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on Urban and Real Estate Economics |
| By: | Chi-Young Choi; Soojin Jo |
| Abstract: | Analyzing city-level retail price data for a variety of consumer products, we find that house price changes lead local consumer price changes, but not vice versa. The transmission of the house price changes differs substantially across locations and products. It also hinges on the nature of housing market shocks; housing supply shocks propagate through the cost-push channel via local cost and markup effects, while housing demand shocks transmit through conventional wealth and collateral effects. Our findings suggest that housing may exert greater impacts on the local cost-of-living and consumer welfare than what is reflected in its share in CPI. |
| Keywords: | Housing market; Consumer price; U.S. cities; Pass-through; FAVAR model; VECM |
| JEL: | E21 E31 R20 R30 |
| Date: | 2020–08–27 |
| URL: | http://d.repec.org/n?u=RePEc:fip:feddgw:88669&r=all |
| By: | Eric A. Hanushek (Stanford, UT Dallas, and NBER); Kuzey Yilmaz (Cleveland State University) |
| Abstract: | The educational story in the United States is thoroughly intertwined with residential location. Poverty, race, and schooling are very highly correlated with location, and the institutional structure of public education decision making in the United States leads to a close linkage of location, housing, and education. As a result, residential decisions have added implications for households. Moreover, the reliance on the local tax for a large portion of school funding implies that the governmental grant system has an important effect on both locational decisions and on educational outcomes. This chapter provides a theoretical and empirical discussion of the interaction of location and schooling. In contrast to this discussion that emphasizes the behavior of households in choosing a location, a range of policy decisions have explicitly been based on location but for the most part assuming that households will not react to the policies. These policies aim to alter the attractiveness of a local school district but generally ignore any general equilibrium effects from household behavior. Here we also review some of the more important policies affecting the location-schooling equilibrium. |
| Keywords: | Residential Segregation, Educational Finance, Government Policy |
| JEL: | H4 I2 R2 |
| Date: | 2020–07–03 |
| URL: | http://d.repec.org/n?u=RePEc:cth:wpaper:gru_2020_017&r=all |
| By: | Benjamin Patrick Evans; Kirill Glavatskiy; Michael S. Harr\'e; Mikhail Prokopenko |
| Abstract: | Housing markets are inherently spatial, yet many existing models fail to capture this spatial dimension. Here we introduce a new graph-based approach for incorporating a spatial component in a large-scale urban housing agent-based model (ABM). The model explicitly captures several social and economic factors that influence the agents' decision-making behaviour (such as fear of missing out, their trend following aptitude, and the strength of their submarket outreach), and interprets these factors in spatial terms. The proposed model is calibrated and validated with the housing market data for the Greater Sydney region. The ABM simulation results not only include predictions for the overall market, but also produce area-specific forecasting at the level of local government areas within Sydney. In addition, the simulation results elucidate movement patterns across submarkets, in both spatial and homeownership terms, including renters, first-time home buyers, as well as local and overseas investors. |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2009.06914&r=all |
| By: | Ahasan, Rakibul (Texas A&M University) |
| Abstract: | Affordable housing provision has been a challenge in the United States over the past years. As housing prices increase, a high number of people cannot afford to have their housing, and most residents can only afford to live in apartments in rental areas. This problem becomes more substantial for low-income people, who cannot afford to live near their workplace. Due to this spatial mismatch, these low-income people are forced to commute longer to reach their workplaces every morning in the city of Des Moines. This highlights the importance of proximity and access to the public transport system in the city. This study examined the relationship between investments in affordable housing by a non-profit organization, proximity to public transit, and housing prices in the City of Des Moines, in 2000 and 2018. |
| Date: | 2019–06–18 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:ghdx4&r=all |
| By: | Cassidy, Michael T. (Princeton University) |
| Abstract: | Proximity augments homeless students' educational outcomes. Homeless K-8 graders whose families are placed in shelters near their schools have 8 percent (2.4 days) better attendance, are a third (18 percentage points) less likely to change schools, and exhibit higher rates of proficiency and retention. Homeless high schoolers have 5 percent (2.5 days) better attendance, 29 percent (10 pp) lower mobility, and 8 percent (1.6 pp) greater retention when placed locally. These results proceed from novel administrative data on homeless families observed in the context of a scarcity-induced natural experiment in New York City. A complementary instrumental variable strategy exploiting homeless eligibility policy reveals a subset of proximity-elastic students benefit considerably more. Panel evidence demonstrates homelessness does not cause educational impairment as much as reflect large preexisting deficits. |
| Keywords: | homelessness, education, K-12, neighborhoods, families, housing, poverty alleviation, welfare policy, program evaluation, causal inference |
| JEL: | I21 I28 I38 H53 H75 D91 |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp13558&r=all |
| By: | Song, Zisheng (Department of Real Estate and Construction Management, Royal Institute of Technology); Wilhelmsson, Mats (Department of Real Estate and Construction Management, Royal Institute of Technology); Yang, Zan (Hang Lung Centre for Real Estate Studies Department of Construction Management Tsinghua University, Beijing, China) |
| Abstract: | Although the rental market is relatively small in China, rental housing is an integral part of the housing market as a whole and plays a vital role in reducing pressure from the owner-occupied housing sector. In general, knowledge about the functioning of the rental market and rental dynamics over space and time is relatively limited. The rent index is a useful indicator of the variation of rent and the rental housing market dynamics. Therefore, the primary aim of this paper is to construct a rental-housing index by employing the hedonic model approach. Clustering analysis will be used to identify different rental housing market segmentations. The case study is the rental housing market in Beijing, China, over the period 2016-2018. In summary, we can conclude that a more scientific approach to segmenting the housing market better accounts for the heterogeneity in the market than traditional administrative boundaries. |
| Keywords: | Rent Index; Hedonic Model; Cluster Analysis; Accessibility |
| JEL: | C43 C51 C52 R30 R32 |
| Date: | 2020–09–16 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:kthrec:2020_010&r=all |
| By: | Benjamin Feigenberg; Conrad Miller |
