International economy
Learn about global economic growth and its effects on U.S. monetary policy
Spotlight
Global Institute
The Institute delivers critical insights and analysis on monetary policy issues impacting the U.S. economy and its deep financial and economic relationship with Mexico.
Read more
International House Price Database, first quarter 2024 data
The International House Price Database comprises quarterly house price and personal disposable income (PDI) series for 25 different countries with data since 1975.
Read more
Database of Global Economic Indicators
This database standardizes and disseminates world economic indicators for policy analysis and scholarly work on the role of globalization.
Read more
Dallas Fed Economics
International factors broadly explain postpandemic inflation
The recent co-movement of inflation across countries, including the U.S., can be explained in part by global and regional factors. Policymakers, who have tended to more closely look closer to home may want to more broadly consider global events and pressures when addressing changing inflation pressures.
Read more
Rising unemployment does not mean recession is inevitable
The sort of increase seen in the U.S. unemployment rate over the past year is an oft-noted predictor of recession. Yet, forecasters currently expect only a modest increase in unemployment with no recession. Is this a reasonable expectation, and if so, how is this unemployment episode different from others?
Read more
Working papers and research
The Contribution of Foreign Holdings of U.S. Treasury Securities to the U.S. Long-Term Interest Rate: An Empirical Investigation of the Impact of the Zero Lower Bound
This paper finds empirical evidence of a possible structural break in the relationship between the foreign holdings of U.S. Treasury securities and the U.S. long-term interest rate occurring at the time when U.S. monetary policy became constrained at the zero-lower bound (ZLB).
Read more
Exchange Rate Determination Under Limits to CIP Arbitrage
Recent theories of exchange rate determination have emphasized limited UIP arbitrage by international financial institutions. New regulations since 2008 have also led to imperfect CIP arbitrage. This paper shows that under limited CIP arbitrage the exchange rate and CIP deviation are jointly determined by equilibrium in the FX spot and swap markets.
Read more
Just Do IT? An Assessment of Inflation Targeting in a Global Comparative Case Study
This paper introduces novel measures to assess the effectiveness of inflation targeting (IT) and examines its performance across a broad sample of advanced economies (AEs) and emerging market and developing economies (EMDEs).
Read more
Xtpb: The Pooled Bewley Estimator of Long Run Relationships in Dynamic Heterogeneous Panels
This paper introduces a new Stata command, xtpb, that implements the Chudik, Pesaran and Smith (2023) Pooled Bewley (PB) estimator of long-run relationships in dynamic heterogeneous panel-data models.
Read more
Deindustrialization and Industry Polarization
This paper adds to recent evidence on deindustrialization and documents a new pattern: increasing industry polarization over time.
Read more
Unequal Climate Policy in an Unequal World
This paper studies climate policy in an economy with heterogeneous households, two types of goods (clean and dirty), and a climate externality from the dirty good.
Read more
See all papers
Discover articles and papers from our research team