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The Impacts of Unauthorized Immigration on U.S. Labor and Housing Markets: New Evidence from Administrative Microdata
From early 2021 to early 2024, the U.S. experienced an unprecedented boom in unauthorized immigration, followed by a rapid slowdown beginning in mid-2024. This paper provides the first systematic empirical assessment of the labor- and housing-market effec
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U.S. battery industry cuts losses, shifts to new ventures amid EV bust
With demand for electric vehicles failing to meet ambitious projections, automakers, battery companies and utilities are reassessing how best to deploy battery power.
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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
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Advances in AI will boost productivity, living standards over time
Artificial intelligence offers the potential to improve people's living standards. Such advances can be approximated by changes in GDP per capita over time. Using that common measure, AI could enhance longstanding productivity gains or, alternatively, dra
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Growth moderates in the Texas manufacturing sector
Texas factory activity continued to expand in September, albeit at a slower pace, according to business executives responding to the Texas Manufacturing Outlook Survey.
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Complementary Currencies and Liquidity: The Case of Coca-Base Money
In coca-growing villages of Colombia, where pesos are scarce, coca-base is not only used as the main input for cocaine production-it also acts as a complementary currency (CC), circulating locally as a medium of exchange for day-to-day transactions. This
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Mexico seeks to solidify rank as top U.S. trade partner, push further past China
Mexico's emergence followed fractious U.S. relations with China, which had moved past Canada to claim the top trading spot in 2014. The dynamic changed in 2018 when the U.S. imposed tariffs on China's goods and with subsequent pandemic-era supply-chain di
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Automakers' bold plans for electric vehicles spur U.S. battery boom
Meeting ambitious manufacturing goals will require batteries-lots of them-as an electric vehicle (EV) can use hundreds to thousands of individual lithium-ion batteries.
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Don't look to oil companies to lower high retail gasoline prices
While U.S. retail gasoline prices in many regions have remained stubbornly high since March, this situation reflects frictions in the retail gasoline market rather than the supply of oil or the price of oil.
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Real-time market monitoring finds signs of brewing U.S. housing bubble
There is growing cause for concern that U.S. house prices are again becoming unhinged from fundamentals.
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