Local Governments' Response to Fiscal Shocks: Evidence from Connecticut

Giesecke, Oliver; Mateen, Haaris

doi:10.2139/ssrn.4185090

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Implications Of Remote Work Beyond Urban Office and Residential1

Introduction1

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2022

2023

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Cited by 2 publications

(2 citation statements)

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“…The magnitude of the doom loop depends on the elasticity of migration to local tax rates and public good spending. Giesecke and Mateen (2022) estimate substantial causal effects of property tax increases on residential migration. In a world where people can work remotely, these migration elasticities may be higher since people may not need to switch jobs to switch tax residence.…”

Section: Implications Of Remote Work Beyond Urban Office and Residentialmentioning

confidence: 99%

The remote work revolution: Impact on real estate values and the urban environment: 2023 AREUEA Presidential Address

Nieuwerburgh

2023

Real Estate Economics

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The covid‐19 pandemic induced a major shift in the prevalence of remote and hybrid work arrangements. This review article studies the effects of this remote work revolution for residential and commercial real estate values and for the future of cities. It also discusses consequences for productivity, innovation, local public finance, and the climate. The last part of the article discusses policy interventions.

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Section: Implications Of Remote Work Beyond Urban Office and Residentialmentioning

confidence: 99%

The remote work revolution: Impact on real estate values and the urban environment: 2023 AREUEA Presidential Address

Nieuwerburgh

2023

Real Estate Economics

View full text Add to dashboard Cite

show abstract

“…Zhang (2021) shows that local governments' pension deficits can impact households' savings and investment in safe assets. Giesecke and Mateen (2022) show that local governments respond to negative fiscal shocks due to a large decline of property values by increasing property tax rates. Adelino et al (2017) show that changes in local governments' financing costs can influence local governments' employment, as well as private sector employment and income.…”

Section: Introductionmentioning

confidence: 99%