This paper examines the effects of real estate transfer taxes (RETT) on house prices using a rich micro dataset on German properties covering the period from 2005 to 2018. We exploit a 2006 constitutional reform that allowed states to set their own RETT rates, leading to frequent increases in...

This study suggests a two-step approach to identifying and interpreting regional convergence clubs in Europe. The first step involves identifying the number and composition of clubs using a space-time panel data model for annual income growth rates in conjunction with Bayesian model comparison...

This study suggests a two-step approach to identifying and interpreting regional convergence clubs in Europe. The first step calculates Bayesian probabilities for various assignments of regions to two clubs using a general stochastic space-time dynamic panel relationship between growth rates and...