nep-ure New Economics Papers
on Urban and Real Estate Economics
Issue of 2022‒09‒12
58 papers chosen by
Steve Ross
University of Connecticut

  1. Place-based Land Policy and Spatial Misallocation: Theory and Evidence from China By Min Fang; Libin Han; Zibin Huang; Ming Lu; Li Zhang
  2. The spatial determinants of innovation diffusion: Evidence from global shipping networks By César Ducruet; Hidekazu Itoh
  3. How to Increase Housing A ordability? Understanding Local Deterrents to Building Multifamily Housing By Kulka. Amrita; Sood, Aradhya; Chiumenti, Nicholas
  4. The division of spoils in a booming industry By Popov, Alexander
  5. Minimum Wage as a Place-Based Policy: Evidence from US Housing Rental Markets By Gabriele Borg; Diego Gentile Passaro; Santiago Hermo
  6. Flow of Ideas : Economic Societies and the Rise of Useful Knowledge By Cinnirella, Francesco; Hornung, Eric; Koschnick, Julius
  7. No Place like Home: Place-Based Attachments and Regional Science By Winters, John V.
  8. The mutual specialization of port and urban functions: The case of France By Mounir Amdaoud; César Ducruet; Marc‐antoine Faure
  9. Wheels of Change: Transforming Girls' Lives with Bicycles By Nathan Fiala; Ana Garcia-Hernandez; Kritika Narula; Nishith Prakash
  10. Macroprudential policy and the role of institutional investors in housing markets By Muñoz, Manuel A.; Smets, Frank
  11. Beyond lost earnings: The long-term impact of jobdisplacement on workers' commuting behavior By Duan, Yige; Jost, Oskar; Jost, Ramona
  12. The regional development trap in Europe By Diemer, Andreas; Iammarino, Simona; Rodríguez-Pose, Andrés; Storper, Michael
  13. Labor Misallocation Across Firms and Regions By Sebastian Heise; Tommaso Porzio
  14. Regulation and Frontier Housing Supply By Dan Ben-Moshe; David Genesove
  15. Impact of Population Ageing on Japan's Inter-Prefectural Migration: A Spatial Econometrics Analysis By SIMON CONSALVO
  16. Good peers, good apples? Peer effects in portfolio quality By Balakina, Olga; Bäckman, Claes; Hackethal, Andreas; Hanspal, Tobin; Lammer, Dominique Marcel
  17. Place-Based Policies and the location of economic activity:evidence from the Italian Strategy for Inner areas By Gianluca Monturano; Giuliano Resce; Marco Ventura
  18. Regional deprivation and populism: Evidence from Germany and the U.S. By Bayerlein, Michael
  19. Loan Modifications and the Commercial Real Estate Market By David P. Glancy; Robert J. Kurtzman; Lara Loewenstein
  20. Recurrent property taxes and house price risks By O'Brien, Martin; Staunton, David; Wosser, Michael
  21. Will the last be the first? School closures and educational outcomes By Michele Battisti; Giuseppe Maggio
  22. University proximity at teenage years and educational attainment By Oussama Ben Atta
  23. The German Local Population Database (GPOP), 1871 to 2019 By Felix Roesel
  24. Much ado about nothing? School Curriculum Reforms and Students' Educational Trajectories By Maurizio Strazzeri; Chantal Oggenfuss; Stefan C. Wolter
  25. Hot Spots, Patrolling Intensity, and Robberies: Lessons from a three-year program in Uruguay By Cabrera, José María; Cid, Alejandro; Veneri, Federico
  26. Is Finance Good for Growth? New Evidence from China By Jingzhu Chen; Yuemei Ji
  27. College openings and local economic development By Berlingieri, Francesco; Gathmann, Christina; Quinckhardt, Matthias
  28. Refinancing Inertia in the Irish Mortgage Market By Devine, Kenneth
  29. Modeling the altrustic policy for local development with data envelopment analysis By Kamga Kamga, Chrysleine Chantale; Tchouassi, Gérard; Essombe Edimo Nya Bonabébé, Jean - Roger
  30. Bootstrapping Science? The Impact of a “Return Human Capital†Programme on Chinese Research Productivity By Ash, Elliott; Cai, David; Draca, Mirko; Liu, Shaoyu
  31. Violence and migration: The role of police killings in the Venezuelan diaspora By Carlo Caporali
  33. Are Immigrants More Left-Leaning than Natives? By Simone Moriconi; Giovanni Peri; Riccardo Turati
  34. Modeling the impact of transportation on urban segregation and unemployment By Nicolas Juste; Moez Kilani
  35. A consumer surplus, welfare and profit enhancing strategy for improving urban transport networks By Jolian McHardy; Michael Reynolds; Stephen Trotter
  36. Connected Freight Parking in Smart City Logistics By Yu Liu; Shenle Pan; Pauline Folz; Fano Ramparany; Sébastien Bolle; Eric Ballot; Thierry Coupaye
  37. Preparing Young Children for School By Margaret Burchinal; Sarah Krowka; Rebecca Newman-Gonchar; Madhavi Jayanthi; Russell Gersten; Samantha Wavell; Julia Lyskawa; Kelly Haymond; Karen Bierman; Jorge Gonzalez; Megan McClelland; Kimberly Nelson; Jill Pentimonti; David Purpura; Jason Sachs; Julie Sarama; Elizabeth Schlesinger-Devlin; Julie Washington; Emily Rosen
  38. Understanding urban logistics and consumer behavior in São Paulo city By Vidal Vieira, José Geraldo; Ramirez Navarro, Hector Angel; Fransoo, Jan C.
  39. Planning ride-sharing services with detour restrictions for spatially heterogeneous demand: A multi-zone queuing network approach By Yining Liu; Yanfeng Ouyang
  40. Simulating Life with Personally-Owned Autonomous Vehicles through a Naturalistic Experiment with Personal Drivers By Harb, Mustapha PhD; Malik, Jai PhD; Circella, Giovanni PhD; Walker, Joan L. PhD
  41. The Community Explorer How to Inform Effectively Policy on U.S. Diversity with County Level Data By Lopez, Claude; Roh, Hyeongyul; Switek, Maggie
  42. The Heterogeneous Impact of Temperature Growth on Real House Price Returns across the US States By Renee van Eyden; Geoffrey Ngene; Oguzhan Cepni; Rangan Gupta
  43. Does State-Mandated Financial Education Reduce High School Graduation Rates? By Urban, Carly
  44. Persecution, Pogroms and Genocide: A Conceptual Framework and New Evidence By Sascha O. Becker; Sharun Mukand; Ivan Yotzov
  45. Simulating Life with Personally-Owned Autonomous Vehicles through a Naturalistic Experiment with Personal Drivers By Harb, Mustapha PhD; Malik, Jai PhD; Circella, Giovanni PhD; Walker, Joan L. PhD
  46. Historically Low Delinquency Rates Coming to an End By Andrew F. Haughwout; Donghoon Lee; Daniel Mangrum; Joelle Scally; Wilbert Van der Klaauw
  47. In the Grip of Whitehall? The Effects of Party Control on Local Fiscal Policy in the UK By Lockwood, Benjamin; Porcelli, Francesco; Rockey, James
  48. Migration policy and labor market integration By Kerstin Mitterbacher; Jürgen Fleiß; Stefan Palan
  49. Understanding the Spatial Relationship Between the Informal Labor Market and Violent Crime in Cali, Colombia By Magaly Faride Herrera Giraldo; Carlos Giovanni González Espitia
  50. Measuring Universality in Social Protection: A pilot study of housing support benefits By AIDUKAITĖ Jolanta; UBAREVIČIENĖ Rūta
  52. Early Childcare Duration and Students' Later Outcomes in Europe By Daniela Del Boca; Chiara Monfardini; Sarah Grace See
  53. COVID-19 pandemic: Lessons for spatial development By Adli, Mazda; Baumgart, Sabine; Beckmann, Klaus J.; Brenner, János; Bolte, Gabriele; Gärtner, Stefan; Hartz, Andrea; Havekost, Carola; Henckel, Dietrich; Köckler, Heike; Kramer, Caroline; Krätzig, Sebastian; Matthes, Gesa; Völker, Sebastian; Winter, Ralf
  54. Multinominal choice with social interactions: occupations in Victorian London By Guerra, José Alberto; Mohnen, Myra
  55. Policy Uncertainty and Inventor Mobility By Jordan Bisset; Dirk Czarnitzki; Thorsten Doherr
  56. The territorial gaps in the access of Italian firms to credit By Carlo Bottoni; Michele Cascarano; Iconio Garrí; Litterio Mirenda; Paolo Emilio Mistrulli; Dalia Maria Pizzillo; Davide Revelli; Tiziano Ropele
  57. Brexit and the Fintech Revolution in Europe - Lessons from the Bulgarian Digital Finance Cluster By Deyan Radev; Georgi Penev
  58. Closing the gender STEM gap. A large-scale randomized-controlled trial in elementary schools By Grosch, Kerstin; Haeckl, Simone; Kocher , Martin G.

