Every month the Consumer Price Index for Germany (CPI) provides comprehensive and detailed information regarding the price development over time. However, when differences in the price level across regions in Germany have to be analysed at a given point in time, sufficient information is not...

The balance of outstanding student loan debt has risen sharply in the United States since 2008. At the same time, economic prospects for young graduates have worsened, leading to an increase in defaults on student loans. The trend is already having visible repercussions on the US economy;...

Why do parents with more human capital spend more time teaching and taking care of their children, in spite of the higher opportunity cost? How does this aect inter-generational mobility and wage inequality? Does this have any implications on the policy that provides public schooling through...

This paper is a quantitatively-oriented theoretical study into the interaction between housing prices, aggregate production, and household behavior over a lifetime. We develop a life-cycle model of a production economy in which land and capital are used to build residential and commercial real...

Sericulture, being low capital intensive with low gestation period and assured returns, suits a vast marginal class including landless farmers and low-skilled artisans, whose voices are not heard in the so called fast growing world. This paper will focus on some pertinent regional issues of land...

I define a composite amenity that provides aesthetic and consumption value to local residents: Urbanity. A novel data set of geo-tagged photos shared in internet communities serves as a proxy for urbanity. From the spatial pattern of house prices and photos I identify the value of urbanity in...

Do laws to protect borrowers curb foreclosures? This question is addressed by analysing the impact of foreclosure laws on default rates at state level in the US mortgage market. Using panel data techniques, we find a statistically significant effect of regulation on the different stages of the...

In a recent set of influential papers, researchers have argued that residential mortgage foreclosures reduce the sale prices of nearby properties. We revisit this issue using a more robust identification strategy combined with new data that contain information on the location of properties...

We reconcile conflicting evidence on the magnitude of the elasticity of substitution of land for capital, which is a key determinant of the relationship between the price of land and the density of land use. We first compare the performance of classic estimation approaches with a new estimation...