Public Policy Commons^™

Needed: An Armey Commission On The Budget, Murray L. Weidenbaum

Murray Weidenbaum Publications

The idea of a balanced budget is a fine start on the path towards governmental fiscal stability. The much harder task comes in identifying the specific spending cuts that should be made and attracting sufficient public support for such tough action. Currently, powerful interest groups are able to push very hard for the particular spending programs that benefit them. One solution to this problem would be to refer budget cuts to a bipartisan, blue-ribbon commission. Congress would then be required to vote up or down on the entire package, without opportunity to make exceptions for specific programs.

Tax Reform: Reconciling Economic Growth And Fairness, Murray L. Weidenbaum

Murray Weidenbaum Publications

The emerging debate on fundamental tax reform in the United States is focused too narrowly. The key disagreement currently is between promoting economic growth and maintaining fairness via a progressive tax structure. Alarmingly, most of the reform proposals which have gained attention do eliminate the progressivity which has been a long-term hallmark of the federal income tax system. This paper demonstrates that it is possible to achieve both objectives while making basic improvements in the federal revenue structure.

Coresidence With An Older Mother: The Adult Child's Perspective, Beth Soldo, Douglas A. Wolf, Vicki A. Freedman

Center for Policy Research

We estimate models of coresidence between adult children and their elderly unmarried mothers, using data from the National Survey of Families and Households. The models include controls for women’s wages, along with other variables representing competing demands on their time. Among married couples we explicitly represent the “competition” for residential space between a child’s mother and mother-in-law. The information necessary to identify the observations of interest— respondents with a living, unmarried older mother— is missing in most cases. We address this problem using a multiple imputation strategy. The results indicate that wages, income, and parental health are related to parent-child …

What We Know About Multifamily Mortgage Originations And Why We Care, Amy D. Crews, Robert M. Dunsky, James R. Follain

Center for Policy Research

The three publicly available data sets on multifamily mortgage originations are examined and compared in an attempt to resolve the more than $20 billion discrepancy between the published estimates of the size of the conventional conforming multifamily lending market. The data are from the Survey of Mortgage Lending Activity, the Home Mortgage Disclosure Act data, and the 1991 Residential Finance Survey. The analyses show that all three data sets have substantial weaknesses, and that the primary source of the differences in estimates is due to differences in the populations covered. The 1993 multifamily mortgage originations volume is estimated to be …

American Isolationism Versus The Global Marketplace, Murray L. Weidenbaum

Murray Weidenbaum Publications

A growing paradox faces the United States. There is simultaneously a rise in support for isolationism alongside an increasing globalization of business and economic activity. Examined separately, both trends possess a certain logical appeal. After all, given the end of the Cold War, many Americans expect an increased focus on domestic issues, of which there are plenty. At the same time, a global marketplace based on international trade has arrived. This paper examines the tensions these two trends present when placed alongside one another.

Using Recurrence Probabilities To Estimate The Volume Of Multifamily Mortgage Originations, Robert M. Dunsky, James R. Follain, Jan Ondrich

Center for Policy Research

This study uses recurrence probabilities to generate forecasts of the volume of multifamily mortgage originations for the period 1992-2002. The approach concentrates on predicting the volume of property sales using the baseline of a multifamily prepayment hazard estimation to generate the predicted cohort-specific proportion of calendar sales in a given year. The forecast for the volume of originations depends strongly on the definition of the relevant mortgage population. A definition that excludes assumptions but otherwise includes all properties selling between 1971 and 1991 in which a first mortgage was used in its acquisition yields a forecast of $47.2 billion for …

Estimating The Volume Of Multifamily Mortgage Originations By Commercial Banks Using The Survey Of Mortgage Lending Activity And The Home Mortgage Disclosure Act Data, Amy D. Crews, Robert M. Dunsky, James R. Follain

Center for Policy Research

Two public data sets on multifamily mortgage originations are used to resolve the $15 billion discrepancy between the published estimates of the size of the multifamily lending market covered by commercial banks. The data are from the Survey of Mortgage Lending Activity and the Home Mortgage Disclosure Act. The analyses show the primary sources of the differences in the estimates are differences in the populations covered, nonreporting biases, and the methods used to expand the reported values to aggregate values. The 1993 multifamily mortgage originations volume by commercial banks is estimated to be about $7-8 billion.

State Primacy, Federal Consistency Or Federal-State Consensus: Can Cooperative Federalism Models From Other Laws Save The Public Lands?, Hope M. Babcock

Challenging Federal Ownership and Management: Public Lands and Public Benefits (October 11-13)

18 pages.

Contains references.

