2026-08-05 02:51:23
We estimate the economic value of zoning reform in São Paulo, which altered maximum permitted construction along transportation corridors. Developers increased filings for multifamily construction in blocks affected by the reform, leading to more housing supply and lower housing prices in neighborhoods that allow more densification. Our equilibrium model of housing markets estimates an aggregate 1.6 percent increase in housing stock and a 0.4 percent reduction in prices, resulting in large housing wealth transfers from current to future homeowners. The reform produced welfare gains of 0.65 percent of city GDP, mostly due to developer profits and consumer gains from the newly built environment.
That is from the AEA policy journal, by Santosh Anagol, Fernando Ferreira, and Jonah Rexer.
The post Estimating the Economic Value of Zoning Reform appeared first on Marginal REVOLUTION.
2026-08-04 23:29:06
1. Selecting innovation funding mechanisms.
3. Famous radio station goes all-automated.
5. ChinaTalk submission hiring contest.
6. New Hamilton faculty at University of Florida, 21 of them.
7. Battery in your backyard? (WSJ)
8. How Americans are talking to Claude about politics.
The post Tuesday assorted links appeared first on Marginal REVOLUTION.
2026-08-04 14:23:41
We study the effects of H-1B immigration on U.S. industries that employ H-1B workers and their trading partners. Using a novel cross-industry design and the 1999–2003 expansion of the H-1B visa cap for identification, we find that H-1B exposure raised incomes for natives and pre-existing immigrants, with gains concentrated in non-STEM occupations. Income gains propagate forward through supply chains to downstream industries but not backward to upstream industries, consistent with a productivity shock rather than a labor supply shock. We find no direct effect on patenting, suggesting that productivity gains arise from better task execution rather than patentable invention.
That is from a new NBER working paper by
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2026-08-04 13:16:58
Oisin O’Gorman, 15, Dublin, misinformation and fakes.
Karsen Lee Wahal, Stanford, is AI killing the web?, and measuring media slant.
Davy Deng, with Claire Wang (previous winner), whole brain emulation, MIT.
Enej Grmek, 16, Ljubljana, privacy.
Vladimir Shmelev, Ukraine, Ukrainian children for relief trips to Montenegro.
Nik Verma, Chicago, a legal framework for AI agents.
Emirhan Demir and Çınar Yıldırım, Istanbul area, 19, protection against AI agents.
Midhat Doruk, 14, Ankara, longevity, biology, and skin cosmetics.
Burak Yilmaz, 17, Diyarbarkir, Turkey, browser-native authentication.
Lloyd Strickland, London, to publish the remaining Leibniz papers, including on computation.
Abdul Quyum, 15, Perth, organizing information and data.
Catharine Young, podcast on women in science, science communication tranche, Cambridge/DC.
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2026-08-04 02:32:18
We study the demand for safety and liquidity in the crypto ecosystem. We do so under a framework in which a representative investor allocates liquidity across stablecoin deposits in lending pools and traditional safe assets (e.g., MMF shares). Our model delivers three main predictions: (i) the stablecoin deposit premium co-moves with the Treasury premium when investors value the safety and liquidity services of stablecoins; (ii) increases in Treasury supply reduce the stablecoin deposit premium; and (iii) drops in the perceived safety and liquidity of stablecoin deposits (e.g., due to de-pegs or hacker attacks) reduce their premium. Using granular data from hundreds of DeFi pools spanning multiple protocols, tokens, and blockchains, we find evidence supporting these predictions. Investors treat stablecoin deposits as money-like instruments that are borderless and permissionless, yet as fragile as other forms of privately produced safe assets.
That is from a new NBER working paper by
The post How does the market regard stablecoins? appeared first on Marginal REVOLUTION.
2026-08-03 23:43:56
2. PC on aesthetics.
3. An interview with Yiyang Zhuge.
4. The truth and aesthetics of going to church?
5. Some forms of math cope? And a different view.
The post Monday assorted links appeared first on Marginal REVOLUTION.