Rust Belt Vs. Sun Belt Directions
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Competitive Pressure and the Decline of the Rust Belt: a Macroeconomic Analysis
Competitive Pressure and the Decline of the Rust Belt: A Macroeconomic Analysis Simeon Alder David Lagakos Lee Ohanian Notre Dame UCSD and NBER UCLA and NBER August 29, 2015 Abstract No region of the United States fared worse over the postwar period than the “Rust Belt,” the heavy manufacturing region bordering the Great Lakes. This paper hypothesizes that the Rust Belt declined in large part due to a lack of competitive pressure in its labor and output markets. We formalize this thesis in a two-region dynamic general equilibrium model, in which productivity growth and regional employment shares are determined by the extent of competition. Quantitatively, the model accounts for much of the large secular decline in the Rust Belt’s employment share before the 1980s, and the relative stabilization of the Rust Belt since then, as competitive pressure increased. Email: [email protected], [email protected], [email protected]. A previous version of this paper circu- lated under the title “The Decline of the U.S. Rust Belt: A Macroeconomic Analysis.” We thank Ufuk Akcigit, Marco Bassetto, Jesus Fernandez-Villaverde, Pablo Fajgelbaum, Jeremy Greenwood, Berthold Herrendorf, Tom Holmes, Alejandro Justiniano, Thomas Klier, Michael Peters, Andrea Pozzi, Ed Prescott, Andres Rodriguez-Clare, Leena Rudanko, Jim Schmitz, Todd Schoellman, Marcelo Veracierto, Fabrizio Zilibotti and seminar participants at Arizona State, Autonoma de Barcelona, Berkeley, Brown, British Columbia, the Bank of Chile, Chicago Booth, the Federal Reserve Banks of Atlanta, Chicago, Minneapolis, St. Louis and Richmond, Frankfurt, LSE, Notre Dame, NYU, Ohio State, Pennsylvania, UCLA, UCSB, UCSD, USC, Wharton, Yale, Zurich, the NBER Macroeconomics across Time and Space 2014 meeting, the NBER Summer Institute 2013 (EFBGZ and PRMP), GSE Summer Forum, 2013Midwest Macro meeting, February 2013 NBER EFG meeting, 2012 Einaudi Roma Macro Junior conference, and 2012 SED meeting (Cyprus) for helpful comments. -
Sun Belt Multifamily Portfolio III DST
Sun Belt Multifamily Portfolio III DST CONFIDENTIAL DST Interests are speculative, illiquid and involve a high degree of risk. This material is neither an offer to sell, nor the solicitation of an offer to buy any security, which can be made only by a Private Placement Memorandum (the Memorandum), dated March 18, 2020, and sold only by broker dealers and registered investment advisors authorized to do so. All potential investors must read the Memorandum, and no person may invest without acknowledging the receipt and complete review of the Memorandum. Investments are suitable for accredited investors only. Please see following page of this brochure for important disclosures. Summary Risk Factors An investment in the Interests of the Sun Belt Multifamily Portfolio III DST (the Parent Trust) involves significant risk and is suitable only for Investors who have adequate financial means, desire a relatively long-term investment and who will not need immediate liquidity for their investment and can afford to lose their entire investment. Investors must read and carefully consider the discussion set forth in the section of the Private Placement Memorandum (Memorandum) captioned “Risk Factors.” The risks involved with an investment in the Parent Trust include, but are not limited to: • The Interests may be sold only to accredited investors, which, for • The Space Coast Property is located in a “Hurricane Susceptible natural persons, are investors who meet certain minimum annual Region,” which increases the risk of damage to the Space Coast income or net worth thresholds. Property. • The Interests are being offered in reliance on an exemption from the • The Loans will reduce the funds available for distribution and increase registration requirements of the Securities Act of 1933, as amended, the risk of loss. -
