This paper offers a new method for nonparametric estimation - based on the Cobb-Douglas form - that is simple, easy to interpret, efficient among the class of all linear nonparametric estimators, and nearly efficient among all nonparametric estimators. Thus empirical analysts who prefer the...

In Housing Economics, filtering is the process by which properties, as they age, depreciate in quality and hence price and thus tend to be purchased by lower-income households. This is the primary mechanism by which competitive markets supply low-income housing. While at the national level...

We show that a simple, intuitive variable, GVD (Goliath versus David) reflects time-variation in discount rates related to changes in aggregate business conditions. GVD is the annual change in the weight of the largest 250 firms in the aggregate stock market, and is motivated by research that...