Search Results
Trade liberalization reduces entrepreneurship rate
Our research suggests that if the world becomes increasingly interconnected through international trade, entrepreneurship rates will decrease over time.
Working Paper
Supply Constraints Do Explain House Price and Quantity Growth Across U.S. Cities
In a widely cited working paper, Louie, Mondragon and Wieland (2025) find that higher income growth predicts the same growth in house prices, housing quantity and population regardless of a city's estimated housing supply elasticity, implying that constrained housing supply is relatively unimportant in explaining differences in rising house prices among U.S. cities. We show that their findings do not hold up—our evidence is that supply constraints do explain new housing supply and house prices across U.S. cities, in line with the literature. Inter alia, we model the effect of supply ...