  1. By: Min Fang; Libin Han; Zibin Huang; Ming Lu; Li Zhang
    Abstract: Place-based land policies may create spatial misallocation. We investigate a major policy in China that aims to reduce regional development gaps by distributing more urban construction land quotas to underdeveloped inland regions. We first show causal evidence that this policy decreased firm-level TFP in more developed eastern regions relative to inland regions. We then build a spatial equilibrium model with migration, land constraints, and agglomeration. The model reveals that this policy led to substantial losses in national TFP and output. It shrinks regional output gap but lowers incomes of workers from underdeveloped regions by hindering their migration to developed regions.
    Keywords: Place-based Policy; Land Policy; Spatial Misallocation; Regional Inequality; China;
    JEL: O18 R58 E24 J61 R52
    Date: 2022–08–22
  2. By: César Ducruet (EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique); Hidekazu Itoh (Kwansei Gakuin University)
    Abstract: Based on untapped shipping and urban data, this article compares the diffusion of steam and container shipping at the port city level and at the global scale between 1880 and 2008. A temporal and multi-layered network is constructed, including the pre-existing technologies of sailing and breakbulk. The goal is to check the differences a) between innovations and their predecessors and b) between innovations, from an urban network perspective. Main results show that despite certain differences, such as historical context, voyage length, speed of diffusion, and geographical spread, the two innovations share a large quantity of similarities. They both fostered port concentration, were boosted by city size and port connectivity, bypassed upstream port sites, and diverged gradually from older technologies. This research thus contributes to the literature on cities, networks, innovation, and maritime transport.
    Keywords: Containerization,Maritime transport,Port cities,Regional disparity,Spatial networks,Steam shipping,Technological change
    Date: 2022
  3. By: Kulka. Amrita (University of Warwick); Sood, Aradhya (University of Toronto); Chiumenti, Nicholas (FRB Boston)
    Abstract: This paper studies how various land-use regulations interact to affect housing supply and affordability. We use cross-sectional variation across space from a novel parcel-level zoning data and a boundary discontinuity design at regulation boundaries to obtain causal estimates for the effect of various zoning regulations on the supply of different types of housing, single-family house prices, multifamily rents, and households’ willingness-to-pay for higher density. We find that relaxing density restrictions (minimum lot size and maximum dwelling units), either alone or jointly with relaxing other regulations, is most effective at increasing supply, particularly of multifamily properties, and reducing rents and house prices. Conversely, enabling multifamily zoning or relaxing height regulations alone has little impact. Our results suggest that the small-scale reforms in zoning regulations proposed around the country can increase housing affordability. However, a fall in multifamily rents is often accompanied by a reduction in single-family house prices, complicating the political economy of land-use reform.
    Keywords: multifamily zoning ; height restrictions ; density ; house prices ; rents JEL Codes: R21 ; R31 ; R58 ; H77 ; H11 ; K25
    Date: 2022
  4. By: Popov, Alexander
    Abstract: Between 2000 and 2007, the gender gap in earnings in the US real estate sector increased, especially in local markets where house prices appreciated relatively more. Firm frictions and the presence of small children in the household do not explain the widening of the gender gap, while sorting on entry and gender identity in relative income do. First, the industry attracted relatively more females with no prior experience, especially in booming local housing markets. Second, labor supply increased relatively more for experienced males with at least some college education who earn less than their spouses. JEL Classification: J16, L85, O18
    Keywords: gender earnings gap, housing booms, real estate
    Date: 2022–08
  5. By: Gabriele Borg; Diego Gentile Passaro; Santiago Hermo
    Abstract: The recent rise of sub-national minimum wage (MW) policies in the US has resulted in significant dispersion of MW levels within metropolitan areas. In this paper, we study the effect of MW changes on local housing rental markets exploiting the placed-based nature of MW policies. For each location we define both the log MW where the average resident works (the "workplace MW") and the log MW in the location itself (the "residence MW"). We derive a partial-equilibrium model of a housing market in which MW levels in each location affect housing demand by changing the income of commuters and the prices of non-tradable consumption. The model shows that the workplace MW has a positive effect on rents whereas the residence MW has a negative effect. We construct a ZIP code by month panel using rents data from Zillow, and use a difference-in-differences design to estimate the effect of residence and workplace MW changes on median housing rents. Our baseline results imply that a 10 percent increase in the workplace MW and no change in the residence MW will increase rents by 0.69 percent (SE=0.29). If the residence MW also increases by 10 percent, then rents will increase by 0.47 percent (SE=0.16). We use our results to study the incidence of two counterfactual MW policies: a federal MW increase and a city MW increase. We estimate that landlords pocket 9.2 and 11.0 cents for every dollar increase in worker income in areas affected by these policies. However, the incidence varies systematically across space.
    Date: 2022–08
  6. By: Cinnirella, Francesco (University of Bergamo); Hornung, Eric (University of Cologne); Koschnick, Julius (London School of Economics)
    Abstract: Economic societies emerged during the late eighteenth-century. We argue that these institutions reduced the costs of accessing useful knowledge by adopting, producing, and diffusing new ideas. Combining location information for the universe of 3,300 members across active economic societies in Germany with those of patent holders and World’s Fair exhibitors, we show that regions with more members were more innovative in the late nineteenth-century. This long-lasting effect of societies arguably arose through agglomeration economies and localized knowledge spillovers. To support this claim, we provide evidence suggesting an immediate increase in manufacturing, an earlier establishment of vocational schools, and a higher density of highly skilled mechanical workers by mid-nineteenth century in regions with more members. We also show that regions with members from the same society had higher similarity in patenting, suggesting that social networks facilitated spatial knowledge diffusion and, to some extent, shaped the geography of innovation
    Keywords: Economic Societies ; Useful Knowledge ; Knowledge Diffusion ; Innovation ; Social Networks JEL Classification: N33 ; O33 ; O31 ; O43
    Date: 2022
  7. By: Winters, John V. (Iowa State University)
    Abstract: Place-based attachments are important but often overlooked. Place-based attachments can be beneficial but often harm individuals tied to struggling areas. In this address, I discuss my own education and migration experiences and then more generally discuss sense of belonging as a friction to migration. I also present descriptive statistics related to place-based attachments. Most persons born in the U.S. live in their birth state as adults. Birth-state residence has increased over time, especially among the highly educated. I also present evidence that college graduates who reside in their birth state experience a wage penalty that is increasing over time.
    Keywords: location, place, regions, migration frictions, policy
    JEL: R10 R23 J61
    Date: 2022–07
  8. By: Mounir Amdaoud (EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique); César Ducruet (EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique); Marc‐antoine Faure (EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)
    Abstract: This research examines the similarities between port traffic structure and economic structure of French port cities. Based on the combination of Automated Identification System (AIS) data and employment data, it performs complementary analyses of the mutual specialization between ports and cities. Main results show that while larger cities handle more diversified traffic, the cross-specialization is blurred by the complexity of trade networks and supply chains. We then propose a novel methodology whereby the spatial unit of analysis is enlarged according to the type and volume of port traffic.
