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More than 17 percent of households in American central cities live in poverty; in American suburbs, just 7.4 percent of households live in poverty. The income elasticity of demand for land is too low for urban poverty to be the result of wealthy individuals' wanting to live where land is cheap...
Persistent link: https://www.econbiz.de/10012471131
Recent theories of economic growth, including Romer (1986), Porter (1989) and Jacobs (1969), have stressed the role of technological spillovers in generating growth. Because such knowledge spillovers are particularly effective in cities, where communication between people is more extensive, data...
Persistent link: https://www.econbiz.de/10012475213
poverty and weak governance reduce the ability to address the negative externalities that come with density. This paper models … down. For large cities with weak governments, draconian policies may be the only way to curb negative externalities … to reduce negative externalities is less costly when city populations are low or institutions are strong, but that public …
Persistent link: https://www.econbiz.de/10012458918
Cities generate negative, as well as positive, externalities; addressing those externalities requires both …
Persistent link: https://www.econbiz.de/10012456762
People continue to live in many big American cities, because in those cities housing costs less than new construction. While cities may lose their productive edge, their houses remain and population falls only when housing depreciates. This paper presents a simple durable housing model of urban...
Persistent link: https://www.econbiz.de/10012470118
A central requirement in the design of a legal system is the protection of law enforcers from coercion by litigants through either violence or bribes. The higher the risk of coercion, the greater the need for protection and control of law enforcers by the state. This perspective explains why, in...
Persistent link: https://www.econbiz.de/10012470452
Contrary to the standard economic advice, many regulations of financial intermediaries, as well as other regulations such as blue laws, fishing rules, zoning restrictions, or pollution controls, take the form of quantity controls rather than taxes. We argue that costs of enforcement are crucial...
Persistent link: https://www.econbiz.de/10012470542
To identify the determinants of social capital formation, it is necessary to understand the social capital investment decision of individuals. Individual social capital should then be aggregated to measure the social capital of a community. This paper assembles the evidence that supports the...
Persistent link: https://www.econbiz.de/10012471022
This paper estimates a dynamic model of schooling attainment to investigate the sources of discrepancy by race and ethnicity in college attendance. When the returns to college education rose, college enrollment of whites responded much more quickly than that of minorities. Parental income is a...
Persistent link: https://www.econbiz.de/10012471541
This paper considers the problem of policy evaluation in a modern society with heterogeneous agents and diverse groups with conflicting interests. Several different approaches to the policy evaluation problem are compared including the approach adopted in modern welfare economics, the classical...
Persistent link: https://www.econbiz.de/10012471559