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Working Paper
Rethinking Detroit
We study the urban structure of the City of Detroit. Following many decades of decline, the city?s current urban structure is clearly not optimal for its size, with a business district immediately surrounded by a ring of largely vacant neighborhoods. We propose a model with residential externalities that features multiple equilibria at the neighborhood level. In particular, developing a residential area requires the coordination of developers and residents, without which it may remain vacant even if its fundamentals are sound. We embed this mechanism in a quantitative spatial economics model ...
Journal Article
The long and short of interest rates
Media headlines announcing Federal Reserve actions to raise interest rates have appeared on several occasions this year.
Journal Article
Some help interpreting the help-wanted ad index
During periods of slow job growth, some economic analysts look to the Conference Board's help-wanted ad index as a harbinger of future jobs and economic activity.
Journal Article
Venturing along the road less traveled: Virginia's experience with a private toll road
Private entrepreneurship is giving birth to new lanes of travel, but the labor is proving painful. Lessons learned from this experience should make the creation of private toll roads easier in the future.
Journal Article
Agriculture: Le parfum de hog
Hogs and people aren't making good neighbors.
Journal Article
For North Carolina, 1991 was mixed
Journal Article
District business failures show economy's impact
Journal Article
NAFTA's impact on the District