Agenda: Challenging Federal Ownership And Management: Public Lands And Public Benefits, University Of Colorado Boulder. Natural Resources Law Center

Challenging Federal Ownership and Management: Public Lands and Public Benefits (October 11-13)

Conference organizers, speakers and/or moderators included University of Colorado School of Law professors David H. Getches, Michael A. Gheleta, Teresa Rice, Elizabeth Ann (Betsy) Rieke and Charles F. Wilkinson.

In the face of numerous proposals for privatizing, marketing, and changing the management of public lands, the Natural Resources Law Center will hold its third annual fall public lands conference October 11-13, at the CU School of Law in Boulder.

A panel of public land users and neighbors, including timber, grazing, mining, recreation, and environmental interests, will address current discontent with public land policy and management. There will also be discussion …

Slow Motion: Economic Mobility Of Young Workers In The 1970s And 1980s, Greg J. Duncan, Johanne Boisjoly, Timothy M. Smeeding

Center for Policy Research

This paper investigates the question of how long it takes young male workers to earn enough to reach a given standard of living, e.g., enough to support a family. We use the Panel Study of Income Dynamics data on the earnings of children and their parents to answer these questions. Our findings are that all groups of men, classified by race, ethnicity, and education level, are taking longer to reach a given standard of living. Some, e.g., undereducated black males, will never reach middle class standards of living for themselves. Implications for household formation, marriage, and public policy are discussed …

A Model For Simulating Life Histories Of The Elderly: Model Design And Implementation Plans, Douglas Wolf, Jan Ondrich, Kenneth G. Manton, Eric Stallard, Max A. Woodbury, Larry Corder

Center for Policy Research

This paper provides a strategy for the development of a model of life-cycle change in functional status, economic well-being, and family composition, with particular attention to persons aged 65 and older. The overall goal is to use the model as the basis for individual-level projections of the later life cycle, that is, microsimulation. Specifically, the scope of the project includes: 1. Specification and estimation of equations for the dynamics of functional status, nursing home occupancy, income and death among those aged 65+, using data from the 1982, 1984, and 1989 National Long-Term Care Survey (NLTCS) linked to Medicare data for …

Abolish The Department Of Commerce Now, Murray L. Weidenbaum

Murray Weidenbaum Publications

Many people believe that the Department of Commerce has outlived its usefulness. Eliminating the whole department is one way for the federal government to reduce unnecessary costs and regulation. Certain divisions that are essential could be slimmed down and moved to other departments.

Putting The Minimum Wage Debate In A Historical Context: Card And Krueger Meet George Stigler, Richard V. Burkhauser, Kenneth A. Couch, David Wittenburg

Center for Policy Research

Half a century ago George Stigler stated that evaluation of minimum wage policy should revolve around two questions: Does such legislation diminish poverty? Are there efficient alternatives? We argue that historically these were and continue to be appropriate questions to ask with respect to this policy. We then replicate and evaluate the analysis in Chapter 9 of Myth and Measurement: The New Economics of the Minimum Wage with regards to these questions. Given the evolution of the Earned Income Tax Credit we conclude that, aside from nostalgia, it is hard to explain the continued support for increasing the minimum wage …

The Nunn-Domenici Usa Tax: Analysis And Comparisons, Murray L. Weidenbaum

Murray Weidenbaum Publications

A comparison showing the pros and cons of different tax plans: the USA Tax Plan, a Flat Tax, Value-Added Tax, and Retail Sales Tax.

Labor Earnings And Household Income Mobility In Reunified Germany: A Comparison Of The Eastern And Western States, Richard Hauser, Holger Fabig

Center for Policy Research

Using data from the German Socio-Economic Panel (GSOEP) we compare the economic mobility of persons living in the eastern and western states of Germany between 1990 and 1995. We find that gross individual labor income mobility was initially much higher in the east than in the west following reunification, but by 1995 the gap had been greatly reduced. We find similar results when we change our measures to more accurately reflect economic well-being. Gross equivalent labor income and net equivalent income mobility were initially higher in the eastern states than in the western states but there has been convergence over …

Government Policy And Small Business Financing, Murray L. Weidenbaum

Murray Weidenbaum Publications

Small businesses are hurt by government policy and regulation.

Transitions Between Child Care Arrangements For German Pre-Schoolers, Jan Ondrich, C. Katharina Spiess

Center for Policy Research

This study uses a descriptive statistical approach to analyze the dynamics of child care for German pre-schoolers of all ages. Age-specific and duration-specific hazard rates for leaving informal care and for leaving formal care are calculated for various risk groups. Differences in the hazard rates across risk groups indicate the presence of important factors affecting transitions. The factors that we examine relate to household characteristics, the employment status of the mother, and regional supply. We find strong support for the hypotheses that households with fewer pre-schoolers and working mothers have greater demand for pre-school formal care. This demand also appears …

It's Time To Cut Government Regulations, Murray L. Weidenbaum, Melinda Warren

Murray Weidenbaum Publications

This piece shows how the costs of regulation affect consumers and recommends that Congress should conduct benefit-cost analyses when proposing regulation.

