Takeaway: By tracing suburban Chicago’s zoning codes and land subdivision records from 1921 to 1980, researchers demonstrate that local zoning laws played a decisive role in shaping the modern suburb—drastically cutting the supply of apartments and commercial shops while inflating lot sizes decades earlier than previously assumed. Key Points Zoning crowded out mixed uses: Areas developed under zoning dedicated over 80% of their land to detached single-family homes and only 5%

Takeaway: Conventional economic wisdom holds that when a central bank cuts interest rates, commercial banks lower their own lending rates to encourage borrowing. However, new research shows that because of how central banks shift market liquidity, rate cuts can actually cause heavily constrained banks to raise loan rates and reduce lending. Key Points Policy Mechanism: Central banks change interbank interest rates by buying or selling government bonds, which directly alters t

By Nate Griffin – November 19th, 2021 Despite predictions that 2021 would be a year of higher auto repossessions, new numbers show that...