Presentation to the AAIM Management Association, St. Louis, Mo. May 11, 2005

The Texas border community has historically been the state's most disadvantaged area. However, the last decade has seen dramatic improvements in unemployment and other economic factors. This series of nine articles explores issues important to the region's economy—from job growth, wages and...

We analyze how bankruptcy laws affect the general equilibrium interactions between credit and wages. Soft laws reduce the frequency of liquidations and thus ex post inefficiencies, but they worsen credit rationing ex ante. This hinders firm creation and thus depresses labor demand. Rich agents...

In 1987, Texas exported $25 billion worth of merchandise to foreign countries. Twenty-six percent, or $6.5 billion, of those exports went south to Mexico. By 1994, Texas merchandise exports to Mexico had grown to more than $18.5 billion per year (in 1987 constant dollars). Texas merchandise...