The purpose of this case is to provide a setting to analyze the impact of major events (e.g., the Olympic Games) on property prices. By focusing on the Wangjing area in Beijing, the impact of the 2008 Olympic Games on Beijing's residential property market can be analyzed using transaction data...

Consumer choice of differentiated products, such as wine, depends on the composition of the choice set consumers are choosing from. However, choice sets are often situationally defined through wine-tasting lists or displayed wines in a particular tasting and sales environment. In this paper, we...

We examine the issue of the widening wealth inequality in the People's Republic of China (PRC) from the perspective of housing. Using China Household Finance Survey (CHFS) data from 2011, we find that the PRC's wealth inequality including housing is much larger than income inequality. Housing...

In this paper we consider emergency government bailouts. We show that it is welfare‐enhancing to bail out failing firms that are facing a sudden negative demand shock and would otherwise go bankrupt, when there are sufficiently large fixed production costs and knock‐on effects (the negative...

We apply a jump GARCH model to daily returns of the ten largest international securitized real estate markets and investigate the sources of large price changes. We document, for the first time, evidence for jump dynamics across major international securitized real estate markets. Large price...