The Decline of the Rust Belt
The Decline of the U.S. Rust Belt: A Macroeconomic Analysis Simeon Alder David Lagakos Lee Ohanian Notre Dame ASU UCLA January 31, 2013 Abstract No region of the United States fared worse over the post-war period than the “Rust Belt,” the heavy manufacturing zone bordering the Great Lakes. We argue that a lack of competition in labor and output markets in the Rust Belt were responsible for much of the region’s de- cline. We formalize this theory in a dynamic general-equilibrium model in which productivity growth and regional employment shares are determined by the extent of competition. When plausibly calibrated, the model explains roughly half the decline in the Rust Belt’s manufac- turing employment share. Industry evidence support the model’s predictions that investment and productivity growth rates were relatively low in the Rust Belt. Keywords: Rust Belt, competition, productivity, unionization, monopoly JEL codes: E24, E65, J3, J5, L16, R13 Email: [email protected], [email protected], [email protected]. We thank Ufuk Akcigit, Marco Bassetto, Pablo Fajgelbaum, Jeremy Greenwood, Berthold Herrendorf, Tom Holmes, Alejandro Justiniano, Thomas Klier, An- drea Pozzi, Ed Prescott, Jim Schmitz, Todd Schoellman, Marcelo Veracierto, Fabrizio Zilibotti and seminar partic- ipants at Arizona State, Autonoma de Barcelona, British Columbia, the Federal Reserve Banks of Chicago and St. Louis, Frankfurt, Notre Dame, Pennsylvania, UCLA, Zurich, the 2012 Einaudi Roma Macro Junior conference, and the 2012 SED meetings (Cyprus) for helpful comments. We thank Andrew Cole, Alex Hartman, Patrick Orr, Samin Peirovi, Billy Smith and especially Glenn Farley for excellent research assistance. -
Louisiana Men's Basketball Sun Belt Tournament History
Louisiana Men’s Basketball Sun Belt Tournament History 2000 Sun Belt Conference Tournament SUN BELT CONFERENCE TOURNAMENT CHAMPIONS Coach Jesse Evans Quarterfinals - Alltel Arena (Little Rock, Ark.) March 5 - (2) Louisiana 55, (7) New Orleans 35 Semifinals - Alltel Arena (Little Rock, Ark.) March 6 - (2) Louisiana 73, (3) Louisiana Tech 58 Championship - Alltel Arena (Little Rock, Ark.) March 7 - (2) Louisiana 51, (1) South Alabama 50 2001 Sun Belt Conference Tournament Coach Jesse Evans Quarterfinals - Mitchell Center (Mobile, Ala.) March 4 - (W2) Louisiana 63, (E3) Louisiana Tech 56 Semifinals - Mitchell Center (Mobile, Ala.) March 5 - (E1) Western Kentucky 82, (W2) Louisiana 75 2002 Sun Belt Conference Tournament SUN BELT CONFERENCE TOURNAMENT RUNNER-UP Coach Jesse Evans Quarterfinals - Lakefront Arena (New Orleans, La.) March 2 - (W1) Louisiana 74, (E4) Arkansas State 59 1992 Sun Belt Conference Tournament Semifinals - Lakefront Arena (New Orleans, La.) SUN BELT CONFERENCE TOURNAMENT CHAMPIONS March 4 - (W1) Louisiana 67, (E2) Arkansas-Little Rock 53 Coach Marty Fletcher Championship - Lakefront Arena (New Orleans, La.) Quarterfinals - Mississippi Coast Coliseum (Biloxi, Miss.) March 5 - (E1) Western Kentucky 76, (W1) UL 70 March 6 - (2) Louisiana 73, (7) New Orleans 69 (OT) Semifinals - Mississippi Coast Coliseum (Biloxi, Miss.) 2003 Sun Belt Conference Tournament March 7 - (2) Louisiana 64, (6) UALR 61 Coach Jesse Evans Championship - Mississippi Coast Coliseum (Biloxi, Miss.) Quarterfinals - E.A. Diddle Arena (Bowling Green, Ky.) March 8 - (2) Louisiana 75, (1) Louisiana Tech 71 March 8 - (W5) Denver 72, (W1) UL 68 1993 Sun Belt Conference Tournament 2004 Sun Belt Conference Tournament* Coach Marty Fletcher Coach Jesse Evans Quarterfinals - Mississippi Coast Coliseum (Biloxi, Miss.) Quarterfinals - E.A. -
