Found 96 article(s) for author 'Edward Glaeser'

The Supply of Environmentalism: Psychological Interventions and Economics

The Supply of Environmentalism: Psychological Interventions and Economics. Edward Glaeser, August 2013, Paper. “Long before economics turned to psychology, environmentalists were nudging and framing and pushing their cause like highly gifted amateur psychologists. Their interventions seem to have changed behavior by altering beliefs, norms and preferences, but because psychological interventions are often coarse, inadvertent, offsetting side effects occur. After discussing the interplay between environmental preference-making and economics, I turn to three areas where strong, simple views have spread–electric cars, recycling and…” Link

Tags: ,

Postmortem for a Housing Crash

Postmortem for a Housing Crash. Edward Glaeser, August 2013, Book Chapter. “This chapter begins with a brief review of how America’s housing market crash damaged received wisdom about housing markets and housing policy as well as the portfolios of households and financial institutions. This is followed by an overview of the subsequent chapters. It then discusses what actually happened to prices and construction during and after the housing boom; the causes of the boom and how changes in credit conditions play a dominant role in the search for causes; and the future of housing policy.” (May require user account or purchase) Link

Tags: , ,

A Nation of Gamblers: Real Estate Speculation and American History

A Nation of Gamblers: Real Estate Speculation and American History. Edward Glaeser, May 2013, Paper. “The great housing convulsion that buffeted America between 2000 and 2010 has historical precedents, from the frontier land boom of the 1790s to the skyscraper craze of the 1920s. But this time was different. There was far less real uncertainty about fundamental economic and geographic trends, making the convulsion even more puzzling. During historic and recent booms, sensible models could justify high prices on the basis of seemingly reasonable projections about stable or growing prices. The recurring error appears to be…” Link

Tags: , ,

Shrouded Costs of Government: The Political Economy of State and Local Public Pensions

Shrouded Costs of Government: The Political Economy of State and Local Public Pensions. Edward Glaeser, April 2013, Paper. “Why are public-sector workers so heavily compensated with pensions and other non-pecuniary benefits? In this paper, we present a political economy model of shrouded compensation in which politicians compete for taxpayers’ and public employees’ votes by promising compensation packages, but some voters cannot evaluate every aspect of compensation. If pension packages are “shrouded,” meaning that public-sector workers better understand their value…” Link

Tags: , ,

Brasilia’s Hubris is a Warning to Urban Dreamers

Brasilia’s Hubris is a Warning to Urban Dreamers. Edward Glaeser, December 9, 2012, Paper. “Oscar Niemeyer, who died last week, was a controversial giant. Best known for designing a new capital city for his native Brazil and the UN headquarters in New York, his work resonates across the world. At his best, Niemeyer curved the skyscraper and made height humane. But Brasilia, despite its beauty , also serves as an illustration of the dangers of utopian over-planning. Beautiful buildings made Niemeyer famous among architects and critics. But by making height more than merely a practical answer…” May require purchase or user account. Link

Tags: , ,

Rethinking Federal Housing Policy

Rethinking Federal Housing Policy. Edward Glaeser, December 2008, Book. “The current housing crisis provides an opportunity to rethink federal housing policies aimed at housing affordability. Good housing policies should be rooted in good economics and a recognition that America’s diverse housing markets are treated poorly by one-size-fits-all policies. Glaeser and Gyourko’s thorough examination of national housing policy emphasizes the role that local conditions play in determining whether housing is affordable for the poor and the middle class. They divide the nation into three types of…” May require purchase or user account. Link

Tags: ,

Urban Public Finance

Urban Public Finance. Edward Glaeser, July 2012, Paper. “America’s local governments spend about one-eighth of our national income, one-fourth of total government spending, and employ over 14 million people. This paper surveys the large and growing economics literature on local governments and their finances. A primary difference between local and national government is the ease of labor mobility within countries, which disciplines local governments and means that heterogeneous service levels can be beneficial, but mobility also challenges local attempts at redistribution. The empirical…” (May require purchase or user account) Link

Tags: ,

The Political Risks of Fighting Market Failures: Subversion, Populism and the Government Sponsored Enterprises

The Political Risks of Fighting Market Failures: Subversion, Populism and the Government Sponsored Enterprises. Edward Glaeser, May 2012, Paper. “There are many possible ways of reforming the Government-Sponsored Enterprises that insure mortgages against default, including a purely public option, complete privatization or a hybrid model with private firms and public catastrophic insurance. If the government is sufficiently capable and benign, either public intervention can yield desirable outcomes; the key risks of any reform come from the political process. This paper examines the political risks, related to corruption and…” Link

Tags: , ,

Fire Up America’s Jobs Factory With Aid for Startups

Fire Up America’s Jobs Factory With Aid for Startups. Edward Glaeser, March 26, 2012, Paper. “Politicians, even those who vilify corporate America, inevitably laud small businesses. They are right to appreciate the enormous role that entrepreneurship plays in the U.S. economy, but it’s not clear how much public policy can do to conjure up entrepreneurs. Last week, with broad support, the Senate passed an amended version of the Jumpstart Our Business Startups Act (or the JOBS Act). Because the bill had already been passed by the House on March 8, and is supported by the White House, it seems bound to become law. The act…” Link

Tags: , , ,