    Keywords: hinterland,maritime transport,port city,specialization,supply chain
    Date: 2022
  9. By: Nathan Fiala; Ana Garcia-Hernandez; Kritika Narula; Nishith Prakash
    Abstract: Reducing the gender gap in education is a primary goal for many countries. Some major challenges for many girls include the distance to school, their safety when commuting to school, lack of agency, and deep-rooted cultural norms. In Zambia, we studied the impact of providing a bicycle to a school-going girl who lives more than 3 km from the school. We randomized whether a girl received a bicycle with a small cost to her family to cover replacement parts, a bicycle where these costs are covered by the program, and therefore is zero cost to the family, or a control group. One year after the intervention, we find that the bicycle reduced average commuting time to school by 35%, reduced late arrival by 66%, and decreased absenteeism by 27%. We find continued improvement in girls’ attendance and reduction in dropouts two, three, and four years after the intervention. We also find evidence of improved math test scores, girls expressing higher feelings of control over their lives and, for those who received bicycles with a small cost to her family, higher levels of aspirations, self-image, and a desire to delay marriage and pregnancy. Heterogeneity analysis by distance to school shows an inverted U-shape for most of the schooling and empowerment results, suggesting greater impact for girls that live further away from school. These results suggest that empowerment outcomes worked through increased attendance in school.
    Keywords: bicycles, commute time, girls’ education, female empowerment, safety, Zambia
    JEL: H42 I21 I25 J16 O15
    Date: 2022
  10. By: Muñoz, Manuel A.; Smets, Frank
    Abstract: Since the onset of the Global Financial Crisis, the presence of institutional investors in housing markets has steadily increased over time. Real estate funds (REIFs) and other housing investment •rms leverage large-scale buy-to-rent real estate investments that enable them to set prices in rental markets. A significant fraction of this funding is being provided in the form of non-bank lending - which is not subject to regulatory LTV ratios - and REIFs are generally not constrained by leverage limits. We develop a quantitative DSGE model that incorporates the main features of the REIF industry and identify leakages of existing macroprudential policy: (i) already existing countercyclical LTV rules on residential mortgages trigger a credit reallocation towards the REIF sector that can amplify financial and business cycles; while (ii) "non-existent" countercyclical LTV rules on lending to REIFs are particularly effective in taming such cycles. Due to the different mechanisms through which they operate, both types of LTV rules complement each other and jointly yield larger welfare gains (for savers and borrowers) than in isolation. JEL Classification: E44, G23, G28
    Keywords: leakages, leverage, loan-to-value ratios, real estate funds, rental housing
    Date: 2022–08
  11. By: Duan, Yige; Jost, Oskar; Jost, Ramona
    Abstract: We study the long-term impact of job displacement on workers' commuting behavior. Our measures of commuting exploit geo-coordinates of workers' places of residence and places of work, from which we calculate the door-to-door commuting distance and commuting time. Using German employee-employer matched data and an event study design, we identify the causal effect of job loss on workers displaced during a mass layoff. Conditional on finding a new job, workers' commuting distance and commuting time rise sharply after displacement and gradually decline in subsequent years. The recovery is due to employer changes rather than migration, and a larger increase in commuting would mitigate the wage loss due to job displacement. To rationalize our findings, we build an on-the-job search model with heterogeneous firm productivity and commuting distances. Our model predicts a joint recovery of wages and commuting despite a static tradeoff between the two attributes.
    Keywords: commuting,mobility,displacement,job search
    JEL: J3 J6 R23 R41
    Date: 2022
  12. By: Diemer, Andreas; Iammarino, Simona; Rodríguez-Pose, Andrés; Storper, Michael
    Abstract: The concept of regional development trap refers to regions that face significant structural challenges in retrieving past dynamism or improving prosperity for their residents. This article introduces and measures the concept of the regional development trap for regions in Europe. The concept draws inspiration from the middle-income trap in international development theory but widens it to shed light on traps in higher-income countries and at the regional scale. We propose indicators—involving the economic, productivity, and employment performance of regions relative to themselves in the immediate past, and to other regions in their respective countries and elsewhere in Europe—to identify regions either in a development trap or at significant near-term risk of falling into it. Regions facing development traps generate economic, social, and political risks at the national scale but also for Europe as a whole.
    Keywords: development trap; middle-income; economic growth; employment; productivity; regions; Europe; 0000-0002-5193-7739; 0000-0002-8354-792X and 2018CE16BAT055; T&F deal
    JEL: J1
    Date: 2022–07–14
  13. By: Sebastian Heise; Tommaso Porzio
    Abstract: We develop a frictional labor market model with multiple regions and heterogeneous firms to study how frictions impeding labor mobility across space affect the joint allocation of labor across firms and regions. Bringing the model to matched employer-employee data from Germany, we find that spatial frictions generate large misallocation of labor across firms within regions. By shielding firms from competition for workers from other regions, spatial frictions allow low productivity firms to expand, reducing aggregate productivity. Overall, we show that taking into account the characteristics of the local labor market is important to quantify the aggregate losses from spatial frictions.
    JEL: J6 O1 R1
    Date: 2022–07
  14. By: Dan Ben-Moshe; David Genesove
    Abstract: Regulation is a major driver of housing supply, yet often not easily observed. Using only apartment prices and building heights, we estimate $\textit{frontier costs}$, defined as housing production costs absent regulation. We achieve identification using conditions on the support of supply (i.e., regulatory) and demand shocks without recourse to instrumental variables. In an application to new Israeli residential construction, we find about $45\%$ of housing price ascribable to regulation, with higher rates in areas that are higher priced, denser, and closer to city centers. We also find economies of scale in frontier costs at low building heights. This estimation takes into account measurement error, which includes random unobserved structural quality. When allowing unobserved structural quality to vary with amenities (i.e., locational quality), and assuming their weak complementarity locally (i.e., the return in price on structural quality is non-decreasing in amenities among nearby buildings), we bound average regulation by about $25\%$ of prices.
    Date: 2022–08
    Abstract: This paper examines the impact that the decline in the Japanese population has had on its interprefectural migration flows over the last 15 years. The early 2000s saw the number of internal migrants consistently decrease, reaching all-time low records in both intra and inter-prefectural migration. Economic inequalities between cities and other regions began to shrink in the 1970s due to the indirect effects of the post Second World War's so-called "economic miracle". Also, after 2003, such disparities between metropolitan and rural areas further intensified due to an increase in the income gap, as Japan recorded the start of an aging society phenomenon. How the prefecture's socio-economical and healthcare characteristics are affecting the flow of migration will be examined through spatiotemporal autoregressive models.
    Date: 2022–08
  16. By: Balakina, Olga; Bäckman, Claes; Hackethal, Andreas; Hanspal, Tobin; Lammer, Dominique Marcel
    Abstract: Peer effects can lead to better financial outcomes or help propagate financial mistakes across social networks. Using unique data on peer relationships and portfolio composition, we show considerable overlap in investment portfolios when an investor recommends their brokerage to a peer. We argue that this is strong evidence of peer effects and show that peer effects lead to better portfolio quality. Peers become more likely to invest in funds when their recommenders also invest, improving portfolio diversification compared to the average investor and various placebo counterfactuals. Our evidence suggests that social networks can provide good advice in settings where individuals are personally connected.
    Keywords: Household finance,investment decisions,investment behavior,peer effects,social networks
    JEL: D14 G11 G4
    Date: 2022
  17. By: Gianluca Monturano; Giuliano Resce; Marco Ventura
    Abstract: This paper investigates the effects on the economic activities location of a specific governmental place-based policy, the Italian Strategy for Inner Areas (SNAI). Taking advantage of the most recent developments in the econometrics of policy evaluation, we apply a staggered difference-in-difference estimator to evaluate the impact of the public policy in terms of number of plants at municipal level. The analysis is made possible thanks to a detailed panel dataset containing information about Italian municipalities over the years 2014-2020. The results show that the policy has produced effects since its inception, generating a significant number of extra plants in the treated municipalities over the first two years. A further key issue is whether the policy has generated spillover effects on neighbours which may (in)validate the results obtained. To answer this question we propose an empirical strategy, joining the new estimator with spatial analysis, and we find no spillover effects
    Keywords: Rural development; Policy evaluation; Place-based policy; Event study analysis; Spillover effects
    JEL: C21 O12 O18
    Date: 2022–08
  18. By: Bayerlein, Michael
    Abstract: A widely held view is that increasing globalisation and inequality are fostering support for populist actors. Surprisingly, when focusing on Germany and the U.S., populist voting is highest in less globalised regions with rather equal income distributions. Addressing this puzzle, I ask how the regional variance in populist voting can be explained. In my answer, I introduce the concept of spatial inequality, which describes the regional inequality within countries, and construct a measure of public goods scarcity. I argue that the spatial inequality induced feeling of being left behind is positively correlated with populist voting and that this effect is mitigated by public goods provision. Using county level data to develop spatial inequality and public good scarcity indices, I can provide empirical support for these arguments. The findings have important implications for understanding the sub-national variance in populist voting and the role of relative economic deprivation as well as public goods provision.
