Recent Analysis and Research

Posted March 2, 2015
David Neumark and Helen Simpson

Economic Letter a Publication of Economic Research

Place-based policies such as enterprise zones offer economic incentives to firms to create jobs in economically challenged areas. Evidence on the effectiveness of enterprise zones is mixed. There is no clear indication that they successfully create jobs. However, positive effects are evident for other policies, including discretionary subsidies that target specific firms, infrastructure spending that targets specific areas, and investment in higher education and university research.

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Posted February 23, 2015
Andrew K. Rose and Mark M. Spiegel

Working Papers a Publication of Economic Research

We explore the relationship between inflation and the bond market. Bond holders are exposed to capital losses through inflation and represent a potential anti-inflationary force; we ask whether their influence is apparent using a simple theoretical model where bond issuance leads to political pressure on the government to choose a lower inflation rate. We then check empirical data before and after the introduction of a domestic bond market. Inflation-targeting countries with a bond market experience inflation approximately 3-4 percentage points lower than those without one.

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The New Geography of Jobs (EiP)

Posted April 30, 2014

The New Geography of Jobs

In the 1950s, the best indicator of a community's economic success was its level of physical capital. In today's world, the best indicator of a community's economic success is human capital. Professor Enrico Moretti discusses the factors shaping community development and the pivotal role of college-educated workers.

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