458
Views
5
CrossRef citations to date
0
Altmetric
Special Issue Papers

Interventionist responsibilities for the emergence of the US housing bubble and the economic crisis: ‘neoliberal deregulation’ is not the issue

Pages 1295-1312 | Received 15 Mar 2016, Accepted 16 Mar 2016, Published online: 06 Apr 2016

References

  • Alexander, E. (2012). Towards a dialectic theory of planning: Nomocracy vs. Teleocracy – A synthesis. Progress in Planning, 77(2), 37–87. doi:10.1016/j.progress.2011.12.001
  • Allison, J. A. (2013). The financial crisis and the free market cure. Chicago, IL: McGraw-Hill.
  • Anthony, J. (2006). State growth management and housing prices. Social Science Quarterly, 87(1), 122–141. doi:10.1111/j.0038-4941.2006.00372.x
  • Ben-Joseph, E. (2003). Subdivision regulations: Practices and attitudes. Working paper. Cambridge, MA: Lincoln Institute of Land Policy.
  • Ben-Joseph, E. (2005). On standards. In E. Ben-Joseph, & T. Szold (Eds.), Regulating place (pp. 1–14). London: Routledge.
  • Campbell, J. L. (2010). Neoliberalism in crisis. In M. Lounsbury, & P. Hirsch (Eds.), Markets on trial (pp. 65–103). Bingley: Emerald.
  • Cardarelli, R., Igan, D., & Rebucci, A. (2008). The changing housing cycle and the implications for monetary policy. In IMF Research Department, World economic outlook: Housing and the business cycle (pp. 103–132). Washington, DC: International Monetary Fund.
  • Cheung, R., Ihlanfeldt, K., & Mayock, T. (2009). The regulatory tax and house price appreciation in Florida. Journal of Housing Economics, 18, 34–48. doi:10.1016/j.jhe.2009.02.002
  • Competitive Enterprise Institute. (2014). Ten thousand commandments. Retrieved April 20, 2015, from http://cei.org
  • Cox, W. (2008). How smart growth exacerbated the international financial crisis. Retrieved July 30, 2015, from http://www.heritage.org
  • Cox, W. (2011). The housing crash and smart growth. (Policy Report No. 335). National Center for Policy Analysis.
  • Cox, W. (2012). Regolamentazione dell’uso del suolo e mercato immobiliare. In S. Moroni (Ed.), La città rende liberi (pp. 69–85). Torino: IBL.
  • Crouch, C. (2011). The strange non-death of neoliberalism. Cambridge: Polity Press.
  • Davidson, S. (2010). Imprudent lending and the sub-prime crisis. Griffith Law Review, 19(1), 105–116. doi:10.1080/10854671.2010.10854671
  • Derossett, D. L. (2015). Free markets and foreclosures: An examination of contradictions in neoliberal urbanization in Houston, Texas. Cities, 47, 1–9. doi:10.1016/j.cities.2014.10.002
  • Dowd, K. (2009). Moral hazard and the financial crisis. Cato Journal, 29(1), 141–166.
  • Ellickson, R. E. (1973). Alternatives to zoning: Covenants, nuisance rules, and fines as land use controls. The University of Chicago Law Review, 40(4), 681–781. doi:10.2307/1599220
  • Ely, B. (2009). Bad rules produce bad outcomes. Cato Journal, 29(1), 93–114.
  • Ferguson, N. (2013). The great degeneration. New York, NY: Penguin.
  • Foldvary, F. (2007). The depression of 2008. Berkeley, CA: The Gutenberg Press.
  • Gjerstad, S., & Smith, V. L. (2009). From bubble to depression? The Wall Street Journal, April 6.
  • Gjerstad, S., & Smith, V. L. (2014). Rethinking housing bubbles. Cambridge: Cambridge University Press.
  • Glaeser, E., & Gyourko, J. (2002). Zoning’s steep price. Regulation, 25, 24–30.
  • Glaeser, E., & Gyourko, J. (2003). The impact of building restriction on housing affordability. FRBNY Economic Policy Review, 9(2), 21–38.
  • Glaeser, E., & Gyourko, J. (2005). Why is Manhattan so expensive? The Journal of Law and Economics, 48, 331–369. doi:10.1086/429979
  • Glaeser, E. L., & Ward, B. A. (2009). The causes and consequences of land use regulation: Evidence from Greater Boston. Journal of Urban Economics, 65, 265–278. doi:10.1016/j.jue.2008.06.003
  • Hanke, S. (2011). Monetary misjudgments and malfeasance. Cato Journal, 31(3), 473–484.
  • Hardaway, R. M. (2011). The great American housing bubble. Santa Barbara, CA: Praeger.
  • Hart, J. F. (2011). Half a century of cropland change. Geographical Review, 91(3), 525–543. doi:10.2307/3594739
  • Haughwout, A., Peach, R. W., Sporn, J., & Tracy, J. (2013). The supply side of the housing boom and bust of the 20002. In E. L. Glaeser, & T. Sinai (Eds.), Housing and the financial crisis (pp. 69–104). Chicago, IL: University of Chicago Press.