    Keywords: Populism,Voting Behaviour,Inequality,Public Goods,Regional Economics
    JEL: D31 D63 D72 H41 R11
    Date: 2022
  19. By: David P. Glancy; Robert J. Kurtzman; Lara Loewenstein
    Abstract: Banks modify more CRE loans than CMBS, contributing to better loan performance when property incomes decline. However, banks have higher delinquency rates for less-stressed loans, consistent with modification policies encouraging strategic default. Motivated by these facts, we develop a tradeoff theory model in which lenders vary in their modification technologies. Modification frictions discourage strategic renegotiation, enabling CMBS to offer higher LTV loans and attract borrowers seeking higher leverage. The model produces cross-lender differences in LTVs and spreads consistent with the data. Reducing modification frictions at CMBS decreases welfare by restricting debt capacity for the borrowers that value it most.
    Keywords: Commercial real estate; Modifications; LTV
    JEL: R33 G21 G22 G23
    Date: 2022–08–08
  20. By: O'Brien, Martin (Central Bank of Ireland); Staunton, David (Central Bank of Ireland); Wosser, Michael (Central Bank of Ireland)
    Abstract: Recurrent property taxes form part of the tax system in most advanced economies. In this Letter we examine whether these taxes have broader benefits in terms of reducing down-side risk to house prices, and the volatility of potential house price outcomes overall. The results suggest that such benefits do exist. Combined with the steadiness of these tax revenues through the economic cycle, fiscal authorities could benefit from appropriately calibrated recurrent property taxes while also contributing to wider economic and financial stability.
    Date: 2022–07
  21. By: Michele Battisti (Department of Law, University of Palermo, Italy; ICEA; Rimini Centre for Economic Analysis); Giuseppe Maggio (Department of Law, University of Palermo, Italy; ICEA)
    Abstract: Governments have implemented school closures and online learning as one of the main tools to reduce the spread of Covid-19. Despite the potential benefits in terms of reduction of cases, the educational costs of these policies may be dramatic. This work identifies the educational costs, expressed as decrease in test scores, for the whole universe of Italian students attending the 5th, 8th and 13th grade of the school cycle during the 2021/22 school year. The analysis relies on a difference-in-difference model in relative time, where the control group is the closest generation before the Covid-19 pandemic. The results suggest a national average loss between 1.6-4.1% and 0.5-2.4% in Mathematics and Italian test scores, respectively. After collecting the precise number of days of school closures for the universe of students in Sicily, we estimate that 30 additional days of closure decrease the test score by 1%. However, the impact is much larger for students from high schools (1.8%) compared to students from low and middle schools (0.5%). This is likely explained by the lower relevance of parental inputs and higher reliance on peers inputs, within the educational production function, for higher grades. Findings are also heterogeneous across class size and parental job conditions, pointing towards potential growing inequalities driven by the lack of in front teaching.
    Keywords: COVID-19, educational skills, difference-in-difference
    JEL: I18 I28 C23
    Date: 2022–08
  22. By: Oussama Ben Atta (Université de Pau et des Pays de l'Adour)
    Abstract: This presentation investigates the impact of geographical proximity to universities on educational attainment in Nigeria. I relate individuals' level of schooling obtained from three rounds of the Nigeria Living Standard Measurement Survey (LSMS) to spatial distance too university measured by pairing residential and university campuses, GPS coordinates. To identify the effect of the distance to the university, I exploit the theory of residential sorting to instrument residential proximity to the university. Specifically, I instrument distance to the university drawing on variations in households’ proximity to state boundary posts and neighborhood population density. The instrumental variable estimates show a negative and significant effect of distance, revealing that geographical constraints during teenage years represent a barrier to the subsequent human capital acquisition. Additional results from a difference-in-difference estimation strategy indicate that a large-scale establishment of universities had beneficial trickle-down effects by decreasing the intention to drop out of secondary school, supporting evidence of the role of geographical constraints in the accumulation of human capital in Nigeria.
    Date: 2022–08–01
  23. By: Felix Roesel
    Abstract: I present the first database of historical local population figures for all Germany. The German Local Population Database (GPOP) includes total population in 1871, 1910, 1939, 1946, 1961, 1987, 1996, 2011, and 2019 for the universe of all German municipalities, counties, and states at consistent contemporary boundaries (31 December 2019). The database was hand-collected and assembled from more than 50 sources. The data reflect 150 years of regional development and disparities in Germany. For example, East and West Germany are heavily diverging in population since 1945; and the divide was not reversed but even doubled after reunification.
    Keywords: population, data, history, Germany, GPOP
    JEL: J11 R11 N33 N34
    Date: 2022
  24. By: Maurizio Strazzeri; Chantal Oggenfuss; Stefan C. Wolter
    Abstract: We estimate the impact of a large curriculum reform in Switzerland that substantially increased the share of foreign language classes in compulsory school on students' subsequent educational choices in upper secondary school. Using administrative student register data and exploiting the staggered implementation of the curriculum reform, we find that exposure to more foreign language classes during compulsory school has only minor effects on educational choices of the overall student population. However, we find substantial effect heterogeneity: while the reform has no effect on the direct educational progression of either low-track female or high-track students, it impedes low-track male students' transition to upper secondary education. The effect of foreign language classes on the educational trajectory of low-track male students is particularly pronounced for students who do not speak at home the school's language of instruction. Finally, we find that female students who start vocational training immediately after compulsory school are more likely to select into training occupations that require higher foreign language skills instead of natural science skills.
    Keywords: Policy Evaluation, Goodman-Bacon Decomposition, Education Reform, Foreign Language Skills, Compulsory School, Educational Choices, Occupational Choices
    JEL: I21 I24 I28
    Date: 2022–08
  25. By: Cabrera, José María; Cid, Alejandro; Veneri, Federico
    Abstract: We study the effects of increasing police presence on crime by exploiting the quasi-experimental nature of a large-scale hot spots intervention in a Latin American country that had experienced a significant increase in crime over the last 30 years. We match geocoded data on crime and GPS data that signals the presence of police to 200x200 meters cells covering Montevideo, Uruguay. Employing a difference-in-differences (DiD) approach, our results suggest that the program effectively increased police presence in the designated areas and reduced crime. We found an overall elasticity of 0.47 - a 10% increase in police presence is associated with a decrease of 4.7% in robberies. This three-year intervention allows us to investigate heterogeneous effects by year of intervention and contexts. The program presented greater effects during the first year of the intervention; during 2017, a period associated with significant legal changes in the country's criminal policy, the program did not affect crime. In 2018, we observed positive results in police presence and crime reduction but at a reduced level. We associated this reduction in outcomes with program fatigue which could impact the sustainability of this type of intervention. This study may help policymakers identify the conditions under which hot spots policing programs work and the degree to which they are replicable and scalable.
    Keywords: Crime; Robberies; Police; Patrolling; Hot spots; Georeferenced; GPS; Difference-in-differences; Uruguay; Latin America
    JEL: J48 K42 O17
    Date: 2022–07–15
  26. By: Jingzhu Chen; Yuemei Ji
    Abstract: We study the relationship between finance and growth using a sample of 275 Chinese cities during 2009-2018. We exclude a large amount of bank loans to local governments through the local government financing vehicles (LGFVs). This allows us to construct a new and better financial development index which measures the level of loans extended by banks to enterprises and households. Estimates from both GMM and Instrument Variables approaches indicate that financial development in the form of higher loan to GDP ratio leads to lower economic growth rate. We find that discrimination in bank lending, housing market bubbles and an unbalanced growth between real and financial sectors account for this negative relationship between finance and growth.
