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Highlighting the dynamic economy of Texas, northern Louisiana and southern New Mexico

Southwest Economy

Ana Pranger and Yichen Su

With workers still grappling with the consequences of automation, the lightning-speed pace of artificial intelligence (AI) development poses fresh concerns of a new wave of worker displacement.

Jesse Thompson and Keighton Hines

Lore and data have historically suggested that Texas is unlike any other place. Over the past 40 years, change has swept the state. Texas’ employment composition has increasingly come to resemble the entirety of the U.S., more so than even California or New York. But Texas economic output is another story.

Economist Jeffrey Fuhrer, a nonresident fellow at the Brookings Institution and former Boston Fed director of research, discusses "The Myth that Made Us," his new book about inequalities in the nation’s economic system. He offers proposals to close the nation’s wealth gap in a discussion with Dallas Fed economist Pia Orrenius.

University of Chicago Booth School associate professor Michael Weber explains how audiences are most receptive to monetary policy messaging delivered by Fed officials whose ethnic or gender background is similar to theirs. The tendency is also generally observed in other communications contexts, he tells Dallas Fed economist Pia Orrenius.

Jesus Cañas and Ana Pranger

Remittances from the U.S. to Mexico reached a record $55.9 billion in 2022. Strong employment in the U.S. construction sector—a leading employer of Mexican migrants—best explains the recent growth of remittances to Mexico.

Aparna Jayashankar, Prithvi Kalkunte, Anil Kumar and Pia Orrenius

As climate change intensifies over the next decade, summer heat waves will likely become more common and severe. The effect on Texas GDP growth is likely to be twice as pronounced as in the rest of the U.S. Meanwhile, the effect on job growth will likely be relatively subdued but vary widely across sectors.

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Southwest Economy

Southwest Economy is published by the Federal Reserve Bank of Dallas. The views expressed are those of the authors and should not be attributed to the Federal Reserve Bank of Dallas or the Federal Reserve System.

Articles may be reprinted on the condition that the source is credited to the Federal Reserve Bank of Dallas.