The Rust Belt
America’s Siberia: An Introduction to the Rust Belt 14 April, 2017 Novosibirsk State Regional Scientific Library Presented by Brooks Rexroat Assistant Professor of English Marshall University, Huntington,W.V. Visiting Fulbright Scholar Novosibirsk State Pedagogical University 1 Where is the Rust Belt? 2 The Rust Belt: A History of the Name 1984 presiden.al candidate Walter Mondale is broadly credited with coining the term, which stuck as a largely derogatory term for blighted, post- industrial ci.es. In recent years, the term has come to stand for the resiliency of these communi.es, not their former hardships. 3 The Rust Belt: What Happened There? • A confluence of events: globalizaon, shiIed workforces, changing corporate strategies, and depleted resources in some regions. • A failure of communi.es to diversify. • An exodus of workers to other regions. Photo drawn from Ohio History Central 4 The Rust Belt: A Doomed System of Interconnection If ci.es originally thrived under single-industry produc.on, why did an en.re region falter instead of just select ci.es? The ci.es may have concentrated on a single produc.on method, but the en.re region was a system of heavy industry—each town connected to and sustained by its neighbor. As individual industries toSered, the en.re region buckled, unemployment skyrocketed, and those who could leave did so quickly, leaving the least skilled and most impoverished workers behind to cope with the wreckage of broken ci.es. 5 Rust Belt Cities and their Specialties Cleveland Ohio: Banking Hun.ngton, West Virginia: Railroad Cars and Coal Central Pennsylvania: Oil extrac.on Ashland, Kentucky: Oil refinery Charleston, W.V.: Chemical Produc.on PiSsburgh, Pennsylvania: Steel Produc.on Akron, Ohio: Rubber Produc.on Toledo, Ohio: Automo.ve Components Detroit: Vehicle Design and Produc.on Flint, Michigan: Automobile Assembly Dayton, Ohio: Aircra design and assembly 6 The Rust Belt: Key Traits • Single-industry towns, purpose-built for a now obsolete func.on • Heavy disparity between wealth and poverty. -
Rust Belt Cities Need Investment, Not Gentrification Worries — Strong Towns
7/23/2018 Rust Belt Cities Need Investment, not Gentrification Worries — Strong Towns ABOUTEXPLOREEVENTS SHOPLOCAL JOIN THE MOVEMENT R U S T B E LT CITIES NEED INVESTMENT, NOT GENTRIFICATION WORRIES APRIL 6, 2018 BY JASON SEGEDY The following essay by Strong Towns member and director of planning and urban development for the City of Akron, Ohio, Jason Segedy, is republished from the American Conservative with permission. https://www.strongtowns.org/journal/2018/4/6/rust-belt-cities-need-investment-not-gentrification-worries 1/8 7/23/2018 Rust Belt Cities Need Investment, not Gentrification Worries — Strong Towns There is a type of neighborhood that you never hear about in the gentrification story mostly told by writers living in the coastal centers of power. It is the type of neighborhood where the majority of ordinary people in ordinary cities like Akron actually live. This type of neighborhood is a lower-income, working-class, mixed-race community, comprised primarily of single-family homes, many of which are owner-occupied. The standard gentrification narrative is typically about affluent newcomers displacing existing lower-income residents—driving up housing prices, rents, and property taxes to A rubber factory building in Akron (Source: Jason Segedy) stratospheric heights. But there are millions of people throughout the cities of the Rust Belt living in neighborhoods with the opposite problem. They are lower-income, working-class homeowners, living in deteriorating homes, with no foreseeable prospects for property appreciation. The working poor living in these neighborhoods typically cannot afford to reinvest much in their property to begin with, and even the few who can often choose not to, because they will never come close to getting their money back. -