    Keywords: China, financial development, economic growth, banks, city
    JEL: O16 O18 O53 G21 N25
    Date: 2022
  27. By: Berlingieri, Francesco; Gathmann, Christina; Quinckhardt, Matthias
    Abstract: We study how the presence of a college affects the local economy using administrative data. Our analysis exploits the opening of new institutions of tertiary education across Germany in the 1980s and 1990s. The new college substantially increased the student population and share of high-skilled workers in the region. Yet, we find no effect on regional wages or employment indicating that the local economies did not experience additional growth through skill-biased technological change, for instance. Instead, there is sizable heterogeneity in the local gains: high-tech firms in manufacturing absorb most of the new college graduates, esp. in engineering professions. We find little impact on the low- or high-skilled service sector or employment in managerial professions. Finally, we show that local labor market conditions prior to the opening matter: in regions with a more dynamic labor market, the opening encourages firm creation and a permanent upskilling of the workforce. Areas with a less dynamic labor market experience little sustained growth in high-skilled workers who are absorbed by incumbent firms.
    Date: 2022
  28. By: Devine, Kenneth (Central Bank of Ireland)
    Abstract: Mortgage refinancing is a key household financial decision, with those who fail to refinance losing out on substantial monetary savings. Using a loan level dataset of Irish mortgages, this paper estimates that approximately 67% per cent of unconstrained borrowers did not take up a cost free refinancing offer from their financial institution when it was optimal to do so. I estimate average borrower foregone savings to be €5,400 over the remaining term of the mortgage. This represents a significant household financial mistake, particularly for vulnerable cohorts. I explore the role of borrower and mortgage characteristics, with the presence of financial distress acting as a primary factor in the low levels of engagement.
    Keywords: Mortgages, Refinancing, Household Finance.
    JEL: D10 D14 G21
    Date: 2022–06
  29. By: Kamga Kamga, Chrysleine Chantale; Tchouassi, Gérard; Essombe Edimo Nya Bonabébé, Jean - Roger
    Abstract: In this article, we analyse the effectiveness of the altruistic policy for local development in Cameroon. We use Data Envelopment Analysis (DEA) method. Datas used are from 61 chiefdoms in the city of Yaoundé. The empirical results obtained show that the philanthropic funds received (inputs) make it possible to finance economic and social infrastructures: outputs (schools, health centers, construction of water supply bridges, electricity, etc.). We recommend that the main actors in local development work together to promote altruism and philanthropic donations for the development of local infrastructure.
    Keywords: Altruism, Philanthropy, Local development, Urban territory, Infrastructures, DEA method.
    JEL: H41 R23
    Date: 2022–08–15
  30. By: Ash, Elliott (ETH Zurich); Cai, David (ETH Zurich); Draca, Mirko (University of Warwick, CAGE); Liu, Shaoyu (Columbia University)
    Abstract: We study the impact of a large-scale scientist recruitment program – China’s Junior Thousand Talents Plan (é ’å¹´å ƒäººè®¡åˆ’) – on the productivity of recruited scholars and their local peers in Chinese host universities. Using a comprehensive dataset of published scientific articles, we estimate effects on quantity and quality in a matched difference-in-differences framework. We observe neutral direct productivity effects for participants over a 6-year post-period: an initial drop is followed by a fully offsetting recovery. However, the program participants collaborate at higher rates with more junior China-based co-authors at their host institutions. Looking to peers in the hosting department, we observe positive and rising productivity impacts for peer scholars, equivalent to approximately 0.6 of a publication per peer scholar in the long-run. Heterogeneity analysis and the absence of correlated resource effects point to the peer effect being rooted in a knowledge spillover mechanism.
    Date: 2022
  31. By: Carlo Caporali (Gran Sasso Science Institute)
    Abstract: During the 2010s, Venezuela underwent the worst and deepest crisis of any non-war-ridden country in modern history. The failure of the socialist utopia, the economic crisis, the increasing lack of primary resources, and the dictatorial turn have caused the third, most dramatic, and complex Venezuelan out-migration wave in the past decade. Drawing on exclusive and georeferenced survey data collected in Venezuela and providing information on 21,382 individuals, this presentation investigates the role of the police force militarization in the Venezuelan migration crisis of 2018. I find that the higher the level of authoritative violence—proxied by the share of homicides committed by the security forces—the higher the likelihood is for an individual to migrate. The effect is significant only among males with a lower level of education. Estimates that rely on the travel time from the capital to each state’s most populated city as an instrumental variable are robust to the inclusion of several households and environmental and sociodemographic characteristics, including the overall level of violence represented by the number of violent deaths per 100,000 inhabitants.
    Date: 2022–08–01
  32. By: Amani Marie Claire; Sikubwabo Cyprien
    Abstract: The purpose of the study was to investigate the effect of community engagement on learners’ academic performance in Rwandan primary schools. Its specific objectives were: to examine the effect of community engagement in school financing on learners’ academic performance in primary schools of Kanzenze and Mudende sectors, to find out the effect of community engagement in teachers’ motivation on learners’ academic performance in primary schools of Kanzenze and Mudende sectors. The study adopted a correlational research design. The population under this study consisted teachers, head teachers, PTA, bursars and director in charge of studies. Totaling 94 potential respondents which took randomly. The instrument of the study was self-made (questionnaire) and a set of questions was formulated. Data were collected using structured questions with 5-point Likert scales. Quantitative data were analyzed using frequencies, percentages, standard deviation, means, and regression analysis. The finding from study concluded that there significant effect of community engagement in school financing on learners academic performance, community engagement in thematic method were used to calculate regression analysis of the study. The study recommend the following: Government should mobilize the parents to contribute in education of their children instead of letting education in the hands of teachers and government only as the main people who are in charge of education, Government must mobilize donors and other stakeholders to orient the grants in education system so that they should full participation in education, Government should make survey on how community is engaging in education of their children. Key words: community engagement, learner’s academic performance, bursar, headteachers, directors in charge of studies, teachers motivation and secondary schools.
    Date: 2022–06
  33. By: Simone Moriconi; Giovanni Peri; Riccardo Turati
    Abstract: We analyze whether second generation immigrants have different political preferences relative to observationally identical host country’s citizens. Using data on individual voting behavior in 22 European countries between 2001 and 2017 we characterize each vote on a left-right scale using ideological and policy position of the party from the Manifesto Project Database. In the first part of the paper we characterize the size of the "left-bias" in the vote of second generation immigrants, after controlling for a large set of individual characteristics and origin and destination country unobservable factors. We find a significant left-bias of second generation migrants relative to observationally identical natives, similar in magnitude to the association between left-bias and secondary education, or living in urban areas. We then show that this left-bias associates with stronger preferences for government intervention to reduce economic inequality, and for internationalism and multiculturalism.
    Keywords: immigration, elections, Europe
    JEL: D72 J61 P16 Z10
    Date: 2022
  34. By: Nicolas Juste (MATRis - Mobilité, Aménagement, Transports, Risques et Société - Cerema - Centre d'Etudes et d'Expertise sur les Risques, l'Environnement, la Mobilité et l'Aménagement - CY - CY Cergy Paris Université, LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - Université de Lille - CNRS - Centre National de la Recherche Scientifique, Cerema - Centre d'Etudes et d'Expertise sur les Risques, l'Environnement, la Mobilité et l'Aménagement); Moez Kilani (LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - Université de Lille - CNRS - Centre National de la Recherche Scientifique, ULCO - Université du Littoral Côte d'Opale)
    Abstract: In this paper, we seek to determine the effect that a change in transportation supply can have on the poverty level of a neighborhood. In particular, the evolution of the unemployment rate by developing a model that takes into account differences in the dispersion of skilled and unskilled jobs as well as the location strategies of the employed and the unemployed. We begin by presenting some stylized facts representing the distribution of jobs, employed and unemployed in some French urban units. The location of these different agents seems to follow a constant pattern. Skilled jobs and skilled inhabitants are more concentrated near the city center, while the unskilled are more dispersed. Within the same category, the unemployed are the least dispersed agents. For jobs and employed workers, it depends on the urban units. Jobs may be more concentrated than the employed, or vice versa. We propose two models to account for these distributions. The first one is based on the idea that the worse the accessibility to jobs, the higher the level of unemployment. The location of unemployment then depends entirely on the distribution of jobs and inhabitants. The second approach integrates a search-matching mechanism. Unemployment is no longer a consequence of the distribution of jobs and inhabitants, but the result of location and job search strategies on the part of the unemployed. It turns out that this second model provides the closest results to those observed empirically, because it explains both the greater concentration of jobs and qualified inhabitants, and the greater concentration of unemployed.
