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Working Paper
A Bayesian VAR forecasting model for the Philadelphia Metropolitan Area
Vector-autoregression (VAR) forecast models have been developed for many state economies, including the three states in the Third Federal Reserve District--Pennsylvania, New Jersey, and Delaware. This paper extends that work by developing a Bayesian VAR forecast model for the Philadelphia metropolitan area and the city of Philadelphia.
Journal Article
Central city decline: regional or neighborhood solutions?
The decline of a central city often has economic and social implications for an entire region. But where does the solution lie? Are regional approaches to problems concentrated in central cities warranted? Or should we seek local solutions by transforming cities into a group of smaller, more autonomous communities? Dick Voith looks at some of the issues involved in these questions and suggests that the regional benefits of improving a central city's economy are large
Working Paper
Transportation investments in the Philadelphia metropolitan area: who benefits? Who pays? And what are the consequences?
In this paper, the author examines the geographic distribution of transportation investments as well as the question of who pays for the investments in the Philadelphia metropolitan area, focusing on differences between the city and its surrounding Pennsylvania suburban counties. The author presents estimates of total, per capita, and per user benefits of highway investments, as well as fees generated by highway users at the county level. The author also examines the combined highway and transit investments in the suburbs as a whole and in the city. ; There are three central findings in this ...
Journal Article
The downtown parking syndrome: does curing the illness kill the patient?
Consumers and businesses alike cite the lack of free parking as one of the major problems associated with working, playing, and shopping downtown. A shortage of parking spaces can also lead to higher prices for those parking slots available as well as violation of parking ordinances by frustrated citizens. In light of widespread concerns about parking downtown, should large cities adopt policies to encourage more parking in a central business district (CBD), or should they improve public transit as an alternative to driving? Cities must consider many factors before answering such questions. ...
Journal Article
Do you know how much money is in your public purse?
Journal Article
The Philadelphia story: a new forecasting model
Several years ago, the Philadelphia Fed developed a small forecasting model for each of the three states in the Third Federal Reserve DistrictCPennsylvania, New Jersey, and Delaware. This article introduces a similar model that forecasts major economic variables for the Philadelphia metropolitan area and the city of Philadelphia. Read this article and find out what the model predicts for the metro area and the city
Journal Article
Has suburbanization diminished the importance of access to Center City?
Nine years ago, the Business Review examined the role that access to Center City Philadelphia played in people's choices about where to live and how to commute. Using 1980 census data, that analysis concluded that access to Center City by both car and public transportation shaped people's choices in important ways. But since 1980, the Philadelphia metropolitan area has undergone a great deal of change, including a decentralization of both population and employment. In this article, Dick Voith revisits the questions first posed almost a decade ago to see how employment and population shifts ...
Journal Article
De novo banking in the third district