We contribute to the debate on whether tourism should be considered a discipline or just a field of study. By re-arranging Hirst's four criteria (1974) to define a primary form of knowledge (a discipline), we affirm that tourism economics can be considered an established economic discipline in...

This paper analyzes the causes and implications of recent financial crises. Financial crises in general lead to changes in both theory and practice of economics. The paper takes an historical overview. The global consensus of economic theory during the 20th century is discussed. The paper...

This article further develops a framework of Brander and Spencer (1984) by adding Border Carbon Adjustments (BCA) to compensate for cost differences caused by emissions reduction among countries. On a level playing field, BCA is one-directional in that only a country with a more stringent carbon...

The report investigates the impacts of short-term rental services (STRs), such as Airbnb, Homeaway, etc., on the residential housing market and hotel/accommodation market in the city of Seattle, Washington. Our primary goal is to examine critiques against STRs to assess their empirical validity...

We examine commercial office rental yields in 89 large cities in 33 developed and developing countries in the 2000-2019 period. As expected, commercial office yields have declined throughout the world, reflecting a decline in the real rate of interest over this time period. Our cross-city...

Sustainable urbanization in developing countries will be one of the major challenges of the 21st century. Especially in Africa where the current rate of urbanization is fastest and cities are least prepared to offer poor migrants decent living conditions through innovative solutions in housing,...

Traditional urban models predict that office rents will be higher in larger and more prosperous cities with better transport and with industries with stronger agglomeration benefits. In addition, rental yields are expected to be lower in growing cities, especially when the supply of new office...

Every financial crisis brings in its wake demands for more information; the latest one is no exception. Because, in deceptively tranquil times, it is well-nigh impossible to foster the consensus necessary to improve data availability, such a window of opportunity must not be missed. To be sure,...

A property tax bill depends on both the local property tax rate and the property’s assessedvalue. In this paper, we study the inequality in property taxation in the U.S. single-family homemarket based on a property’s assessed value. Comparing the assessment ratio of propertiesowned by...

The rate of future global sea-level rise will likely increase due to elevated ocean temperatures and increases in land-ice melt. Nearly 40 percent of the U.S. population lives in coastal communities, and coastal properties are expected to become more prone to coastal flooding in the coming...