    Date: 2022–06–17
  35. By: Jolian McHardy (Department of Economics, University of Sheffield, UK); Michael Reynolds (Department of Economics, University of Leeds, UK); Stephen Trotter (Economic Policy, University of Hull, Hull, UK)
    Abstract: We show that a novel pricing system can help resolve a series of perennial problems evident in the deregulated British urban public transport market that have compromised economic growth, access equality and environmental ambitions. A two-stage pricing system, with operators setting their multi-operator service ticket prices collusively in one stage and their single-operator ticket prices independently, in the other, offers potential consumer surplus, profit and welfare gains over, what we characterise as, the ‘Status Quo’. The proposed win-win pricing regime can also support a larger number of operators and services with potential additional welfare gains. The Block Exemption in the UK allowing collusive pricing on a limited basis is due to expire and is under statutory review, making this is a timely contribution. We also compare the proposed regime against a multi-operator ticketing card (MTC) scheme, permitted under the Block Exemption, and show, whilst the MTC offers higher welfare when all regimes provide the same number of services, the proposed regime supports a larger number of operators in the presence of fixed costs, which can reverse the welfare ranking in its favour. A calibration exercise indicates the market may be in the region where the proposed regime can dominate the ‘Status Quo’ in profit, consumer surplus and welfare terms and supports a larger network than the ‘Status Quo’ or MTC with further welfare gains. The resulting higher public transport patronage may also offer further indirect benefits via reduced pollution, congestion and accidents. Furthermore, by improving transport efficiency it may help improve city density, especially in Britain’s second-tier cities which do not tend to benefit from extensive public transit rail and underground networks, with associated agglomeration effects contributing to the current leveling-up priority. Given the salience amongst developed countries of the private aspect of urban public transport in Britain, along with an unresolved private vs public debate, this issue is of potential interest to urban planners and policymakers beyond the UK.
    Keywords: Urban Transport; Networks; Pricing; Welfare
    JEL: D43 L13 L92 R11
    Date: 2022–08
  36. By: Yu Liu (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique); Shenle Pan (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique); Pauline Folz (Orange Innovation, France); Fano Ramparany (Orange Innovation, France); Sébastien Bolle (Orange Innovation, France); Eric Ballot (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique); Thierry Coupaye (Orange Innovation, France)
    Keywords: City Logistics,Smart Cities,Freight Parking Management,Sustainability,Digital Twin,Property Graph,Ontology,Semantic Web
    Date: 2022–11–17
  37. By: Margaret Burchinal; Sarah Krowka; Rebecca Newman-Gonchar; Madhavi Jayanthi; Russell Gersten; Samantha Wavell; Julia Lyskawa; Kelly Haymond; Karen Bierman; Jorge Gonzalez; Megan McClelland; Kimberly Nelson; Jill Pentimonti; David Purpura; Jason Sachs; Julie Sarama; Elizabeth Schlesinger-Devlin; Julie Washington; Emily Rosen
    Abstract: Ensuring that all children are prepared for elementary school is a priority for parents, caregivers, guardians, and policy makers. The What Works Clearinghouse, with an expert panel, distilled research into seven recommendations for preschool educators to use to help prepare children for school.
    Keywords: preschool, prekindergarten, pre-K, social-emotional, Head Start
  38. By: Vidal Vieira, José Geraldo; Ramirez Navarro, Hector Angel; Fransoo, Jan C. (Tilburg University, School of Economics and Management)
    Date: 2021
  39. By: Yining Liu; Yanfeng Ouyang
    Abstract: This study presents a multi-zone queuing network model for steady-state ride-sharing operations that serve heterogeneous demand, and then builds upon this model to optimize the design of ride-sharing services. Spatial heterogeneity is addressed by partitioning the study region into a set of relatively homogeneous zones, and a set of criteria are imposed to avoid significant detours among matched passengers. A generalized multi-zone queuing network model is then developed to describe how vehicles' states transition within each zone and across neighboring zones, and how passengers are served by idle or partially occupied vehicles. A large system of equations is constructed based on the queuing network model to analytically evaluate steady-state system performance. Then, we formulate a constrained nonlinear program to optimize the design of ride-sharing services, such as zone-level vehicle deployment, vehicle routing paths, and vehicle rebalancing operations. A customized solution approach is also proposed to decompose and solve the optimization problem. The proposed model and solution approach are applied to a hypothetical case and a real-world Chicago case study, so as to demonstrate their applicability and to draw insights. These numerical examples not only reveal interesting insights on how ride-sharing services serve heterogeneous demand, but also highlight the importance of addressing demand heterogeneity when designing ride-sharing services.
    Date: 2022–08
  40. By: Harb, Mustapha PhD; Malik, Jai PhD; Circella, Giovanni PhD; Walker, Joan L. PhD
    Abstract: Forty-three households in the Sacramento region representing diverse demographics, modal preferences, mobility barriers, and weekly vehicle miles traveled (VMT) were provided personal chauffeurs for one or two weeks to simulate travel behavior with a personally-owned, fully autonomous vehicle (AV). During the chauffeur week(s), the total number of trips increased on average by 25 percent, 85 percent of which were “zero-occupancy” (ZOV) trips (when the chauffeur is the only occupant). Average VMT for all households increased by 60 percent, over half of which came from ZOV trips. VMT increased most in households with mobility barriers and those with less auto-dependency but least in higher VMT households and families with children. Transit, ridehailing, biking, and walking trips dropped by 70 percent, 55 percent, 38 percent, and 10 percent, respectively. The results highlight how AVs can enhance mobility, but also adversely affect the transportation system.
    Keywords: Engineering, Travel behavior, vehicle miles of travel, autonomous vehicles, households, travel surveys
    Date: 2022–08–01
  41. By: Lopez, Claude; Roh, Hyeongyul; Switek, Maggie
    Abstract: The Community Explorer provides novel insightintoon the different characteristics of the U.S. population that can be used in policy design and impact assessment. More broadly, it increases the understanding of socio-economic gaps and potential markets in the U.S.. More specifically, it synthesizes the information of 751 variables across 3142 counties from the Census Bureau’s American Community Survey using machine learning methods, into 17 communities. Each one of these communities has a distinctive profile that combines demographic, economic, and many other behavior determinants while not being geographically bounded.
    Keywords: US diversity, equity, machine learning, clusters, census, county level data, data viz, interactive map
    JEL: C38 R0 R1 Y1
    Date: 2022–08
  42. By: Renee van Eyden (Department of Economics, University of Pretoria, Private Bag X20, Hatfield 0028, South Africa); Geoffrey Ngene (Stetson-Hatcher School of Business (SHSB), Mercer University, 1501 Mercer University Drive, Macon, GA 32107, USA); Oguzhan Cepni (Copenhagen Business School, Department of Economics, Porcelaenshaven 16A, Frederiksberg DK-2000, Denmark; Central Bank of the Republic of Turkey, Haci Bayram Mah. Istiklal Cad. No:10 06050, Ankara, Turkey); Rangan Gupta (Department of Economics, University of Pretoria, Private Bag X20, Hatfield 0028, South Africa)
    Abstract: This paper investigates the impact of temperature growth on real returns of US housing markets at the state level. Using the 1-month, 3-month, and 12-month horizons for the period 1975:01 to 2021:06 and heterogeneous random coefficients panel data model, we find that increased temperature growth rates negatively affect real house price returns across all horizons. The effects intensify when the media refers more to climate change news. While most states experience a decline in real house price returns at a 3-month horizon, the largest relative negative impacts are registered over the 12-month horizon, suggesting that climate risk is a long-run risk. Geographically, the rising temperatures have the most negative effect on real house returns in the US West Coast states of California, Arizona, Nevada, and Idaho, and the Sun Belt states, most notably Florida, Georgia, Texas, Tennessee, and Alabama. The results remain robust after controlling for state-level leading economic indicators and state- and national-level economic uncertainty arising from policy changes.
