Tuesday, 28 November 2017

How an influential economics paper used imaginary environmental overregulation to spur low-density luxury housing

Why Do Cities Matter? Local Growth and Aggregate Growth is a 2015 paper written by University of Chicago and UC Berkeley economists Chang-Tai Hsieh and Enrico Moretti, which purports to show that the reasons cities are so expensive is that bourgeois NIMBYism drives affluent people to raise spurious environmental challenges to new developments, stalling growth. (more…)