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Working Paper
Housing externalities : evidence from spatially concentrated urban revitalization programs
Using data compiled from concentrated residential urban revitalization programs implemented in Richmond, VA, between 1999 and 2004, we study residential externalities. Specifically, we provide evidence that in neighborhoods targeted by the programs, sites that did not directly benefit from capital improvements nevertheless experienced considerable increases in land value relative to similar sites in a control neighborhood. Within the targeted neighborhoods, increases in land value are consistent with externalities that fall exponentially with distance. In particular, we estimate that housing ...
Working Paper
Survey evidence of tighter credit conditions: what does it mean?
Since early 1990, the results of the Federal Reserve Board's Senior Loan Officer Opinion Survey on Bank Lending Practices have been cited frequently as an indicator of general credit availability. Results from the Board's survey suggest that a considerable share of respondent banks were tightening their lending standards during 1990 and early 1991. How should these results be interpreted? This article attempts to answer this question by addressing the nature of the survey, examining the recent responses more closely and comparing recent results to past results.
Journal Article
Credit crunch?
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
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
The Rise and Decline of Petersburg, Va.
Early Virginians looked at Petersburg, with its location on the Appomattox River, as a town of economic vibrancy and promise. Incorporated in 1748 by the Virginia General Assembly, the town fulfilled that early promise and grew to become the commonwealth's third independent city in 1850. But turmoil as well as prosperity for Petersburg were ahead. {{p}} Throughout its 270 years, three factors have dominated Petersburg's economic history: tobacco, trade, and transportation. The city's early economic prominence was due to its tobacco plantations and warehouses as well as various mills powered ...
Journal Article
Opinion : Bubble talk
Journal Article
Agricultural summary and outlook
Conference participants foresee another good year for farm income.