Efficiency and equity have always been the key dilemma in local economic developments. On the one hand, economic prosperity is crucial for sustainable growth; on the other hand, the neighborhoods might undergo gentrification, transforming the area to appeal to high-end markets. Hence, vulnerable or indigenous residents might face displacements, and...
This dissertation is a wide-ranging study on real estate and the effect of financial constraints on economic activity. In the first chapter, I use granular data on home builder housing developments to provide new evidence that firms spread negative revenue shocks across projects via their internal capital markets. I analyze...
This thesis analyzes the role segregation and white flight played in the development of New York City’s suburban Westchester County, particularly in regards to how white flight from (and within) New Rochelle during the 1940s, 1950s, and 1960s was presaged by the racial reification of the suburb’s communal boundaries during...