The expansion in risky mortgages to underqualified borrowers was encouraged by the federal government. The growth of “creative” nonprime lending followed Congress’s strengthening of the Community Reinvestment Act, the Federal [...]
The median price of a single-family home in Houston dropped 8.5 percent compared to January 2008, according to the Houston Association of Realtors. But Houstonians are still much better off [...]
We model residential land use constraints as the outcome of a political economy game between owners of developed and owners of undeveloped land. Land use constraints are interpreted as shadow [...]
This Policy Analysis explains the antecedents of the current global financial crisis and critically examines the reasoning behind the U.S. Treasury and Federal Reserve’s actions to prop up the financial [...]
Financial-institution bailout policy in the United States is implemented through three agencies: the Federal Deposit Insurance Corporation, the Federal Reserve, and the Treasury Department. The need for orderly financial dealings, [...]
This study examines the extent and influence of occupational licensing in the U.S. using a specially designed national labor force survey. Specifically, we provide new ways of measuring occupational licensing [...]
According to the Council of State Governments, more than 800 occupations are subject to licensing requirements in at least one state. It is, therefore, not surprising that a 2006 Gallup [...]
Social capital is often place-specific while schooling is portable, so the prospect of migration may reduce the returns to social capital and increase the returns to schooling. If social capital [...]
There are many more examples of ways in which public members can strengthen their boards by raising issues and concerns and introducing agenda items that licensee members are unlikely to [...]
The authors argue that anti-density zoning increases Black residential segregation in U.S. metropolitan areas by reducing the quantity of affordable housing in White jurisdictions. Drawing on census data and local [...]