To varying degrees, most municipalities regulate urban development with zoning, density restrictions, and parking requirements. Such policies restrict the housing supply and urban density relative to what it could be in a free market. In this paper, we review the literature that measures the...

Economic success depends on institutions that favor competition and openness to innovation. This is well understood in the private sector and could also be applied to government. For example, New Orleans faces the tough challenge of rebuilding after the Hurricane Katrina disaster. An influx of...

This paper develops a model of luxury goods by incorporating weakly non-separable, recursive preferences. In a two-good framework, a quasi-luxury is de ned as a good whose marginal rate of substitution is increasing in wealth. Under certain conditions, it is identical to a luxury good. Consumers...

We examine the current account effect of a terms-of-trade deterioration for a small country model, incorporating weakly nonseparable preference a la Shi (1994) under endogenous time preference.