Dallas Fed Economics
Russia counters sanctions’ impact with currency controls, averts crisis (for now)
The Russian central bank responded to unprecedented sanctions with strict capital controls that have stabilized the value of its currency—the ruble.
May 31, 2022
Dallas Fed Economics
Commodity financing markets shaken by Russia invasion; monitoring for U.S. financial stress
While volatility in commodity markets is not unusual, rapid and correlated price increases across many different types of commodities at once is much rarer.
April 14, 2022
Dallas Fed Economics
Asset prices, leverage and portfolio rebalancing drive global capital flows cycle
The amount of leverage—borrowed funds relative to the value of underlying assets—increases for risky holdings during downturns, motivating their ultimate sale to achieve a more secure financial position. The opposite occurs during upswings, as risky assets gain favor.
November 30, 2021
Dallas Fed Economics
Don’t Look to the 2013 Tantrum for the Effect of Tapering on Emerging Markets
Many emerging markets have improved their external balance sheets since the volatility evidenced during the "taper tantrum" of 2013 and would be much less vulnerable to Federal Reserve tapering today.
August 10, 2021
Special Report
Forging a New Path in North American Trade and Immigration
The proceedings from this 2019 conference explore challenges and opportunities presented by the USMCA.
July 13, 2021
Optimal Bailouts in Banking and Sovereign Crises
This paper finds that larger bailouts relax financial frictions and increase output but increase fiscal needs and default risk.
February 27, 2021
Dallas Fed Economics
Emerging-market economies face COVID-19 and a 'sudden stop' in capital flows
A rise in global risk at a time of investor risk aversion led to a rapid flight from emerging-market assets.
April 14, 2020
Dallas Fed Economics
Risks abound If China uses debt to stimulate economy from current downturn
The Chinese economy is losing steam. As China considers how to work through its difficulties, its chances of success may depend on how it finances the debt it incurs while attempting to boost economic activity.
April 02, 2019
Special Report
NAFTA at 20: Effects on the North American Market
Proceedings of the 2014 conference that brought together leading academic and government researchers who explored the realities of the landmark trade agreement.
November 22, 2017
Working Paper
Unauthorized Mexican Workers in the United States: Recent Inflows and Possible Future Scenarios
This paper provides estimates of the number of newly arriving unauthorized workers from Mexico, the principal source of unauthorized immigrants to the United States, and examines how the inflow is related to U.S. and Mexico economic conditions.
January 05, 2017