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Dallas Fed Economics Archive

Analysis and insights to enhance your understanding of the economy

 

  • Mark Wynne and Lillian Derr

    Artificial intelligence offers the potential to improve people’s living standards. Such advances can be approximated by changes in GDP per capita over time. Using that common measure, AI could enhance longstanding productivity gains or, alternatively, drastically alter the economy in relatively short order.
  • Mark Wynne and Lillian Derr

    Recent rapid improvements in the capabilities of artificial intelligence have raised concerns about these technologies' impact on employment. The ultimate effects of AI on the workforce will depend on the extent to which AI augments (or complements) rather than automates (or substitutes for) workers' tasks. Will this new technology aid workers or replace them?
  • Laila Assanie, Ethan Dixon and Emily Kerr

    The Federal Reserve's Beige Book, a key tool for identifying U.S. business-cycle shifts, has traditionally aligned with economic data. However, postpandemic, its economic characterizations often appear weaker than what hard data indicated, raising concerns of divergence from official statistics.
  • Enrique Martínez García and Michael Sposi

    In Depth: U.S. tariff policy has historically shifted among competing goals: providing revenue, protecting domestic markets and opening foreign markets to domestic producers. These goals are unlikely to be achieved simultaneously.
  • Prithvi Kalkunte and Mariam Yousuf

    The cyclicality of industries and their behavior provide early indications of economic turning points in Texas and the U.S. and provide a timelier view than other data that are widely used to confirm downturns and expansions.
  • Sam Schulhofer-Wohl

    This essay examines the trade-offs between different monetary policy implementation methods through the lens of the consolidated government balance sheet and income statement
  • Jesus Cañas and Diego Morales-Burnett

    The Texas economy grew slightly below trend through the first quarter of 2025. While job growth appears just off its long-term annual trend rate of about 2.1 percent, the Dallas Fed Texas Business Outlook Surveys (TBOS) point to slowing activity in both the services and manufacturing sectors.
  • Alexander Chudik and Ron Mau

    The U.S. has enjoyed strong payroll job gains in the past couple of years despite generally restrictive monetary policy. The sectoral composition of employment reveals job growth has been concentrated in areas that are the least sensitive to national employment fluctuations over the business cycle.
  • Isabel Dhillon and Pia Orrenius

    While experiencing exceptional economic growth over the past decade, data show that Texas is last or lagging the nation in several key areas.
  • Anthony Murphy, Ben Munyan and Dylan Ryfe

    While the key measures suggest that conditions that hamper a bank’s resilience to economic adversity are marginally higher than before the pandemic in 2019, we expect further declines in bank stress levels as interest rates normalize.