This study improves upon past estimates of the tax capitalization rate through two empirical innovations. First, the under-identification problem inherent in all capitalization studies is resolved by obtaining rental-data based estimates of the values of housing services instead of...

This study examines the determinants and consequences of price clustering. Real estate list and transaction prices exhibit two price-ending characteristics: even (000-ending) and just-below-even (900-ending). The use of even-ending prices is negatively related to the precision of the price...