  • Holcombe, R. G. (2013). Planning and the invisible hand: Allies or adversaries? Planning Theory, 12(2), 199–210. doi:10.1177/1473095212458270
  • Holcombe, R. G. (in press). The economic crisis: Causes and considerations. In E. Heath, B. Kaldis, & A. Marcoux (Eds.), The Routledge companion to business ethics. London: Routledge.
  • Huang, H., & Tang, Y. (2010). Residential land use regulation and the U.S. housing price cycle between 2000 and 2009. (Working paper No. 11). Department of Economics, University of Alberta.
  • Ihlanfeldt, K. R. (2007). The effect of land use regulation on housing and land prices. Journal of Urban Economics, 61(3), 420–435. doi:10.1016/j.jue.2006.09.003
  • Ihlanfeldt, K. R., & Mayock, T. (2014). Housing bubbles and busts: The role of supply elasticity. Land Economics, 90(1), 79–99. doi:10.3368/le.90.1.79
  • ISPRA. (2014). Il consumo di suolo in Italia. Retrieved from www.isprambiente.gov.it
  • Katz, L., & Rosen, K. T. (1987). The interjurisdictional effects of growth controls on housing prices. The Journal of Law and Economics, 30, 149–160. doi:10.1086/467133
  • Kok, N., Monkkonen, P., & Quigley, J. M. (2014). Land use regulations and the value of land and housing: An intra-metropolitan analysis. Journal of Urban Economics, 81, 136–148. doi:10.1016/j.jue.2014.03.004
  • Kotz, D. M. (2009). The financial and economic crisis of 2008: A systemic crisis of neoliberal capitalism. Review of Radical Political Economics, 41(3), 305–317. doi:10.1177/0486613409335093
  • Krugman, P. (2005). That hissing sound. New York Times, August 8.
  • Latham, J., Cumani, R., Rosati, I., & Bloise, M. (2014). Global land cover SHARE (FAO). Retrieved August 20, 2015, from http://www.glcn.org.
  • Levine, N. (1999). The effects of local growth controls on regional housing production and population redistribution in California. Urban Studies, 36(12), 2047–2068. doi:10.1080/0042098992539
  • Lewis, M. K. (2009). The origins of the sub-prime crisis: Inappropriate policies, regulations, or both? Accounting Forum, 33, 114–126. doi:10.1016/j.accfor.2009.04.001
  • Lippit, V. D. (2014). The neoliberal era and the financial crisis in the light of SSA theory. Review of Radical Political Economics, 46(2), 141–161. doi:10.1177/0486613413497908
  • Listokin, D., & Hattis, D. B. (2005). Building codes and housing. Cityscape, 8(1), 21–67.
  • Malpezzi, S. (1996). Housing prices, externalities, and regulation in U.S. metropolitan areas. Journal of Housing Research, 7(2), 209–241.
  • Malpezzi, S., Chun, G. H., & Green, R. K. (1998). New place-to-place housing price indexes for U.S. metropolitan areas, and their determinants. Real Estate Economics, 26(2), 235–274. doi:10.1111/1540-6229.00745
  • Malpezzi, S., & Green, R. K. (1996). What has happened to the bottom of the US housing market? Urban Studies, 33(10), 1807–1820. doi:10.1080/0042098966385
  • Markham, J. W. (2010). The subprime crisis – A testmatch for the bankers: Glass-Steagall vs. Gramm-Leach-Bliley. University of Pennsylvania Journal of Business Law, 12(4), 1081–1134.
  • Mayer, C. J., & Somerville, C. T. (2000). Land use regulation and new construction. Regional Science and Urban Economics, 30(6), 639–662. doi:10.1016/S0166-0462(00)00055-7
  • Mazza, L. (2012). Spatial planning rules and regulations. Progress in Planning, 77(2), 60–71. doi:10.1016/j.progress.2011.12.001
  • McDonald, J. F., & Stokes, H. H. (2013). Monetary policy and the housing bubble. The Journal of Real Estate Finance and Economics, 46, 437–451. doi:10.1007/s11146-011-9329-9
  • McLaughlin, R. B. (2012). Land use regulation: Where have we been, where are we going? Cities, 29, S50–S55. doi:10.1016/j.cities.2011.12.002
  • Moroni, S. (2010). Rethinking the theory and practice of land-use regulation: Towards nomocracy. Planning Theory, 9(2), 137–155. doi:10.1177/1473095209357868
  • Moroni, S. (2012). Land-use planning and the question of unintended consequences. In D. E. Andersson (Ed.), The spatial market process (pp. 265–288). Bingley: Emerald.
  • Moroni, S. (2014). Complexity and the inherent limits of explanation and prediction: Urban codes for self-organising cities. Planning Theory, 14(3), 248–267. doi:10.1177/1473095214521104
  • Nickerson, C., Ebel, R., Borchers, A., & Carriazo, F. (2007). Major uses of land in the United States 2007. United States Department of Agriculture. Retrieved February 20, 2015, from www.ers.usda.gov.