| Abstract: | During traffic stops, police search black and Hispanic motorists more often than white motorists, yet those searches are equally or less likely to yield contraband. We ask whether equalizing search rates by motorist race would reduce contraband yield. We use unique administrative data from Texas to isolate variation in search behavior across highway patrol troopers and find that, across troopers, search rates are unrelated to the proportion of searches that yield contraband. Our results imply that, in partial equilibrium, troopers can equalize search rates across racial groups, maintain the status quo search rate, and increase contraband yield. |
| JEL: | J15 K42 |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:27761&r=all |
| By: | Piyush Tiwari (University of Melbourne); Jyoti Rao (University of Melbourne) |
| Abstract: | Recent housing policy discourse in India, which aims to achieve housing for all, has ignored the way households meet their housing needs and adjust deviation between desired and actual housing consumption. As in the past housing programs, there is reliance on an aggregate notion of housing shortage in recent central government program for housing for all, Pradhan Mantri Awas Yojana (PMAY), which gives credence to new housing construction. This chapter highlights the importance of distinguishing new housing construction from the requirements to upgrade or extend an existing house to adjust gaps in housing consumption. These other methods of adjusting housing gap is the practice that households adopt on ground. The other emphasis that this chapter places is on the understanding of housing gap at the state level as due to cultural, climatic and institutional differences, the nature of housing problem at the state level differs. As discussed in the chapter, there are differences in housing affordability and housing gap at the state-level. Access and penetration to formal finance and development approval processes also differ. These together indicate that an approach to addressing housing gap will require a shift away from the macro notion of housing shortage and would need sub-national interventions, which are contextual to states and augment households’ own efforts to adjust their housing consumption. This would mean programs should place larger emphasis on self-help construction activities and improving penetration of formal finance in less well-off states. Experience of PMAY also indicates that assisting upgradation or extension will have better success than building new to meet household housing consumption requirements. |
| Keywords: | Housing gap, housing policy |
| JEL: | O18 R31 |
| Date: | 2020–07–03 |
| URL: | http://d.repec.org/n?u=RePEc:cth:wpaper:gru_2020_016&r=all |
| By: | Sebastian Kraus; Nicolas Koch |
| Abstract: | The bicycle is a low-cost means of transport linked to low risk of COVID-19 transmission. Governments have incentivized cycling by redistributing street space as part of their post-lockdown strategies. Here, we evaluate the impact of provisional bicycle infrastructure on cycling traffic in European cities. We scrape daily bicycle counts spanning over a decade from 736 bicycle counters in 106 European cities. We combine this with data on announced and completed pop-up bike lane road work projects. On average 11.5 kilometers of provisional pop-up bike lanes have been built per city. Each kilometer has increased cycling in a city by 0.6\%. We calculate that the new infrastructure will generate \$3 billion in health benefits per year, if cycling habits are sticky. |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2008.05883&r=all |
| By: | Remi Jedwab; Jason Barr; Jan K. Brueckner |
| Abstract: | There is a large literature in the U.S. measuring the extent and stringency of land-use regulations in urban areas and how these regulations affect important outcomes such as housing prices and economic growth. This paper is the first to present an international measure of regulatory stringency by estimating what we call building-height gaps. Using a novel geospatialized data set on the year of construction and heights of tall buildings around the world, we compare the total height of a country’s actual stock of tall buildings to what the total height would have been if building-height regulations were relatively less stringent, based on parameters from a benchmark set of countries. We find that these gaps are larger for richer countries and for residential buildings rather than for commercial buildings. The building-heights gaps correlate strongly with other measures of land-use regulation and international measures of housing prices, sprawl, congestion and pollution. Taken together, the results suggest that stringent building-height regulations around the world might be imposing relatively large welfare losses. |
| Keywords: | international buildings heights, tall buildings, skyscrapers, land use regulations, housing supply, housing prices, sprawl, congestion, pollution |
| JEL: | R30 R50 O18 O50 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_8511&r=all |
| By: | TAKAYAMA Yuki, (Kanazawa University); IKEDA Kiyohiro, (Tohoku University); THISSE Jacques-François, (Université catholique de Louvain, CORE, Belgium) |
| Abstract: | This paper explores the conditions for the emergence of a system of cities in a general equilibrium setting that accounts for the cost of shipping commodities between cities and the commuting cost borne by consumers within cities. Potential cities are equally distributed over a circular space. We find that the multiplicity of stable spatial equilibria is the rule and not the exception. Using the concept of stability areas to study the transition from one stable equilibrium to the next, we show that decreasing commuting or transportation costs generate equilibrium paths that feature either a megalopolis or hierarchical system of cities. |
| Keywords: | economic geographpy, cities, racetrack economy, multiplicity of stable equilibria, commuting costs, transportation costs |
| JEL: | F12 R12 |
| Date: | 2020–01–23 |
| URL: | http://d.repec.org/n?u=RePEc:cor:louvco:2020005&r=all |
| By: | Pierre-Loup Beauregard (Vancouver School of Economics, University of British Columbia); Marie Connolly (Department of Economics, University of Quebec in Montreal); Catherine Haeck (Department of Economics, University of Quebec in Montreal); Timea Laura Molnar (Department of Economics and Business, Central European University) |
| Abstract: | In this paper, we exploit the geographical pattern of primary school reopenings during the COVID-19 pandemic in Quebec to estimate the impact of school reopenings on parental employment and work hours. We first use a difference-in-differences approach, in which we compare parents of primary-school children in regions where school reopened in May 2020 to similar parents in regions where schools remained closed. We also use a triple-difference model, in which parents of older, secondary-school children are used as an additional control group. We estimate the impact of school reopenings separately for mothers and fathers, and for single parents and parents living in dual-parent households. We find a positive impact of school reopenings on employment and on actual hours worked. The effects tend to be stronger for single parents: single mothers have experienced a 20 percentage point increase in their employment rate following school reopenings. We also split our sample according to whether the job can be done from home, and find stronger impacts for those whose jobs cannot easily be done from home. Our results suggest that reopening schools allows parents, especially single parents, to maintain their employment link and support themselves. |
| Keywords: | school closures, school reopenings, labour market, employment, work hours, pandemic, Canada |
| JEL: | I24 I28 J21 J22 |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:grc:wpaper:20-06&r=all |
| By: | Andrew Bacher-Hicks; Joshua S. Goodman; Christine Mulhern |
