E-Cigs the Market Solution to Save a Billion Lives? @EricCrampton @JenesaJeram
09 Dec 2016 Leave a comment
in economics of regulation, health economics Tags: economics of smoking, meddlesome preferences
Eugene Fama’s advice for the next president
01 Dec 2016 Leave a comment
in applied price theory, constitutional political economy, economics of regulation, entrepreneurship, financial economics Tags: 2016 presidential election, Eugene Fama
Which is worse? The tax or regulation?
30 Nov 2016 Leave a comment
in applied price theory, economics of regulation, Public Choice, public economics Tags: tax incidence theory
Bomb damage or rent control?
28 Nov 2016 Leave a comment
in applied price theory, economics of regulation, Public Choice
The World Health Organization’s Tough Tactics Against Tobacco and E-Cigs
22 Nov 2016 Leave a comment
in economics of regulation, health economics Tags: economics of smoking, nanny state
The key role of housing costs in disaster recovery @ericcrampton @JordNZ #nzeq
16 Nov 2016 Leave a comment
in applied price theory, economic history, economics of natural disasters, economics of regulation, politics - New Zealand, politics - USA, urban economics Tags: land supply, land use planning, NYMBYs, RMA, zoning
The evidence abroad after earthquakes, hurricanes, flooding, tornados, and wartime bombing is that for growing cities, disasters, including carpet bombing and atomic bombs, are only temporary set-backs with few long-run economic and population consequences. A few years after a disaster, these cities even recover the industries they had before their calamities.
For growing cites, the loss of housing and other destruction does not affect the underlying demand from workers and businesses to be at the location. Florida has prospered despite over twenty hurricanes striking since 1988 and five of the six most damaging Atlantic hurricanes of all time striking since 1988.
Cities that are already in decline drop down onto an even faster downward population and economic trend after a major natural disaster. A large scale destruction of housing takes away the one compensating feature of these declining cities, which was cheap housing.
Housing prices in declining cities are usually well below construction costs. Low living costs partly offset the relative lack of local economic opportunity in these cities. New Orleans is an example of a declining city that did not recover fully from a disaster for this reason.
After Hurricane Katrina, New Orleans had much higher costs of housing because of flood damage but there were limited local economic opportunities to attract back old and new residents. About 20 per cent of the Katrina evacuees did not return.
Natural disasters be they earthquakes or hurricanes turn declining cities and towns from a dump with cheap housing to a dump with expensive housing. They can be a killer blow.
The main policy enabler of growing cities in the USA has been the avoidance of land use regulations that raise housing costs. Over the past 20 years, the fastest growing U.S. regions have not been those with the highest income or most attractive climates.
Flexible housing supply is the key determinant of regional growth. Land use regulations drive housing supply and determine which regions are growing. A regional approach to enabling increases in land and housing supply might reduce the tendency of many localities to block new construction.
Should E-cigarettes be subsidised? An evidence-based health policy litmus test
14 Nov 2016 Leave a comment
in applied price theory, applied welfare economics, economics of information, economics of regulation, health economics
Utopia, you are standing in it! 
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