    Keywords: Climate Risks, Temperature Growth, Panel Random Coefficient Model, US States
    JEL: C33 D80 Q54
    Date: 2022–08
  43. By: Urban, Carly (Montana State University)
    Abstract: Concerned about low levels of financial literacy among teens and the importance of their looming financial decisions as emerging adults, state policymakers have expanded high school personal finance graduation requirements. Did these added requirements create an additional barrier for students? Comparing students in states with and without standalone personal finance course requirements before and after the requirements went into place, there is no evidence that these requirements reduced graduation rates overall, by race, by gender, or by family income. Existing research quantifies improvements in debt and credit behaviors, and these findings suggest there are not simultaneous adverse effects overall or for at-risk students.
    Keywords: high school graduation, personal finance, financial education
    JEL: G53 D14 I24
    Date: 2022–06
  44. By: Sascha O. Becker; Sharun Mukand; Ivan Yotzov
    Abstract: Persecution, pogroms, and genocide have plagued humanity for centuries, costing millions of lives and haunting survivors. Economists and economic historians have recently made new contributions to the understanding of these phenomena. We provide a novel conceptual framework which highlights the inter-relationship between the intensity of persecution and migration patterns across dozens of historical episodes. Using this framework as a lens, we survey the growing literature on the causes and consequences of persecution, pogroms, and genocide. Finally, we discuss gaps in the literature and take several tentative steps towards explaining the differences in survival rates of European Jews in the 20th century.
    Keywords: genocide, persecution, migration, immigration restrictions, exit or voice
    JEL: D74 F22 F51 N40 O15 R23
    Date: 2022
  45. By: Harb, Mustapha PhD; Malik, Jai PhD; Circella, Giovanni PhD; Walker, Joan L. PhD
    Abstract: Forty-three households in the Sacramento region representing diverse demographics, modal preferences, mobility barriers, and weekly vehicle miles traveled (VMT) were provided personal chauffeurs for one or two weeks to simulate travel behavior with a personally-owned, fully autonomous vehicle (AV). During the chauffeur week(s), the total number of trips increased on average by 25 percent, 85 percent of which were “zero-occupancy” (ZOV) trips (when the chauffeur is the only occupant). Average VMT for all households increased by 60 percent, over half of which came from ZOV trips. VMT increased most in households with mobility barriers and those with less auto-dependency but least in higher VMT households and families with children. Transit, ridehailing, biking, and walking trips dropped by 70 percent, 55 percent, 38 percent, and 10 percent, respectively. The results highlight how AVs can enhance mobility, but also adversely affect the transportation system.
    Keywords: Engineering, Travel behavior, vehicle miles of travel, autonomous vehicles, households, travel surveys
    Date: 2022–08–01
  46. By: Andrew F. Haughwout; Donghoon Lee; Daniel Mangrum; Joelle Scally; Wilbert Van der Klaauw
    Abstract: Total household debt increased by $312 billion during the second quarter of 2022, and balances are now more than $2 trillion higher than they were in the fourth quarter of 2019, just before the COVID-19 pandemic recession, according to the Quarterly Report on Household Debt and Credit from the New York Fed’s Center for Microeconomic Data. All debt types saw sizable increases, with the exception of student loans. Mortgage balances were the biggest driver of the overall increase, climbing $207 billion since the first quarter of 2022. Credit card balances saw a $46 billion increase since the previous quarter, reflecting rises in nominal consumption and an increased number of open credit card accounts. Auto loan balances rose by $33 billion. This analysis and the Quarterly Report on Household Debt and Credit use the New York Fed Consumer Credit Panel, based on credit data from Equifax.
    Keywords: consumer credit panel; auto loans
    JEL: D14
    Date: 2022–08–02
  47. By: Lockwood, Benjamin (University of Warwick); Porcelli, Francesco (University of Bari); Rockey, James (University of Birmingham)
    Abstract: This paper uses an instrumental variable approach based on close elections to evaluate the effect of political parties on local fiscal policy in England and Wales over the period 1998-2015. Our main finding is that political control of the council (by Labour, Conservative, or Liberal Democrat parties) has no effect on total current expenditure, the composition of that expenditure, the property tax rate (council tax per band D property) and total council tax revenue. We find the same null results for capital expenditure, debt, and authorized debt limits. Thus, our results confirm the widely expressed belief that centrally imposed constraints on local government fiscal policy (rate-capping, and more recently, compulsory referenda, and the Prudential Code for borrowing) hold local government fiscal policy in a tight grip.
    Keywords: Party Control ; Grants ; Government Spending ; Taxation JEL Codes: H70 ; H71 ; D72
    Date: 2022
  48. By: Kerstin Mitterbacher (Institute of Banking and Finance, University of Graz); Jürgen Fleiß (Business Analytics and Data Science-Center, University of Graz); Stefan Palan (Institute of Banking and Finance, University of Graz)
    Abstract: We experimentally study economic migrants' willingness to relocate to, and take up work in, the destination country, and, in turn, destination country citizens' willingness to allow economic migrants to relocate to and pursue formal work in their country. In doing so, we focus on economic migrants coming from less developed countries and citizens of more developed destination countries. We find clear evidence for a reciprocal relationship between the individuals in these roles. The labor market participation of economic migrants co-moves with destination countries' openness to welcoming them. However, open migration polices without the threat of facing restrictive policies reduce migrants' willingness to work. At the same time, while the existence of such a threat gets migrants to work, the actual implementation of restrictive policies has the same effects as open migration policies. We conclude that supporting economic migrants in early labor market attachment is crucial to support mutually beneficial co-existence in society.
    Date: 2022–08–16
  49. By: Magaly Faride Herrera Giraldo; Carlos Giovanni González Espitia
    Abstract: The study of the spatial distribution of homicides in historically violent cities is important because it provides new interpretations and potential policies for regions that are characterized by a persistent level of crime. While labor market characteristics have been correlated with its presence, few works have examined spatial patterns with the informal labor market. The empirical strategy begins with the calculation of the Moran index and the LISA test, which confirm a spatial association of homicides in neighborhoods. Subsequently, some linear regression models and a Spatial Durbin Model are estimated to confirm the correlation between homicides and the informal labor market. Finally, the intuition of this spatial correlation is shown in some maps. The main results show that the effect of the labor market on homicides does not come from the characteristics of the formal labor market but from the informal labor market, where working conditions are more precarious (no employment contract, health insurance, unemployment insurance, retirement pension, etc.). Thus, the bulk of this effect occurs in some hillside neighborhoods, areas with characteristics associated with informality, illegality, poverty and the lack of public investment in basic services such as electricity, water supply, sewerage or unpaved streets. These results have practical implications for understanding the correlation between economic incentives and crime in developing countries and in less favored cities in developed regions.
    Keywords: homicides, labor informality, hillside, emerging hot spot analysis.
    JEL: K14 K42 J46 C31
    Date: 2022–08–22
    Abstract: The aim of this report is to analyse the degree of universality of housing (support) policy across the EU member states and to refine the set of most relevant and reliable indicators that could be used to measure the universality of housing policy. The study is based on the analytical framework developed by Muñoz de Bustillo Llorente et al. (2020) proposing to measure universal social protection through the two main dimensions of coverage and adequacy. We present and discuss the results of the measured universality of housing (support) policy in the EU Member States applying our proposed methodology. The analysis is performed using OECD and Eurostat data available at the EU level. The report highlights the limitations of the data as well as possible solutions to address them, with the aim of improving the assessment of universality of housing policy and comparability across the EU member states in the future.