| Abstract: | We use high frequency internet search data to study in real time how US households sought out online learning resources as schools closed due to the Covid-19 pandemic. By April 2020, nationwide search intensity for both school- and parent-centered online learning resources had roughly doubled relative to baseline. Areas of the country with higher income, better internet access and fewer rural schools saw substantially larger increases in search intensity. The pandemic will likely widen achievement gaps along these dimensions given schools’ and parents’ differing engagement with online resources to compensate for lost school-based learning time. Accounting for such differences and promoting more equitable access to online learning could improve the effectiveness of education policy responses to the pandemic. The public availability of internet search data allows our analyses to be updated when schools reopen and to be replicated in other countries. |
| Keywords: | online learning, school closures, internet search, Google trends, Covid-19 |
| JEL: | I20 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_8454&r=all |
| By: | Yasenov, Vasil; Hausman, David; Hotard, Michael; Lawrence, Duncan; Siegel, Alexandra Arons (Stanford University); Wolff, Jessica Sadye; Laitin, David; Hainmueller, Jens |
| Abstract: | Immigration legal services providers (ISPs) are a principal source of support for low-income immigrants seeking immigration benefits. Yet there is scant quantitative evidence on the prevalence and geographic distribution of ISPs in the United States. To fill this gap, we construct a comprehensive, nationwide database of 2,138 geocoded ISP offices that offer low- or no-cost legal services to low-income immigrants. We use spatial optimization methods to analyze the geographic network of ISPs and measure ISPs’ proximity to the low-income immigrant population. Because both ISPs and immigrants are highly concentrated in major urban areas, most low-income immigrants live close to an ISP. However, we also find a sizable fraction of low-income immigrants in underserved areas, which are primarily in midsize cities in the South. This reflects both a general skew in non-governmental organization service provision and the more recent arrival of immigrants in these largely Southern destinations. Finally, our opti- mization analysis suggests significant gains from placing new ISPs in underserved areas to maximize the number of low-income immigrants who live near an ISP. Overall, our results provide vital information to immigrants, funders, and policymakers about the current state of the ISP network and opportunities to improve it. |
| Date: | 2020–08–18 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:4j86x&r=all |
| By: | Daniela Costa; Maria Jose Rodriguez |
| Abstract: | This paper provides evidence on migration of workers within the European Union 15 (EU15), disaggregated by occupation. Using the European Labor Force Survey from 1983-2013, we find that in high-educated occupations, EU15 workers move to EU15 countries where their occupation is relatively more abundant among natives. This is at odds with traditional models of migration. We argue that a different framework is more suitable to analyze migration flows across highly educated high-income countries. In particular, we develop a model with external economies of scale that generates agglomeration of highly educated labor. The main implication of the model is that workers of high-educated occupations migrate to countries that are abundant in labor of their same occupation, in accordance with the data. |
| Keywords: | North-North Migration, Occupation, Agglomeration, European Union |
| JEL: | F12 F15 F22 E2 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:bdm:wpaper:2020-07&r=all |
| By: | Hernández Vega Marco A. |
| Abstract: | This work studies the impact of Foreign Direct Investment (FDI) and portfolio flows on house prices of emerging market economies using a static factors panel VARX model. The results show that an increase in both FDI and portfolio flows leads to higher house prices, but that portfolio flows have a more persistent effect. This work also finds that mortgage credit, as proxy of housing demand, is an important variable in house price dynamics in the sense that it has a higher positive impact on house prices than any of the other endogenous variables included. The results are robust to different specifications of the model, such as adding additional lags or changing the order in which the endogenous variables enter the model. |
| Keywords: | Emerging Markets;Capital Flows;House Prices |
| JEL: | C32 E44 F32 G21 |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:bdm:wpaper:2019-19&r=all |
| By: | Holger Graf (Friedrich Schiller University Jena, Faculty of Economics and Business Administration); Matthias Menter (Friedrich Schiller University Jena, Faculty of Economics and Business Administration) |
| Abstract: | The positive effect of public research on industrial innovations is beyond controversy: public research institutions produce knowledge that is subsequently transferred into product and process innovations by private businesses. Besides this rather passive role in commercializing inventions, public research institutions may also proactively exploit new knowledge through public sector entrepreneurship activities. Especially entrepreneurial universities are perceived as a conduit of knowledge spillovers, as they serve as central actors of innovation networks and stimulate network activities. Whereas the linkages between network embeddedness and innovation activities have been largely explored, the impact on patent quality in terms of radicalness, originality and generality remains rather unclear. Considering Germany’s diverse public research infrastructure (universities, polytechnics, and non-university research institutes), our findings reveal that the type of institution and the corresponding scientific orientation (basic vs. applied research) matter for the quality of inventions. Centrality of respective institutions within innovation networks thereby reinforces the radicalness of inventions. However, we do not find support for the general assumption that an entrepreneurial orientation of public sector entities augments the quality of inventions. We conclude the paper with policy recommendations as well as with future avenues of research. |
| Keywords: | patent quality, radical innovation, entrepreneurial university, network embeddedness, centrality |
| JEL: | O31 O32 O34 |
| Date: | 2020–07–19 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2020-011&r=all |
| By: | Newbery, D. |
| Abstract: | Transport policy needs reform. Future Government investment and fiscal policy needs re-orienting to stimulate the economy after the Covid-19 lock-down. Prices used in project appraisal must include all external effects, committing to proper social cost-benefit analysis. In consequence, fuel duty rates need to be more than doubled as a prelude to proper road pricing. Transport investment needs to be increased even with proper road pricing and more allocated to walking and cycling, guided by benefit-cost ratios, following Eddington’s recommendations. The paper gives five reasons for raising fuel duty rates, more on diesel than petrol, and estimates the desired levels. |
| Keywords: | Transport policy, fuel taxes, road pricing, road investment |
| JEL: | D62 H23 R41 R48 |
| Date: | 2020–09–03 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2081&r=all |
| By: | Philipp Ager; Francesco Cinnirella |
