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This paper analyzes the risk-taking behavior of financial intuitions that have guarantees (e.g., banks with deposit insurance or Government Sponsored Enterprises with implicit guarantees) and/or institutions that find it beneficial to develop a reputation for not taking risk. For instance, banks...
Persistent link: https://www.econbiz.de/10014046885
This paper offers a comparative analysis of regions in the United States (US) and European Union (EU) countries before and during the aftermath of the global financial crisis. By using a regional taxonomy approaching a functional definition, we can compare in a more meaningful way the regions in...
Persistent link: https://www.econbiz.de/10014078112
This paper utilizes transaction-level data to examine the effect of the minimum wage on US retail prices. We find minimal price pass-through across a variety of identification strategies. Additionally, there is no evidence of anticipation/retrospective adjustment in prices, heterogeneous...
Persistent link: https://www.econbiz.de/10012956393
Using a search-theoretical framework, we study how a home seller's choice of whether or not to use a broker depends on different market conditions. We analyze the role that the broker plays in the house-selling process by examining the expected time-to-transaction, the expected transaction...
Persistent link: https://www.econbiz.de/10013022075
Households face a tradeoff between housing costs and commuting costs. Using a database that connects residence and workplace neighborhoods in eight larger metropolitan areas, we model the difference in housing costs as a function of estimated commuting distance. Based on the linear distance...
Persistent link: https://www.econbiz.de/10012985505
Persistent link: https://www.econbiz.de/10012920018
In the last ten years the space issue, i.e. the study of the role played by space in economic phenomena, has attracted a lot of interest from many economic fields. Both the suitability of spatial economics to address questions posed by globalization, and improves in modeling techniques are at...
Persistent link: https://www.econbiz.de/10013124707
This paper estimates and compares methods of constructing disaggregated house price indices from existing house price models using individual sales data for Sydney. Nine alternative house price models are selected to cover the most frequently used methods in the literature: the mean model,...
Persistent link: https://www.econbiz.de/10013084750
In recent years, housing booms have caused ghost town phenomena in many cities such as Dublin, Madrid, Dubai, etc. This paper derives a theoretical model to illustrate how activities of producers and rent seekers affect housing price booms in city centers and surrounding areas due to...
Persistent link: https://www.econbiz.de/10013064786
We study equilibrium outcomes in markets with asymmetric information about asset values among both buyers and sellers. In residential real estate markets hard-to-observe neighborhood characteristics are a key source of information heterogeneity: sellers are usually better informed about...
Persistent link: https://www.econbiz.de/10013062123