Found 93 article(s) for author 'Edward Glaeser'

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

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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

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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

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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

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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

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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

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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

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Housing Booms and City Centers

Housing Booms and City Centers. Edward Glaeser, Kristina Tobio, Joshua Gottlieb, March 2012, Paper. “Popular discussions often treat the great housing boom of the 1996-2006 period as if it were a national phenomenon with similar impacts across locales, but across metropolitan areas, price growth was dramatically higher in warmer, less educated cities with less initial density and higher initial housing values. Within metropolitan areas, price growth was faster in neighborhoods closer to the city center. The centralization of price growth during the boom was particularly dramatic in those metropolitan areas where income is higher away from the…” Link

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The End of the Segregated Century: Racial Separation in America’s Neighborhoods, 1890-2010

The End of the Segregated Century: Racial Separation in America’s Neighborhoods, 1890-2010. Edward Glaeser, January 2012, Paper. “Over the past century, residential segregation in the United States has undergone two radical transformations. The first occurred between 1910 and 1960, as African-American migration to cities met with white hostility and produced massive ghettos in almost every major city. The second transformation is still ongoing, according to recently released data from the 2010 census. Segregation has declined steadily from its mid-century peak, with significant drops in every decade since 1970. As of…” Link

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The Challenge of Urban Policy

The Challenge of Urban Policy. Edward Glaeser, November 1, 2011, Paper. “Urbanization almost invariably accompanies development, and the cities of India and China are experiencing spectacular increases in population. The concentration of millions of people in a small mass creates challenges for public policy, especially in the areas of basic infrastructure, public health, traffic congestion, and often law enforcement as well. In this essay, I discuss five core debates in urban policy, including the optimal degree of federalism, private versus public provision of urban services, optimal land use…” (May require purchase or user account) Link

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