This article argues that urban spatial expansion results mainly from three powerful forces: a growing population, rising incomes, and falling commuting costs. Urban growth occurring purely in response to these [...]
This paper evaluates the relationship between urban productivity and density using data on metropolitan areas. This is an alternative measure of the urban economy to the one employed by Ciccone [...]
The 1934 Securities and Exchange Act and subsequent amendments required securities exchanges to operate as self-regulatory organizations (SROs) that police themselves under the supervision of the Securities and Exchange Commission. [...]
This article presents an empirical model of housing supply derived from urban growth theory. This approach describes new housing construction as a function of changes in house prices and costs [...]
This study examines the role of variations in occupational licensing policies and practices in improving the outputs of services provided to consumers, and the effect of restrictive regulations on the [...]
This paper describes the relationship between land use regulation and residential construction. We characterize regulations as either adding explicit costs, uncertainty, or delays to the development process. The theoretical framework [...]
In several key industries, including semiconductors, biotechnology, computer software, and the Internet, our patent system is creating a patent thicket: an overlapping set of patent rights requiring that those seeking [...]
Urban economics has traditionally viewed cities as having advantages in production and disadvantages in consumption. We argue that the role of urban density in facilitating consumption is extremely important and [...]
An owner-occupied home is an unusual asset because it cannot be diversified among locations and because it is the only sizable asset that most owners possess. Among the uninsured risks [...]
Tiebout’s “vote with your feet” model dispensed with political behavior in local government. The present article offers a political model borrowed from corporate finance. Local governments are viewed as municipal [...]