| Abstract: | Public educators and philanthropists in the late 19th century United States promoted the establishment of kindergartens in cities as a remedy for the social problems associated with industrialization and immigration. Between 1880 and 1910, more than seven thousand kindergartens opened their doors in the United States, serving both a social and educational function. We use newly collected city-level data on the roll-out of the first kindergartens to evaluate their impact on household outcomes. We find that in cities with a larger kindergarten exposure, families significantly reduced fertility, with the strongest decline appearing in families that were economically disadvantaged and with an immigrant background. Households reduced fertility because kindergarten attendance increased returns to education, but it also led to higher opportunity costs for raising children. Indeed, we show that children exposed to kindergartens were less likely to work during childhood and, instead, stayed longer in school, had more prestigious jobs, and earned higher wages as adults. Finally, we find that exposure to kindergartens particularly helped immigrant children from non-English-speaking countries to gain English proficiency. Their attendance also generated positive language spillover effects on their mothers, illustrating the importance of early childhood education for the integration of immigrant families. |
| Keywords: | kindergarten education, family size, fertility transition, returns to preschool education, quantity-quality trade-off |
| JEL: | N31 J13 I25 O15 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_8504&r=all |
| By: | Santiago Pinto (Federal Reserve Bank of Richmond); Pierre-Daniel G. Sarte (Federal Reserve Bank of Richmond) |
| Abstract: | This chapter describes how two fields that traditionally evolved mostly separately, regional economics and macroeconomics, have increasingly come together over the past decade and a half to yield new insights into the relevance of regional forces for the macroeconomy. This chapter gives an overview to the basic question: why should macroeconomists care about the spatial allocation of economic activity or spatial models? There are no simple spatial aggregation theorems that give rise to an aggregate production function, and this chapter describes the variety of ways in which granular considerations and shocks that are regional in nature shape aggregate outcomes and motivate a need for policy. The macroeconomics literature is increasingly heading in the direction of unpacking the exact nature of granular forces in a way that leaves the representative agent and firm framework with aggregate shocks as an early and poor approximation to how actual economies work. |
| Keywords: | Agglomeration, Externalities, Aggregation, Region, Nation |
| JEL: | R12 R38 R30 R5 E13 |
| Date: | 2020–06–23 |
| URL: | http://d.repec.org/n?u=RePEc:cth:wpaper:gru_2020_014&r=all |
| By: | Arun G. Chandrasekhar; Paul Goldsmith-Pinkham; Matthew O. Jackson; Samuel Thau |
| Abstract: | Regional quarantine policies, in which a portion of a population surrounding infections are locked down, are an important tool to contain disease. However, jurisdictional governments - such as cities, counties, states, and countries - act with minimal coordination across borders. We show that a regional quarantine policy's effectiveness depends upon whether (i) the network of interactions satisfies a balanced-growth condition, (ii) infections have a short delay in detection, and (iii) the government has control over and knowledge of the necessary parts of the network (no leakage of behaviors). As these conditions generally fail to be satisfied, especially when interactions cross borders, we show that substantial improvements are possible if governments are proactive: triggering quarantines in reaction to neighbors' infection rates, in some cases even before infections are detected internally. We also show that even a few lax governments - those that wait for nontrivial internal infection rates before quarantining - impose substantial costs on the whole system. Our results illustrate the importance of understanding contagion across policy borders and offer a starting point in designing proactive policies for decentralized jurisdictions. |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2008.10745&r=all |
| By: | Dimitris Christelis; Dimitris Georgarakos; Tullio Jappelli; Luigi Pistaferri; Maarten van Rooij |
| Abstract: | We measure wealth effects on consumption using a novel research design: responses to direct survey questions asking how much a household would change consumption in response to unexpected (positive and negative) shocks to own home value. The average wealth effect is in the 2-5% range, in line with econometric estimates that associate changes in housing wealth with consumption realizations. However, our analysis uncovers significant heterogeneity. Extensive margin responses are limited: more than 90% of the sample reports no consumption adjustment to wealth shocks. On the other hand, conditioning on adjusting, intensive margin responses are substantial. Finally, the consumption response to positive wealth shocks is greater than the response to negative shocks. |
| Keywords: | Wealth Effect, Housing, Heterogeneity |
| JEL: | D12 D14 E21 |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:gla:glaewp:2020_20&r=all |
| By: | Nisén, Jessica; Klüsener, Sebastian; Dahlberg, Johan; Dommermuth, Lars; Jasilioniene, Aiva; Kreyenfeld, Michaela; Lappegård, Trude; Li, Peng; Martikainen, Pekka; Neels, Karel; Riederer, Bernhard; te Riele, Saskia; Szabó, Laura; Trimarchi, Alessandra; Viciana, Francisco; Wilson, Ben; Myrskylä, Mikko |
| Abstract: | Educational differences in female cohort fertility vary strongly across high-income countries and over time, but knowledge about how educational fertility differentials play out at the sub-national regional level is limited. Examining these sub-national regional patterns might improve our understanding of national patterns, as regionally varying contextual conditions may affect fertility. This study provides for the first time for a large number of European countries a comprehensive account of educational differences in the cohort fertility rate (CFR) at the sub-national regional level. We harmonise data from population registers, censuses, and large-sample surveys for 15 countries to measure women’s completed fertility by educational level and region of residence at the end of the reproductive lifespan. In order to explore associations between educational differences in CFRs and levels of economic development, we link our data to regional GDP per capita. Empirical Bayesian estimation is used to reduce uncertainty in the regional fertility estimates. We document an overall negative gradient between the CFR and level of education, and notable regional variation in the gradient. The steepness of the gradient is inversely related to the economic development level. It is steepest in the least developed regions and close to zero in the most developed regions. This tendency is observed within countries as well as across all regions of all countries. Our findings underline the variability of educational gradients in women’s fertility, suggest that higher levels of development may be associated with less negative gradients, and call for more in-depth sub-national-level fertility analyses by education. |
| Keywords: | cohort fertility; education; empirical Bayesian; Europe; fertility rate; sub-national region; 336475 (COSTPOST) |
| JEL: | J1 |
| Date: | 2020–08–10 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:106201&r=all |
| By: | Boeing, Geoff (Northeastern University) |
