South Korea has a unique kind of rental contract, called chonsei. The tenant pays an upfront deposit, typically from 40% to 70% of the property value, to the landlord, and the landlord repays the deposit to the tenant upon contract termination. The tenant is not required to make any periodic...

Motivated by several empirical studies showing a positive relationship between residential density and vehicle fuel efficiency chosen by the residents, this paper presents a modified monocentric city model with endogenous vehicle-type choices. Consumers are assumed to explicitly consider driving...

This paper investigates the impact of residential density on household vehicle usage and fuel consumption. We estimate a simultaneous equations system to account for the potential residential self-selection problem. While most previous studies focus on a specific region, this paper uses national...

This paper shows that a city where both a congestion externality and an externality from greenhouse gas emissions are corrected by efficient policies is more compact than the laissez-faire equilibrium city. Motivated by recent empirical studies showing a positive relationship between population...