Federal Reserve Bank of Dallas

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The Adverse Feedback Loop and the Effects of Risk in Both the Real and Financial Sectors—Recessions that are accompanied by financial crises tend to be more severe and are followed by slower recoveries than ordinary recessions. This paper introduces a new Keynesian model with financial frictions on both the demand and supply side of the credit markets that can explain this empirical finding.
Globalization and Inflation in Europe—This paper seeks to understand whether labor-intensive exports from emerging Europe, Asia, and other global regions have a uniform impact on producer prices in Germany, France, Italy, Sweden, and the United Kingdom..

"Fully aware of the important role that the dollar plays in the international monetary and financial system, the Committee believes that the best way to continue to deliver the strong economic fundamentals that underpin the value of the dollar, as well as to support the global recovery, is through policies that lead to a resumption of robust growth in a context of price stability in the United States."

In "Yield Spreads as Predictors of Economic Activity: A Real-Time VAR Analysis," the authors undertake a real-time VAR analysis of the usefulness of the term spread, the junk-bond spread, the ISM's New Orders Index, and broker/dealer equity for predicting growth in nonfarm employment.

The Globalization of Ideas—The U.S., Japan and Germany have historically been the global locus of ideas, but the landscape is changing. Idea production has taken off in the developing BRIC economies (Brazil, Russia, India and China) and exports and imports of ideas have grown substantially.

This forum will bring together experts to discuss closing the gaps in minority participation, research and achievement; improving access to higher education and graduation rates; finding new ways to pay for education and understanding factors that affect the value of higher education.

Evening at the Fed: Dinner and Discussion for High School Teachers

This year's Evening at the Fed, for high-school teachers in San Antonio, El Paso, Dallas and Houston, will trace the history of bank regulation in the U.S., how it has been shaped by financial turmoil and the possible consequences of the regulatory structures that have evolved.

Texas Twist: Why Did State's Unemployment Fall Below Nation's?
Observations on the U.S. Economy: Need the Fed Do More?

Sizing Up Nanotechnology:The Economic Impact of Nanoelectronics

Federal Reserve Bank of Dallas, 2200 N. Pearl St., Dallas, Texas 75201