Cities exist because of the productivity gains arising from clustering production and workers, a process called agglomeration. How important is agglomeration for aggregate growth? This paper constructs a dynamic stochastic general equilibrium model of cities and uses it to estimate the effect of...

The objective of this paper is to examine efficiency, distributional, environmental (CO2 emissions) and spatial effects of increasing different kinds of transport subsidies discriminating between household types, travel purposes and travel modes. The effects are calculated by applying a...

This study examines why monetary policy at the national level can have vastly different effects on appreciation rates of single family houses across metropolitan statistical areas (MSAs). The study employs Case/Shiller monthly house price index data for 19 MSAs from 1992:06 to 2014:12 and FHFA...

Expanding airports is a topic which can easily make it to the first page of the national press. But this is highly unlikely as "bad news" is "good news" and most often failures and scandals make it to the front page. Berlin airport or the on-going failure to open up a nearly-complete new airport...

Thomas Friedman has argued in The World Is Flat that those who deny rapid globalization will not survive in the global economy. First, we critically discuss Friedman's views and highlight the new globalization driven by outsourcing and vertical specialization. Second, we argue that Friedman pays...

Nepal government had established National Reconstruction Authority (NRA) for the Reconstruction of Earthquake Affected Structures. Chitwan is one of the least affected districts where Bharatpur Metropolitan City lies. In Bharatpur, there were 711 total victims whose houses were completely...