Lewyn on Coase and Parking Regulation

Michael Lewyn (Florida Coastal) has posted What Would Coase Do? (About Parking Regulation) on SSRN.  Here's the abstract:

Like many government regulations, municipal minimum parking requirements exist to prevent externalities - most notably the congestion, pollution and greenhouse gas emissions that occur when motorists drive around a city searching for scarce parking. But because such regulations make parking (and thus driving) cheaper, such regulations may in fact increase congestion and pollution, thus creating, rather than reducing, externalities.

Ben Barros

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