A comprehensive list of recently added postings on Dallasfed.org.
Credit and Housing Price Effects of Automated Underwriting Adoption
This paper studies how the 1990s adoption of now widely-used automated mortgage underwriting systems affected credit, house prices and their comovement across locations.
January 17, 2025
Climate Risk, Insurance Premiums and the Effects on Mortgage and Credit Outcomes
As climate change exacerbates natural disasters, homeowners’ insurance premiums are rising dramatically. This paper examines the impact of premium increases on borrowers’ mortgage and credit outcomes using new data on home insurance policies for 6.7 million borrowers.
January 16, 2025
The Impact of Labels on Real Asset Valuations
This paper shows that neighborhood labels, frequently used in realtors’ property descriptions, have a causal impact on the demand for housing.
January 15, 2025
Eleventh District Beige Book
The Eleventh District economy continued to expand moderately over the reporting period. Growth resumed in manufacturing output and activity picked up in nonfinancial services and retail. Bank loan volume expanded, and banks reported increased demand for loans despite continued credit tightening.
January 15, 2025
Solar, battery capacity saved the Texas grid last summer; an uncertain future awaits
As ERCOT forecasts accelerated load growth due to anticipated data center construction and electrification trends, the current generation mix and market design should garner increased scrutiny.
January 14, 2025
Up in Smoke: The Impact of Wildfire Pollution on Healthcare Municipal Finance
Wildfire smoke pollution is associated with significantly higher healthcare municipal borrowing costs, amounting to $250 million in realized interest costs for high-smoke counties in 2010–2019, and an estimated $570 million over the following 10 years.
January 9, 2025
Air Pollution and Rent Prices: Evidence from Wildfire Smoke Plumes
This paper leverages quasi-experimental wildfire smoke shocks to analyze the causal effect of air pollution (PM2.5) on rent prices, using satellite-based smoke plumes data and ambient air pollution data.
January 8, 2025
Dynamics of Market Power in Monetary Economies
This paper studies the dynamic interplay between monetary policy and market power in a decentralized monetary economy. Building on Choi and Rocheteau (2024), its key innovation is to model rent seeking as a process that takes time, allowing market power to evolve gradually.
January 7, 2025
Austin Economic Indicators, January 2025
Austin experienced modest employment growth in November accompanied by a stable unemployment rate. Average hourly wages were up, and retail sales tax collections were flat.
January 7, 2025
DFW Economic Indicators, Jan. 2025
The Dallas−Fort Worth economy slowed in November. Employment fell slightly, and unemployment held steady. Prices rose at a slower pace.
January 7, 2025