"Urban and Regional Policy and Its Effects," the second in a series, sets out to inform policymakers, practitioners, and scholars about the effectiveness of select policy approaches, reforms, and experiments in addressing key social and economic problems facing cities, suburbs, and metropolitan areas. The chapters analyze responses to six key policy challenges that most metropolitans areas and local communities face:
- Creating quality neighborhoods for families
- Governing effectively
- Building human capital
- Growing the middle class
- Growing a competitive economy through industry-based strategies
- Managing the spatial pattern of metropolitan growth and development
Each chapter discusses a specific policy topic under one of these challenges. The authors present the essence of what is known, as well as the likely implications, and identify the knowledge gaps that need to be filled for the successful formulation and implementation of urban and regional policy.
Contributors: Karen Chapple and Rick Jacobus (University of California, Berkeley and Burlington Associates), Jeffrey R. Henig and Elisabeth Thurston Fraser (Teachers College, Columbia University), W. Norton Grubb (University of California, Berkeley), Harry J. Holzer (Georgetown University and Urban Institute), Susan Christopherson and Michael H. Belzer (Cornell University and Wayne State University), and Rolf Pendall (Cornell University)
Slow job growth, declining home values, a diminishing tax base, and concentrated poverty are but a few of the growing obstacles for well-established but struggling cities. Challenged by decades of globalization, technological change, and dramatic demographic shifts away from the urban core, these former industrial powerhouses, particularly in the Northeast and Midwest, have been eclipsed by burgeoning American cities with a viable niche in the new economy.In R "etooling for Growth, " experts present new frameworks, cutting-edge analysis, and innovative policy solutions for the nation's government, business, civic, and community leaders to sculpt a sustainable and supportable economy for older industrial areas. The unique focus on rehabilitating weak market cities outlines ideas for reshaping the role of public agencies, the workforce, business organizations, and technology. Implementation of these measures addresses challenges such as fostering entrepreneurship, reducing poverty and inequality, and maintaining and augmenting the number of skilled professionals who reside and work in a community, among others.This collection of essays offers practical, achievable strategies for revitalizing industrial areas and building upon the potential of existing but overlooked resources of economic, physical, and cultural significance. In this important volume, leading authorities provide a thought-provoking analysis of healthy economic development practices for both public and private sectors.
Millions of Americans have lost their homes since the start of the recession initiated by the financial crisis of 200809. But is the dream of homeownership for America's working families obsolete, an aspiration from a bygone era? Regaining the Dream rejects that notion and proposes a way to strengthen the financial system while simultaneously promoting an equitable and viable American homeownership policy.
For the first time, the authors of Regaining the Dream offer data-driven evidence on how the mortgage industry can serve working families in the United States, pointing the way to a pragmatic housing policy that promotes the opportunity for sustainable homeownership.
Taking the reader step by step through the lending crisis and what caused it, the authors include useful and clear definitions of terms heard almost daily in news coverage. And they give a fair account of the history behind Fannie Mae and Freddie Mac and the new Dodd-Frank law, explaining what remains to be done to uphold one of the defining characteristics of the American dream.
Hurricanes Katrina and Rita devastated the Gulf Coast in 2005. Commentary and analysis typically focused on what went wrong in the post-disaster emergency response. This forward-looking book, however, presents a more cautiously optimistic view about the region's ability to bounce back after multiple disasters.
Catastrophes come in different forms --hurricanes, recessions, and oil spills, to name a few. It is imperative that we learn how best to rebuild in the wake of disasters and what capacities and conditions are needed to improve future resilience. Since the devastating summer of 2005, leaders have made important inroads to restoring communities in more prosperous ways. "Resilience and Opportunity" is an important contribution to our collective learning from a teachable moment.
