About BigTex
As economic research becomes more data-intensive and models more complex, computing power becomes more important. BigTex, provided by the Federal Reserve Bank of Dallas, is the largest high-performance computing (HPC) environment in the Federal Reserve System. It is used by Federal Reserve economists and their co-authors to study the big problems that are only possible with vast computing resources.
This research will benefit Federal Reserve economists, as well as researchers in academia and industry. Recent examples include research on the nonlinear effects of the business cycle and monetary policy, algorithms that allow a researcher to update estimators with new data, and designing the best possible unemployment insurance payments during recessions and expansions. Check out the list of articles published as a result of using BigTex to learn more.
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For more information about the area or to request access, please email [email protected]
Research
BigTex has opened the door to groundbreaking economic research. The following is a list of working papers and publications in peer-reviewed academic journals that were supported in part by the computing resources provided by BigTex’s high-performance computing environment.
“Shock-Dependent Exchange Rate Pass-Through: Evidence Based on a Narrative Sign Approach for Japan,” An, L., MA Wynne, and R. Zhang, Journal of International Money and Finance, vol. 118, 2021, pp. 457-476. https://doi.org/10.1016/j.jeconom.2021.05.010. “Job Applications and Labor Market Flows”, S Birinci, K See and SL Wee, Federal Reserve Bank of St Louis Working Paper 2020-023, 2023. https://doi.org/10.20955/wp.2020.023. “How To Go Viral: A COVID-19 Model with Endogenously Time-Varying Parameters,” P Ho, TA Lubik, and C Matthes, Journal of Econometrics, vol. 232, 2023, pp. 70-86. https://doi.org/10.1016/j.jeconom.2021.01.001. “Macroeconomic Forecasting and Variable Ordering in Multivariate Stochastic Volatility Models”, JE Arias, JF Rubio-Ramirez and M Shin, Journal Econometrics, forthcoming. https://doi.org/10.1016/j.jeconom.2022.04.013. Labor Market Responses to Unemployment Insurance: The Role of Heterogeneity, S Birinci and K See, American Economic Journal: Macroeconomics, Federal Reserve Bank of St Louis Working Paper 2019-022, forthcoming. https://doi.org/10.20955/wp.2019.022. “Global Robust Bayesian Analysis in Large Models”, P. Ho, Journal of Econometrics, forthcoming. https://doi.org/10.1016/j.jeconom.2022.06.004. The Distributional Effects of COVID-19 and Optimal Mitigation Policies, S Hur, International Economic Review, forthcoming. https://doi.org/10.24149/gwp400r4. “Optimal Bailouts in Banking and Sovereign Crises,” S Hur, C Sosa-Padilla, and Z Yom, NBER Working Paper 28412, 2022. https://doi.org/10.3386/w28412. The Impact of Racial Segregation on College Attainment in Spatial Equilibrium, Gregory V, Kozlowski J, Rubinton H, Federal Reserve Bank of St Louis Working Paper 2022-036A, 2022. https://doi.org/10.20955 /wp.2022.036. “Liquidity and Investment in General Equilibrium”, N Caramp, J Kozlowski, and K Teeple, Federal Reserve Bank of St Louis Working Paper 2022-022B, 2022. https://doi.org/10.20955/wp.2022.022. “Credit and Liquidity Policies During Large Crises”, M Ebsim, MF E Castro and J Kozlowski, Federal Reserve Bank of St Louis Working Paper 2020-035, 2022. https://doi.org/10.20955/wp. 2020.035 . “Beliefs, Aggregate Risk, and the US Housing Boom,” MM Jacobson, Finance and Economics Discussion Series Working Paper 2022-061, 2022. https://doi.org/10.17016/FEDS.2022.061. Approximating Grouped Fixed Effects Estimation via Fuzzy Clustering Regression, Lewis D, Melcangi D, Pilossoph L, and Toner-Rodgers A, Federal Reserve Bank of New York Staff Reports 1033, 2022. Labor Market Shocks and Monetary Policy, ” S Birinci, F Karahan, Y Mercan, and K See, Federal Reserve Bank of St Louis Working Paper 2022-016A, 2022. https://doi.org/10.20955/wp.2022.016. “Valuational risk reassessed,” O. De Groot, AW Richter, and NA Throckmorton, Quantitative Economics, vol. 13, 2022, pp. 723-759. https://doi.org/10.3982/QE1779. “Complementarity and macroeconomic uncertainty,” T. Atkinson, M. Plante, A. Richter, and N. Throckmorton, Review of Economic Dynamics, vol. 44, 2022, pp. 225-243. https://doi.org/10.1016/j.red.2021.03.003. “An Extended Anderson-Hsiao Estimator for Dynamic Short-T Panels”, A. Chudik and M. H. Pesaran, Econometric Reviews, vol. 41, 2022, pp. 416-447. https://doi.org/10.1080/07474938.2021.1971388. “Bigger transfers financed with more progressive taxes? On the Optimal Design of Taxes and Transfers”, A Ferriere, P Grubener, G Navarro and O Vardishvili, CEPR Discussion Paper 16781, 2021. “Shock-Dependent Exchange Rate Pass-Through: Evidence Based on a Narrative Sign Approach for Japan”, L. An, MA Wynne and R. Zhang, Journal of International Money and Finance, vol. 118, 2021. https://doi.org/10.1016/j.jimonfin.2021.102462. “A Simple Explanation of Countercyclical Uncertainty,” J. Bernstein, M. Plante, A. Richter, and N. Throckmorton, Federal Reserve Bank of Dallas Working Paper no. 2109, 2021. https://doi.org/10.24149/wp2109. “Cyclical Net Entry and Exit”, J. Bernstein, AW Richter and NA Throckmorton, European Economic Review, vol. 136, 2021. https://doi.org/10.1016/j.euroecorev.2021.103752. “Pooled Bewley Estimator of Long-Run Relationships in Dynamic Heterogenous Panels,” A. Chudik, MH Pesaran, and RP Smith, Federal Reserve Bank of Dallas Globalization Institute Working Paper no. 409, 2021. https://doi.org/10.24149/gwp409. “Variable Selection and Forecasting in High Dimensional Linear Regressions with Structural Breaks,” A Chudik, MH Pesaran, and M Sharifvaghefi, Federal Reserve Bank of Dallas Globalization Institute Working Paper no. 394, 2021. https://doi.org/10.24149/gwp394r1. “The Zero Lower Bound and Estimation Accuracy,” T. Atkinson, AW Richter, and NA Throckmorton, Journal of Monetary Economics, vol. 115, 2020, pp. 249-264. https://doi.org/10.1016/j.jmoneco.2019.06.007. “Online estimation of DSGE models”, M Cai, M Del, E Herbst, E Matlin, R Sarfati, and F Schorfheide, Econometrics Journal, vol. 24, 2020, pp. 33-58. https://doi.org/10.1093/ectj/utaa029. “The heterogeneous impact of global and national business cycles on US state and metropolitan employment,” A. Chudik, J. Koech, and M. Wynne, Oxford Bulletin of Economics and Statistics, vol. 83, 2020, pp. 495–517. https://doi.org/10.1111/obes.12402.
