Lingering Energy Bust Depresses, Doesn’t Sink Texas State Budget Jason Saving
The recent oil price collapse has adversely affected Texas’ budget situation and slowed the growth of its rainy-day fund. While energy continues to play an important role in Texas, the state has been better economically and fiscally positioned than most other energy states.
On the Record: A Conversation with Adrián Mijares Elizondo Cinépolis Theater Chain Seeks North Texas Stardom
Adrián Mijares Elizondo is CEO of Cinépolis USA. The subsidiary of Morelia, Mexico-based Cinépolis relocated to Addison, Texas, from Los Angeles earlier this year. The parent company is Mexico’s predominant movie theater chain. It has operations in 12 other countries, with a concentration in India and now the U.S., where it has 16 theaters with 161 screens. Mijares discusses the movie business and his company’s prospects in the competitive U.S. market.
New Mexico Recovery Lags amid Energy, Government Sector Weakness Roberto Coronado and Marycruz De León
New Mexico’s unique history is reflected in the state’s demographics and economy. Tourism, energy and government have traditionally driven activity. Although government once bolstered growth, it is now a drag. While new industries have emerged and trade with Mexico has grown, economic recovery has been slow.
Texas Border Cities Illustrate Benefits and Challenges of Trade Jesus Cañas
Texas border cities, at the front line of North American Free Trade Agreement-driven economic changes, have found new paths to growth by taking advantage of trade-inspired commercial opportunities during the past two decades. Partly as a result, unemployment in the largest communities has declined.
Less Involuntary Part-Time Work Suggests Texas Economic Strength Anil Kumar and Michael Weiss
Fed policymakers have closely watched part-time workers as an indicator of labor market health. While the ranks of involuntary part-timers have remained persistently high since the Great Recession—suggesting remaining labor market slack—the pattern has been less notable in Texas.
Dallas Fed Insights: Involuntary Part-Time Employment in Texas
On the Record: A Conversation with Alan D. Viard Corporate Tax Overhaul Plan Targets Disincentives to Invest in the U.S.
Alan D. Viard is a resident scholar at the American Enterprise Institute, a nonprofit research organization, and an expert on tax policy. He outlines his plan, developed with Eric Toder of the Urban Institute, for revising the tax code to make it less attractive for U.S. companies to shelter profits abroad.
Texas Enterprise Zone Benefits for Poor Prove Elusive Wenhua Di and Daniel Millimet
The Texas Enterprise Zone Program does not appear to benefit the financial well-being of residents. An examination of the state program suggests that at best, there is a modest positive impact on the repayment of retail loans.
Mobile Payments Promise to Improve Financial Accessibility in Mexico Michael Perez
Mobile phone-based financial services and other new technologies may hold the key to converting more of Mexico’s “unbanked” residents, most of whom have traditionally operated outside the formal economy. Regulatory oversight of the new services is slowly evolving.
Risks Mount for Eleventh District Banks amid Energy Weakness Kelly Klemme and Edward C. Skelton
The business environment has become more difficult for Eleventh District banks amid weak oil prices, challenging institutions that have heightened energy sector exposure. Tepid economic growth and a downbeat forecast also point to commercial real estate lending as an emerging area of concern. Video—Dallas Fed Insights: Risks Mount for Eleventh District Banks
Dallas Fed business economist Ed Skelton discusses how weakness in the energy sector is affecting banks in the Eleventh Federal Reserve District—Texas, northern Louisiana and southern New Mexico.
On the Record: A Conversation with Annise Parker Playing to Houston’s Strengths: Internationalism, Energy, Innovation
Annise Parker’s six years as Houston’s 61st mayor concluded in January. She was previously city comptroller and served on the city council. Parker, a second-generation Houstonian, earlier spent 20 years in the energy industry. She reviews her time in public service and the challenges Texas’ largest city confronts.
Once-Robust Wage Growth Stops as Texas Economy Slows Amy Jordan and Emily Gutierrez
The energy bust has brought tougher times to Texas and other energy-producing states. The loss of high-wage jobs in energy and manufacturing has been indicative of labor market weakness and stagnating economic activity, causing some state wage measures to fall.
Houston Grinds to a Halt as Oil Industry Declines Jesse Thompson
Fears of recession have persisted in Houston since the oil boom turned to bust at the end of 2014. The price of benchmark West Texas Intermediate crude oil dropped 70 percent by the beginning of this year—a decline as large as the one in the mid-1980s that contributed to Texas’ prolonged recession.
Texas Economy Remains Resilient, but Low Oil Prices Loom as Future Risk Keith R. Phillips and Christopher Slijk
After weathering tumult in its energy and manufacturing sectors in 2015, a diversified Texas economy is poised for slow growth this year. The biggest risk to the outlook: If oil prices average below $30 per barrel, overall job losses could result.
On the Record: Texas Home Prices to Keep Rising Despite Energy Slowdown A Conversation with James Gaines
James Gaines, chief economist of the Real Estate Center at Texas A&M University, is a leading authority on housing and development issues in Texas. He discusses the supply and demand conditions that have led to rapidly rising house prices, as well as the unique role municipal utility districts (MUDs) play in single-family housing construction in Texas.