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Richmond Fed Publication Examines the Economics of Housing
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RICHMOND, VA -- (Marketwire) -- 01/08/09 -- Owning a home is often referred to as "theAmerican Dream." And, in fact, homeownership is often beneficial toindividual families and society as a whole. But America's highhomeownership rate has been driven in part by public policies that havelikely led to costly distortions in the market. The cover story of this issue of Region Focus considerswhat could be done to help eliminate those distortions and improve thefunctioning of the U.S. housing market.
Also in this issue:
-- A Market for Carbon: One of the most interestingdebates in environmental economics pits supporters of a carbon tax againstthose who prefer a cap-and-trade policy. Yet, as the economists ponder, acoalition of Northeastern states has embarked on a unique experiment tocreate a market for carbon permits.
-- Immigrant Entrepreneurs: A quarter ofventure-capital backed firms in the United States were founded byimmigrants. Many of these are high-tech and engineering companies. Themodern U.S. economy seems to be driven in large part by businesses startedby newcomers.
Region Focus, a quarterly business magazine published by the FederalReserve Bank of Richmond, covers the economy and business activities of theDistrict of Columbia, Maryland, North Carolina, South Carolina, Virginia,and most of West Virginia.
For free copies of Region Focus, contact the Bank's Public AffairsDepartment at 804.697.8109. The articles are available online athttp://www.richmondfed.org/publications/.
Contact:Aaron SteelmanEditorRegion FocusPhone: 804.697.2658Federal Reserve Bank of RichmondEmail Contact
-- A Market for Carbon: One of the most interestingdebates in environmental economics pits supporters of a carbon tax againstthose who prefer a cap-and-trade policy. Yet, as the economists ponder, acoalition of Northeastern states has embarked on a unique experiment tocreate a market for carbon permits.
-- Immigrant Entrepreneurs: A quarter ofventure-capital backed firms in the United States were founded byimmigrants. Many of these are high-tech and engineering companies. Themodern U.S. economy seems to be driven in large part by businesses startedby newcomers.
Region Focus, a quarterly business magazine published by the FederalReserve Bank of Richmond, covers the economy and business activities of theDistrict of Columbia, Maryland, North Carolina, South Carolina, Virginia,and most of West Virginia.
For free copies of Region Focus, contact the Bank's Public AffairsDepartment at 804.697.8109. The articles are available online athttp://www.richmondfed.org/publications/.
Contact:Aaron SteelmanEditorRegion FocusPhone: 804.697.2658Federal Reserve Bank of RichmondEmail Contact
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