Institution
Federal Reserve Bank of Dallas
Other•Dallas, Texas, United States•
About: Federal Reserve Bank of Dallas is a other organization based out in Dallas, Texas, United States. It is known for research contribution in the topics: Monetary policy & Inflation. The organization has 196 authors who have published 994 publications receiving 35508 citations.
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TL;DR: The authors examined the dynamic effects of credit shocks using a large data set of U.S. economic and financial indicators in a structural factor model and identified credit shocks, interpreted as unexpected deteriorations of credit market conditions, immediately increase credit spreads, decrease rates on Treasury securities, and cause large and persistent downturns in the activity of many economic sectors.
Abstract: We examine the dynamic effects of credit shocks using a large data set of U.S. economic and financial indicators in a structural factor model. The identified credit shocks, interpreted as unexpected deteriorations of credit market conditions, immediately increase credit spreads, decrease rates on Treasury securities, and cause large and persistent downturns in the activity of many economic sectors. Such shocks are found to have important effects on real activity measures, aggregate prices, leading indicators, and credit spreads. Our identification procedure does not require any timing restrictions between the financial and macroeconomic factors and yields interpretable estimated factors.
13 citations
TL;DR: The authors developed a theoretical model that relates the degree of goods-market competition with the extent of profit sharing and showed that increased competition in goods markets leads to an increased weighting on firm profits in an optimally indexed contract.
13 citations
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TL;DR: This paper found that the robust growth of the U.S. economy between 1996 and 1999 spurred demand for foreign goods and contributed to a surge in the trade deficit, and that the economic boom can account for roughly a third of the sharp rise in the merchandise trade deficit during this period.
Abstract: The robust growth of the U.S. economy between 1996 and 1999 spurred U.S. demand for foreign goods and contributed to a surge in the U.S. trade deficit. An analysis of the effects of the expansion on the trade balance suggests that the economic boom can account for roughly a third of the sharp rise in the merchandise trade deficit during this period.
13 citations
TL;DR: In this paper, the authors examine the dynamic process behind protection, retaliation and trade wars, and show that depending on the characteristics of the markets in the two countries, retaliation may encourage liberalization or may cause a trade war.
13 citations
TL;DR: This article examined the long-run relationship between US and Mexican prices using panel cointegration techniques that allow for heterogeneous relationships across goods to examine the existence of weak-form and strong-form purchasing power parity (PPP) between the US and Mexico.
13 citations
Authors
Showing all 202 results
| Name | H-index | Papers | Citations |
|---|---|---|---|
| Lutz Kilian | 81 | 251 | 39552 |
| Peter Egger | 72 | 457 | 17654 |
| Francis E. Warnock | 41 | 125 | 8657 |
| Rebel A. Cole | 41 | 149 | 9092 |
| Finn E. Kydland | 38 | 123 | 21288 |
| Daniel L. Millimet | 38 | 159 | 5196 |
| Joseph Tracy | 35 | 90 | 4286 |
| Marc P. Giannoni | 33 | 85 | 5131 |
| Ping Wang | 33 | 241 | 4263 |
| W. Scott Frame | 32 | 85 | 4616 |
| Kei-Mu Yi | 30 | 81 | 7481 |
| John V. Duca | 29 | 145 | 3535 |
| Stephen P. A. Brown | 28 | 118 | 3455 |
| Kathy J. Hayes | 27 | 85 | 3075 |
| Alexander Chudik | 26 | 103 | 3907 |