In a local economy, the citizens can react on local policy by exit. Exit induces a shift in the housing demand. The local policy may thus capitalize into the housing prices. However, the citizens encounter specific coordination problems on the housing market. Therefore, it may be asked how...

Affluent towns often deliver high-quality public services to their residents. I estimate the willingness to pay to live in a high-income suburb, above and beyond the demand of wealthy neighbors, by measuring changes in housing prices across city-suburban borders as the income disparity between...

This paper develops a comprehensive framework for estimating household preferences for school and neighborhood attributes in the presence of sorting. It embeds a boundary discontinuity design in a heterogeneous model of residential choice to address the endogeneity of school and neighborhood...

This paper examines the impact of a specific local tax limit, Proposition 2* in Massachusetts, on the fiscal behavior of cities and towns in Massachusetts and the capitalization of that behavior into property values. Proposition 2* places a cap on the effective property tax rate at 2.5 percent...

This text deals with the topic of housing shortage vs. residential vacancy – housing market intervention as a task of politics? At the beginning there will be some basic assertions on the relation of market vs. state, especially bearing in mind, the overall importance and social responsibility...

There are four major challenges for housing policy in the near and midterm future: First, rents in many German conurbations have been rising significantly faster than incomes over the last five years. Though it can rightly be argued, that the suggested policies of the new German federal...

The regional differences in the housing markets are enormous and will continue to exacerbate in the future. The main task for the housing policy is to take appropriate long term measures depending on the market structure. A central aspect of future housing policy is the site development....

This paper investigates spatial spillovers in local spending decisions by using panel data of the Swiss communes in the canton of Lucerne during the 1990s. Due to the geographical fragmentation with a major central city and some 100 suburban communes within a distance from 4 to 55 kilometers to...

What are the cyclical properties of U.S. state and local government fiscal policy? The budget surplus of local and, in particular, state governments is procyclical, smoothing disposable income and consumption of state residents. This happens over both short- and medium-term horizons. Procyclical...

Bu çalışmada belediye harcama ve gelirlerinin iller arasında yakınsamayı nasıl etkilediği araştırılmıştır. Belediyeler büyükşehir ve normal il belediyeleri olarak iki kategoriye ayrılarak analiz edilmiştir. Sigma yakınsamayı ölçmek için değişim katsayısı...