A New Look At Heath-Care Reform, Murray L. Weidenbaum

Murray Weidenbaum Publications

The time is ripe for taking a new look at health-care reform. Between a free market and a governmental approach, the operation of market forces often proceeds more rapidly and more effectively in responding to serious problems than do the more ponderous decision-making mechanisms of the public sector. Indeed, often the reduction of governmental impediments to competition represents the most efficient and least costly solution. Medical care is no exception.

Marketing The Rutland Heights State Hospital Rutland, Massachusetts, Umass Amherst Center Economic Development

Center for Economic Development Technical Reports

This report analyzed the characteristics of the Rutland Heights State Hospital site, town of Rutland, and the urban region of Worcester, Massachusetts. An assessment of the proposed re-use options provided in the State Master Plan was conducted. Finally, site management and marketing strategies were identified.

Downtown Redevelopment In Northampton A Model For Revitalization, Umass Amherst Center Economic Development

Center for Economic Development Technical Reports

This study examined Northampton’s downtown redevelopment over the past two decades in order to draw out lessons for other Massachusetts towns and cities. The study used a number of methods: Interviewing key informants; tracing downtown redevelopment through city records and newspaper searches; analyzing commuting patterns into and out of the city; examining data on new businesses and compiling an inventory of lesbian and gay businesses, organizations and events

Greater Franklin Area Trends Analysis Report, Umass Amherst Center Economic Development

Center for Economic Development Technical Reports

The Greater Franklin Area, located in south-central Massachusetts, is composed of nine communities along Route 495. The region was experiencing unprecedented growth pressures. In response, the United Chamber of Commerce had organized a Regional Community Visioning Process. This Trends Analysis Report was one product from Phase I of the process.

Berkshire County Commercial Corridor Market Analysis, Umass Amherst Center Economic Development

Center for Economic Development Technical Reports

This report focuses on the retail sector of Berkshire County, Massachusetts. The report examines the economic base and the significance of that sector to the future growth and development in the region.

Build Out Analysis And Fiscal Assessment For Mansfield, Massachusetts, Umass Amherst Center Economic Development

Center for Economic Development Technical Reports

This report is a summary of the ideas and strategies that emerged as a result of the Charrette held in Mansfield, Massachusetts on February 18, 1995. Charrette participants were a broad representation of interests ranging from public officials and various public/private associations to merchants and residents.

Space Inventory And Preliminary Marketing Recommendations, Umass Amherst Center Economic Development

Center for Economic Development Technical Reports

This report was designed to assist further economic development of Gloucester, Massachusetts’s working waterfront and downtown commercial district. This market and economic development plan was meant to provide the Gloucester Community Development Office with some key ingredients for the success of their overall economic revitalization plan that was being prepared for the entire city.

Georgetown Planning Analysis And Alternatives Georgetown Master Plan Commitee, Umass Amherst Center Economic Development

Center for Economic Development Technical Reports

This report is a study that prepares and presents background reports and preliminary growth management scenarios for the town of Georgetown, Massachusetts for the Georgetown Master Plan Committee. Georgetown’s character is described in terms of historical, cultural, and natural resources.

It's Time To Cut Government Regulations, Murray L. Weidenbaum, Melinda Warren

Murray Weidenbaum Publications

Congress should establish a committee on regulatory reform. Changes that would be helpful include: 1) require benefit-cost analysis for new regulation; 2) enforce a fixed timetable for agencies to issue permits; 3) emphasize objectives sought rather than precise methods to be used; 4) use risk assessment for achieving environmental, health, and safety protection; and 5) promote regulatory justice.

In Search Of Empirical Evidence That Links Rent And User Cost, Dixie M. Blackley, James R. Follain

Center for Policy Research

Most models of the rental housing market assume a close linkage between the level of residential rents and the after-tax user cost of rental housing capital. However, little empirical evidence exists to establish the strength of this linkage or the speed with which rents adjust to changes in user cost or tax policy. This paper develops and estimates an econometric model of the rental housing market in order to shed light on both of these issues. United States annual data for 1964 through 1993 are used to generate two-stage least squares estimates of a four equation structural model. Although the …

The Competitive Advantage Of The Inner City: Does Race Matter?, Philip S. Hart

William Monroe Trotter Institute Publications

Following up on his important work on the competitive advantage of nations, economist Michael Porter has turned his attention to the competitive advantage of the inner city. In his work on the competitiveness of nations—a five-year study often leading trading nations—Porter found that no nation was competitive in everything. He noted that competitive success tends to concentrate in particular industries and groups of interconnected industries, or clusters.

By turning his attention on the inner city, Porter has helped to reinforce the emerging sense that it is important to concentrate on the assets of such locations rather than on their liabilities. …