Economists

Michael Plante

Principal Research Economist
Federal Reserve Bank of Dallas

Michael Plante is a principal research economist at the Federal Reserve Bank of Dallas. He joined the Dallas Fed in 2010.

His academic research interests include macroeconomics, oil markets and the connections between energy prices and the macroeconomy. Recent research has focused on topics such as the economic impact of the U.S. shale oil boom, structural changes in oil price differentials and macroeconomic uncertainty. He has also been the project manager of the Dallas Fed Energy Survey since its inception in 2016.

He received his PhD in economics from Indiana University in August 2009. Before coming to the Dallas Fed, Plante was an assistant professor at Ball State University for a year.

Publications

“Complementarity and Macroeconomic Uncertainty,” with Tyler Atkinson, Alexander Richter and Nathaniel Throckmorton, Review of Economic Dynamics, Forthcoming. https://doi.org/10.1016/j.red.2021.03.003.
“Resource Booms and the Macroeconomy: The Case of U.S. Shale Oil,” with Nida Cakir Melek and Mine Yucel, Review of Economic Dynamics, Forthcoming. https://doi.org/10.1016/j.red.2020.11.006.
“Closer to One Great Pool? Evidence from Structural Breaks in Oil Price Differentials,” with Grant Strickler, The Energy Journal, vol. 42, no. 2, 2021, pp. 1-30. https://doi.org/10.5547/01956574.42.2.mpla.
“OPEC in the News,” Energy Economics, vol. 80, May 2019, pp. 163-172. https://doi.org/10.1016/j.eneco.2018.12.025.
“Oil Prices and the Macroeconomy,” with Lance J. Bachmeier, Routledge Handbook of Energy Economics, 2019. https://doi.org/10.4324/9781315459653-4.
“The Zero Lower Bound and Endogenous Uncertainty,” with Alexander W. Richter and Nathaniel A. Throckmorton, Economic Journal, vol. 128, no. 611, June 2018, pp. 1730-1757. https://doi.org/10.1111/ecoj.12445.
“Inventory Shocks and the Oil-Ethanol-Grain Price Nexus,” with Navi Dhaliwal, Economics Letters, vol. 156, July 2017, pp. 58-60. https://doi.org/10.1016/j.econlet.2017.03.036.
“Fuel Subsidies, the Oil Market, and the World Economy,” with Nathan S. Balke and Mine Yucel, The Energy Journal, vol. 36, no. S, 2016, pp. 99-127. https://doi.org/10.5547/01956574.36.SI1.nbal.
“The Impact of Changing Energy Prices on the Texas Economy,” with Amy Jordan, Nicole Lake and Mine K. Yucel, Ten-Gallon Economy: Sizing up Economic Growth in Texas, 2015, pp. 139-158. https://doi.org/10.1057/9781137530172_10.
“How Should Monetary Policy Respond to Changes in the Relative Price of Oil? Considering Supply and Demand Shocks,” Journal of Economic Dynamics and Control, vol. 44, July 2014, pp. 1-19. https://doi.org/10.1016/j.jedc.2014.04.002.
“The Long-Run Macroeconomic Impacts of Fuel Subsidies,” Journal of Development Economics, vol. 107, March 2014, pp. 129-143. https://doi.org/10.1016/j.jdeveco.2013.11.008.
“Dynamics of Fiscal Financing in the United States,” with Eric M. Leeper and Nora Traum, Journal of Econometrics, vol. 156, no. 2, June 2010, pp. 304-321. https://doi.org/10.1016/j.jeconom.2009.11.001.

Working Papers

“Time-varying Oil Price Volatility and Macroeconomic Aggregates,” with Nora Traum, Federal Reserve Bank of Dallas Working Paper no. 1201, February 2012.

