The Dallas Fed studies economic conditions in the Eleventh Federal Reserve District to help inform the Fed’s monetary policy decisions at the national level. We share what we learn for public use.
Our resources include data, research and analysis for the entire district and for individual states, regions, metros and sectors.
Read a summary of anecdotal information on current economic conditions in the district. This regular Federal Reserve report is published eight times a year.
Dive into our survey reports to explore real-world insights from business leaders across the region. We gather their input to inform economic analysis and monetary policymaking.
Gain insights on local communities and how they’re working to build a strong economy in our region. Dallas Fed President Lorie Logan conducts an ongoing listening tour in the district and shares highlights from her tour stops.
Ray Perryman, principal of Waco-based The Perryman Group, has been an observer of the Texas economy for more than four decades. He offers his views of what has propelled Texas since the 1980s oil bust and the state’s future prospects, and he recounts how he grew his economics firm.
Mexico, U.S. and China offer an evolving ‘triangular’ trade relationship
Enrique Dussel Peters, a professor at the Graduate School of Economics at the Universidad Nacional Autonóma de México and coordinator of the university’s Center for Chinese–Mexican Studies, discusses trade flows between the U.S., Mexico and China and their prospects.
Eleventh District community banks outperform peers despite weaker credit quality
Eleventh District community banks will likely continue to outperform their nationwide peers in terms of profitability, given their larger share of noninterest-bearing deposits.
Electric reliability concerns spur Texas backup generation boom
Amid growing concerns about reliability of electricity services across power-hungry Texas, deployment of back-up power sources—microgrids and alternative generation—is increasing. These assets, serving customers ranging from college campuses to oilfield operations, help keep the lights on when disaster strikes.
While New Mexico continues to navigate economic and demographic challenges, increased revenues from oil and gas production provide opportunities to invest in education, infrastructure and other improvements to boost long-term growth.
The Impact of the 2022 Oil Embargo and Price Cap on Russian Oil Prices
This paper documents the effect of the oil embargo and price cap on Russian oil exports in the wake of the Russian invasion of Ukraine in February 2022.
The Returns to Government R&D: Evidence from U.S. Appropriations Shocks
Based on a narrative classification of all significant postwar changes in R&D appropriations for five major federal agencies, this paper finds that an increase in nondefense R&D appropriations leads to increases in various measures of innovative activity and higher business-sector productivity in the long run.
Investing in the Batteries and Vehicles of the Future: A View Through the Stock Market
A large number of companies operating in the EV and battery supply chain have listed on a U.S. stock exchange in recent years. This paper compiles a unique data set of high-frequency stock returns for those companies and investigates the extent to which an “industry” factor specific to the EV and battery supply chain (an “EV” factor) can explain their returns.
This paper examines the ability of the state-of-the-art VAR approach in Kurmann and Sims (2021) to identify responses to TFP news shocks and possibly surprise shocks in theory and practice.
A Narrative Analysis of Federal Appropriations for Research and Development
This paper provides a narrative analysis of postwar federal appropriations for the research and development (R&D) activities of the Department of Defense, Department of Energy, National Aeronautics and Space Administration, National Institutes of Health and National Science Foundation—five agencies that consistently account for the vast majority of federal outlays for all types of R&D.
Deposit Convexity, Monetary Policy and Financial Stability
Banks and researchers conventionally model the response of deposit interest rates to market interest rates as constant, implying that deposits have nearly constant duration. Contrary to this standard assumption, this paper shows empirically that the “beta” of deposit rates to market rates increases as market rates rise, causing the duration of deposits to fall.
Married men work substantially more hours than men who have never been married, even after controlling for observables. Panel data reveal that much of this gap is attributable to an increase in work in the years leading up to marriage.
Despite growing interest in the impact of oil and other energy price shocks on inflation and inflation expectations, until recently this question has not received much attention. This survey not only presents empirical results for the U.S. economy, but expands the analysis to include other major economies.
