A comprehensive list of recently added postings on Dallasfed.org.
Did the Tax Cuts and Jobs Act Create Jobs and Stimulate Growth?
The Tax Cuts and Jobs Act of 2017 is the most extensive overhaul of the U.S. income tax code since the Tax Reform Act of 1986.
August 8, 2023
Emerging-market countries insulate themselves from Fed rate hikes
Earlier episodes of sizable Fed tightening preceded destabilizing currency devaluations in emerging markets, precipitating sovereign debt and banking crises in many of those economies.
August 8, 2023
Eleventh District Beige Book
The Eleventh District economy continued to expand at a modest pace overall. Solid growth was seen in the nonfinancial services sector, while retail sales were flat and activity in the manufacturing, energy, and financial services sectors declined.
August 6, 2023
Texas shows signs of slowing; price pressures ease despite buoyant services
Texas job growth slowed in June, though it still exceeded the U.S. rate. Meanwhile, the state economy continued to expand despite the downshift in employment and weakness in manufacturing.
August 3, 2023
Austin Economic Indicators
Austin experienced broad job gains in June, with most sectors expanding. The unemployment rate declined, and hourly earnings continued to grow.
August 2, 2023
Labor market recovery and wage growth unequal across age groups after pandemic
The COVID-19 pandemic severely depressed U.S. labor force participation. Although the pandemic has eased, people ages 20–24 and those over 55 have been less likely to return to the workforce.
August 2, 2023
Texas service sector activity accelerates
Growth in Texas service sector activity expanded at a faster pace in July, according to business executives responding to the Texas Service Sector Outlook Survey.
August 1, 2023
Wage growth still exceeds 3 percent despite slowing in business survey measures
Fed policymakers working to reduce inflation have closely monitored how fast wages have risen. National estimates put recent 12-month wage inflation at around 4–5 percent, though these measures can lag other indicators of labor market conditions. More timely wage data can be found from the five regional Federal Reserve Banks that run business surveys.
August 1, 2023
How to Construct Monthly VAR Proxies Based on Daily Futures Market Surprises
This paper provides a new approach to constructing monthly proxies from daily surprises that takes account of the link between daily and average monthly price data and revisits the question of how to use OPEC announcements to identify news shocks in VAR models of the global oil market.
July 31, 2023
Global Transportation Decarbonization
A number of policy proposals call for replacing fossil fuels in the name of decarbonization, but these fuels will be difficult to replace due to their as-yet unrivaled bundle of attributes: abundance, ubiquity, energy density, transportability and cost.
July 31, 2023