Macro Bulletin Craig S. Hakkio and Jun Nie predict the real energy trade deficit will decline at a much slower pace in 2015 than in the past few years.
Capturing Rents from Natural Resource Abundance: Private Royalties from U.S. Onshore Oil & Gas Production
RESEARCH WORKING PAPERIn 2014 the six major shale plays produced more than $213 billion in oil and gas generating $39 billion in royalties, while local ownership of royalties averaged 12 to 55 percent across the major plays.
RESEARCH WORKING PAPERTo help private-sector faster payments systems achieve public policy goals of ubiquity, safety, and efficiency, the Federal Reserve could influence governance of the private-sector systems through its leadership role.
Macro BulletinJordan Rappaport analyzes the forces driving the recent rebound in multifamily construction. The article is summarized in The Macro Bulletin.
By José Mustre-del-Río and William Xu
Macro Bulletin Mustre-del-Río and Xu compare two measures of voluntary turnover and find job quitters have recently become more optimistic about their employment opportunities.
Jonathan L. Willis and Guangye Cao investigate shifts in the economy’s sensitivity to interest rates by examining how total employment responds to changes in monetary policy. The article is summarized in The Macro Bulletin.
Jason Brown examines how the recent period of declining oil prices has affected employment in oil- and gas-producing states.
Jordan Rappaport analyzes the forces driving the recent rebound in multifamily construction. The article is summarized in The Macro Bulletin.