| Abstract: | This chapter introduces OpenStreetMap—a crowd-sourced, worldwide mapping project and geospatial data repository—to illustrate its usefulness in quickly and easily analyzing and visualizing planning and design outcomes in the built environment. It demonstrates the OSMnx toolkit for automatically downloading, modeling, analyzing, and visualizing spatial big data from OpenStreetMap. We explore patterns and configurations in street networks and buildings around the world computationally through visualization methods—including figure-ground diagrams and polar histograms—that help compress urban complexity into comprehensible artifacts that reflect the human experience of the built environment. Ubiquitous urban data and computation can open up new urban form analyses from both quantitative and qualitative perspectives. |
| Date: | 2020–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:rnwgv&r=all |
| By: | Fu, Shihe; Viard, Brian; Zhang, Peng |
| Abstract: | The economic costs of trans-boundary pollution spillovers versus local effects is a necessary input in evaluating centralized versus decentralized environmental policies. Directly estimating these for air pollution is difficult because spillovers are high-frequency and vary with distance while economic outcomes are usually measured with low-frequency and local pollution is endogenous. We develop an approach to quantify local versus spillover effects as a flexible function of distance utilizing commonly-available pollution and weather data. To correct for the endogeneity of pollution, it uses a mixed two-stage least squares method that accommodates high-frequency (daily) pollution data and low-frequency (annual) outcome data. This avoids using annual pollution data which generally yields inefficient estimates. We apply the approach to estimate spillovers of particulate matter smaller than 10 micrograms (PM10) on manufacturing labor productivity in China. A one μg/m3 annual increase in PM10 locally reduces the average firm’s annual output by CNY 45,809 while the same increase in a city 50 kilometers away decreases it by CNY 16,248. The spillovers decline quickly to CNY 2,847 at 600 kilometers and then slowly to zero at about 1,000 kilometers. The results suggest the need for supra-provincial environmental policies or Coasian prices quantified under the approach. |
| Keywords: | Air pollution; spillovers; environmental costs and benefits, mixed two-stage least squares; regional coordination |
| JEL: | D62 Q51 Q53 R11 |
| Date: | 2019–08–14 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:102438&r=all |
| By: | Benjamin Davies (Motu Economic and Public Policy Research); David C. Maré (Motu Economic and Public Policy Research) |
| Abstract: | We describe an unsupervised method for delineating functional labour market areas (LMAs) in national commuting networks. Our method uses the Louvain algorithm, which we extend to support top-down hierarchical LMA classification and estimable classification stabilities. We demonstrate our method using historical Census commuting data from New Zealand. |
| Keywords: | community detection; commuting; functional boundaries; labour market areas; networks |
| JEL: | J61 R12 R23 |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:mtu:wpaper:20_08&r=all |
| By: | Francesco Campo (University of Milano Bicocca); Mariapia Mendola (University of Milano Bicocca, IZA, LdA and CefES); Andrea Morrison (ICRIOS-Bocconi University and Utrecht University); Gianmarco Ottaviano (Bocconi University, BAFFI-CAREFIN, IGIER, CEP, CEPR and IZA) |
| Abstract: | A possible unintended but damaging consequence of anti-immigrant rhetoric, and the policies it inspires, is that they may put high-skilled immigrants off more than low-skilled ones at times when countries and businesses intensify their competition for global talent. We investigate this argument following the location choices of thousands of immigrant inventors across US counties during the Age of Mass Migration. To do so we combine a unique USPTO historical patent dataset with Census data and exploit exogenous variation in both immigration flows and diversity induced by former settlements, WWI and the 1920s Immigration Acts. We find that coethnic networks play an important role in attracting immigrant inventors. However, we also find that immigrant diversity acts as an additional significant pull factor. This is mainly due to externalities that foster immigrant inventors’ innovativeness. These findings are relevant for today’s advanced economies that have become major receivers of migrant flows and,in a long-term perspective,have started thinking about immigration in terms of not only level but also composition. |
| URL: | http://d.repec.org/n?u=RePEc:csl:devewp:464&r=all |
| By: | Louis Lippens; Stijn Baert; Pieter-Paul Verhaeghe; Eva Derous (-) |
| Abstract: | Scholars have gone to great lengths to chart the incidence of ethnic labour market discrimination. To effectively mitigate this discrimination, however, we need to understand its underlying mechanisms because different mechanisms lead to different counteracting measures. To this end, we reviewed the recent literature that confronts the seminal theories of taste-based and statistical discrimination against the empirical reality. First, we observed that the measurement operationalisation of the mechanisms varied greatly between studies, necessitating the development of a measurement standard. Second, we found that 20 out of 30 studies examining taste-based discrimination and 18 out of 34 studies assessing statistical discrimination produced supportive evidence for said mechanisms. However, (field) experimental research, which predominantly focuses on hiring outcomes, yielded more evidence in favour of taste-based vis-à-vis statistical discrimination, suggesting that the taste-based mechanism might better explain ethnic discrimination in hiring. |
| Keywords: | taste-based discrimination, statistical discrimination, ethnicity, race, labour market, systematic review |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:rug:rugwps:20/1001&r=all |
| By: | Kevin Kelly; Veronica Severn; Ramya Tallapragada; Matthew Johnson |
| Abstract: | In partnership with the Charles and Lynn Schusterman Family Foundation, Mathematica conducted a study to identify key practices and policies that school districts and charter management organizations can use to effectively improve student achievement. |
| Keywords: | school districts, charter management organizations, education, student achievement, teachers, instructional leadership |
| URL: | http://d.repec.org/n?u=RePEc:mpr:mprres:bcf5643d955040c69324efa28d9f2c47&r=all |
| By: | Christopher F Baum (Boston College; DIW Berlin; CESIS); Miguel Henry (Greylock McKinnon Associates) |
| Abstract: | As the COVID-19 pandemic has progressed in the U.S., “hotspots” have been shifting geographically over time to suburban and rural counties showing a high prevalence of the disease. We analyze daily U.S. county-level variations in COVID-19 confirmed case counts to evaluate the spatial dependence between neighboring counties. We find strong evidence of county-level socioeconomic factors influencing the spatial spread. We show the potential of combining spatial econometric techniques and socioeconomic factors in assessing the spatial effects of COVID-19 among neighboring counties. |
| Date: | 2020–09–11 |
| URL: | http://d.repec.org/n?u=RePEc:boc:usug20:05&r=all |
| By: | Marcos Agurto (Universidad de Piura); Sandra Buzinsky (Universidad de Piura); Siddharth Hari (The World Bank); Valeria Quevedo (Universidad de Piura); Sudipta Sarangi (Virginia Tech); Susana Vegas (Universidad de Piura) |
