Although long obscured by the Great Depression, the nationwide "bubble" that appeared in the early 1920s and burst in 1926 was similar in magnitude to the recent real estate boom [...]
We show that in both countries occupational licensing has a large impact on wage determination. The wage premium associated with licensing stands at approximately 18 per cent in the US [...]
There is a strong consensus among policymakers that there need to be higher minimum capital requirements for banks in order to foster a more stable financial system and to help [...]
The U.S. Constitution vests all the “legislative powers” it grants in Congress. The Supreme Court allows Congress to delegate some authority to executive officials provided an “intelligible principle” guides such [...]
This article studies the effect of recruitment restrictions on mobility and wages in the postbellum U.S. South. I estimate the effects of criminal fines charged for “enticement” (recruiting workers already [...]
Stereotypical images of suburbs as homogeneous, residential neighborhoods comprised of single-family houses on individual lots have become synonymous with sprawl. Discourses on smart growth, new urbanism, and sustainability promote increasing [...]
In what follows, we lay out the case for new, place-conscious strategies. We begin by reviewing the well-documented case that place does indeed matter—that where you grow up affects where [...]
While it is recognized that the high degree of leverage used by financial institutions creates systemic risks and other negative externalities, many argue that equity financing is “expensive,” and that [...]
The standard hedonic model of durable assets is a special case of a more general model that contains two additive terms: (1) use value of the existing hedonic vector and [...]
This paper examines the role of local housing supply conditions for social capital investment. Using...data from the Social Capital Community Benchmark Survey, it is documented that the positive link between [...]