Removing the Rust: Comparative Post-Industrial Revitalization in Buffalo, Cleveland, and Pittsburgh Scott Icholn As Duryea Old Dominion University
Old Dominion University ODU Digital Commons Graduate Program in International Studies Theses & Graduate Program in International Studies Dissertations Spring 2015 Removing the Rust: Comparative Post-Industrial Revitalization in Buffalo, Cleveland, and Pittsburgh Scott icholN as Duryea Old Dominion University Follow this and additional works at: https://digitalcommons.odu.edu/gpis_etds Part of the Growth and Development Commons, Political Economy Commons, Political Science Commons, and the Urban Studies and Planning Commons Recommended Citation Duryea, Scott ..N "Removing the Rust: Comparative Post-Industrial Revitalization in Buffalo, Cleveland, and Pittsburgh" (2015). Doctor of Philosophy (PhD), dissertation, International Studies, Old Dominion University, DOI: 10.25777/3dpq-4x74 https://digitalcommons.odu.edu/gpis_etds/41 This Dissertation is brought to you for free and open access by the Graduate Program in International Studies at ODU Digital Commons. It has been accepted for inclusion in Graduate Program in International Studies Theses & Dissertations by an authorized administrator of ODU Digital Commons. For more information, please contact [email protected]. REMOVING THE RUST: COMPARATIVE POST-INDUSTRIAL REVITALIZATION IN BUFFALO, CLEVELAND, AND PITTSBURGH by Scott Nicholas Duryea B.A. May 2006, John Carroll University M.A. December 2009, East Carolina University M.A. July 2011, East Carolina University A Dissertation Submitted to the Faculty of Old Dominion University in Partial Fulfillment of the Requirements for the Degree of DOCTOR OF PHILOSOPHY INTERNATIONAL STUDIES OLD DOMINION UNIVERSITY March 2015 Approved by: David Earnest (Director) V) Simon Serfaty (Member) KwrrfFiler (Member) ABSTRACT REMOVING THE RUST: COMPARATIVE POST-INDUSTRIAL REVITALIZATION IN BUFFALO, CLEVELAND, AND PITTSBURGH Scott Nicholas Duryea Old Dominion University, 2015 Director: Dr. -
Seven Eagles Earn All-Sun Belt Honors
Georgia Southern University Digital Commons@Georgia Southern Athletics News Athletics 12-6-2017 Seven Eagles Earn All-Sun Belt Honors Georgia Southern University Follow this and additional works at: https://digitalcommons.georgiasouthern.edu/athletics-news-online Part of the Higher Education Commons Recommended Citation Georgia Southern University, "Seven Eagles Earn All-Sun Belt Honors" (2017). Athletics News. 1372. https://digitalcommons.georgiasouthern.edu/athletics-news-online/1372 This article is brought to you for free and open access by the Athletics at Digital Commons@Georgia Southern. It has been accepted for inclusion in Athletics News by an authorized administrator of Digital Commons@Georgia Southern. For more information, please contact [email protected]. Georgia Southern University Seven Eagles Earn All-Sun Belt Honors Bass, Brinson and Hunt make second-team All-SBC Football Posted: 12/6/2017 3:46:00 PM NEW ORLEANS – Seven Georgia Southern football players were honored by the league coaches and members of the media as the Sun Belt Conference announced Wednesday the selections for its all-conference teams. Sophomore kicker Tyler Bass, sophomore cornerback Monquavion Brinson and junior defensive lineman Logan Hunt were chosen for second-team All-Sun Belt Conference accolades. Four Eagles earned honorable mention recognition: Wesley Fields, Raymond Johnson III, Curtis Rainey and Shai Werts. "I'm excited for all of these guys to be recognized by the coaches and media around the conference for what they accomplished this year individually," head coach Chad Lunsford said. "What's even more exciting is that all seven of these guys will be back next year. With 18 starters on offense and defense projected to return next year, plus with the juice we have going on in the Ted Smith Family Football Center right now, I wish we could get out on the field right now and start spring ball. -