Contributors: Ivye Allen, Foundation for the Mid South; Lance Buhl, Duke University; Ann Carpenter, Federal Reserve Bank of Atlanta; Robert A. Collins, Dillard University; Mark S. Davis, Tulane University Law School; Breonne DeDecker, Brandeis University; Karen B. DeSalvo, Tulane University School of Medicine; Kathryn A. Foster, University at Buffalo Regional Institute, SUNY; Linetta Gilbert, The Declaration Initiative; Ambassador James Joseph, Duke University; Mukesh Kumar, Jackson State University; Luceia LeDoux, Baptist Communities Ministries; Silas Lee III, Xavier University of Louisiana; David A. Marcello, Tulane University; Richard McCline, Southern University; Nancy T. Montoya, Federal Reserve Bank of Atlanta; Reilly Morse, Mississippi Center for Justice; Elaine Ortiz, Greater New Orleans Community Data Center; Andre Perry, Loyola University, New Orleans; John L. Renne, University of New Orleans; Kalima Rose, PolicyLink; Michael Schwam-Baird, Tulane University; Jasmine M. Waddell, Brandeis University; Nadiene Van Dyke, New Orleans Police and Justice Foundation; Alandra Washington, W. K. Kellogg Foundation; Frederick Weil, Louisiana State University; Leslie Willams, LeaderShift Consulting; Jon Wool, Vera Institute of Justice.
Combining the results of empirical research with analyses of the basic economic forces underlying local education markets, The Economics of School Choice presents evidence concerning the impact of school choice on student achievement, school productivity, teachers, and special education. It also tackles difficult questions such as whether school choice affects where people decide to live and how choice can be integrated into a system of school financing that gives children from different backgrounds equal access to resources. Contributors discuss the latest findings on Florida's school choice program as well as voucher programs and charter schools in several other states.
The resulting volume not only reveals the promise of school choice, but examines its pitfalls as well, showing how programs can be designed that exploit the idea's potential but avoid its worst effects. With school choice programs gradually becoming both more possible and more popular, this book stands out as an essential exploration of the effects such programs will have, and a necessary resource for anyone interested in the idea of school choice.
The chapters cover theoretical developments concerning the forces of agglomeration, the nature of neighborhoods and human capital externalities, the foundations of systems of cities, the development of local political institutions, regional agglomerations and regional growth. Such massive progress in understanding the theory behind urban and regional phenomenon is consistent with on-going progress in the field since the late 1960’s. What is unprecedented are the developments on the empirical side: the development of a wide body of knowledge concerning the nature of urban externalities, city size distributions, urban sprawl, urban and regional trade, and regional convergence, as well as a body of knowledge on specific regions of the world—Europe, Asia and North America, both current and historical.
The Handbook is a key reference piece for anyone wishing to understand the developments in the field.
Fannie Mae and Freddie Mac, government-sponsored enterprises that played a prominent role in the financial crisis of 2008, and the federal government have come to a crossroads. The government must make key decisions about their structure, and indeed, their very existence.
The government has played an important role in the American housing market since the early 1930s, when the Great Depression ushered in housing programs to promote a stable society. The government's role expanded further during the recent housing and financial crisis --Fannie Mae and Freddie Mac now dominate the American housing market, backing more than 62 percent of new mortgages and holding more than $5 trillion in accumulated mortgage risk.
In "The Future of Housing Finance" Martin Baily and his associates discuss the issues and options that policymakers face as they reassess the government's role in the U.S. residential mortgage market. While presenting diverse analytical perspectives, including a contribution from former chairman of the Federal Reserve Alan Greenspan, all contributors agree that the government's support for mortgage financing in the recent past was too broad and deep but some role is necessary to maintain the stability of the housing finance market. The Obama administration has recommended reducing the role of Fannie and Freddie while replacing them with a private market approach, but continuing federal support for worthy borrowers. But what will Congress agree to? And how fast will it move on any initiative?
Specific topics include:
- Introduction of a new system to reduce incentives that encourage excessive risk taking.
- Gradual withdrawal of Fannie and Freddie from the housing finance system.
- New approaches to regulating mortgage securitization, with financial stability as a primary goal.
- Use of government-backed guarantees through institutional structures designed to limit moral hazard.