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Binder K.E.,Federal Reserve Bank of Chicago | Mjelde J.W.,Texas A&M University | Woodward R.T.,Texas A&M University
Electricity Journal | Year: 2016

Renewable portfolio standards have been promoted and implemented as market-based incentives for encouraging renewable generation. Markets for RECs in Massachusetts and Connecticut do not consistently behave according to hypothesized fundamentals. Regardless of the reason for this divergence, one must be skeptical that the two state programs have created an efficient, fundamental-driven market. © 2016 Elsevier Inc. Source


Klier T.,Federal Reserve Bank of Chicago | McMillen D.,Urbana University
Growth and Change | Year: 2015

Motor vehicle and motor vehicle parts production tend to exhibit a strong degree of agglomeration. We estimate a location model utilizing detailed plant-level data for over 1,700 European locations of the largest motor vehicle parts suppliers, as well as the location of all light vehicle assembly plants operational in 2010. This unique data set allows us to estimate a location model for the region at a significantly higher level of resolution than the previous literature. The results suggest that the main forces of agglomeration in the European auto supplier sector are highway access and the desire to locate near assembly plants as well as near other parts-producing plants. © 2015 Wiley Periodicals, Inc. Source


Klier T.,Federal Reserve Bank of Chicago | Linn J.,Resources for the Future
Journal of Environmental Economics and Management | Year: 2013

Several recent papers have documented an effect of fuel prices on new vehicle fuel economy in the United States. This paper estimates the effect of fuel prices on average new vehicle fuel economy for the eight largest European markets. The analysis spans the years 2002-2007 and uses detailed vehicle registration and specification data to control for policies, consumer preferences, and other potentially confounding factors. We find fuel prices to have a statistically significant effect on average new vehicle fuel economy in Europe. The effect estimated for Europe is much smaller than comparable estimates for the United States. © 2013 Elsevier Inc. Source


Sander W.,DePaul University | Testa W.A.,Federal Reserve Bank of Chicago
Annals of Regional Science | Year: 2013

Using data on individuals from the 2008 American Community Survey, we examine the relationship between educational attainment and the location of jobs in fifteen large metropolitan areas in the United States. We focus on whether individuals with higher educational attainment tend to work in the central city versus the suburbs, and we do so taking into account the residential location of households (central city vs suburb). We show that central cities tend to be the work site of more highly educated workers-those with a bachelor's degree and above. Workers with less than a high school degree also tend to work in the city. Taking account of the residential location preferences of highly educated workers mildly diminishes the direct effect of higher education on city job location, but it does not negate it. In contrast, central city job opportunities for workers with less than a high school education are not so abundant; these workers tend to work in the city mostly because they also live there. © 2012 Springer-Verlag. Source


Sander W.,DePaul University | Testa W.,Federal Reserve Bank of Chicago
Papers in Regional Science | Year: 2015

The location of households within metropolitan areas has been a topic of interest for many decades. It has been receiving more attention by researchers recently because of the increasing attractiveness of many cities in the United States to certain types of households and to certain types of jobs. This study considers whether 15 large cities and the boroughs of New York City are attractive to families with school-age children, especially those with college-educated parents. It is shown that overall more affluent and educated families with school-age children are less likely to live in many large central cities with a few important exceptions. Resumen: La ubicación de los hogares dentro de las áreas metropolitanas ha sido un tema de interés durante muchas décadas. Recientemente ha venido recibiendo más atención por los investigadores debido al atractivo creciente de muchas ciudades de los Estados Unidos para ciertos tipos de hogares y ciertos tipos de trabajos. Este estudio considera si 15 grandes ciudades y los 5 distritos de la ciudad de Nueva York son atractivos para las familias con hijos en edad escolar, especialmente aquellas en las que el padre o la madre tienen educación universitaria. Se muestra que, en general, las familias más pudientes y mejor educadas con niños en edad escolar son menos propensas a vivir en muchas de las grandes ciudades centrales, salvo algunas excepciones importantes. © 2015 The Author(s). Papers in Regional Science © 2015 RSAI. Source

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