Housing Market

Housing Market

The Economic Implications of Housing Supply

"Housing supply shapes housing prices and the size of metropolitan areas. When supply is highly regulated, prices are higher and population growth is smaller relative to the level of demand. The regulation of America’s most productive places seems to have led labor to locate in places where wages and prices are lower, reducing America’s overall economic output in the process. The older, richer buyers in America’s most regulated areas have experienced significant increases in housing equity. The rest of America has experienced little growth in housing wealth over the past 30 years."


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Posted: February 24th, 2017 | Permalink

Hiding in Plain Sight

“For some time now the Fed’s balance sheet had basically been hiding in plain sight, no mean feat considering how large that balance sheet is,” wrote Regents’ economists Richard Moody and Greg McAtee. “Recent weeks, ...have seen the Fed’s balance sheet gently pushed out of the shadows, even if it remains some distance from center stage in the FOMC’s policy framework. To be sure, when it comes to monetary policy, the Fed funds rate remains the main focus of the FOMC as well as market participants, but that many FOMC officials are now openly discussing the balance sheet means it’s time for the rest of us to start paying attention.”


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Posted: February 10th, 2017 | Permalink

Private Infrastructure Provision: The Easy, the Hard, the Impossible

Posted: January 30th, 2017 | Permalink

An Analysis of CBO’s Budget and Economic Outlook

“Trillion-dollar deficits will return by Fiscal Year (FY) 2023, with deficits growing from $587 billion (3.2 percent of GDP) in 2016 to $1.4 trillion (5.0 percent of GDP) by 2027.”

 


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Posted: January 24th, 2017 | Permalink

Monetary Policy: Where Will Things Land?

Posted: January 24th, 2017 | Permalink

Closer Look at Possible Uses of the Congressional Review Act

"The Congressional Review Act (CRA) is an oversight tool that Congress may use to overturn a rule issued by a federal agency."


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Posted: January 23rd, 2017 | Permalink