Native American Map “BERINGIA” the Native American Legacy
2/24/2011 Principal themes in the population geography of the U.S. and Canada • An ancient and ongoing Native American legacy. • A long and ongoing history of immigration, although sources and numbers have varied over time. • Significant regional differences in age, ethnicity, culture, and well-being. • Urbanization • Significant internal (U.S.) shift, including – Rural to urban – East to West – North to South (“rust belt” to “sun belt”) – Emptying of the Great plains Native American map “BERINGIA” The Native American Legacy • A diverse contemporary population • THE NAME REFERS TO THE CONTINENTAL SHELF AT THE BOTTOM OF THE BERING SEA, WHICH numbering about 4.1 million TODAY SEPARATES ALASKA FROM SIBERIA. • Numerous semi-autonomous • DURING THE ICE AGE(S) SEA LEVELS WERE AS reservations that varyyg greatly in size MUCH AS 450 FEET LOWER THAN THEY ARE TODAY. • A major impact on the nature and • WHEN THAT OCCURRED, THE BOTTOM OF extent of “natural vegetation” TODAY’S BERING SEA WAS DRY LAND THAT “CONNECTED” NORTH AMERICA AND ASIA. • Crop domestication • THIS ALLOWED THE ANCESTORS OF NATIVE • Trails to roads AMERICANS TO MIGRATE ON FOOT TO NORTH AMERICA FROM ASIA. • Toponyms (place names). 1 2/24/2011 Top Five Native American Groups (2000 U.S. Census) Cherokee 729,533 Navajo 298,197 Choctaw 158,774 Sioux 153,360 Chippewa 149,669 There are 310 Indian reservations in the United States and about 550 tribes that are officially recognized by the U.S. Bureau of Indian Affairs. Thus, not all tribes have a reservation. The reservations account for about 2.3% of the United States and vary greatly in size. -
State of the Midwest Heading Into 2020
State of the Midwest Heading into 2020 New Rust Belt Rising Polling from Michigan, Ohio, Pennsylvania, and Wisconsin: Health Care Concerns, Economic Uncertainty, and Presidential Dead Heat Summary: Rust Belt Rising’s new poll finds two electorally key Midwestern states to be in virtual ties between whether voters will support Trump or a Democrat. • Likely voters in Pennsylvania and Wisconsin are essentially even on supporting Trump or a Democrat. • Democrats have a slight lead in Michigan and Trump ahead in Ohio. • Health care costs continue to be voters’ biggest concern. • Midwesterners see economic improvement, but do not feel it as much in their own lives and worry growth will not continue. Our new poll examines voters’ issue priorities, struggles, views of this economy, and voting intentions for next year, which we are using in our programs for Democratic candidates. Please contact [email protected] to become a Rising candidate and to review full results of the poll by state and specific subsets. • At every opportunity in this survey, our voters made clear how health care and prescription drugs are their biggest worry—these bills are overwhelming them and they want to reduce these costs and protect Medicare, Medicaid, and Social Security. • Our voters realize there are jobs, but not good jobs that support raising a family, especially with the increased costs of health care and prescription drugs and the rising cost of living generally. They would support investments in infrastructure. • Our voters see the economy working for the wealthy and well-connected, not for them. They see this as a great obstacle to their economic success. -
New Mexico STATE FOOTBALL
