Using individual level transaction data and a revised difference-in-differences method with nonparametric smoothing, we study the effect of COVID-19 on house prices. The analyses are performed on the areas of Houston, Santa Clara, Honolulu, Irvine, and Des Moines in the US, which vary in the...

In this article, we test whether tenure choice influences employment. This influence might arise through a number of channels, including transaction costs, lock-in effects, wealth effects, externalities and commuting times. These factors could collectively have either a positive or negative...

This paper evaluates the effect of home-owning on business. There are both positive and negative spillovers from home-owning. The positive spillover is that owners are more stable and they build better amenities, which attracts business. The negative one arises through the NIMBY effect. Both...