For many years, fuel switching between natural gas and residual fuel oil kept natural gas prices closely aligned with those for crude oil. More recently, however, the number of U.S. facilities able to switch between natural gas and residual fuel oil has declined, and over the past five years,...

Changes in energy prices have had sizable but differing effects on economic activity across the United States. The composition of each state's economy largely determines how its employment responds to changes in energy prices. In this article, Stephen Brown and Mine Yucel use simulations based...

Soaring health care expenditures and the large number of uninsured Americans-now estimated at 35 million-have received much public attention in recent years. The widespread concerns have led to demands for substantial reform of the U.S. health care system. ; Beverly Fox, Lori Taylor, and Mine...

Considerable research finds oil price shocks have had major effects on U.S. output and inflation. Several recent studies argue that the response of monetary policy-rather than the oil price shocks themselves-caused the fluctuations in economic activity. Stephen Brown and Mine Yucel show that an...

In this study, Nathan Balke and Mine Yucel ask whether the Eleventh Federal Reserve District's Beige Book description contains timely information about economic activity within the District. They examine whether the Beige Book description tracks current Texas real gross state product (GSP)...

Low oil prices and rising oil imports have caused growing concern about U.S. vulnerability to oil-supply shocks. Mine K. Yucel and Carol Dahl devise a measure of vulnerability and use it to compare three policies that have been proposed to reduce U.S. vulnerability to oil-supply disruptions: a...