Many analysts believe that the emissions of greenhouse gases resulting from human activity are contributing to global warming, but the linkage is highly uncertain. The largest such source of these gases is carbon dioxide (CO2) from the growing consumption of fossil fuels. Consequently, the...

Gasoline is the petroleum product whose price is most visible and, therefore, always under public scrutiny. Many claim there is an asymmetric relationship between gasoline and oil prices - specifically, gasoline price changes follow oil price changes more quickly when oil prices are rising than...

Many consumers complain that gasoline and crude oil prices have an asymmetric relationship in which gasoline prices raise more quickly when crude oil prices are rising than they fall when crude oil prices are falling. Many also regard the asymmetry they observe as evidence of market power in the...

Recent economic literature concludes that an invention-importing country, where domestic invention is scarce or nonexistent, may reduce its welfare and, in some cases, world welfare, by protecting intellectual property developed elsewhere. The analysis presented in this article uses economic...

In this article, Keith R. Phillips revises the Texas index of leading economic indicators that he introduced two years ago. He does so in response to recent structural changes in the state economy and the availability of new data. The Federal Reserve Bank of Dallas has produced the Texas leading...

Throughout much of the 1980s, wage inequality increased in the United States. Previous research has found that a rise in earnings by educational level and increased wage dispersion across occupations were important factors in the rise in wage inequality. Researchers, however, have noted that...

In Texas during the 1980s, service-sector employment rose, goods-sector employment declined, and the average real wage increased only slightly. Because service-sector jobs pay lower average wages than goods-sector jobs, analysts have suggested that the growing proportion of jobs in the service...