Undercapitalization and “Zombie” Lending
One of the many symptoms (or, in some views, causes) of a general slowdown of dynamism and growth in developed economies is the prevalence of lending to “zombie firms,” where [...]
Wartime Innovation and Patent Secrecy
Perhaps the best feature of the U.S. patent system is mandatory disclosure, where patent filers must disclose the innovation. While innovators tend to prefer secrecy to keep a competitive edge, [...]
Equity With and Without Safety Nets
In their chapter on financial regulation in The Captured Economy, Brink Lindsey and Steven Teles argue that the moral hazard in our financial system created through a series of formal [...]
The Right and Wrong Way to Build Affordable Housing
Yesterday we wrote about a new study on how Chicago’s 2013 and 2015 upzoning measures increased land prices, but failed to increase housing construction. While there are a variety of [...]
The Death of Distance has Been Greatly Exaggerated
Despite the ability of the internet to connect virtually anyone anywhere, physical proximity still matters a great deal for innovation. Neighbors, coworkers, or fellow happy hour patrons are instrumental in [...]
This Week in Land-Use Regulation, February 7th
Rent Check Upzoning is necessary, but not sufficient, to address the affordability crisis. The NYU Furman center's study outlines why "supply skeptics" shouldn't be concerned that growth in housing supply [...]
Upzoning Isn’t Everything
In the face of rising housing costs and the associated rents to homeowners, it’s abundantly clear that cities across the U.S. need to change course to address the housing affordability [...]
This Week in Occupational Licensing, February 6th
Rent Check Connecticut is the only state in the nation that doesn't require licensing for estheticians, eyelash technicians and nail technicians, but a new bill would introduce such a requirement. The [...]
Possibility, Probability, Prostitution, and Occupational Licensing
From slipping and falling in the bathroom to being hit by a motorist crossing the street, I faced countless risks before even stepping into the office this morning. But I [...]
This Week in Financial Regulation, February 5th
Rent Check Daniel Tarullo on the history of financial regulation from the New Deal to Dodd-Frank. Research from the Chicago Fed finds the prevalence of non-traditional mortgages (e.g. those with [...]