A comprehensive list of recently added postings on Dallasfed.org.
Remarks for Hoover Institution monetary policy conference
In his remarks given on May 3, 2019, at “Strategies for Monetary Policy: A Policy Conference” hosted by the Hoover Institution, President Rob Kaplan discusses some of the potential issues raised by recent weakness in headline and core inflation measures.
May 7, 2019
Two Measures of Core Inflation: A Comparison
Trimmed-mean Personal Consumption Expenditure (PCE) inflation is a less-biased real-time estimator of headline inflation than ex-food-and-energy PCE inflation and more successfully filters out headline inflation’s transitory variation.
May 6, 2019
Adverse Selection, Lemons Shocks and Business Cycles
This paper studies a dynamic economy featuring asymmetric information and resulting adverse selection in credit markets.
May 3, 2019
PCE Inflation Update, March 2019
The headline, or all-items, PCE price index rose 2.4 percent at an annualized rate in March following a 1.3 percent annualized increase in February.
May 3, 2019
Austin Economic Indicators
The Austin economy grew slowly in the first quarter. Growth in the Austin Business-Cycle Index decreased slightly and continued to run below its long-term trend.
May 3, 2019
El Paso Economic Indicators
El Paso’s economy continues to expand, with jobs rising 2.1 percent year to date. March existing-home sales picked up from February but are below year-ago levels.
April 30, 2019
Houston Economic Indicators
Recent data for Houston are mixed, but they continue to paint a moderately positive outlook for the region.
April 29, 2019
San Antonio Economic Indicators
The San Antonio economy expanded at a healthy pace in March. The unemployment rate declined to a multiyear low. The San Antonio Business-Cycle Index continued to expand at a rate above the long-term trend.
April 25, 2019
Upstream, Downstream & Common Firm Shocks
We develop a multi-sector DSGE model to calculate upstream and downstream industry exposure networks from U.S. input-output tables and test the relative importance of shocks from each direction by comparing these with estimated networks of firms’ equity return responses to one another.
April 24, 2019
Dallas-Fort Worth Economic Indicators
Dallas–Fort Worth economic growth continued to be healthy in March. Payroll employment in the first quarter expanded at its fastest rate in two and a half years.
April 23, 2019