| Abstract: | Gender disparities in STEM field participation at all levels are wide and persistent. In this paper we explore whether external signals about academic aptitude can influence female participation in STEM fields. We analyze 10 years of data on aptitude tests administered by a private university in Peru taken by 3,000 high school students each year. Prior to the test, students are asked to state their (non-binding) preferences over college majors. Admission into majors is determined on the basis of cut-off scores on the exam, which has a math and a verbal component. Using a regression discontinuity design, we find that among students whose preferred major was other than engineering, making the engineering cut-off increases the likelihood of enrolling in engineering by 10-12 percentage points. These effects are driven entirely by female students, and no effect is seen for males. We also find that women with higher scores on the verbal component are less likely to make this switch, reinforcing the idea that external signals about aptitude matter for choice of college majors. These results highlight the importance of external validation in influencing career choices in a context where social norms discourage female participation in STEM fields, and have important policy implications. |
| Keywords: | STEM, Gender Gap, Academic Aptitude Signals, RD, Peru |
| JEL: | I3 I32 D63 O1 H1 |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:ima:wpaper:2020-008&r=all |
| By: | Guilherme Lichand; Julien Christen |
| Abstract: | The impacts of COVID-19 reach far beyond the hundreds of lives lost to the disease; in particular, the pre-existing learning crisis is expected to be magnified during school shutdown. Despite efforts to put distance learning strategies in place, the threat of student dropouts, especially among adolescents, looms as a major concern. Are interventions to motivate adolescents to stay in school effective amidst the pandemic? Here we show that, in Brazil, nudges via text messages to high-school students, to motivate them to stay engaged with school activities, substantially reduced dropouts during school shutdown, and greatly increased their motivation to go back to school when classes resume. While such nudges had been shown to decrease dropouts during normal times, it is surprising that those impacts replicate in the absence of regular classes because their effects are typically mediated by teachers (whose effort in the classroom changes in response to the nudges). Results show that insights from the science of adolescent psychology can be leveraged to shift developmental trajectories at a critical juncture. They also qualify those insights: effects increase with exposure and gradually fade out once communication stops, providing novel evidence that motivational interventions work by redirecting adolescents' attention. |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2009.04767&r=all |
| By: | Leonardo E. Torre Cepeda; Joana C. Chapa Cantú; Eva Edith González González |
| Abstract: | Based on the World Input-Output Matrix 2016 estimated by Timmer et al. (2016), the Hypothetical Extraction Method is applied in a multi-country context to estimate Mexico's gross output and value added linked to the economic activity of the United States; and then the gross output and value added of the United States linked to Mexico's economic activity. Next, it is shown based on the Ghosh Regional Model how the value added of Mexico linked to the economic activity in the United States is allocated among its sectors and regions. The results capture the strong economic linkage between both economies at the aggregate level, as well as its sectoral concentration. The results also indicate that the Northern and Central regions of Mexico are those with the strongest link to the United States; followed by the Southern region, where the largest share of the oil industry is located. |
| Keywords: | Hypothetical Extraction, Ghosh Input-Output Model, World Input-Output Matrix, Mexico, United States, Economic Integration |
| JEL: | R11 R12 R15 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:bdm:wpaper:2020-06&r=all |
| By: | Hiroyasu Inoue; Yohsuke Murase; Yasuyuki Todo |
| Abstract: | To prevent the spread of COVID-19, many cities, states, and countries have `locked down', restricting economic activities in non-essential sectors. Such lockdowns have substantially shrunk production in most countries. This study examines how the economic effects of lockdowns in different regions interact through supply chains, a network of firms for production, simulating an agent-based model of production on supply-chain data for 1.6 million firms in Japan. We further investigate how the complex network structure affects the interactions of lockdowns, emphasising the role of upstreamness and loops by decomposing supply-chain flows into potential and circular flow components. We find that a region's upstreamness, intensity of loops, and supplier substitutability in supply chains with other regions largely determine the economic effect of the lockdown in the region. In particular, when a region lifts its lockdown, its economic recovery substantially varies depending on whether it lifts lockdown alone or together with another region closely linked through supply chains. These results propose the need for inter-region policy coordination to reduce the economic loss from lockdowns. |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2009.06894&r=all |
| By: | Jihee Ann (Research Division, Korea Real Estate Research Institute, 52 Bangbaero, Seochogu, Seoul, Korea 06705); Cheolbeom Park (Department of Economics, Korea University, 145 Anamro, Seongbukgu, Seoul, Korea 02841) |
| Abstract: | We apply a semiparametric approach to 19 metropolitan areas in the United States (US) to relate normalized house prices to entire age distributions in each area. We find that the shape of estimated age response functions differs across areas, although most areas show a negative impact of the elderly population on house prices. We further find that the age response function is more likely to be hump shaped when the population of an area becomes more aged, which also implies a negative aging impact. These results indicate that the impact of the elderly population will be negative as the population of an economy progresses toward becoming more aged. |
| Keywords: | Demographic structure, Population aging, House prices, Semiparametric approach |
| JEL: | G12 J11 R30 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:iek:wpaper:2005&r=all |
| By: | José Pedro Pontes; Armando J. Garcia Pires |
| Abstract: | In the Von Thunen (1826)'s economy, manufacturing decentralization is viewed as the refining of an agricultural commodity near the cultivation site, which substitutes for its transport to an industrial mill located in the Town. As Friedrich List (1841) added, this substitution is economically feasible only if the savings in transport costs following from in site refining cover the increase in fixed costs associated with a second industrial plant. In market equilibrium terms, this happens when the decentralized machine is provided collectively by the landowners, who fund it through the proceeds of the rise in total land rent following from the industrial investment. This condition will be satisfied more likely in a large economy with high average transport costs and where manufacturing specializes in relatively weight losing activities. If industrial decentralization is feasible, then the new factories will prefer to locate outside the Town, in formely rural areas endowed with an intermediate degree of centrality. Their distance to the Town will be directly related with the intensity of input refining that they are able to carry out. This model appears to account for main stylized trends of manufacturing relocation nowadays, which are jointly labeled as "(de)industrialization". |