    Keywords: housing, housing policy, universality, social protection, welfare state
    Date: 2022–08
  51. By: Cyprien Sikubwabo1; Pascal Habihirwe
    Abstract: This study was to investigate the effect of ICT on students learning behavior in Rwandan secondary school Musanze district in Rwanda. This study adopted the correlational research design involving quantitative approach. The study was carried out in 4 selected public secondary school in Rwanda. The study involved a population of 3000 populations and a sample of 338 participants. The data was collected using a structured questionnaire with 5-point Likert scales. The data was analyzed using percentages, frequencies, means, standard deviation and regression analysis. The results of this study revealed that availability of ICT resources has no significant effect on the students learning behavior in Rwandan secondary school. However, it was found that accessibility of ICT resources has no significant effect on the student learning behaviors in Rwandan secondary school while user-ability of ICT resources have no significant effect on the student learning behaviors in Rwandan secondary school. The study recommended that Educational monitoring and evaluators should look at the completion of all core module and non-core, as some students complained that in ordinary level ICT is replaced by core modules of the curriculum. Besides that, Ministry of education (MINEDUC) should develop infrastructure within secondary school because some school situated in area where there is no electricity, internet connectivity and computers. Key words: effect, ICT, students learning behavior, secondary school
    Date: 2022–06
  52. By: Daniela Del Boca; Chiara Monfardini; Sarah Grace See
    Abstract: The importance of investment in early childhood education (ECE) has been widely documented in the literature. Among the benefits, particularly for children from disadvantaged backgrounds, is its potential to mitigate educational inequality. However, some evidence also suggests that the positive effects of ECE on later outcomes tend to dissipate over time, leaving children who attended such programmes no better off academically than those who did not. This paper studies the relationship between students’ years spent in ECE and the results of their educational assessment outcomes at age 15.Using PISA survey data for fourteen European countries from 2015 and 2018, we conduct a cross-country comparison of student performance in reading, mathematics, and science, correlating the results to early childcare and pre-primary school attendance. Our findings show that participation in early childcare is associated with better assessments at age 15, but that the benefit is nonlinear and peaks at 3-4 years of childcare attendance. Examination of gender heterogeneity patterns reveals differences in girls’ and boys’ performance on the assessments; however, there are no gender differences in the relationship between childcare participation and test outcomes. We also explore differences related to the type of educational system attended and find distinct results for the unitary and separate settings.
    Keywords: early childhood education, pre-primary, early investments, human capital, assessments, gender, institution, unitary, separate, PISA
    JEL: I20 J13 J16
    Date: 2022
  53. By: Adli, Mazda; Baumgart, Sabine; Beckmann, Klaus J.; Brenner, János; Bolte, Gabriele; Gärtner, Stefan; Hartz, Andrea; Havekost, Carola; Henckel, Dietrich; Köckler, Heike; Kramer, Caroline; Krätzig, Sebastian; Matthes, Gesa; Völker, Sebastian; Winter, Ralf
    Abstract: [Background and aims of this position paper] Since the COVID-19 pandemic began, it has become ever clearer that it poses an enormous challenge for society. The lockdown imposed on large parts of public life, which hit all social groups and institutions relatively abruptly with a wide range of impacts, as well as the measures adopted subsequently have resulted in radical changes in our living conditions. In some cases, the crisis has acted as an accelerator of trends affecting processes that were already ongoing: the digitalisation of communications and educational processes, the growth in working from home and mobile working arrangements, the expansion of online retail, changes in travel behaviour (in favour of cars and bicycles), and the establishment of regional service networks. At the same time, there has been a braking effect on sectors such as long-distance travel, global trade, trade fairs and cultural events, as well as on progress towards gender equality in the division of labour for household responsibilities and childcare. Socio-spatial, infrastructural, economic and ecological effects are becoming increasingly apparent. For those involved in spatial development and spatial planning, urgent questions arise not only about the weaknesses that have become apparent in our spatial uses in terms of infrastructure and public service provision, the economy and ecology, and in our ways of life in terms of housing and the supply of goods and services, but also about what opportunities have emerged for sustainable and self-determined lifestyles. What conclusions for anticipatory and preventive planning can be drawn from these (provisional) findings? Using a critical, multidisciplinary and integrative examination of the spatially-relevant effects of the COVID-19 pandemic, this paper establishes connections between the crisis management of today and crisis preparedness concepts for potential future pandemics. Building on that, it proposes corresponding recommended actions. These actions relate not only to insights for medium-term space-related crisis management but also to conclusions on long-term strategic challenges for spatial development in view of pandemics to be expected in the future. For this position paper, the 'Pandemic and Spatial Development' Ad hoc Working Group at the ARL - Academy for Territorial Development in the Leibniz Association has compiled interdisciplinary perspectives from spatial development and spatial planning, public health services, epidemiology, economics and social sciences, and has condensed them into transdisciplinary recommendations for action. These recommendations are directed at the various action levels for spatial development and spatial planning.
    Date: 2022
  54. By: Guerra, José Alberto; Mohnen, Myra
    Abstract: We study the importance of social interactions on occupational choice in Victorian London using a multinomial choice model within an incomplete social network. Individuals form heterogeneous rational expectations about their peers’ behaviors, taking into account their characteristics and the strength of their ties. We show the conditions under which the endogenous, exogenous, and correlated effects can be identified and a unique equilibrium can be established, Using a novel data set, we proxy social groups by parish boundaries and strength of ties by geographic distances, Our results show the importance of the endogenous effects and reveal distinct effects by occupation.
    JEL: J1 N0
    Date: 2022–07–01
  55. By: Jordan Bisset; Dirk Czarnitzki; Thorsten Doherr
    Abstract: We follow the migration patterns of European inventors and find evidence of a novel emigration determinant: policy uncertainty. We find that policy uncertainty raises the rate of inventor emigration by a notable magnitude. With a one standard deviation in the policy uncertainty of the home country, relative to the possible destination countries, the rate of inventor emigration increases by nearly 40%. Migrating inventors are subsequently exposed to lower levels of policy uncertainty in the destination country emphasising that uncertainty motivated the move. We conclude that these effects may have strong welfare implications at the aggregate level.
    Keywords: Out-Migration, Brain Drain, Uncertainty, Inventors
    Date: 2022–08–22
  56. By: Carlo Bottoni (Bank of Italy); Michele Cascarano (Bank of Italy); Iconio Garrí (Bank of Italy); Litterio Mirenda (Bank of Italy); Paolo Emilio Mistrulli (Bank of Italy); Dalia Maria Pizzillo (Bank of Italy); Davide Revelli (Bank of Italy); Tiziano Ropele (Bank of Italy)
    Abstract: The work analyzes the territorial divides in the access to credit for Italian firms in the period 2010-2019. As already documented by previous studies, the econometric analysis shows that, after controlling for a bunch of characteristics, Southern firms provide more frequently a collateral and face a higher cost of credit (by about 70 basis points, on average) than in the Center North. The conditions of access to credit affect loan demand, which is lower among Southern firms. Negative externalities, which are more marked in Southern Italy, such as the inefficiency of justice, the spread of crime and the lack of social capital, contribute to explaining part of the observed gaps.
    Keywords: territorial gaps, access to credit, cost of credit
    JEL: R11 G21
    Date: 2022–07
  57. By: Deyan Radev (Faculty of Economics and Business Administration at Sofia University); Georgi Penev (Bulgarian Fintech Association, Sofia, Bulgaria)
    Abstract: This paper provides insights into the drivers of the resilience of the Fintech sector in Emerging Europe by analyzing the performance of 128 Bulgarian Fintech companies in the period 2000-2021. Our results show that larger and better capitalized Fintech companies which outsource their non-core activities and focus on their main competitive strengths tend to have higher operating income and profit. We also find substantial positive real-economy effects as these companies hire actively on the labor market to maintain their growth. The results are primarily driven by the post-Brexit period of 2016-2019. These results have important managerial and policy implications and provide interesting directions for future research.
    Keywords: Brexit, fintech, regional clusters, resilience, emerging markets
    JEL: G01 R00 R11 P25
    Date: 2022–08
  58. By: Grosch, Kerstin (WU Vienna University of Economics); Haeckl, Simone (University of Stavanger); Kocher , Martin G. (University of Vienna & University of Gothenburg)
    Abstract: We examine individual-level determinants of interest in STEM and analyze whether a digital web application for elementary-school children can increase children’s interest in STEM with a specific focus on narrowing the gender gap. Coupling a randomized-controlled trial with experimental lab and survey data, we analyze the effect of the digital intervention and shed light on the mechanisms. We confirm the hypothesis that girls demonstrate a lower overall interest in STEM than boys. Moreover, girls are less competitive and exhibit less pronounced math confidence than boys at the baseline. Our treatment increases girls’ interest in STEM and decreases the gender gap via an increase in STEM confidence. Our findings suggest that an easy-to-implement digital intervention has the potential to foster gender equality for young children and can potentially contribute to a reduction of gender inequalities in the labor market such as occupational sorting and the gender wage gap later in life.
    Keywords: STEM; digital intervention; gender equality; field experiment
    JEL: C93 D91 I24 J16 J24
    Date: 2022–08–19

This nep-ure issue is ©2022 by Steve Ross. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
General information on the NEP project can be found at For comments please write to the director of NEP, Marco Novarese at <>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.