  • O’Driscoll, G. P. (2008). Asset bubbles and their consequences. Cato Institute briefing paper, no. 103. Retrieved February 20, 2015, from http://object.cato.org/sites/cato.org/files/pubs/pdf/bp103.pdf
  • O’Driscoll, G. P. (2011). Money, prices, and bubbles. Cato Journal, 31(3), 441–449.
  • Oppenheimer, P. H. (2014). The taxpayer relief act of 1997 and the housing boom of the 21st century. Journal of Applied Business and Economics, 16(2), 112–122.
  • O’Toole, R. (2007). The planning tax. Policy Analysis, 606, 1–18.
  • O’Toole, R. (2009). How urban planners caused the housing bubble. Policy Analysis, 646, 2–27.
  • O’Toole, R. (2012). American nightmare. Washington, DC: Cato Insitute.
  • Palermo, P. C., & Ponzini, D. (2015). Place-making and urban development. New challenges for contemporary planning and design. London: Routledge.
  • Plosser, C. I. (2014). A limited central bank. Cato Journal, 34(2), 201–211.
  • Plosser, C. I., Jordan, J. L., Selgin, G. A., Orphanides, A., White, L. H., Timberlake, R. H., Sumner, S. B., et al. (2014). Was the fed a good idea? Cato Journal, Special Issue, 34(2), 201–433.
  • Pollakowski, H. O., & Watcher, S. M. (1990). The effect of land-use constraints on housing prices. Land Economics, 66(3), 315–324. doi:10.2307/3146732
  • Ponzini, D. (2008). New Italian perspectives on urban planning: A policy tool approach. Planum, December, 1–31.
  • Quigley, J. M., & Raphael, S. (2004). Is housing unaffordable? Why isn’t it more affordable? Journal of Economic Perspectives, 18(1), 129–162. doi:10.1257/089533004773563476
  • Quigley, J. M., Raphael, S., & Rosenthal, L. A. (2009). Measuring land use regulations and their effects in the housing market. In E. L. Glaeser, & J. M. Quigley (Eds.), Housing markets and the economy (pp. 271–300). Cambridge, MA: Lincoln Institute of Land Policy.
  • Saks, R. (2005). Job creation and housing construction. Washington, DC. Retrieved April 20, 2015, from http://www.federalreserve.gov
  • Schill, M. H. (2005). Regulations and housing development. Cityscape, 8(1), 5–19.
  • Slaev, A. D. (2015). Property rights and methods of nomocratic planning. Planning Theory, (OnlineFirst). doi:10.1177/1473095215583749
  • Slaev, A. D. (2016). Types of planning and property rights. Planning Theory, 15(1), 23–41. doi:10.1177/1473095214540651.
  • Smet, K. (2015). Housing prices in urban areas. Progress in Human Geography. doi:10.1177/0309132515581693.
  • Smith, V. L. (2009). Il nemico siamo noi. In A. Mingardi (Ed.), La crisi ha ucciso il libero mercato? (pp. 31–44). Torino: IBL.
  • Somerville, C. T., & Mayer, C. J. (2003). Government regulation and changes in the affordable housing stock. FRBNY Economic Policy Review, 9, June, 45–62.
  • Sowell, T. (2010). The housing boom and bust. New York, NY: Basic Books.
  • Supiot, A. (2010). A legal perspective on the economic crisis of 2008. International Labour Review, 149(2), 151–162. doi:10.1111/j.1564-913X.2010.00081.x
  • Taylor, J. B. (2009). Getting off track. Stanford: Hoover Institution Press.
  • Taylor, J. B. (2011). Monetary policy, economic policy and the financial crisis: An empirical analysis of what went wrong. In J. Friedman (Ed.), What caused the financial crisis (pp. 150–171). Philadelphia: University of Pennsylvania Press.
  • Thornton, M. (2009). The economics of housing bubbles. In R. G. Holcombe, & B. Powell (Eds.), Housing America (pp. 237–262). New Brunswick: Transaction.
  • U.S. Department of Housing and Urban Development. (1991). Not in my back yard. Removing barriers to affordable housing. Washington, DC: U.S. Department of Housing and Urban Development.
  • U.S. Department of Housing and Urban Development. (2005). Why not in our community? Removing barriers to affordable housing. Washington, DC: U.S. Department of Housing and Urban Development.
  • Wallison, P. J. (2011). Housing initiatives and other policy factors. In J. Friedman (Ed.), What caused the financial crisis (pp. 172–182). Philadelphia: University of Pennsylvania Press.
  • White, H. L. (2008). How did we get into this financial mess? Cato Institute briefing paper, no. 110. Retrieved February 20, 2015, from http://object.cato.org/.
  • White, L. J. (2009). Fannie Mae, Freddie Mac, and Housing. In R. G. Holcombe, & B. Powell (Eds.), Housing America (pp. 263–286). New Brunswick: Transaction.
  • White, L. J. (2010). The Gramm-Leach-Bliley Act of 1999. Suffolk University Law Review, 43(4), 943–946.
  • Woods, T. E. (2009). Meltdown. Washington, DC: Regnery.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.