The dramatic government takeover of Fannie Mae and Freddie Mac in September, 2008 was motivated in part by a desire to ensure a continued flow of credit to the mortgage market. This study examines a closely related issue: the extent to which GSE activity crowds out mortgage purchases by private...

Commercial buildings play a major role in determining U.S. greenhouse gas emissions, yet surprisingly little is known about the environmental performance of different buildings at a point in time or how the same buildings perform over time. By exploiting a unique panel of commercial buildings...

Manufacturing industries differ with respect to their energy intensity, labor-to-capital ratio and their pollution intensity. Across the United States, there is significant variation in electricity prices and labor and environmental regulation. This paper examines whether the basic logic of...