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Southwest Economy, First Quarter 2020

First Quarter 2020

This issue of Southwest Economy publishes at a difficult time for the nation. These articles were prepared before the coronavirus (COVID–19) pandemic; thus, the issue contains a selection of material examining longer-run trends within the Eleventh District that, while not directly related to the current challenges, will remain relevant as we move forward.
Mexico’s Higher Costs Under USMCA May Potentially Offset Gains from China-Related Trade Spurt with U.S.

Approval of the United States–Mexico–Canada Agreement (USMCA) could change trade within the North American region, affecting output and weakening North America’s global competitiveness.

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Groundwater Markets Slowly Evolve in Ever-Thirstier Texas

Texas’ growing population is increasing the demand for water, a commodity that in many parts of the state is subject to wide swings from abundance during wet cycles to shortfall during droughts.

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Mexico Seeks to Reduce Consumers' Longstanding Reliance on Cash

Unlike the U.S., where consumers opt to pay with debit and credit cards or via apps, Mexico and its large informal economy continue to rely on hard cash. A new digital payment platform from the nation’s central bank aims to reduce the role of currency.

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Policy Changes Could Boost Women’s Participation in U.S. Workforce

Fang Yang, an associate professor of economics at Louisiana State University in Baton Rouge, discusses the labor market impacts of tax policy, an evolving U.S. workforce, the effects of gender and an aging population.

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Spotlight: Permian’s Shale-Era Oil Production Rises Even as Rig Count Falls

A change in the number of active drilling rigs is no longer the reliable predictor for near-term oil production growth that it once was.

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Go Figure: Migrant Apprehensions at U.S.-Mexico Border Spike in 2019

Apprehensions of migrants at the U.S. southern border surged in spring 2019.

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Snapshot: COVID-19 Hits Manufacturers

Softening oil prices and price expectations, negative stock market returns and tightening credit conditions are putting downward pressure on energy industry activity and employment.

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Authors

Jesus Cañas

Michael Perez

Keith R. Phillips

Judy Teng

Emma Marshall

Jesse Thompson

Justin Chavira

Carlee Crocker

Pia M. Orrenius

Chloe Smith

Southwest Economy is published quarterly 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.