This paper empirically examines the emergence and functioning of land markets and their impacts on deforestation in Sumatra, Indonesia. While the evolution of land markets is ex-pected to promote deforestation activities by rural households, we find no sizeable impact, due to two major reasons....

Housing markets experience substantial price volatility, short-term price change momentum, and mean reversion of prices over the long run. Together, these features, particularly at their most extreme, produce the classic shape of an asset bubble. In this chapter, we review the stylized facts of...