Housing wealth and the economy's adjustment to unanticipated shocks

Article Abstract:

An elementary partial-equilibrium approach on the outcome of housing wealth on the reaction of the economy to unforeseen negative income shock is presented. It was demonstrated that housing losses boost the variability of the economy's adjustment to unanticipated shocks. Rents, house values, and total consumption decline beneath their final steady-state conditions as the economy conforms. This finding underscores the ability of wealth losses to lessen the impact of income fluctuations associated with the business cycle.

Economic aspects, Housing, Business cycles

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Urban growth controls with resident landowners

Article Abstract:

Models are developed to examine the application and effects of urban growth control concepts to both absentee and resident landowners. Results show that absentee landowners approve the imposition of strict growth controls since they would benefit from increases in rent. On the other hand, resident landowners do not derive benefits from rent increases caused by growth controls since they pay rent to themselves.

Models, Beliefs, opinions and attitudes, Rents (Property), Urban land use, Landowners

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Transport subsidies, system choice, and urban sprawl

Article Abstract:

The impact of transport subsidies on the spatial enlargement of cities is examined. The transport system choice of cities is also analyzed. It is shown that the regulation of system choice by the rich does not engender urban sprawl.

United States, Government domestic functions, Transportation policy, Urban transportation

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