This paper analyzes stock index reactions to interest rate actions by the FOMC. Unlike previous analyses this study utilizes macro-economic indicators and accounts for pre-decision market expectations. Results indicate significant reaction of the stock market to the actions of the FOMC regardless of interest rate actions matching pre-decision market expectations. Binary dummy variables representing the five days following an FOMC meeting indicate a significant reaction for days one; two and three of the Dow Jones model and for day five of the NASDAQ model. The magnitude of the coefficients are 0.17%, 0.09%, -0.07% and -.15% respectively. These findings may be sensitive to a priori choices regarding the definition of the market expectation variable.

Policy makers and households are concerned about the impact of rising energy prices on low-income households. In a trend starting in the 1970s, low-income households are spending an increasingly disproportionate share of their income on home energy. The burden on a household imposed by energy prices can be analyzed through four factors: energy price, energy consumption, income level, and level of assistance provided to help with the costs of energy. The combination of these factors indicates that the energy burden is continuing to be disproportionately large for the nation's poor. Therefore, policy makers make further efforts to alleviate this burden by modifying energy pricing regulation.

Regional population growth and increasing trade with Mexico are creating severe traffic congestion along Interstate 35 and at the Laredo bridge crossings. The construction of a new Interstate Highway 69 has been offered as one solution to this problem. This analysis examines the economic impacts of building Interstate 69 and its potential impact on job creation in the counties along its projected path. Using the IMPLAN input-output modeling system, construction of Interstate 69 will support $4.2 billion in economic activity in the counties through which it will pass. More importantly, based on an analysis of Interstate 27 in west Texas, it can be projected that Interstate 69 will spur a 2% gain in regional employment above any usual economic growth.

This paper presents the results of a study dealing with a number of issues regarding real estate investment. Utilizing a data set consisting of real estate transactions, questions relative to the impact of certain variables on the sale price are addressed. This analysis addresses the question of the impact of financial, physical, and location characteristics on the sales price of commercial grade real estate.

This study describes the role of rural women and their importance in the success of microfarm projects. Microfarm cultivators can increase their income levels through trade of agricultural products. By adopting self-sustaining methods, the cultivator saves money and does not need to rely as much on goods and services from outside resources to increase food production efficiencies in microfarms. This goal can be reached in part through careful planning and construction of the microfarm facility. In addition, in developing phases of the microfarm, the external resources may possibly be a mechanism to increase expansion and knowledge. Microfarms are an important option for the third world countries and poor people worldwide.

This report analyzes the economic impacts of the Baylor Regional Medical Center at Grapevine, Texas. The economic impacts are analyzed using the IMPLAN impact modeling system developed by the Minnesota IMPLAN Group. The analysis evaluates construction activities by Baylor-Grapevine as well as procurement spending and employment. Additionally, the impact of ancillary facilities surrounding Baylor-Grapevine and the impact of patient visitor spending is also reviewed. Total recurring impacts of procurement spending at Baylor-Grapevine, employment at Baylor-Grapevine and its ancillary facilities, and visitor spending will generate over $227 million in economic activity for the Dallas/Fort Worth Metroplex. This activity will support more than 3,300 direct, indirect, and induced jobs paying over $138 million in annual earnings.

This paper is addressed to the inner city and some suburban congregations seeking to express their faith through practical initiatives to revitalize their distressed communities. The paper seeks to inspire and instruct the reader with motivational stories containing illustrations of the valuable role that African-American congregations have played in stimulating economic development in their communities. The paper also shows the importance of African-Americans having some control over the flow of economic funds throughout the community. African-American churches in the inner city should undertake significant ventures in community economic development to minister to the temporal as well as the spiritual needs of their communities. This paper will demonstrate how the African-American church, with assistance from federal, state, local programs, and private concerns, can be effective in the urban revitalization.

This research shows that the Japanese rice policy has affected the volume of exported and imported rice; moreover, multilateral and bilateral agreements have also affected Japanese rice policy. Japan's institution of subsidies and trade barriers has made its rice products too expensive for foreign trade and its domestic consumers. Since the WTO agreement has forced Japan to open its market gradually over six years, Japan may be unable to compete internationally because of its limited land, high labor costs, and the field utility fees.