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Designed to reach a wide audience of scholars and policymakers, the Brookings-Wharton Papers on Urban Affairs is an annual series that serves as a forum for cutting-edge, accessible research on urban policy. Tentative contents include: •Growth of Medium-Size Cities in China Vernon Henderson (Brown University) • The Effects on Driving Patterns, Commuting Times, and Air Quality of New Public Projects to Expand Urban Rail Transit Matthew Kahn (Tufts University) and Nathaniel Baum-Snow (University of Chicago) • State Fiscal Constraints and Higher Education Spending Peter Orszag (Brookings) and Thomas Kane (UCLA) • Looking Back to Look Forward: What Can We Learn from Philadelphia's 350 Year History? Joseph Gyourko (University of Pennsylvania) • The Effect of California's Proposition 13 on Mobility Nada Wasi and Michelle White (University of California, San Diego) •Metropolitan Migration in the U.S.: The Impact of Immigrant Minorities, Blacks, and Seniors William Frey (University of Michigan) and Kao-Lee Liaw (McMaster University)
Just as investors want the companies they hold equity in to do well, homeowners have a financial interest in the success of their communities. If neighborhood schools are good, if property taxes and crime rates are low, then the value of the homeowner’s principal asset—his home—will rise. Thus, as William Fischel shows, homeowners become watchful citizens of local government, not merely to improve their quality of life, but also to counteract the risk to their largest asset, a risk that cannot be diversified. Meanwhile, their vigilance promotes a municipal governance that provides services more efficiently than do the state or national government. Fischel has coined the portmanteau word “homevoter” to crystallize the connection between homeownership and political involvement. The link neatly explains several vexing puzzles, such as why displacement of local taxation by state funds reduces school quality and why local governments are more likely to be efficient providers of environmental amenities. The Homevoter Hypothesis thereby makes a strong case for decentralization of the fiscal and regulatory functions of government.
"The major portion of this paper examines the impacts on housing costs of the most important types of land-use, environmental, and construction regulations - zoning, subdivision controls, growth management techniques, building codes, and environmental regulations - by reviewing the literature and presenting some simple theoretical models. A final section of this paper presents some initial empirical results of the author's research on the impact of local land-use regulations on land and housing costs in California."--Page 3
Peter Schrag takes on the big issues—immigration, globalization, and the impact of California’s politics on its quality of life—in this dynamic account of the Golden State’s struggle to recapture the American dream. In the past half-century, California has been both model and anti-model for the nation and often the world, first in its high level of government and public services—schools, universities, highways—more lately for its dysfunctional government, deteriorating services, and sometimes regressive public policies. Schrag’s incisive analysis of the state’s political, demographic, and fiscal realities vividly demonstrates that it has been struggling with a range of problems for a generation. The author deftly shows that California’s ability to forge its culturally and ethnically diverse population into a successful democracy will be of crucial importance not only to America, but to the world. He also explains how many current "solutions" exacerbate the very problems they're supposed to solve and analyzes a variety of possible state and federal policy alternatives to restore accountable government and a vital democracy to the nation's largest state and world's fifth largest economy. Among the issues that Schrag tackles: * The impact of Latino and Asian immigration and the emergence of California as the first large majority minority state * The globalization of California’s economy and culture * The growing reliance of voters on the initiative, referendum, and recall processes * The increasing instability of elected government * California as cultural avant-garde, from hippies to gay marriage
Peter Schrag takes on the big issues immigration, globalization, and the impact of California's politics on its quality of life in this dynamic account of the Golden State's struggle to recapture the American dream. In the past half-century, California has been both model and anti-model for the nation and often the world, first for its high level of government and public services schools, universities, highways and latterly for its dysfunctional government, deteriorating services, and sometimes regressive public policies. "California "explains how many current "solutions" exacerbate the very problems they're supposed to solve and analyzes a variety of possible state and federal policy alternatives to restore government accountability and a vital democracy to the nation's most populous state and the world's fifth-largest economy.
State and federal government regulations are disciplined by property-owner coalitions whose "voice" is clearly audible in the statehouses and in Congress.
This important book and its companion volume, Issues in Contemporary Microeconomics and Welfare, capture and convey the spirit, fundamental issues, underlying tensions, rich variety, accomplishments, and failures in contemporary economics. It presents economics as a dynamic subject, showing its strengths and limitations, exploring alternative approaches, and tracing the sources of differences. The essays include original contributions by the theorists themselves; major interpretations, reflections, and assessments by leading economists, and evaluations of particular areas by rising young scholars.