The FRED® Blog

Uncategorized

What’s the state of your air quality?

State-level CO2 emissions

Many data series in FRED are versatile enough to be viewed in different ways. We’ve offered two perspectives so far on CO2 emissions at the national level. Today, we offer another perspective—emissions at the state level—thanks to GeoFRED. The map above shows total emissions for each continental U.S. state. These numbers depend on the number of residents, types of economic activity, and types of fuel used. So it’s no surprise that the most populous states are the ones emitting the most carbon dioxide, with the possible exception of Louisiana.

Emissions from coal show something different. For example, the largest state, California, actually has one of the lowest coal-related emission levels. The relatively smaller states of Michigan, Missouri, and West Virginia, on the other hand, rank among the highest in coal-related emissions, which is a reflection of the fuel these states use for power generation.

Emissions from natural gas complement those from coal: That is, states with surprisingly low emissions from coal have higher emissions from natural gas (and vice versa). Louisiana has high emissions from natural gas, just as it does from petroleum, which is shown in our last map. While petroleum is used all over the country for transportation, extracting and refining it also requires a lot of petroleum, hence the higher emissions in oil-producing states.

How these maps were created:The original post referenced interactive maps from our now discontinued GeoFRED site. The revised post provides replacement maps from FRED’s new mapping tool. To create FRED maps, go to the data series page in question and look for the green “VIEW MAP” button at the top right of the graph. See this post for instructions to edit a FRED map. Only series with a green map button can be mapped.

Suggested by Christian Zimmermann.

Data fluctuations from Manic Monday to Freaky Friday

FRED tracks weekdays per month, quarter, and year

High-frequency data can include seasonal factors that affect economic activity. The timing of federal and local holidays changes each year, and weekends can fall all over the place in any given month. So not every period has the same number of business days. FRED now has data to help you sort that out.

Although it doesn’t account for holidays, the graph above shows the number of weekdays in a month. The data come from a release on domestic auto and truck production from the Board of Governors, which helps in cleaning the data of seasonal and predictable factors. The variation in weekdays is actually quite important, as it fluctuates between 20 and 23 days per month, which is a difference of over 10%.

The second graph shows the number of weekdays in a quarter, which fluctuates between 64 and 66 days, a difference of  about 3%, which is still large when you consider the typical quarterly growth rate of an economy is between 0.5% and 1%. The last graph shows the same statistic for a full year, between 260 and 262 days. Here, the difference is less than a percent, but it’s still significant.

How these graphs were created: For the first graph, search for “weekday” and the series we use here should be at the top of the list. Do the same for the second and third graphs, but use the “Edit Graph” panel to change (1) the frequency to quarterly and annual, respectively, and (2) the aggregation method to “Sum.”

Suggested by Christian Zimmermann.

View on FRED, series used in this post: G17MVSFWWKDAYS

Central banking since 1701

Three centuries of Bank of England asset data

The British have a history of recording excellent historical data, and we’ve already written a few related posts. Today we look at central bank assets for the Bank of England, founded in 1694. The graph above shows the assets as a share of GDP since 1701, which is a remarkable timeline, especially because it requires estimates of GDP from before the American Revolutionary War not to mention the Battle of Culloden!

This FRED graph shows us that assets in the 18th century reached a fifth of GDP before slowly receding. There were run-ups during the turmoil of the Great Depression, World War II, and the Great Recession and its financial crisis. For comparison, we added the (much shorter) corresponding series for the United States in red. It’s pretty amazing how well they match up.

How this graph was created” Search for “Bank of England assets,” select the appropriate series, and click “Add to Graph.” From the “Edit Graph” panel, open the “Add line” tab, and search for “federal reserve assets.” Once you have the series, change its frequency to quarterly, add a series looking for “nominal GDP,” and apply formula a/b/10. (We multiply by 100 to get percent but divide by 1000 to have the same units for a and b: thus, /10.)

Suggested by Christian Zimmermann.

View on FRED, series used in this post: BOEBSTAUKA, GDP, WALCL


Back to Top