| Keywords: | Von Thunen, Manufacturing Location, Industrialization, External Economies of Scale |
| JEL: | O12 O14 R12 B20 |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:ise:remwps:wp01422020&r=all |
| By: | Sergio Currarini (University of Leicester); Francesco Feri (Royal Holloway, University of London and Università di Trieste); Bjoern Hartig (Royal Hollloway, University of London); Miguel A. Meléndez-Jiménez (University of Málaga) |
| Abstract: | We design an experiment to study how agents make use of information in networks. Agents receive payoff-relevant signals automatically shared with neighbors. We compare the use of information in different network structures, considering games in which strategies are substitute, complement and orthogonal. To study the incentives to share information across games, we also allow subjects to modify the network before playing the game. We find behavioral deviations from the theoretical prediction in the use of information, which depend on the network structure, the position in the network and the strategic nature of the game. There is also a bias toward oversharing information, which is related to risk aversion and the position in the network. |
| Keywords: | networks, experiment, information sharing, strategic complements, strategic substitutes, pairwise stability |
| JEL: | C72 C91 C92 D82 D85 |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:mal:wpaper:2020-6&r=all |
| By: | Clément Kouadio Kouakou (Department of Economics Centre Ivoirien de Recherches Economiques et Sociales (CIRES) University of Cocody-Abidjan, Côte d’Ivoire) |
| Abstract: | This study analyses the challenges of creating employment for the urban youth in Côte d’Ivoire and the government’s policies in this respect. The study is essentially about identifying the determinants of job creation for the youth and to assess government policies aimed at guaranteeing access to employment by the youth. The study used secondary and primary data. The secondary data were obtained mainly from household surveys carried out in 1993, 1995, 1998 and 2002. A study on the integration of young people into the world of work was then conducted to assess government policies on this matter. The results of this survey indicate a predominance of social capital over human capital in the process of integrating young people into employment, a state of affairs that led to unequal opportunities for the youth in the job market. Measures aimed at ensuring equal opportunities were then taken by the government. Despite the fact that these measures did not necessarily target the right beneficiaries, they produced a positive effect in terms of access to employment and improvement in working conditions. Consequently, much still needs to be done to enhance the effectiveness of these measures. What essentially needs to be done is to set strict selection criteria targeting the most disadvantaged populations. |
| URL: | http://d.repec.org/n?u=RePEc:aer:wpaper:240&r=all |
| By: | Dumas, Christelle; Játiva, Ximena (Faculty of Economics and Social Sciences) |
| Abstract: | Spatial isolation is considered as one of the main determinants of poverty. Therefore, many transport investments are undertaken with a stated objective of poverty reduction. In our paper, we evaluate a Tanzanian program that rehabilitated 2500km of major roads between 2008 and 2013. We deal with endogenous placement issues with a household fixed-effect strategy combined with a propensity score matching. Contrary to most studies, we find damaging effects of the road on the rural population: the price of the main product (rice) decreases, they reduce rice production and reallocate labor away from farm but opportunities of o_-farm work are scarce. This results in depressed wages and households declare a lower satisfaction. This is consistent with a situation where rural households face an increased competition due to lower transportation costs. |
| Keywords: | Roads; Poverty; Rural households; Africa |
| JEL: | O12 O13 J43 O15 O18 |
| Date: | 2020–09–16 |
| URL: | http://d.repec.org/n?u=RePEc:fri:fribow:fribow00518&r=all |
| By: | Alexandra Belova (ECOPSY Consulting); Philippe Gagnepain (PSE - Paris School of Economics, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Stéphane Gauthier (PSE - Paris School of Economics, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, Institute for Fiscal Studies) |
| Abstract: | We study competition in the U.S. airline industry relaxing the Nash equilibrium assumption that airlines are able to predict perfectly the behavior of their competitors. We assess empirically whether an equilibrium is more likely to occur if it is the unique rationalizable outcome. We find that equilibria of short distance routes with high traffic and low concentration are the most fragile, and low-cost companies appear detrimental to their occurrence. Our analysis is applied to the measurement of welfare gains from firms' entry, and to the characterization of the relevant market when some products are unobserved. |
| Keywords: | Rationalizability,Nash equilibrium,Cournot competition,structural model,airline industry,welfare analysis,relevant market |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-02932780&r=all |
| By: | Temel, Tugrul |
| Abstract: | On the conceptual account, this paper develops a methodology to identify input-output (IO)layers of a targeted sector, drawing on backward and forward multipliers of an IO matrix. On the implementation account, the methodology is applied to a sample of eight countries - China, Japan, India, Russia, Germany, Turkey, UK and USA, which together account for about 60 percent of the world GDP - with a view to characterizing the backward and forward linkages of manufacturing, real estate, wholesale, and accommodation sectors identified by ILO (2020) as key sectors likely to suffer from the highest level of youth unemployment due to the COVID-19 pandemic. New information is generated for the design of informed employment policy interventions to avoid the unemployment projected. The findings show that manufacturing sector, MA2, is vital for all the countries examined, followed by EST and WHS, and that these three sectors need to be coupled with at least one other sectors to capture the external employment effects from the interacting communities (or clusters). |
| Keywords: | COVID-19; input-output network analysis; employment policy design; China, Japan, Russia, India, Germany, UK, Turkey, USA; |
| JEL: | E61 F6 F62 O2 O5 O57 |
| Date: | 2020–08–13 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:102402&r=all |
| By: | Young, Mischa; Farber, Steven |
| Abstract: | We examine the wait-time of Uber’s wheelchair accessible service (UberWAV) in Toronto, to determine whether it meets the City’s 11-minutes average wait-time requirement. Using a 12-million record dataset of every ride-hailing trip conducted in Toronto between September 2016 and March 2017, we show that wait-times for UberWAV services were, on average, longer during rush hour periods and for trips further away from downtown. Despite this, we find that UberWAV services met the average wait-time requirement imposed by the City and believe that by offering shorter wait-times than previously available, this service significantly improves the mobility of people who require accessible transport services. |
| Date: | 2020–08–17 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:z9a4h&r=all |
| By: | Keisuke Kokubun |
