Economics Commons^™

Property Value Impacts Of Foreclosed Housing Acquisitions Under Uncertainty, Michael P. Johnson Jr., Senay Solak, Rachel B. Drew, Jeffrey Keisler

Michael P. Johnson

Community development corporations seek to stabilize neighborhoods affected by the recent foreclosure crisis through acquisition and redevelopment of distressed properties. One rationale for this work is the alleviation or avoidance of negative foreclosure impacts. We estimate the lost value to proximate properties associated with a single foreclosure through a Markov chain representing probabilistic transitions between foreclosure stages. We apply our model to a case study of foreclosure properties in Chelsea, MA. A rank ordering by estimated property value impacts indicates significant potential gains in social value as compared to current community development practice. We extend our basic model to address …

The Art Of Getting In The Way: Five Years Of The Bndes Platform, Peter Spink, International Budget Partnership

International Budget Partnership

When a coalition of civil society organizations began to pry into the finances of Brazil’s powerful national development bank, it challenged the status quo and advanced the call for a more transparent, balanced, and democratic economic policy.

The short summary and full version of this case study are available in English. The short summary case study is available in French and Spanish.

LINK: http://internationalbudget.org/publications/the-art-of-getting-in-the-way-five-years-of-the-bndes-platform-2/

Foreign Assistance And Fiscal Transparency: The Impact Of The Open Budget Initiative On Donor Policies And Practices, Linnea Mills, International Budget Partnership

International Budget Partnership

This paper presents research that sought to document how, when, and why three donor agencies — the U.S. Department of State, the Millennium Challenge Corporation (MCC), and the U.K. Department for International Development (DFID) — have adopted the Open Budget Index in language and practice; assesses the contributions of the Open Budget Initiative and its partners to achieving these apparent advocacy successes; and analyzes other factors that may have influenced the decision of these three donors to use the language and methodology advocated by the Open Budget Initiative. In conclusion, the analysis of the three donor case studies covered in …

Symposium Report: Findings From The Research Roundtable On The Economic And Community Impact Of Broadband, Edward Feser, John Horrigan, William Lehr

Edward J Feser

In December 2012, a group of experts spanning disciplines and practice in the field of broadband policy met to discuss how the research community can better serve state and local policymakers and other stakeholders. This group of subject matter experts was convened to examine how best to measure the economic impact of state and national broadband deployment and capacity/adoption building efforts. The impetus for the symposium stemmed from the widespread view that there is a deficit of research, standards, and measurements to adequately inform the widely acknowledged view that broadband Internet is a driver of sustainable economic and community development. …

Budget Transparency In Afghanistan: A Pathway To Building Public Trust In The State, Nematullah Bizhan

International Budget Partnership

This case study discusses major improvements in government budget transparency and public engagement in Afghanistan, presenting an analysis of the roles of the following actors in the trend toward more open budgeting: 1) the International Budget Partnership, foreign donors, civil society organizations, and the media; 2) the government; and 3) the legislature. This paper argues that by increasing its OBI score from 8 in 2008 to 21 in 2010, Afghanistan has made important progress, though it still remains below average. But donors, CSOs, and to some extent the media are putting increasing pressure on the government to improve its Public …

The Impact Of The International Budget Partnership's Open Budget Survey And Its Partner Institution's Advocacy On Budget Transparency In Honduras, Hugo Noe Pino, International Budget Partnership

International Budget Partnership

This case study looks at how the preparation and publication of the Open Budget Survey 2010 in Honduras increased awareness of Honduras’ budget transparency problems. The increased attention given to these issues brought together local civil society organizations, the International Budget Partnership, the Millennium Challenge Corporation, and the government of Honduras to make progress on budget transparency. Also, the IBP’s technical assistance to the government of Honduras played an important role in the recent publication of budget documents, which combined with a strong government will have provided the basis for public finance management reforms. Although the main incentive for the …

The Unintended Consequences Of Regulation In The Presence Of Multiple Unpriced Externalities: Evidence From The Transportation Sector, Antonio M. Bento, Daniel Kaffine, Kevin Roth, Matthew Zaragoza

Antonio M. Bento

In transportation systems with unpriced congestion, allowing single-occupant low-emission vehicles in high occupancy vehicle (HOV) lanes to encourage their adoption exacerbates congestion costs for carpoolers. The resulting welfare effects of the policy are negative, with environmental benefits overwhelmingly dominated by the increased congestion costs. Exploiting the introduction of the Clean Air Vehicle Stickers policy in California with a regression discontinuity design, our results imply a best-case cost of $124 per ton of reductions in greenhouse gases, $606,000 dollars per ton of nitrogen oxides reduction, and $505,000 dollars per ton of hydrocarbon reduction, exceeding those of other options readily available to …

Entrepreneurship Education In The Research-Intensive Entrepreneurial University, Edward Feser

Edward J Feser

Knowledge commercialisation and commodification are important components of universities’ “Third Mission” to contribute to the development of their home regions by strengthening their engagement with the public, private, and third sectors. Entrepreneurship education programmes have tended to develop in parallel to such “entrepreneurial university” initiatives, rather than in intentional alignment with them. This is reflected in the research literature as well, where the analysis of the “entrepreneurial university” and studies of entrepreneurship education have little overlap. This paper examines the evolution of the entrepreneurship education initiative of a single research-intensive institution—the University of Manchester in the United Kingdom—and the ways …

Isserman's Impact: Quasi-Experimental Comparison Group Designs In Regional Research, Edward Feser

Edward J Feser

Applications using quasi-experimental comparison group designs in regional science and geography have increased substantially over the last three decades, inspired by the work of Andrew Isserman and colleagues in the 1980s and 1990s, robust literatures on quasi-experimental design in fields like education and psychology, a vast program evaluation literature, observational studies methodology in statistics, and the growing interest in experimental and non-experimental (natural) designs in empirical economics. This paper discusses the state of quasi-experimental comparison group research today, with a primary focus on studies in which regions—Census tracts, counties, cities, metropolitan areas, provinces, or states—are the units of analysis. There …

Transaction Costs Analysis Of Low-Carbon Technologies, Luis Mundaca T., Mathilde Mansoz, Lena Neij, Govinda R. Timilsina

Luis Mundaca

Transaction costs (TCs) must be taken into account when assessing the performance of policy instruments that create markets for the diffusion and commercialization of low-carbon technologies (LCTs). However, there are no comprehensive studies on the development and application of transaction cost analysis to LCTs. In this meta-analysis, a wide-ranging evaluation of TCs associated with energy efficiency, renewable energy, and carbon market technologies is provided. There is a plethora of different definitions of, and measurement techniques to estimate, TCs. There is wide variation in the quantitative estimates, which can be attributed to factors such as the definition used, data collection, quantification …

Walking Away From A Low-Carbon Economy? Recent And Historical Trends Using A Regional Decomposition Analysis, Luis Mundaca T., Anil Markandya, Jørgen Nørgaard

Luis Mundaca

Using the latest available data, this article provides the first regional decomposition analysis of CO2 emissions from fuel combustion. Covering eight regions of the world, determinants are estimated in relative and absolute terms for the period 1971-2010. We take the 2010 global surge in CO2 emissions as an entry point for the analysis. Overall, results show that most regions have recently performed worse than their historical trends and lack of meaningful progress is identified. Whereas specific drivers for certain regions suggest some level of continuous improvement (e.g. reduced energy intensity in Asia), they are incapable of offsetting the effects of …