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BigTex High-Performance Computing

About BigTex

As economic research becomes more data intensive and models become more complex, computing power is ever-more important. BigTex, provided by the Federal Reserve Bank of Dallas, is the largest high-performance computing (HPC) environment in the Federal Reserve System. It is used by Federal Reserve economists and their co-authors to investigate the big problems that only vast computing resources allow.

This research benefits Federal Reserve economists as well as researchers in academia and industry. Recent examples include research on the nonlinear impacts of the business cycle and monetary policy, algorithms that enable a researcher to update estimators using new data, and designing the best possible unemployment insurance payments during recessions and expansions. Check out the list of papers that were published as a result of using BigTex to learn more.

Access:

For further information about the environment or to request access, please email dal.bigtex.support@dal.frb.org.

Research

BigTex has opened the door to frontier economic research. The following is a list of working papers and publications in peer-reviewed academic journals that were supported in part through the computational resources provided by the BigTex high-performance computing environment.

Published papers
  1. “On Regional Borrowing, Default, and Migration,” G. Gordon and P. Guerron-Quintana, Journal of International Economics, vol. 150, 2024, 103916. https://doi.org/10.1016/j.jinteco.2024.103916.
  2. “Sovereign Debt and Credit Default Swaps,” G. Chaumont, G. Gordon, B. Sultanum and E. Tobin, Journal of International Economics, vol. 150, 2024, 103921. https://doi.org/10.1016/j.jinteco.2024.103921.
  3. “The Heterogeneous Effects of Government Spending: It’s All About Taxes,” A. Ferriere and G. Navarro, The Review of Economic Studies, 2024. https://doi.org/10.1093/restud/rdae032.
  4. “Local Ties in Spatial Equilibrium,” M. Zabek, American Economic Journal: Macroeconomics, vol. 16, no. 2, 2024, pp. 287–317. https://doi.org/10.1257/mac.20210326.
  5. “A Simple Explanation of Countercyclical Uncertainty,” J. Bernstein, M. Plante, A. Richter and N. Throckmorton, American Economic Journal: Macroeconomics, forthcoming.
  6. “Pooled Bewley Estimator of Long-Run Relationships in Dynamic Heterogenous Panels,” A. Chudik, M. H. Pesaran and R. P. Smith, Econometrics and Statistics, forthcoming. https://doi.org/10.1016/j.ecosta.2023.11.001.
  7. “The Matching Function and Nonlinear Business Cycles,” J. Bernstein, A. W. Richter and N. A. Throckmorton, Journal of Money, Credit and Banking, forthcoming. https://doi.org/10.1111/jmcb.13115.
  8. “Labor Market Responses to Unemployment Insurance: The Role of Heterogeneity,” S. Birinci and K. See, American Economic Journal: Macroeconomics, vol. 15, no. 3, 2023, pp. 388–430. https://doi.org/10.1257/mac.20200057.
  9. “On the Distributional Effects Of International Tariffs,” D. Carroll and S. Hur, International Economic Review, vol. 64, 2023, pp. 1311–1346. https://doi.org/10.1111/iere.12648.
  10. “Revisiting the Great Ratios Hypothesis,” A. Chudik, M. H. Pesaran and R. P. Smith, Oxford Bulletin of Economics and Statistics, vol. 85, 2023, pp. 1023–1047. https://doi.org/10.1111/obes.12571.
  11. “On the Optimal Design of Transfers and Income Tax Progressivity,” A. Ferriere, P. Grubener, G. Navarro and O. Vardishvili, Journal of Political Economy Macroeconomics, vol. 1, no. 2, 2023, pp. 267–333. https://www.journals.uchicago.edu/doi/abs/10.1086/725034.
  12. “Incarceration, Employment and Earnings: Dynamics and Differences,” G. Gordon, J. B. Jones, U. Neelakantan and K. Athreya, Review of Economic Dynamics, vol. 51, 2023, pp. 677-697. https://doi.org/10.1016/j.red.2023.06.007.
  13. “Approximating Grouped Fixed Effects Estimation via Fuzzy Clustering Regression,” D. Lewis, D. Melcangi, L. Pilossoph and A. Toner-Rodgers, Journal of Applied Econometrics, vol. 38, no. 7, 2023, pp. 1077-1084. https://doi.org/10.1002/jae.2997.
  14. “How To Go Viral: A COVID-19 Model with Endogenously Time-Varying Parameters,” P. Ho, T. A. Lubik and C. Matthes, Journal of Econometrics, vol. 232, 2023, pp. 70–86. https://doi.org/10.1016/j.jeconom.2021.01.001.
  15. “Macroeconomic Forecasting and Variable Ordering in Multivariate Stochastic Volatility Models,” J. E. Arias, J. F. Rubio-Ramirez and M. Shin, Journal of Econometrics, vol. 235, no. 2, 2023, pp. 1054–1086. https://doi.org/10.1016/j.jeconom.2022.04.013.
  16. “Global Robust Bayesian Analysis in Large Models,” P. Ho, Journal of Econometrics, vol. 235, no. 2, 2023, pp. 608–642. https://doi.org/10.1016/j.jeconom.2022.06.004.