Athletic Media Relations Contact: Charlie Hurley C: 218-341-5113 New Mexico STATE FOOTBALL E: [email protected] Stan Fulton Center | 1815 Wells Street | Las Cruces, NM 88003 | @NMStateFootbalL | @NMStatefb | FB.com/NMStateFootball | www.NMStateSports.com 2021 SCHEDULE GAME vs. Tarleton State Feb. 21, 2021 • L | 43-17 2 El Paso, Texas | Sun Bowl ALL-TIME RESULTS vs. Dixie State Sunday’s game is the first meeting March 7, 2021 • 3 p.m. Dixie State Trailblazers between the Aggies and Trailblazers. NM State Aggies El Paso, Texas | Sun Bowl Head Coach ...............................Paul Peterson Head Coach ...............................Doug Martin Career Record (Yrs) ................. 9-3 (Second) 2021 NUMBERS TO KNOW (RK) Career Record (Yrs) ................51-117 (17th) All Times Mountain Record at Dixie State (Yrs) ...................Same 1-0 ..................Overall Record ..................0-1 Record at NM State (Yrs) ...........22-64 (8th) All Times Subject to Change 2021 STAT LEADERS (--) 26.0 ....... Scoring Offense ........17.0 (--) 2021 STAT LEADERS GAMEDAY INFORMATION RUSHING | #21 Quali Conley (--) 14.0 .......Scoring Defense .......41.0 (--) RUSHING | #9 Juwaun Price 22-68, 3.1 ypr, 1 TD, 68.0 ypg (--) 95.0 .......Rushing Offense .......54.0 (--) 14-31, 2.2 ypr, 0 TD, 31.0 ypg Date .............................................................March 7, 2021 PASSING | #4 Kody Wilstead (--) 234.0 .....Rushing Defense .....249.0 (--) PASSING | #10 Jonah Johnson Kickoff Time ..............................................3:00 p.m. (MT) 21-38-0, 350 yards, 1 TD, 350.0 ypg (--) 350.0 ......Passing Offense ......187.0 (--) 17-31-3, 187 yards, 1 TD, 187.0 ypg Location ...................................................... El Paso, Texas RECEIVING | #81 Chase Hess RECEIVING | #7 Terrell Warner (--) 128.0 .....Passing Defense .....252.0 (--) 5-77, 15.4 ypc, 0 TD, 77.0 ypg Venue .................................................................. -
A Tale of Two Cities (And a Town): Immigrants in the Rust Belt
Number 23, October 2013 briefing paper A Tale of Two Cities (and a Town): Bread for the World Institute Immigrants in the Rust Belt www.bread.org Abstract In the midst of the debate over the largest potential immigration reform legislation in 50 years, some American communities struggling with decades of population loss and economic decline are being revitalized by newcomers. The role of immigrants in high-skilled fields is relatively well-known, but less acknowledged are the contributions that “blue collar” immigrants make to revitalizing depressed communities and economies, both as manual laborers and provides policy small business entrepreneurs. analysis on hunger and strategies to end it. iStock In Rust Belt communities such as Bal- The Institute educates opinion leaders, policy makerstimore, and Detroit, the public and southeasternabout hunger Iowa, in the Unitedimmigration States and has abroad. slowed—and in some Key Points cases reversed—decades of population loss. It is revitalizing neighborhoods and • Immigration is slowing—and in some cases reversing—decades of population commercial corridors. Immigrants—in- decline in American Rust Belt communities, from Baltimore to Detroit to by Andrew Wainer cluding lower-skilled immigrants—help rural Iowa. generate jobs and economic growth for • Immigrants are more likely than U.S.-born residents to be entrepreneurs. U.S.-born workers. While they are 13 percent of the national population and 16 percent of the Immigrants are a disproportionate labor force, they are 18 percent of small business owners. Immigrants in number of our country’s entrepreneurs. Rust Belt cities are more likely to be entrepreneurs than those in other parts This is particularly true in Rust Belt cit- of the United States.