We introduce a technology that estimates basis assets and thus the cost of capital. The generalized basis assets technology groups firms together into homogeneous risk classes which share the same systematic risk and therefore the same, commensurate, systematic return. By knowing a firm's risk...

We examine the relationship between income inequality and house prices for a panel of 17 OECD countries over the period 1870 to 2015. Our identification strategy takes advantage of exogenous variation in culturally weighted communist influence to instrument for within-country variations in...

We examine the effects of transport infrastructure on house prices in the OECD countries over the period 1870 to 2016. We employ both parametric and non-parametric panel data techniques that account for the non-linear and time-varying relationship between transport infrastructure and house...