LOCAL ENFORCEMENT OF LAWS PROHIBITING DISCRIMINATION IN HOUSING: THE NEW YORK CITY HUMAN RIGHTS COMMISSION

This article examines the problem of housing discrimination in New York City as well as the role of the Human Rights Commission in fighting illegally discriminatory practices. Part I describes the evidence demonstrating housing market discrimination and examines the harmful impact these practices have on many New Yorkers. Part II examines the New York City Human Rights Commission\u27s battle against housing discrimination from its founding in 1955 to the present day. As part of this analysis, New York City\u27s Human Rights Law is compared with analogous protections enacted by the State of New York and the federal government. Data on all housing discrimination complaints filed with the Commission in 1992 and 1993 is also studied. Finally, Part III of the article comments briefly on how the Commission can face the challenges of the future in seeking to break down barriers to residential mobility and integration

Cross listing waves

Using a 57-year global panel of listings on foreign stock exchanges, we identify waves in foreign listing activity at the host market, home market, and industry levels. We observe that the waves in the host market are often due to cross-listing waves in home markets or industries that share a particular affiliation with the respective host market. We then find that cross-listing waves in a given host country or from a given home country largely coincide with the outperformance of that country’s economy and financial markets relative to other competing markets. We also show that firms that list their shares during waves are associated with a temporary value premium. Our results provide novel evidence of non-monotonic market development across countries and over time.Firm valuation; Market competitiveness; Market timing; Stock exchanges

State of New York City's housing and neighborhoods: an overview of recent trends

This paper was presented at the conference "Policies to Promote Affordable Housing," cosponsored by the Federal Reserve Bank of New York and New York University's Furman Center for Real Estate and Urban Policy, February 7, 2002. It was part of Session 1: State of New York City's Housing and Neighborhoods.Housing - New York (N.Y.) ; Federal Reserve District, 2nd ; Demography ; Rent ; Metropolitan areas - Statistics

How Emission Certificate Allocations Distort Fossil Investments: The German Example

Despite political activities to foster a low-carbon energy transition, Germany currently sees a considerable number of new coal power plants being added to its power mix. There are several possible drivers for this "dash for coal", but it is widely accepted that windfall profits gained through free allocation of ETS certificates play an important role. Yet the quantification of allocation-related investment distortions has been limited to back-of-the envelope calculations and stylized models so far. We close this gap with a numerical model integrating both Germany's particular allocation rules and its specific power generation structure. We find that technology specific new entrant provisions have substantially increased incentives to invest in hard coal plants compared to natural gas at the time of the ETS onset. Expected windfall profits compensated more than half the total capital costs of a hard coal plant. Moreover, a shorter period of free allocations would not have turned investors' favours towards the cleaner natural gas technology because of preexisting economic advantages for coal. In contrast, full auctioning of permits or a single best available technology benchmark would have made natural gas the predominant technology of choice.Emissions trading, Allocation rules, Power markets, Investments