The Role of Housing in Labor Reallocation
This paper builds a dynamic general equilibrium model of cities and uses it to analyze the role of local housing markets and moving costs in determining the character and extent [...]
The Housing Market Effects of Discrete Land Use Regulations: Evidence from the California Coastal Boundary Zone
The California Coastal Act is a distinctive piece of land use regulation. Its intent is to preserve a unique environmental asset. This paper has used two different data sets to [...]
Housing markets and the financial crisis of 2007-2009: Lessons for the future
An unsustainable weakening of credit standards induced a US mortgage lending and housing bubble, whose consumption impact was amplified by innovations altering the collateral role of housing. In countries with [...]
Performance of State Medical Boards: Implications For Hospitals and Health Systems
The accountabilities and operations of state medical boards can have significant implications for hospitals and health systems in terms of their efforts to ensure quality care and patient safety. This [...]
Recruiting for Ideas: How Firms Exploit the Prior Inventions of New Hires
When firms recruit inventors, they acquire not only the use of their skills but also enhanced access to their stock of ideas. But do hiring firms actually increase their use [...]
The Inequality that Matters
The use of micro-data now makes it possible to trace some high earners by income and thus construct a partial picture of what is going on among the upper echelons [...]
Land use regulation and welfare
We estimate the effect of land use regulation on the value of land by exploiting variation in regulation and land values across municipal borders. Since the value of land gives [...]
On the Political Economy of Urban Growth: Homeownership versus Affordability
We study the equilibrium properties of an overlapping-generation economy where agents choose where to locate, and how much housing to own, and city residents vote on the number of new [...]
Knowledge diffusion from FDI and Intellectual Property Rights
We study the extent to which a country's strength of Intellectual Property Rights (IPR) protection mediates knowledge spillovers from Foreign Direct Investment (FDI). Following the opposing views in the IPR [...]
Hedge Fund Leverage
We investigate the leverage of hedge funds in the time series and cross section. Hedge fund leverage is counter-cyclical to the leverage of listed financial intermediaries and decreases prior to [...]