Dallas Fed Publications

Dallas Fed Energy Survey, 2016–present.
“How Falling Oil Prices in Early 2020 Weakened the U.S. Economy,” with Lutz Kilian and Xiaoqing Zhou, Dallas Fed Economics, May 19, 2020.
“Dallas Fed Energy Survey Results Point to Bleak Outlook for Oil Industry,” with Kunal Patel, Dallas Fed Economics, March 26, 2020.
“GDP Gain Realized in Shale Boom's First 10 Years,” with Mine Yücel, Dallas Fed Economics, August 20, 2019.
“Breakeven Oil Prices Underscore Shale's Impact on the Market,” with Kunal Patel, Dallas Fed Economics, May 21, 2019.
“Modern Refineries, Shale Boom Upend Traditional Oil Price Relationships,” with Grant Strickler, Dallas Fed Economics, April 9, 2019.
“Dallas Fed Energy Survey Suggests Oil Price Drop Won't Cause Sector Collapse in 2019,” with Kunal Patel, Dallas Fed Economics, February 14, 2019.
“2018 Outlook Unchanged Despite Harvey Impacts,” with Justin J. Lee, Quarterly Energy Update, 3rd quarter 2017.
“Fed's Effective Lower Bound Constraint on Monetary Policy Created Uncertainty,” with Alexander Richter and Nathaniel A. Throckmorton, Economic Letter, 12(11), 2017.
“Signs of Recovery Emerge in the U.S. Oil Market,” with Rachel Brasier and Justin J. Lee, Quarterly Energy Update, 3rd quarter 2016.
“Hopes and Fears About Oversupply Whipsaw Oil Prices,” with Navi Dhaliwal, Quarterly Energy Update, 1st quarter 2016.
“Plunging Oil Prices: A Boost for the U.S. Economy, a Jolt for Texas,” with Anthony Murphy and Mine Yücel, Economic Letter, 10(3), 2015.
“Oil Prices Sink in Third Quarter,” with Amy Jordan, Quarterly Energy Update, 3rd quarter 2015.
“The Texas Energy Industry: From Boom to Gloom,” with Mine Yücel, Federal Reserve Bank of Dallas Annual Report, 2015.
“Texas Feels Energy Drain: Lower Oil Prices Weaken Prospects for Job, Economic Growth,” Southwest Economy, 1st quarter 2015.
“Oil Prices Retreat Following a Brief Uptick,” with Kristin Davis, Quarterly Energy Update, 1st quarter 2015.
“Oil Prices Plummet amid Growing Supply-Demand Imbalances,” with Kristin Davis, Quarterly Energy Update, 4th quarter 2014.
“Crude Oil Export Ban Benefits Some - but Not All,” Economic Letter, 9(7), 2014.
“International and Domestic Crude Price Differential Narrows,” with Kristin Shepherd, Quarterly Energy Update, 2nd quarter 2014.
“Reforma Energetica: Mexico Takes First Steps to Overhaul Oil Industry,” with Jesus Canas, Southwest Economy, 2nd quarter 2014.
“Renewable Fuel Standards Hit the Blend Wall,” Economic Letter, 9(2), 2014.
“Surging US Oil Production Puts Downward Pressure on Domestic Crude Prices,” with Amy Jordan, Quarterly Energy Update, 4th quarter 2013.
“Getting Prices Right: Addressing Mexico's History of Fuel Subsidies,” with Amy Jordan, Southwest Economy, 3rd quarter 2013.
“Gap Between Domestic and International Crude Prices Shrinks,” with Amy Jordan, Quarterly Energy Update, 2nd quarter 2013.
“On the Record: Increased U.S. Energy Supply Helps Offset Tight Global Conditions,” Southwest Economy, 4th quarter 2012.
“Prices Gain Strength,” with Amy Jordan, Quarterly Energy Update, 3rd quarter 2012.
“Prices Decline as Sentiment about Economy Weakens,” with Jackson Thies, Quarterly Energy Update, 2nd quarter 2012.
“Oil Prices Creep Higher,” with Jackson Thies, Quarterly Energy Update, 1st quarter 2012.
“Market Expectations and Corn Prices: Looking into the Future to Explain the Present,” Economic Letter, 7(7), 2012.
“Oil Prices Fall as Economic Growth Slows,” with Jackson Thies, Quarterly Energy Update, 3rd quarter 2011.
“Oil Prices Retreat as Economic Growth Slows,” with Jackson Thies, Quarterly Energy Update, 2nd quarter 2011.
“Commodity Futures Investing: Method to the Madness,” with Jackson Thies, Economic Letter, 7(5), 2012.
“Did Speculation Drive Oil Prices? Futures Market Points to Fundamentals,” with Mine Yücel, Economic Letter, 6(10), 2011.
“Did Speculation Drive Oil Prices? Market Fundamentals Suggest Otherwise,” with Mine Yücel, Economic Letter, 6(11), 2011.