Multivariate Adaptive Regression Spline (MARS) is a simple and powerful non-parametric technique that automatizes the selection of non-linear terms in regression models. Non-linearities and spatial effects are natural characteristics in numerous spatial hedonic pricing models. In this paper, we...

Following World War I, rent control became a standard policy response to the housing shortage and the resulting rent increases. Typically, economists blame it for creating inefficiencies in the housing market and beyond. We investigate whether rental market regulations (including rent control,...

World War I played a key role in shaping modern housing policy. While in the pre-War era, there was virtually no housing policy, hostilities led to an almost immediate and comprehensive state intervention in the housing market, particularly among those engaged in the war. Originally, Russia went...

Die Corona-Pandemie, die im Dezember 2019 ihren Anfang nahm und sich derzeit weltweit rasch ausbreitet, wirkt sich auf die Wirtschaft und damit auch auf den Immobilienmarkt spürbar aus. Da die Maßnahmen zur Eindämmung der Ausbreitung die Umsätze massiv zurückgehen lassen, sind insbesondere...

Die Verbreitung des Corona-Virus trifft die Wirtschaft weltweit hart. Wie hart genau, ist jedoch schwer vorherzusehen. Prognosen über den Verlauf und die wirtschaftlichen Folgen von Epidemien sind auch deshalb sehr unsicher, weil es an entsprechenden Modellen für die Dynamik von Epidemien...

We construct a news-based viral disease index and study the dynamic impact of epidemics on the world economy, using structural vector autoregressions. Epidemic shocks have persistently negative effects, both directly and indirectly, on affected countries and on world output. The shocks lead to a...

The coronavirus pandemic, which began in December 2019 and is currently spreading rapidly around the world, is having a noticeable impact on the economy and thus also on the real estate market. Since the measures to curb the spread are causing economic activities to decline massively, small and...

The coronavirus recession has left deep marks on the German economy and despite economic policy action, it is likely to heal only slowly. The partial easing of the lockdown and a gradual revival of global value chains are generating positive stimuli, but massive income losses will curb demand...

The enormous demographic and economic disturbances caused by World War I forced participating governments to drastically restrict market freedoms. In particular, the state began intervening actively in the housing market. For the first time, Ukraine, as a part of the then Russian Empire,...