Found 78 article(s) for author 'Edward Glaeser'

Can Cheap Credit Explain the Housing Boom?

Can Cheap Credit Explain the Housing Boom? Edward Glaeser, Joshua Gottlieb, July 2010, Paper. “Between 1996 and 2006, real housing prices rose by 53 percent according to the Federal Housing Finance Agency price index. One explanation of this boom is that it was caused by easy credit in the form of low real interest rates, high loan-to-value levels and permissive mortgage approvals. We revisit the standard user cost model of housing prices and conclude that the predicted impact of interest rates on prices is much lower once the model is generalized to include mean-reverting interest rates, mobility, prepayment, elastic…” Link 

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The Varieties of Regional Change

The Varieties of Regional Change. Edward Glaeser, Kristina Tobio, Giacomo Ponzetto, June 2010, Paper. “Many metropolitan areas have experienced extreme boom-bust cycles over the past century. Some places, like Detroit, grew enormously as industrial powerhouses and then declined, while other older cities, like Boston, seem quite resilient. Education does a reasonable job of explaining urban resilience. In this paper, we present a simple model where education increases the level of entrepreneurship. In this model, human capital spillovers occur at the city level because skilled workers produce more product varieties and thereby…” Link

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Agglomeration Economics

Agglomeration Economics. Edward Glaeser, February 2010, Book Chapter. “When firms and people are located near each other in cities and in industrial clusters, they benefit in various ways, including by reducing the costs of exchanging goods and ideas. One might assume that these benefits would become less important as transportation and communication costs fall. Paradoxically, however, cities have become increasingly important, and even within cities industrial clusters remain vital. Agglomeration Economics brings together a group of essays that examine the reasons why economic activity continues to cluster together despite…” Link

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The Greenness of China: Household Carbon Dioxide Emissions and Urban Development

The Greenness of China: Household Carbon Dioxide Emissions and Urban Development. Edward Glaeser, December 2009, Paper. “China urbanization is associated with both increases in per capita income and greenhouse gas emissions. This article uses micro data to rank 74 major Chinese cities with respect to their household carbon footprint. We find that the ‘greenest’ cities based on this criterion are Huaian and Suqian while the ‘dirtiest’ cities are Daqing and Mudanjiang. Even in the dirtiest city (Daqing), a standardized household produces only one-fifth of the emissions produced in America’s greenest city…” Link

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Urban Economics and Entrepreneurship

Urban Economics and Entrepreneurship. Edward Glaeser, November 2009, Paper. “Research on entrepreneurship often examines the local dimensions of new business formation. The local environment influences the choices of entrepreneurs; entrepreneurial success influences the local economy. Yet modern urban economics has paid relatively little attention to entrepreneurs. This essay introduces a special issue of Journal of Urban Economics dedicated to the geography of entrepreneurship. The paper frames the core questions facing researchers interested in assessing the local causes and consequences of entrepreneurship…” Link

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Inequality in Cities

Inequality in CitiesEdward Glaeser, Kristina Tobio, October 1, 2009, Paper. “Much of the inequality literature has focused on national inequality, but local inequality is also important. Crime rates are higher in more unequal cities; people in unequal cities are more likely to say that they are unhappy. There is a negative association between local inequality and the growth of city-level income and population, once we control for the initial distribution of skills. High levels of mobility across cities mean that city-level inequality should not be studied with the same analytical tools used…” May require purchase or user account. Link

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The Complementarity Between Cities and Skills

The Complementarity Between Cities and Skills, Edward Glaeser, June 2009, Paper. “There is a strong connection between per-worker productivity and metropolitan area population, which is commonly interpreted as evidence for the existence of agglomeration economies. This correlation is particularly strong in cities with higher levels of skill and virtually nonexistent in less skilled metropolitan areas. This fact is particularly compatible with the view that urban density is important because proximity spreads knowledge, which either makes workers more skilled or entrepreneurs more productive…” Link

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The Wealth of Cities: Agglomeration Economies and Spatial Equilibrium in the United States

The Wealth of Cities: Agglomeration Economies and Spatial Equilibrium in the United States. Edward Glaeser, March 2009, Paper. “Empirical research on cities starts with a spatial equilibrium condition: workers and firms are assumed to be indifferent across space. This condition implies that research on cities is different from research on countries, and that work on places within countries needs to consider population, income and housing prices simultaneously. Housing supply elasticity will determine whether urban success shows up in more people or higher incomes. Urban economists generally…” May require purchase or user account. Link

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Green Cities, Brown Suburbs

Green Cities, Brown Suburbs. Edward Glaeser, January 2009, Paper. “Contends that much local environmentalism, with its anti-development posture, is, in fact, bad for the environment & that urban development leaves a smaller carbon footprint than low-density suburbs. Attention is given to CA’s building restrictions, asserting that the state has things backwards…” Link

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The Economics of Place-Making Policies

The Economics of Place-Making Policies. Edward Glaeser, Joshua Gottlieb, October 2008, Paper. “Should the national government undertake policies aimed at strengthening the economies of particular localities or regions? Agglomeration economies and human capital spillovers suggest that such policies could enhance welfare. However, the mere existence of agglomeration externalities does not indicate which places should be subsidized. Without a better understanding of nonlinearities in these externalities, any government spatial policy is as likely to reduce as to increase welfare. Transportation spending has historically done…” Link

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