A paper presented at the February 2002 conference quot;Policies to Promote Affordable Housing,quot; cosponsored by the Federal Reserve Bank of New York and New York University's Furman Center for Real Estate and Urban Policy

In recent years, the federal government has increasingly relied upon states and cities to create and administer social policy. This paper examines available theory and evidence regarding the appropriate role of different levels of government, focusing in particular on the role of cities....

Prior research has provided little evidence that subsidized housing investments generate significant external benefits to their neighborhoods. This paper revisits the external effects of subsidized housing, exploring the case of New York City. Relying on geocoded administrative data, we estimate...