Dallas Fed Economics
High inflation disproportionately hurts low-income households
Household survey results do not support Nobel laureate economist Paul Krugman's recent suggestion that low-income families “have actually been hurt less by inflation than families with higher incomes.”
January 10, 2023
Dallas Fed Economics
Decentralized finance proposed as alternative to traditional financial services
DeFi applications allow users to directly interact with each other to borrow, lend, insure and exchange digital assets without centralized intermediaries, such as banks and custodial exchanges.
January 03, 2023
Forecasting Inflation in Open Economies: What Can a NOEM Model Do?
This paper evaluates the forecasting ability when inflation is viewed as an inherently global phenomenon through the lens of the workhorse New Open Economy Macro (NOEM) model.
December 20, 2022
Dallas Fed Economics
Blockchain technology aims to expand role of digital transactions on internet
While the resources devoted to blockchain technology development have increased dramatically the past few years, the technology’s ultimate success depends on whether blockchain protocols can interact with the current economic landscape and how that occurs.
December 20, 2022
A Theory of Gross and Net Capital Flows over the Global Financial Cycle
This paper develops a theory to account for changes in prices of risky and safe assets and gross and net capital flows over the global financial cycle.
December 19, 2022
Working Paper
Commodity Exports, Financial Frictions and International Spillovers
This paper offers a solution to the international co-movement puzzle found in open-economy macroeconomic models.
December 16, 2022
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).
November 05, 2022
Supply chains slowly mend as Texas firms view recovery in 2023
Since the
COVID-19 pandemic
began in early 2020,
disrupted global supply
chains have strained
Texas businesses trying
to meet strong demand.
October 03, 2022
Globalization remains a force despite pandemic, political strains
Pol Antràs, the Robert G. Ory Professor of Economics at Harvard University, discusses international trade flows and what the evidence suggests about the world economy and the accompanying debate about whether an era of deglobalization may be at hand.
October 03, 2022
Consumption and Hours in the United States and Europe
This paper documents large differences between the United States and Europe in allocations of expenditures and time for both market and home activities.
September 08, 2022