Banking Deregulation as an Economic Development Policy Tool

Butkiewicz, James L.; Latham, William R.

doi:10.2307/1060326

Cited by 6 publications

(3 citation statements)

References 3 publications

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“…Given its importance, an existing literature studies its impact on credit-card interest rates, prots, consumer nance, and entrepreneurship (Ausubel 1991 Agency (FHFA) Index, CPS microdata, and various data from the U.S. census. Because the wage data are at the individual level, the synthetic control method employed 6 Several earlier papers study the eect of the FCDA (Butkiewicz and Latham [1991] and Abrams and Butkiewicz [2007]). These papers nd positive eects of the FCDA on Delaware's economy.…”

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confidence: 99%

Dynamic responses to labor demand shocks: Evidence from the financial industry in Delaware

Weinstein

2018

Journal of Urban Economics

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in ABSTRACTThis paper analyzes an important shock to local labor demand in the financial services sector: firm relocation to Delaware following a Supreme Court ruling and state legislation in the 1908s. Using synthetic controls and bordering states, I find significant effects on employment growth, the unemployment rate, and participation in the first decade. Employment spillovers to the nontradable sector and migration appear larger than estimates from shocks to the tradable sector. Effects persist for 10 to 20 years after Delaware loses its original policy-induced advantage. The shift towards a low unemployment sector explains this persistence, rather than direct productivity effects or agglomeration. JEL Classification Codes: R10, J20, G20Key Words: Labor demand shocks, regulatory competition, migration, local labor markets Acknowledgments:I am grateful to Kevin Lang, Daniele Paserman, and Johannes Schmieder for many helpful conversations. I am also thankful to Peter Ganong, Theresa Gutberlet, Walker Hanlon, Shawn Kantor, Enrico Moretti, Matt Notowidigdo, Ken Simons, Alex Whalley, and seminar participants at Rensselaer Polytechnic Institute, University at Albany, the University of Illinois at UrbanaChampaign, the Montreal Applied Economics Workshop, the RPI Conference on Regional Economic Growth, and the Urban Economics Association Annual Conference for useful comments. I thank Larry Katz for providing data on state unemployment rates before 1976, and David Swayze for useful institutional knowledge. I acknowledge financial support from the W.E. Upjohn Institute for Employment Research. Abstract This paper analyzes an important shock to local labor demand in thenancial services sector: rm relocation to Delaware following a Supreme Court ruling and state legislation in the 1980s. Using synthetic controls and bordering states, I nd signicant eects on employment growth, the unemployment rate, and participation in the rst decade. Employment spillovers to the nontradable sector and migration appear larger than estimates from shocks to the tradable sector. Eects persist for 10 to 20 years after Delaware loses its original policyinduced advantage. The shift towards a low unemployment sector explains this persistence, rather than direct productivity eects or agglomeration.JEL classication codes: R10, J20, G20

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confidence: 99%

Dynamic responses to labor demand shocks: Evidence from the financial industry in Delaware

Weinstein

2018

Journal of Urban Economics

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“…(We tried to keep a chapter from Glickman in our reproduced materials but could not obtain a copyright autholization.) The major articles we use for the theory of regional models include two on different versions of the Delaware model (Butkiewicz and Latham 1991;Latham et al 1979) and Roger Bolton's (1985) survey of econometric models. The last includes a very large number of references that students use effectively to find theoretical and practical guides for their own research in the course.…”

Section: William R Latham III University Of Delawarementioning

confidence: 99%

Teaching Undergraduate Regional Economics

Blair¹,

Bolton²,

Emerson³

et al. 1992

Review of Regional Studies

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At the 38th North American Meetings of the Regional Science Association International (RSAI) held in New Orleans in November 1991, a three-hour session was devoted to the teaching of regional economics. In this session, organized by James Kurre of Pennsylvania State University-Erie, eight individuals described “how” they teach the undergraduate regional economics course at their home institutions. Two panels were convened. In the first, John Blair, Roger Bolton, Jarvin Emerson, and Frank Giarratani described course structure and content. In the latter panel devoted to course projects, participants included Andrew Isserman, James Kurre, William Latham, and Karen Polenske. All of those participating in these presentations agreed that such an exchange of ideas was very beneficial and would likely be of interest to a larger audience than that attending the RSAI meetings. Given this potential interest, the editors asked the six participants who currently teach undergraduate regional economics within economics (as opposed to planning) departments to prepare short papers describing their courses for publication in the Review. Each author (teacher) was requested to comment upon: (1) the “goals” for his course, (2) the nature of the students in attendance, (3) the text employed as well as any supplementary reading material, (4) course content, and (5) any special projects or assignments. Although reading lists and other class material are not included in what follows,

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“…6 6 See, for example, Butkiewicz and Latham (1991), Krol and Svorny (1996), Feldmann (2006a, 2012a), Levchenko et al . (2009).…”

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Product Market Regulation and Labor Market Performance around the World

Feldmann

2012

Labour

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Using annual data on 80 countries for 1980–2007 and a new indicator of product market regulation, this paper studies the effects of product market regulation on labor market performance among the total population as well as among two important groups of labor market outsiders: women and youth. It finds that stricter regulation is likely to both increase the unemployment rate and decrease the employment rate. The magnitude of the estimated effects is substantial. There are above‐average effects on both groups of outsiders, with the effects being particularly strong on youth. The results are robust to variations in specification.

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Banking Deregulation as an Economic Development Policy Tool

Cited by 6 publications

References 3 publications

Dynamic responses to labor demand shocks: Evidence from the financial industry in Delaware

Dynamic responses to labor demand shocks: Evidence from the financial industry in Delaware

Teaching Undergraduate Regional Economics

Product Market Regulation and Labor Market Performance around the World

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