Urban sprawl has sparked a national debate over land-use policy. At least 19 states have established either state growth-management laws or task forces to protect farmland and open space. Dozens [...]
We analyze a model of voluntary disclosure by firms in financial market and the desirability of disclosure regulation. In our model firms choose the precision of their disclosure. Disclosure is [...]
This paper examines the patenting behavior of firms in an industry characterized by rapid technological change and cumulative innovation. Recent evidence suggests that semiconductor firms do not rely heavily on [...]
It may be advantageous to provide a variety of kinds of patent protection to heterogenous innovations. Innovations which benefit society largely through their use as building blocks to future inventions [...]
Local and state government officials and environmental activists use the term to create images of disorder, chaos, and irrational decision making about land use by Michigan’s private landowners. These officials [...]
More than 100 cities and counties have adopted some form of a growth boundary—a limit on land development beyond a politically designated area—to curb sprawl, protect open space, or encourage [...]
Urban-growth boundaries are emerging as one of the most popular growth-management tools in the fight against suburbanization. More than 100 cities and counties have adopted them, and statewide mandates for [...]
Based on two surveys of 490 Californian cities and counties, the study examines the effects of local growth-control enactment between 1979 and 1988 on net housing construction between 1980 and [...]
Both investors and borrowers are concerned about liquidity. Investors desire liquidity because they are uncertain about when they will want to eliminate their holding of a financial asset. Borrowers are [...]
This paper attempts to set forth a framework for thinking about growth volatility which is general enough to incorporate the important structural, institutional, and policy variations among countries which might [...]