Residential Land Use Regulation and the US Housing Price Cycle Between 2000 and 2009

In a sample covering more than 300 cities in the US between January 2000 and July 2009, we find that more restrictive residential land use regulations and geographic land constraints are linked to larger booms and busts in housing prices. The natural and man-made constraints also amplify price responses to an initial positive mortgage-credit supply shock, leading to greater price increases in the boom and subsequently bigger losses.residential land use regulation; credit expansion; housing prices

Impacts of Privatization on Employment - Evidence from China

This paper evaluates the impact of privatization on firm employment using a panel dataset of 386 firms in China in the period 1995-2001. Controlling firm and year fixed effects, our panel regressions find that employment grows faster in privatized firms than in pure state-owned firms by a margin of 17.7 percentage points over the base year of 1995. We also study the dynamic impact of privatization on employment growth and find that the performance of privatized firms improves over time. These findings are robust even after we control other performance and financial variables as well as the pre-privatization employment history of privatized firms. In addition, we employ the difference-in-dffierence propensity score matching method to check the robustness of our results. The estimates cofinrm the regression-based results.Labor Demand, Comparison of Public and Private Enterprises, Privatization, Socialist Enterprises and Their Transitions, China