| Abstract: | Regional promotion and centralized correction in Tokyo have long been the goals of the Government of Japan. Furthermore, in the wake of the recent new coronavirus (COVID-19) epidemic, the momentum for rural migration is increasing, to prevent the risk of infection with the help of penetration of remote work. However, there is not enough debate about what kind of land will attract the population. Therefore, in this paper, we will consider this problem by performing correlation analysis and multiple regression analysis with the inflow rate and the excess inflow rate of the population as the dependent variables, using recent government statistics for each prefecture. As a result of the analysis, in addition to economic factor variables, variables of climatic, amenity, and human factors correlated with the inflow rate, and it was shown that the model has the greatest explanatory power when multiple factors were used in addition to specific factors. Therefore, local prefectures are required to take regional promotion measures focusing on not only economic factors but also multifaceted factors to attract the outside population. |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2009.07144&r=all |
| By: | Maarten de Ridder; Simona Hannon; Damjan Pfajfar |
| Abstract: | This paper examines the short-run effects of federal education expenditures on local income. We exploit city-level variation in exposure to national changes in the $30-billion Federal Pell Grant Program, which is the largest program to help low-income students attend college in the U.S., to calculate fiscal multipliers of education expenditures. An increase in Pell grants by 1 percent of a city's income raises local income by 2.4 percent over the next two years. This multiplier effect is larger than estimates for military spending (1.5 on average). Multipliers are higher when grants are awarded to students at non-profit colleges, as for-profit colleges absorb most of the grant increases with raises in tuition. Multipliers are also higher during recessions than in expansions: Pell grants can be an effective tool for countercyclical policy that adds to already established benefits, such as, increasing the affordability of college and fostering long-run economic growth. |
| Keywords: | Fiscal expenditure; Pell grants; Education policy; Fiscal multipliers |
| JEL: | H52 H62 |
| Date: | 2020–08–07 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedgfe:2020-58&r=all |
| By: | Shi, Ruoding; You, Wen; Ji, Xinde; Ahn, Jae-Wan |
| Keywords: | Food Consumption/Nutrition/Food Safety, Agricultural and Food Policy, Resource/Energy Economics and Policy |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea20:304190&r=all |
| By: | Johnson, Helen; Mcnally, Sandra; Rolfe, Heather; Ruiz-Valenzuela, Jenifer; Savage, Robert; Vousden, Janet; Wood, Clare |
| Abstract: | Many students still leave school without a good grasp of basic literacy, despite the negative implications for future educational and labour market outcomes. We evaluate how resources may be used within classrooms to reinforce the teaching of literacy. Specifically, teaching assistants are trained to deliver a tightly structured package of materials to groups of young children aged 5-6. The training is randomly allocated between and within schools. Within schools, teaching assistants are randomly assigned to receive training in either computer-aided instruction or the paper equivalent. Both interventions have a short-term impact on children’s reading scores, although the effect is bigger for the paper intervention and more enduring in the subsequent year. This paper shows how teaching assistants can be used to better effect within schools, and at a low cost. |
| Keywords: | literacy; ICT; teaching assistants; Centre for Economic Performance; ES/S000097/1 |
| JEL: | I21 |
| Date: | 2019–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:100136&r=all |
| By: | Hao Wang; Yonghui Han; Jan Fidrmuc; Dongming Wei |
| Abstract: | In this paper, we study the role of Confucius Institute in supporting internationalization of Chinese enterprises. Employing a panel dataset containing 66 Belt-Road countries and 75 non Belt-Road countries from 2006 to 2017, we find that the Confucius Institute has had a positive effect on Chinese CMA in general and that this effect has become stronger in Belt-Road countries after the Belt and Road Initiative was launched in 2013. Our results suggest that the earlier the host country joins the Belt and Road Initiative, the stronger is the interactive effect of CI and Belt and Road Initiative. Moreover, we show that the Confucius Classroom, a related program, also positively affects Chinese CMA in the context of the Belt and Road Initiative. These findings are robust to controlling for endogeneity and sample selection biases. |
| Keywords: | cultural institute, institutions, cultural distance, Belt and Road Initiative, Confucius Institute, cross-border mergers and acquisitions |
| JEL: | F23 Z10 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_8467&r=all |
| By: | Hande Inanc; Megan McIntyre |
| Abstract: | The COVID-19 pandemic triggered a stark rise in youth unemployment across the nation. |
| Keywords: | Youth Unemployment, COVID-19, Metro Areas |
| URL: | http://d.repec.org/n?u=RePEc:mpr:mprres:97e407f01a96468fb0ae483a0e4797ce&r=all |
| By: | Huang, Kuan-Ming; Etienne, Xiaoli L. |
| Keywords: | Resource/Energy Economics and Policy, Research Methods/Statistical Methods, Community/Rural/Urban Development |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea20:304435&r=all |
| By: | Scanlon, Kathleen; Williams, Peter; Blanc, Fanny |
| Abstract: | At the invitation of the University New South Wales and NSW Landcom, LSE London carried out this study of the build to rent (BTR) sector in London, to help inform policy for the emerging market in Australia. The housing and rental markets in the UK and Australia share many features but London is about five years ahead of any Australian city in terms of BTR, and is therefore a natural comparator. In our research, which took place in the first half of 2018, we collected the latest statistics about BTR in London, reviewed recent publications, and interviewed 17 informed stakeholders. We also did a small survey of tenants, and conducted case studies of two recent BTR schemes. |
| Keywords: | build to rent; private rented sector; stakeholders; policy; markets |
| JEL: | Q15 |
| Date: | 2018–11 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:106241&r=all |
| By: | LUO Chenghong, (CORE, UCLouvain and Ca’Foscoari University); MAULEON Ana, (Université Saint Louis, Bruxelles); VANNETELBOSCH Vincent, (CORE, UCLouvain) |
| Abstract: | We reconsider die Marti and Zenou (2017) model of friendship network formation where individuals belong to two different communities. Benefits from direct and indirect connections decay with distance while costs of forming links depend on community memberships. Individuals are now either farsighted or myopic when deciding about the friendship links they want to form. When all individuals are myopic many inefficient friendship networks (e.g. complete segregation) can arise. When the larger (smaller) community is farsighted while the smaller (larger) community is myopic, the friendsip network where the myopic community is assimilated into the farsighted community is the unique stable network when inter-community costs are large. In fact, farsightedness helps the society to avoid ending up segregated. Once inter-community costs are small enough, the coplete integration network become stable. Finally, when all individuals are farsighted, the friendship network where the smaller community ends up being assimilated into the dominant community is likely to arise. |
| Keywords: | friendship networks; stable sets; myopic and farsighted players; assimilation; segregation |
| JEL: | A14 C70 D20 |
| Date: | 2020–02–11 |
| URL: | http://d.repec.org/n?u=RePEc:cor:louvco:2020017&r=all |