A comprehensive list of recently added postings on Dallasfed.org.
Weekly Economic Index
The WEI is currently 2.62 percent, scaled to four-quarter GDP growth, for the week ended August 2 and 2.58 percent for July 26.
August 7, 2025
Low oil prices, local impact: do depressed energy markets affect banks?
Oil prices have swung dramatically in recent years, shaped by geopolitical conflicts, evolving global demand and shifting energy policies.
August 7, 2025
Accounting for interest rate risk: Matching Fed assets to liabilities
In-Depth: The Fed has floating-rate liabilities as well as long-lived, zero-interest liabilities. A barbell of floating-rate and long-duration assets would best offset the interest rate risk from these liabilities. Investing in a more diversified mix of durations, while matching the average duration of assets, could be more practical than the barbell approach but would leave a substantial portion of interest rate risk unhedged.
August 7, 2025
Time-Limited Subsidies: Optimal Taxation with Implications for Renewable Energy Subsidies
Pigouvian subsidies are efficient, but output subsidies with uncertain or limited durations are not Pigouvian. This paper shows that optimal “time-limited” policies must also subsidize investment to correct externalities generated after the output subsidy ends.
August 5, 2025
A History of U.S. Tariffs: Quantifying Strategic Trade-Offs in Tariff Policy Design
U.S. tariff policy has historically balanced competing goals—revenue, protection and reciprocity. Policy priorities have shifted over time in response to changing economic and political conditions. Using a calibrated general equilibrium model, this paper illustrates these trade-offs through the lens of tariff Laffer curves.
August 5, 2025
Southern New Mexico Economic Indicators
Employment in Southern New Mexico grew in the second quarter. The unemployment rate fell but remained higher than the state and nation.
August 5, 2025
How do reciprocal deposit networks interact with deposit insurance?
Reciprocal deposit networks are designed to increase the total amount eligible for FDIC deposit insurance. In recent years, growth of the networks has accelerated, prompting a re-evaluation of the existing deposit insurance framework and raising at least three questions.
August 5, 2025
The Fatal Consequences of Brain Drain
This paper examines the welfare consequences of reallocating high-skilled labor across national borders.
August 4, 2025
Dallas−Fort Worth Economic Indicators
The Dallas–Fort Worth economy slowed in June. Employment declined, and unemployment edged down. Hourly earnings rose and are higher than hourly earnings for both the state and nation.
August 4, 2025
El Paso Economic Indicators
Employment growth in El Paso slowed over the past three months. The unemployment rate declined in June. Existing-home sales ticked down, while months of inventory increased further. Trade volumes continued to trend upward.
August 4, 2025