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Author:Edmiston, Kelly D. 

Working Paper
Low-income housing tax credit developments and neighborhood property conditions

Public housing has long been a contentious issue for cities and regions. While there is a great need for affordable housing in many communities, neighbors of low-income housing developments fret about neighborhood decay. This paper evaluates the notion that low-income housing developments damage the communities in which they are placed. The focus is on the evaluation of low-income housing tax credit (LIHTC) financed developments, and the neighborhood indicator of interest is the physical condition of nearby properties. The results of the empirical analysis suggest that proximity to LIHTC ...
Research Working Paper , Paper RWP 11-10

Journal Article
Could restrictions on payday lending hurt consumers?

The payday loan, or more generally, the deferred deposit loan, is among the most contentious forms of credit. It typically signifies a small-dollar, short-term, unsecured loan to a high-risk borrower, often resulting in an effective annual percentage rate of 390 percent a rate well in excess of usury limits set by many states. Consumer advocates argue that payday loans take advantage of vulnerable, uninformed borrowers and often create ?debt spirals.? Debt spirals arise from repeated payday borrowing, using new loans to pay off old ones, and often paying many times the original loan amount in ...
Economic Review , Volume 96 , Issue Q I

Working Paper
Student loans: overview and issues

This report provides a detailed overview of the student loan market, presents new statistics that highlight student loan debt burdens and delinquency rates, and discusses current concerns among many Americans about student loans, including their fiscal impact. The report is intended to enhance awareness of the state of student loan debt and delinquency and highlight issues facing borrowers, creditors, the federal government, and society at large. ; Student loan debt has been increasing at a rapid pace in the last decade, climbing from about $364 billion in the first quarter of 2005 to $904 ...
Research Working Paper , Paper RWP 12-05

Working Paper
The role of small business in economic development

This paper sets out to evaluate the role that entrepreneurs and small businesses play in economic development. How important are entrepreneurs and small businesses in creating jobs, and are these the types of jobs that should be encouraged? How important are entrepreneurs and small businesses in the development of new products and new markets? Does promoting entrepreneurship and small businesses make sense as an economic development strategy? The answer is yes, but with some qualifications. Small businesses are potent job creators, but so are large businesses. The attribution of the bulk of ...
Community Affairs Research Working Paper , Paper 2005-01

Working Paper
Financial education at the workplace: evidence from a survey of Federal Reserve Bank employees

There are a number of possible explanations for the seemingly irresponsible financial behavior of many Americans. In this paper we argue that an important explanation is simply ignorance: consumers often make poor financial decisions because they do not know how to make good ones. In particular, we stress that consumers may not realize the importance of saving for the future, and that they may not perceive the trouble they can bring upon themselves by incurring large amounts of unsecured debt. Using survey data from employees of the Federal Reserve Bank of Kansas City, we demonstrate that, at ...
Community Affairs Research Working Paper , Paper 2006-02

Journal Article
Attracting the power cohort to the Tenth District

A long debated issue in regional economics is whether ?people follow jobs? or ?jobs follow people.? That is, do people move to where jobs are available, or do employers locate their facilities where potential employees reside? If people follow jobs, an appropriate economic development policy would be to concentrate on luring employers, especially large employers. This view reflects many traditional state and local economic development policies. If, on the other hand, jobs follow people, a better policy would be to focus on luring skilled people by creating an environment that is an attractive ...
Economic Review , Volume 94 , Issue Q IV , Pages 69-91

Conference Paper
Introduction : entrepreneurship in low and moderate income communities

Proceedings: Community Affairs Dept. Conferences , Issue Jul , Pages xvii-xxvii

Working Paper
Economic effects of apportionment formula changes : results from a panel of corporate income tax returns

To date empirical studies of the economic effects of changes in state corporate income tax apportionment policies have used only highly aggregated, state-level data. This study uses data at the individual firm level, which is provided by a population of corporate income tax returns from the State of Georgia over the period 1992 2002, to evaluate the economic development and revenue aspects of increasing the sales factor weight (and uniformly lowering the weights on payroll and property) in state corporate income tax apportionment formulas. Looking at the firm level, we find elasticities ...
Community Affairs Research Working Paper , Paper 2005-03

Working Paper
Worker's compensation and state employment growth

Workers Compensation reforms have been on the table in virtually every state over the last several years, and many states have launched comprehensive reforms. At least nine states undertook major reforms of their workers compensation systems in 2004 alone, and the reforms were driven largely by claims that higher workers compensation costs are driving away businesses and the employment that comes with them. Given the nearly universal assertion by promoters of workers compensation reforms that high cost states lose jobs to relatively low cost states, one would expect that substantial research ...
Community Affairs Research Working Paper , Paper 2005-04

Journal Article
Structural and Cyclical Trends in the Supplemental Nutrition Assistance Program

Participation in the Supplemental Nutrition Assistance Program (SNAP) has increased sharply over the past 20 years. Average monthly participation grew from 17.3 million people in 2001 to a peak of 47.6 million people in 2013. Although participation declined somewhat as the economy recovered from the Great Recession, SNAP participation remains well above its pre-recession level. {{p}} Kelly D. Edmiston investigates the forces driving long-term patterns in SNAP participation as well as its cyclical variation. He finds that three structural factors?legislative and programmatic changes, poverty, ...
Economic Review , Issue Q I , Pages 59-81

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