by the National Oceanic and Atmospheric Administration, New England states have become hotter and wetter and have experienced an increased number of extreme precipitation events since 1900. Rising temperatures and more frequent extreme precipitation events are projected for the region ...
Working Paper
The Impact of Weather on Local Government Spending
While there is a new and rapidly growing literature on the effects of climatic factors on economic and social outcomes, little research has been conducted to understand the fiscal impact of weather, especially at the sub-state level. Using data from Massachusetts municipalities from 1990 through 2019, this paper estimates government spending as a function of temperature and precipitation while controlling for municipality and year fixed effects and municipality-specific time trends. The results show that weather has statistically significant and economically meaningful effects on local ...
Journal Article
Energy transition means more than just additional electric vehicles
Dallas Fed economist David Rapson discusses the challenges of moving away from a fossil-fuel-dependent economy.
Journal Article
Hotter summer days heat up Texans but chill the state economy
As climate change intensifies over the next decade, summer heat waves will likely become more common and severe. The effect on Texas GDP growth is likely to be twice as pronounced as in the rest of the U.S. Meanwhile, the effect on job growth will likely be relatively subdued but vary widely across sectors.
Journal Article
Development bank funds border infrastructure to aid U.S.–Mexico trade
Calixto Mateos, former managing director of the North American Development Bank, discusses his work at the NADBank and its role enhancing trade.
Journal Article
Addressing Texas grid reliability: Time to go nuclear?
Thirty years after Texas’ last nuclear plant opened, new nuclear generation could provide needed power without planet-warming greenhouse gas emissions.
Journal Article
How Are Businesses Responding to Climate Risk?
Understanding what kinds of climate-related risks businesses could face is part of the Federal Reserve’s work to support a thriving economy and well-functioning financial system. To advance these goals, the San Francisco Fed surveyed businesses in its nine-state region to learn how they perceive and approach climate risk. Findings show that businesses view a changing climate as a moderate risk to their activities, particularly through possible regulation changes, higher input costs, and variations in demand. Many businesses are adopting formal risk mitigation strategies, including ...