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Journal Article
Bankers, regulators absorb lessons of Silicon Valley Bank failure as new tests emerge
Ben Munyan, director of supervisory policy in the Banking Supervision Department at the Federal Reserve Bank of Dallas, discusses the challenges the banking industry faces in an era of rapidly rising interest rates and how Texas institutions have fared.
Journal Article
Mexican migrants stay in border comfort zone
Limited access to migrant networks and strong geographic preferences may underlie border migrants' willingness to settle for lower wages on the border rather than seek higher wages by venturing into the U.S. interior.
Journal Article
New Technology Boosts Texas Firms' Output, Alters Worker Mix
A Federal Reserve Bank of Dallas survey of manufacturing and services firms in Texas found that as companies adopt new technologies, the number of workers is little changed though the employees? skill levels shift. While some manufacturers see tighter margins as a result of technology and globalization, service sector firms may realize increased pricing power.
Supply-Chain Woes, Labor Shortages and COVID-19 Slow Resilient Texas Economy
Regional economic growth has slowed, though it remains robust by historical standards. While demand has improved from year-ago levels, supply-chain disruptions and labor shortages have limited output growth and pushed up wages and prices.
Working Paper
Who Signs up for E-Verify? Insights from DHS Enrollment Records
E-Verify is a federal electronic verification system that allows employers to check whether their newly hired workers are authorized to work in the United States. To use E-Verify, firms first must enroll with the Department of Homeland Security (DHS). Participation is voluntary for most private-sector employers in the United States, but eight states currently require all or most employers to use E-Verify. This article uses confidential data from DHS to examine patterns of employer enrollment in E-Verify. The results indicate that employers are much more likely to sign up in mandatory E-Verify ...
Working Paper
New Findings on the Fiscal Impact of Immigration in the United States
The National Academies of Sciences, Engineering, and Medicine (2016) report on the economic and fiscal effects of immigration included the first set of comprehensive fiscal impacts published in twenty years. The estimates highlight the pivotal role of the public goods assumption. If immigrants are assigned the average cost of public goods, such as national defense and interest on the debt, then immigration?s fiscal impact is negative in both the short and long run. If, instead, immigrants are assigned the marginal cost of public goods, then the long-run fiscal impact is positive and the ...
Journal Article
Texas leads nation in creation of jobs at all pay levels
Even while the state is adding a disproportionate share of jobs, its record of robust employment growth has been clouded by questions concerning the quality of the new positions.
Journal Article
Manning the gates: migration policy in the Great Recession
During the downturn, advanced economies as well as developing countries adopted policies ranging from keeping new migrants out to encouraging resident migrants to leave.
Working Paper
Self-selection among undocumented immigrants from Mexico
This paper examines the effect of changes in migration determinants on the skill level of undocumented immigrants from Mexico. The authors focus on the effect of changes in economic conditions, migrant networks, and border enforcement on the educational attainment of Mexican-born men who cross the border illegally. Although previous research indicates that illegal aliens from Mexico tend to be unskilled relative to U.S. natives and that economic conditions, networks, and border enforcement affect the size of illegal immigrant flows across the border, the interaction of these variables has not ...
Journal Article
Spotlight: New Mexico Marijuana Legalization’s Costs, Benefits Remain Unclear
New Mexico legalized recreational marijuana use last year, joining 17 other states. Anticipated benefits and costs partially offset one another, but there is considerable uncertainty around both.