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variables based on the ancestry composition of residents in US counties, we estimate the causal impact of immigration on local … also find that the house prices respond more to immigration than rent prices do. The larger issuance of building permits …, we find that the predicted contribution of immigration to US shelter price growth is small, around 2%, because the …
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In this paper we explore spatial effects in a hedonic price function framework for a large sample of apartments in Moscow. We find strong evidence of both spatial lag and spatial autocorrelation. Our results are robust across both the spatial model specifications and the choice of the spatial...
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House prices have inertia, which may be because housing-market participants need time to recognize long booms and recessions. Within a dynamic stochastic general-equilibrium model with markets for housing and defaultable mortgages, I consider the case of imperfect knowledge and learning about...
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