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Essays on housing policy and community development.

机译：关于住房政策和社区发展的论文。

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This dissertation contains three essays on housing policy and community development. Chapter 1 examines whether a 1992 Act that forced Fannie Mae and Freddie Mac to purchase loans from underserved populations contributed to the subprime mortgage crisis. Chapter 2 examines whether programs that provide housing assistance to homeless people can reduce chronic homelessness. Finally, chapter 3 examines whether municipal governments manipulate fiscal policy in election years.;The 1992 "GSE Act" mandated that a specified percentage of Fannie Mae and Freddie Mac purchases come from underserved populations. A number of prominent observers have pointed to the GSE Act as a root cause of the recent housing crisis. Chapter 1 evaluates the link between the GSE Act and relaxed mortgage market standards. Using loan application-level data from the Home Mortgage Disclosure Act, I analyze whether the GSE Act's affordable housing goals altered mortgage lending or purchasing decisions. To identify this effect, I use a regression discontinuity design that exploits arbitrary cutoffs used to determine whether a loan satisfies the GSE Act goals. I find that the GSE Act's affordable housing goals had little to no effect on mortgage lending or purchasing. Additionally, using census tract-level data, I find no relationship between the GSE Act's affordable housing goals and increased foreclosures, vacancies or other housing outcomes. These results suggest that the 1992 GSE Act had a negligible effect on the recent mortgage market crisis.;Chapter 2 examines whether programs that provide housing assistance to homeless people can reduce chronic homelessness. I analyze data from the Department of Housing and Urban Development for 130 communities across the U.S. over the period 2005 to 2007. Because the amount of federal money allocated to a community to combat homelessness may depend on unobserved characteristics of that community, I estimate a fixed effects model which examines the effect of new federal homeless funding on chronic homelessness. I find that increased funding for homeless programs can reduce chronic homelessness. A ;Chapter 3 examines whether municipal governments manipulate fiscal policy in election years. According to the political budget cycle hypothesis, in election years government officials engage in opportunistic fiscal policy manipulation for electoral gains. This paper tests that hypothesis using data on taxes and spending for a panel of 268 US cities over the period 1970-2004. While our estimates provide no evidence of altered total expenditures or taxes in election years, we do find evidence of election-year manipulation of employment. We find a 0.7 percent increase in total municipal employment, including increases in police, education, and sanitation employment.
机译：本文包含有关住房政策和社区发展的三篇论文。第1章研究了1992年的一项法案，该法案是否迫使房利美和房地美向服务不足的人群购买贷款是否促成了次级抵押贷款危机。第2章研究了为无家可归者提供住房援助的计划是否可以减少长期的无家可归者。最后，第3章研究了市政府在选举年中是否实施了财政政策。； 1992年的《 GSE法案》规定，一定比例的房利美和房地美购房服务对象不充分。许多著名观察家指出，《 GSE法》是近期住房危机的根本原因。第1章评估了GSE法案与宽松的抵押贷款市场标准之间的联系。我使用《住房抵押贷款披露法》中的贷款申请级别数据，分析了GSE法案的经济适用房目标是否改变了抵押贷款或购买决策。为了确定这种影响，我使用了回归不连续性设计，该设计利用了用于确定贷款是否满足GSE法案目标的任意临界值。我发现《 GSE法案》的经济适用房目标对抵押贷款或购买几乎没有影响。此外，使用人口普查数据，我发现《 GSE法案》的经济适用房目标与止赎，空置或其他住房结果的增加之间没有关系。这些结果表明，《 1992年GSE法案》对最近的抵押贷款市场危机的影响可忽略不计。第二章研究了为无家可归者提供住房援助的计划是否可以减少长期的无家可归者。我分析了美国住房和城市发展部2005年至2007年期间针对130个社区的数据。由于分配给社区以对抗无家可归者的联邦资金总额可能取决于该社区的未被观察到的特征，因此我估计效应模型，研究了新的联邦无家可归资金对慢性无家可归者的影响。我发现增加对无家可归者计划的资助可以减少长期的无家可归者。 ;第3章研究了市政府在选举年是否操纵财政政策。根据政治预算周期假说，在选举年中，政府官员为了获得选举收益而进行了机会主义的财政政策操纵。本文使用1970年至2004年期间美国268个城市的税收和支出数据检验了该假设。虽然我们的估计没有提供选举年总支出或税收发生变化的证据，但我们确实发现了选举年操纵就业的证据。我们发现市政总就业人数增加了0.7％，其中包括警察，教育和卫生工作的人数增加。

著录项

  • 作者

    Moulton, Shawn R.;

  • 作者单位

    University of Notre Dame.;

  • 授予单位 University of Notre Dame.;
  • 学科 Economics General.;Political Science General.;Sociology Public and Social Welfare.
  • 学位 Ph.D.
  • 年度 2011
  • 页码 167 p.
  • 总页数 167
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

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