Working Paper
Human Capital Accumulation Across Space
This paper studies how human capital shapes the economic geography of development. The authors propose a model in which human capital acquisition costs vary across space, and regions with higher human capital invest more in human-capital-augmenting technology.
September 23, 2026
Dallas Fed Economics
AI plays a role in weak labor market for college graduates
Evidence suggests that generative AI (GenAI) has reduced demand for positions in which the new technology can more efficiently complete tasks than humans.
September 22, 2026
Dallas Fed Communities
Can the U.S. power industry keep pace with rapid growth in AI?
As the U.S. tech industry builds multiple giga-scale data centers across the country to support growing use of artificial intelligence (AI), demand for reliable and affordable power has surged to a rate not seen in decades. Tech hyperscalers plan to invest hundreds of billions of dollars in US infrastructure over the next two years.
September 18, 2026
Working Paper
The Effects of U.S. Public R&D on Global Growth
This paper provides the first causal estimates of the global social returns to U.S. public R&D.
August 04, 2026
Dallas Fed Economics
Tokenized deposits use blockchain structure in traditional banking framework
Commercial banks have begun exploring adoption of tokenized deposits, traditional deposits that rely on blockchain technology and allow payments to settle almost instantaneously.
July 14, 2026
Speeches and essays
Discussion of 'An Efficient Liquidity Savings Mechanism' by Darrell Duffie, Srisht Fateh Singh and Chaojun Wang
Remarks delivered by Sam Schulhofer-Wohl at The Future of Market Liquidity and Functioning Workshop.
July 09, 2026
Dallas Fed Economics
International comparisons show AI effect on productivity
Because AI use varies across countries, we can draw on international data to investigate the relationship between AI exposure and productivity growth at the sector level. The positive relationship in the U.S. fits a pattern visible among countries and appears related to high AI use.
July 07, 2026
Economic Surveys
Special Questions
The Dallas Fed asked a series of special questions on artificial intelligence in the May Texas Business Outlook Surveys.
May 26, 2026
Dallas Fed Economics
AI is simultaneously aiding and replacing workers, wage data suggest
Artificial intelligence’s impact on the labor market will depend on whether the technology automates or augments worker tasks.
February 24, 2026
Working Paper
Investing in the Shadows: FinTech Growth and Mortgage Market Dynamics
The adoption of new technologies is widely viewed as a key driver of the rapid growth of nonbanks in the U.S. mortgage market after the Global Financial Crisis (GFC). This paper studies technology investment by mortgage lenders and its implications for post-GFC market structure.
February 23, 2026