Steven Bond-Smith | 🇳🇿 🇦🇺 HI 🤙🏻
@StevenBondSmith
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Assistant Prof. @uhmanoa @UHEROnews | Co-Editor @spatialeconomic | Adjunct @BankwestCurtin | @waikato alum | Economics of regions and growth | Usual disclaimers
Honolulu, HI
Joined October 2019
There is a glowing article about @UHEROnews this morning from @chadblairCB at @CivilBeat. I'm so proud to be part of this team.
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Come work with me at UHERO!. We're looking for someone with a background in macro/regional/forecasting to join our forecasting team and someone with a background in tax
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RT @mattkahn1966: Interesting! The rise of WFH creates a new type of "Competitive Fringe" for center cities. IO economists have studied h….
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What does that mean for your town or city?. Check out the paper and have a think:.11/.
onlinelibrary.wiley.com
In this article, we set out the relationships between the behavioral and spatial responses to working from home. The analytical framework centres explicitly on the choice of commuting frequency as...
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In fact, isolated places may lose out. They can’t offer the same benefits to hybrid workers as big, well-connected cities. We found this in Sweden:.People in WFH-compatible jobs move closer to the 3 biggest cities. 10/.
productivity.ac.uk
A Working Paper exploring new and significant economic geography features of the work-from-home revolution.
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That means WFH probably reinforces the dominance of large cities. Not decentralization. Not a “work from anywhere” world. 9/.
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If you’re in a small town, WFH doesn’t help much—you’re already close. But maybe you now take a job in a bigger city. If you’re in a big city, you might move to the edge and save on rent. Either way: gains are bigger in big cities. 8/.
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So, unlike what many people think, working from home doesn’t make small towns more attractive. It makes big cities more attractive. (Or at least, their metro areas.) 7/.
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When we let remote work vary by location, the donut effect gets stronger in larger cities. Bigger cities = bigger traffic/time costs = more benefit from working from home. 6/.
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But then people start moving to take advantage of this flexibility. Further away = cheaper rent + fewer commutes. That’s the donut effect. This is well known. But… 5/.
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We take the standard urban model but assume people can choose how often they commute. People further from work… commute less. People closer in… commute more. Makes sense. 4/.
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You’d probably consider jobs a bit further away than today. Even if the occasional commute is annoying, remote work (and perhaps a bigger salary) makes it worth it. That’s the starting point for our model. 3/.
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If you live far away or traffic is awful, you probably avoid commuting as much as possible. If you live nearby, working from home doesn’t change much. Now ask:.Where would you take a job if it only required the occasional commute? 2/.
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How often do you work from home?.Probably depends on where you live and where your job is. But if everyone thinks like that, what does it mean for cities and regions?.🚨New research🚨 What types of places benefit most from remote and hybrid work? 1/.
onlinelibrary.wiley.com
In this article, we set out the relationships between the behavioral and spatial responses to working from home. The analytical framework centres explicitly on the choice of commuting frequency as...
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An excellent choice.
stuff.co.nz
Former All Blacks forward Jono Gibbes has replaced Clayton McMillan as Chiefs head coach.
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Work requirements for healthcare, whether it's employer-paid or public, just seem weird and cruel to me. Like do they think someone without a job doesn't need healthcare? Or that having healthcare means someone doesn't have an incentive to get a job? Both hypotheses are absurd.
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So many parallels with Hawaii;. Beautiful, isolated and expensive: US expats on life in New Zealand
theguardian.com
Americans are showing renewed interest in moving to NZ. Those who have made the leap love its free healthcare and natural beauty, but warn fleeing is not a ‘golden parachute’
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RT @TheEconomist: The government may not be able to reverse the trend
economist.com
The government may not be able to reverse the trend
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As any economist knows, investing based on consensus is silly because that info is already embedded in the price. The only ones who made money on that info did it ahead of the change in forecast/consensus. It doesn't mean the consensus is wrong—it means the market is efficient.
@_kxdyn @ericadyork Anyone in finance understands their aim is not to make money and sure maybe that’s noble in cases. As I’d side with Charlie on, our ability to forecast economic variables is awful. So investing based on economic consensus or forecasts is silly. Millionaire is not some status.
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While I left New Zealand for many of the same reasons, it's ironic that all of these also apply to Hawaii, if not more so.
theguardian.com
Despite the food and scenery, on a visit home this year I was struck by the many drawbacks, from housing to transport, says freelance journalist Elle Hunt
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RT @StuartBDonovan: New Zealand has had a housing shortage for so long it has fostered a cohort of entitled property owners and landlords w….
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