scholarly journals Labor Demand Shocks and Housing Prices Across the Us: Does One Size Fit All?

2018 ◽  
Author(s):  
Michael Osei ◽  
John V. Winters
2019 ◽  
Vol 33 (3) ◽  
pp. 212-219 ◽  
Author(s):  
Michael J. Osei ◽  
John V. Winters

This study examines whether effects of labor demand shocks on housing prices vary across time and space. Using data on 321 U.S. metropolitan statistical areas (MSAs), the authors estimate the medium- and long-run effects of increases in MSA-level employment and total labor income on housing prices. Instrumental variable estimates for different time periods, and also for coastal, noncoastal, large, and small metropolitan statistical areas, are obtained using the shift-share instrument. Results suggest that labor demand shocks have positive effects on housing prices; however, these effects appear to vary across time periods and across different types of MSAs.


2019 ◽  
Author(s):  
Belal Fallah ◽  
Marcelo Bergolo ◽  
Iman Saadeh ◽  
Arwa Abu Hashhash ◽  
Mohamad Hattawy

2021 ◽  
Vol 13 (12) ◽  
pp. 6808
Author(s):  
Yuxi Luo ◽  
Zhaohua Zhang ◽  
Jun Zheng ◽  
Diane Hite

Place-based policies refer to government efforts to enhance the economic performance of an area within its jurisdiction. Applying various difference in differences strategies, this study evaluates the neighborhood effects of a place-based policy—the Economic Development Priority Areas (EDPA) of Atlanta, Georgia, USA. Since the census block groups are locally defined and the boundaries may change over time, we defined the neighborhoods by creating a set of 0.25-mile- diameter circles evenly distributed across Atlanta, and used the created buffers as the comparison unit. The empirical estimates showed that EDPA designation significantly reduced poverty rate and increased housing price of EDPA neighborhoods but had no beneficial effects on population size and employment rate. The heterogeneous analysis with respect to different initial economic status of the neighborhoods showed a relative larger and significant effect of EDPA designation on low-income neighborhoods. The increasing labor demand induced by EDPA designation in low-income neighborhoods attracted more population to migrate in and put upward pressure on housing prices. The estimation results are robust when replacing the 0.25-mile-diameter circle neighborhoods with 0.5-mile-diameter circle neighborhoods. Although we found some positive effects of the EDPA program in Atlanta, it would be misguided to assume similar effects occur in other areas implementing place-based policies.


2010 ◽  
Vol 6 (4) ◽  
Author(s):  
Todd Bridgman

The global financial crisis (GFC) which began in 2007 with a liquidity squeeze in the US banking system and which continues to play out today has affected us all, whether through the collapse of the finance company sector, rising unemployment, falling housing prices or the recession which followed the initial market crash. The speed and scope of the crisis surprised most experts – policy makers included. Specialists from a myriad of disciplines, from economics and finance to risk management, corporate governance and property, are trying to make sense of what happened, why it happened and what it means for us now and into the future. Members of the public rely on the news media to keep them informed of the crisis as it unfolds and they rely on experts to translate these complex events into a language which they can understand. The GFC is educating us all, and it is important that we all learn from it to avoid making the same mistakes again. 


2021 ◽  
Vol 2 (1) ◽  
pp. 20-34
Author(s):  
Akhtar Gul ◽  
Tanbila Ghafoor ◽  
Fatima Zahra

The aim of this paper describes world’s future post-COVID-19. Coronavirus resemble pandemics exist in centuries. Exactly, one century ago influenza flu affected the world economy and social order. About millions of people died caused by pandemics along with weak and collapsed economies. The pandemic entirely affected every sphere of life, including, Labor demand and supply, tourism, economy, politics, and nature of the world.  There are two possible scenarios of the world post-Covid-19. First one world will enter new wars, hunger, and world order and so on. Second one, whole states collectively tackle this pandemic. Firstly, Economic and military strength determine the political power of a state. The US has been facing severe and critical crises since 2016. Thus, the US will not maintain power more and more. USA’s One Step Back Policy will collapse USA power and Trump loses the election, and new president will impose new wars on Asian land. European Union will disintegrate due to race of power among the powers along with world face. Secondly, China will impose a new world order after COVID-19. Because China policies totally different from previous superpowers. During supremacy, the Great Britain and USA were adopted aggressive political and military policies. In Contrast, China adopted an economic policy which is beneficial for every society. China started to lead the world economically and politically. So, this gap will create a new war in Asia and globally. China Economic Network policy (BRI) would cover world in 2040 years. Thirdly, world economies will face severe economic conditions like 1923, 1929 and 2008. The current recession and political scenarios are knocking a depression on world economic door. Fourthly, emerging economy India will not cover economic power till 2025. Maybe India never achieves economic prosperity due to Jingoistic approach.  In this paper, we predicate world’s economic and politics shape post-covid-19. The virus is changed every sphere and every field of life. ? We used NiGEM model. It’s just predication, will what occur in future. About 3% Gross Domestic Product, 10% consumption, 18% manufacturing and 13% to 32% trade declined due to current pandemics. Universal recession also take place. Now, how the world’s powerful state will push the world into new wars. Which one imposed new world order post-covid-19? Does a new Great Depression knock world door


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