Dallas Fed

President Turner outlines SMU’s new direction in research at Dallas Fed

SMU Economic Impact ReportSMU President R. Gerald Turner had a clear message for a group of business and civic leaders gathered at the Federal Reserve Bank of Dallas: The return on investment in SMU made by Dallas leaders more than 100 years ago continues to be strong.

In a Monday, Nov. 13, 2017 update on SMU’s economic impact, Turner outlined the growth in reputation for all seven of the University’s degree-granting schools, including the creation of more than a dozen centers and institutes addressing issues like education, criminal justice reform and international business. Most notably, he said, SMU is transforming into a new era of teaching and research fueled by a powerful digital infrastructure.

The University now offers 13 graduate programs in data science and is powered by ManeFrame II, among the top 20 supercomputers in North American higher education. In addition, SMU partners with organizations such as the Federal Reserve Bank of Dallas, AT&T, Raytheon, Big Thought, Harvard and MIT.

President Turner also emphasized that SMU’s high-speed supercomputer is accessible with no waiting to students, faculty and research partners outside SMU – and that a University that can complete data analysis in any discipline faster, without long wait times for access, has an advantage.

The five-year investment of $85 million in high speed computing, data science curriculum and planned Gerald J. Ford Research Center has an additional strategic purpose: It can deliver more bang for the research buck than a comparable investment in additional wet labs for handling chemicals and biological matter. The University aims to generate $100 million a year in research, Turner said, and the infusion of data science into research across disciplines – combined with important work accomplished in University wet labs – will help SMU get there.

— Written by Kim Cobb

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> Visit the website: smu.edu/datapowered

Dallas Fed, SMU and consortium to establish new Federal Statistical Research Data Center

Federal Reserve Bank of Dallas, Dallas FedSMU is part of a consortium of institutions, led by the Federal Reserve Bank of Dallas and the University of Texas-Dallas, who will partner with the U.S. Census Bureau to establish the Dallas-Fort Worth Federal Statistical Research Data Center.

The new center is the result of an extensive grant application process involving contributions from each consortium member and a review by the National Science Foundation and the U.S. Census Bureau. One of several planned Federal Statistical Research Data Center locations across the country, the center will be housed at the Dallas Fed and will provide approved researchers with secure access to restricted micro-level data.

“The establishment of this center is the culmination of two years’ worth of effort on the part of the Bank and consortium to bring this important new research facility to North Texas,” said Dallas Fed President Rob Kaplan. “Our role in this project aligns well with the Bank’s strategic priorities of serving as a thought leader in policy-related research and being a leading citizen in the communities we serve.”

The center will advance scientific knowledge, improve data quality and inform policy in fields spanning the social, behavioral and economic sciences and the health professions, and extending to urban planning, and engineering. The cutting-edge research opportunities afforded by the center will raise the profile of participating institutions and assist in attracting and retaining top research talent to the region.

“This is a very positive demonstration of how the major universities and institutions in the DFW area, along with West Texas, can work together to both increase quality research as well as strengthen the ties between consortium members,” said Kurt Beron, professor of economics at UT-Dallas, who played a leading role in the grant application process and will help coordinate the consortium.

In addition to the Dallas Fed, UT-Dallas and SMU, the consortium includes UT-Arlington, UT-Southwestern Medical Center, Texas Tech University, University of North Texas, Texas Christian University and the Dallas-Fort Worth Hospital Council Foundation.

The DFW center is expected to open in early 2018. Wenhua Di, senior research economist at the Dallas Fed, will serve as executive director of the center.

> Read the full story at the SMU Research blog

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