CROSSING THE NEXT MERIDIAN: THE ECONOMICS OF RURAL-URBAN INTERDEPENDENCE, INSTITUTIONS, AND INCOME DISTRIBUTION IN THE AMERICAN WEST

This article explores and develops three ideas: (a) that the aridity of western North America and its attendant characteristics have fundamentally shaped the work of western agricultural economists and encouraged some distinctive western contributions to the study of economics; (b) that in order to understand economic relationships that are critical to rural western economic development, economists need to move beyond the standard equilibrium economic models and explore some emerging models of spatial development and institutional change in which the concept of “"increasing returns”" plays a key role; and (c) that the West provides a fine laboratory for testing these frameworks.Community/Rural/Urban Development,

CROSSING THE NEXT MERIDIAN: THE ECONOMICS OF RURAL-URBAN INTERDEPENDENCE, INSTITUTIONS AND INCOME DISTRIBUTION IN THE AMERICAN WEST

This paper explores and develops three ideas: (1) that the aridity of western North America and its attendant characteristics have fundamentally shaped the work of western agricultural economists and encouraged some distinctive western contributions to the study of economics; (2) that, in order to understand economic relationships that are critical to rural western economic development, economists need to move beyond the standard equilibrium economic models and explore some emerging models of spatial development and institutional change in which the concept of "increasing returns" plays a key role; (3) that the West provides a fine laboratory for testing these frameworks.Institutional and Behavioral Economics,

FINANCING K-12 EDUCATION IN OREGON

Public Economics,

The Valuation of Contaminated Land

This paper presents a Monte Carlo based method for explicitly accounting for uncertainty in the valuation of contaminated property. Environmental risk is being quantified by the scientific methods described in this paper. Financial risk is also quantifiable by these techniques. A 1993 Supreme Court case known as Daubert has changed the admission requirements for scientific evidence by expert witnesses. Hoyt (1997) notes that it is "imperative that real estate appraisers who testify be sure that their scientific evidence will stand up to the scrutiny of Daubert of their testimony may be rejected." A scientific method of quantifying the unique financial risk of this type of asset is used for the valuation of contaminated land.

POVERTY AND PLACE: A CRITICAL REVIEW OF RURAL POVERTY LITERATURE

Poverty rates are highest in the most urban and most rural areas of the United States, and are higher in non-metropolitan (nonmetro) than metropolitan (metro) areas, yet rural poverty remains relatively obscured from mainstream political and popular attention. This fact has motivated considerable research by rural social scientists on the relationship between poverty and place generally, and rural-urban differences in poverty, in particular. We provide a critical review of the literature on rural poverty, paying particular attention to methodogical and statistical challenges facing quantitative analyses. This body of research confirms the higher prevalence of poverty in nonmetro areas, and finds that while both compositional (individual) and contextual (structural) factors are at play, a complete explanation remains elusive. We note endogenous membership, omitted variable, and other challenges facing researchers, and conclude with suggestions for further research.Food Security and Poverty,

EMPLOYMENT AND EARNINGS OF THE WORKING POOR IN RURAL AND URBAN LABOR MARKETS

We use a unique administrative database to analyze the impact of labor market conditions on the employment outcomes of working poor adults in Oregon. Stronger labor demand conditions are associated with better employment outcomes. Lower earnings and less steady employment in rural areas are largely explained by higher unemployment rates.Labor and Human Capital,

Single Mother Work and Poverty under Welfare Reform: Are Policy Impacts Different in Rural Areas?

During the 1990s, employment increased and poverty declined for single mothers in rural and urban areas. Our results suggest that, holding demographics constant, changes in welfare and social policy during this decade contributed to employment increases--but not to poverty reduction--for both rural and urban single mothers. If rural and urban demographics had been the same, the policy changes would have increased employment and reduced poverty more in rural areas. Without demographic controls, however, estimated policy impacts were no better in rural places. This suggests that rural demographic changes limited the policy impact on rural single-mother work and poverty.Demographics; Mothers; Policy; Single Mother; Welfare

THE IMPACT OF POPULATION GROWTH ON RESIDENTIAL PROPERTY TAXES

A multivariate model of the effect of population on local fiscal behavior, assessed value of property and average single family home values is estimated using cross-sectional data from Oregon. Regression results suggest that property tax levies are unit elastic with respect to population, that the total assessed value of property increases less than proportionally with population, and that the average value of a single family home increases with population. These results imply a positive relationship between population and both property tax rates and the tax bill of the average single family homeowner. Ceteris paribus, increases in average residential property taxes are associated with increases in population.Public Economics,

Private money creation and the Suffolk Banking System

Electronic commerce ; Money

DOES ECONOMIC VULNERABILITY DEPEND ON PLACE OF RESIDENCE? ASSET POVERTY ACROSS THE RURAL-URBAN CONTINUUM

This paper uses Panel Study of Income Dynamics data for 1989, 1994, and 1999 to examine why some U.S. households are asset poor; that is, why households have insufficient resources to invest in their future or to sustain household members at a basic level during times of economic disruption. The study contributes to an improved understanding of asset poverty's correlates by examining the influence of place of residence; the extant literature has focused on individual-level explanations. We estimate a random-effects logistic model of the probability that an individual is asset poor at a given point in time as a function of household-level (e.g. age, gender, race of the household head and family structure) and place-level (regional and rural-urban continuum) variables. The central finding of the paper is that place of residence is an important determinant of asset poverty, above and beyond the influence of household characteristics. We find that living in a central metropolitan county and in a nonmetropolitan area is associated with a higher risk of being asset poor, all else being equal. Implications for future research are discussed.Food Security and Poverty,