  17. “The Distributional Effects of COVID-19 and Optimal Mitigation Policies,” S. Hur, International Economic Review, vol. 64, no. 1, 2023, pp. 261–294. https://doi.org/10.1111/iere.12601.
  18. “Valuation Risk Revalued,” O. De Groot, A. W. Richter and N. A. Throckmorton, Quantitative Economics, vol. 13, 2022, pp. 723–759. https://doi.org/10.3982/QE1779.
  19. “Complementarity and Macroeconomic Uncertainty,” T. Atkinson, M. Plante, A. Richter and N. Throckmorton, Review of Economic Dynamics, vol. 44, 2022, pp. 225–243. https://doi.org/10.1016/j.red.2021.03.003.
  20. “An Augmented Anderson-Hsiao Estimator for Dynamic Short-T Panels,” A. Chudik and M. H. Pesaran, Econometric Reviews, vol. 41, 2022, pp. 416–447. https://doi.org/10.1080/07474938.2021.1971388.
  21. “Shock-Dependent Exchange Rate Pass-Through: Evidence Based on a Narrative Sign Approach for Japan,” L. An, M. A. Wynne and R. Zhang, Journal of International Money and Finance, vol. 118, 2021. https://doi.org/10.1016/j.jimonfin.2021.102462.
  22. “Cyclical Net Entry and Exit,” J. Bernstein, A. W. Richter and N. A. Throckmorton, European Economic Review, vol. 136, 2021. https://doi.org/10.1016/j.euroecorev.2021.103752.
  23. “The Zero Lower Bound and Estimation Accuracy,” T. Atkinson, A. W. Richter and N. A. Throckmorton, Journal of Monetary Economics, vol. 115, 2020, pp. 249–264. https://doi.org/10.1016/j.jmoneco.2019.06.007.
  24. “Online Estimation of DSGE Models,” M. Cai, M. Del, E. Herbst, E. Matlin, R. Sarfati and F. Schorfheide, Econometrics Journal, vol. 24, 2020, pp. 33–58. https://doi.org/10.1093/ectj/utaa029.
  25. “The Heterogeneous Effects of Global and National Business Cycles on Employment in US States and Metropolitan Areas,” A. Chudik, J. Koech and M. Wynne, Oxford Bulletin of Economics and Statistics, vol. 83, 2020, pp. 495–517. https://doi.org/10.1111/obes.12402.
Working papers
  1. “Macroeconomic Responses to Uncertainty Shocks: The Perils of Recursive Orderings,” L. Kilian, M. D. Plante and A. W. Richter, Federal Reserve Bank of Dallas Working Paper no. 2223, 2022, revised 2024. https://doi.org/10.24149/wp2223.
  2. “Joint Search over the Life Cycle,” A. Bacher, P. Grübener and L. Nord, Manuscript, Federal Reserve Bank of Minneapolis, 2024.
  3. “The Allocation of Immigrant Talent: Macroeconomic Implications for the U.S. and Across Countries,” S. Birinci, F. Leibovici and K. See, Federal Reserve Bank of St. Louis Working Paper 2021-004D, 2024. https://doi.org/10.20955/wp.2021.004.
  4. “Optimal Fiscal Reform with Many Taxes,” D. R. Carroll, A. Luduvice and E. Young, Federal Reserve Bank of Cleveland Working Paper 23-07, 2023. https://doi.org/10.26509/frbc-wp-202307.
  5. “Marriage Market Sorting in the U.S.,” A. Cheremukhin, P. Restrepo-Echavarria and A. Tutino, Federal Reserve Bank of St Louis Working Paper 2023-023, 2023. https://doi.org/10.20955/wp.2023.023.
  6. “Job Applications and Labor Market Flows,” S. Birinci, K. See and S. L. Wee, Federal Reserve Bank of St. Louis Working Paper 2020-023, 2023. https://doi.org/10.20955/wp.2020.023.
  7. “Optimal Bailouts in Banking and Sovereign Crises,” S. Hur, C. Sosa-Padilla and Z. Yom, NBER Working Paper 28412, 2022. https://doi.org/10.3386/w28412.
  8. “The Impact of Racial Segregation on College Attainment in Spatial Equilibrium,” V. Gregory, J. Kozlowski and H. Rubinton, Federal Reserve Bank of St. Louis Working Paper 2022-036A, 2022. https://doi.org/10.20955/wp.2022.036.
  9. “Liquidity and Investment in General Equilibrium,” N. Caramp, J. Kozlowski and K. Teeple, Federal Reserve Bank of St. Louis Working Paper 2022-022B, 2022. https://doi.org/10.20955/wp.2022.022.
  10. “Credit and Liquidity Policies During Large Crises,” M. Ebsim, M. F. E Castro and J. Kozlowski, Federal Reserve Bank of St. Louis Working Paper 2020-035, 2022. https://doi.org/10.20955/wp.2020.035.
  11. “Beliefs, Aggregate Risk, and the U.S. Housing Boom,” M. M. Jacobson, Finance and Economics Discussion Series Working Paper 2022-061, 2022. https://doi.org/10.17016/FEDS.2022.061.
  12. “Labor Market Shocks and Monetary Policy,” S. Birinci, F. Karahan, Y. Mercan and K. See, Federal Reserve Bank of St. Louis Working Paper 2022-016A, 2022. https://doi.org/10.20955/wp.2022.016.
  13. “Spousal Labor Supply Response to Job Displacement and Implications for Optimal Transfers,” S. Birinci, Federal Reserve Bank of St. Louis Working Paper 2019-20, 2021. https://doi.org/10.20955/wp.2019.020.
  14. “Variable Selection and Forecasting in High Dimensional Linear Regressions with Structural Breaks,” A. Chudik, M. H. Pesaran and M. Sharifvaghefi, Federal Reserve Bank of Dallas Globalization Institute Working Paper no. 394, 2021. https://doi.org/10.24149/gwp394r1.