February 13, 2024
Andrew J. Fieldhouse and Karel Mertens
Our estimates indicate that government-funded R&D accounts for roughly one quarter of all business sector productivity growth since World War II, including one quarter of the deceleration in productivity growth since the late 1960s.
February 6, 2024
Emily Kerr and Ana Pranger
Texas economic growth remains healthy while gradually reverting to a more historically normal pace of expansion following the pandemic when a bust in the first half of 2020 preceded a subsequent boom.
January 16, 2024
Pon Sagnanert and Xiaoqing Zhou
After comparing economic data of the U.S. and other major advanced economies, we find tentative evidence that the slow adjustment of the outstanding mortgage rate in the U.S. has not played an important role in delaying the intended effects of the monetary tightening.
January 9, 2024
Philippe Bacchetta, J. Scott Davis and Eric van Wincoop
U.S. dollars are hard to find in foreign markets during times of heightened risk, as evidenced by two interesting and related features in the post-2007 international financial landscape.
January 2, 2024
Alexander W. Richter and Xiaoqing Zhou
Consumption was not a main driver of GDP declines in previous recessions, and a recession is not necessarily preceded by declines in consumer spending.
December 21, 2023
Diego Morales-Burnett and Luis Torres
Texas economic growth slowed in the fourth quarter, with job growth falling sharply in October and business activity contracting slightly in November.
December 19, 2023
Ron Mau and Fang Yang
The existence of large sums in state and local government coffers runs counter to historic post-recession trends. State and local governments usually grapple with budget shortfalls due to rising social program demands and weak revenue streams following recessions.
November 28, 2023
Dylan Ryfe and Alessio Saretto
Because of their prominence, reciprocal deposits are important in the broader discussion of deposit insurance. Though they have the potential to increase banks’ moral hazard, they also bring increased trust and safety to the banking system.
November 14, 2023
Sewon Hur and Braden Strackman
The Chinese economy has grown at an unprecedented pace since the 1980s. However, the pace of growth is likely to slow as China’s economy matures because of its demographic structure and its increasing proximity to economic and technological frontiers.
November 9, 2023
Jesse Thompson and Ana Pranger
The impact of a still-strong Texas jobs market and moderating business activities and costs suggest that the state’s economy may be headed for a soft landing following Fed policymaker efforts to cool inflationary pressures.