Federal deficit, tax inequities, entitlement programs vie for lawmakers’ attention
Alan D. Viard, senior fellow emeritus at the American Enterprise Institute and former senior economist at the Federal Reserve Bank of Dallas, discusses federal entitlements and tax policy challenges during an era of rising deficits.
April 15, 2024
Globalization Institute Working Paper
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, 2024
Research Department Working Papers
Did the Tax Cuts and Jobs Act Create Jobs and Stimulate Growth?
The Tax Cuts and Jobs Act of 2017 is the most extensive overhaul of the U.S. income tax code since the Tax Reform Act of 1986.
August 08, 2023
Research Department Working Papers
State-Dependent Local Projections
Do state-dependent local projections asymptotically recover the population responses of macroeconomic aggregates to structural shocks? The answer to this question depends on how the state of the economy is determined and on the magnitude of the shocks.
April 19, 2023
Research Department Working Papers
Labor Market Effects of Credit Constraints: Evidence from a Natural Experiment
This paper exploits the 1997 and 2003 constitutional amendments in Texas—allowing home equity loans and lines of credit for non-housing purposes—as natural experiments to estimate the effect of easier credit access on the labor market.
February 03, 2023
Federal Reserve Banks of Atlanta and Dallas conference explored housing, urban economics
Residential real estate prices rose sharply throughout the United States following the onset of COVID-19 in early 2020. While property owners received a capital gains windfall, first-time buyers and renters have struggled with reduced affordability.
January 25, 2022
Southwest Economy, Third Quarter 2021
Federal support keeps state budgets (iIncluding Texas’) healthy amid tumult from COVID-19-induced economic ills
An unprecedented federal fiscal response to the COVID-19-induced recession in early 2020 helped prop up state government finances even among states whose tax and finance structures put them at particular risk during a downturn.
September 30, 2021
Global Perspectives: Ursula Burns on coaching, diversity and advancing the next generation of female leaders
Burns and Dallas Fed President Rob Kaplan discussed her career, the importance of coaches and mentors, the case for quotas and advice for the next generation of female leaders.
July 27, 2021
Global Perspectives: Betsy Price on being Fort Worth mayor, governing and bipartisanship
Price and Dallas Fed President Rob Kaplan discussed her political career, the challenges she faced in office and the need for bipartisanship to get government business done.
July 20, 2021
Southwest Economy, First Quarter 2021
Value-added tax could restrain long-term federal debt
Alan D. Viard, a resident scholar at the American Enterprise Institute and former senior economist at the Federal Reserve Bank of Dallas, discusses how to address the U.S. budget deficit in the aftermath of the COVID-19 pandemic.
April 09, 2021