From the Cover
Pandemic Mortgage Forbearance Design: A Practitioner’s Perspective
Federal housing finance assistance during COVID avoided problems that plagued similar assistance in the Great Recession.
Behind the Issue
Unintended Consequences
The Podcast of Regulation
In this episode of the Unintended Consequences podcast, we start by investigating whether railroads are making excessive profits by cutting back labor expenses. That’s the subject of Peter’s new paper, which is particularly timely given the reaction to the train derailment in eastern Ohio. Then, Mark Calabria joins to discuss his cover article about his time as the head of the Federal Housing Finance Agency and the steps he took to prevent a mortgage meltdown during the pandemic. Finally, Peter and Paul tackle the limits of zoning reform as a solution for runaway housing inflation.
Immigration Reform
Immigration Reform: Introduction
While immigration remains a contentious issue in Congress, the skilled labor shortage continues to constrain the U.S. economy
Immigration Reform: Make H‑4 Visa Holders’ Permission to Work Permanent
A bipartisan bill introduced last April by Reps. Carolyn Bourdeaux (D–GA) and Maria Elvira Salazar (R–FL) called the “H‑4 Work Authorization Act” would have granted H‑4 visa holders automatic work authorization without needing to apply for an EAD
Immigration Reform: Use USMCA Temporary Entry
There is no single solution to the current mismatches in the labor market
Immigration Reform: Eliminate the Application Backlog
While making immigrants pay entirely for their own processing costs may seem fair, this financing model means that the agency has little to no capacity to increase resources to catch up when it falls behind
Immigration Reform: Reform H‑1B Visas and Green Cards
The H‑1B visa’s restrictions are harming U.S. competitiveness and innovation
Features
The Origins of the Novice Administrative State
The earliest regulatory commissions substituted for juries, and like juries they were not supposed to be experts.
Understanding the Railroads-Unions Fight
Underlying last fall’s labor standoff is the highly competitive U.S. freight transport sector
Allowing Slaughter-Free Meat
Federal regulation is hindering the development of food from cell culture technology
Briefly Noted
Is Grid Modernization Always Cost Effective?
Grid Modernization (GM) can have different meanings, but it generally refers to actions making the electricity system more resilient, responsive, and interactive
How to End the Kidney Shortage
Few if any of these news stories lamenting the kidney shortage or touting hightech breakthroughs mention that we already have a solution to the shortage: compensating kidney donors to induce more supply
Which Is Better, a Larger or Smaller Population?
A major economic argument in support of population growth is that, ceteris paribus, more humans mean more trading partners and thus better opportunities for all.
Psychedelics, the DEA, and Regulating Religion
The DEA cannot totally be blamed for failing to address the growing number of religious communities that use federally illegal drugs.
Where Are the Retirement Tontines?
The guarantees provided by insured annuities are expensive.
