This paper investigates the dynamics of spatial inequality in gross housing wealth in the UK. Our results challenge recent research findings in the UK that suggest inexorable rises in housing wealth inequality. We argue that such findings are illusory, arising in part from the use of final...

The hypothesis that demand curves for individual stocks slope downwards is typically investigated by empirical analysis of stock price movements following events that cause shifts in demand or supply. However, it is difficult to attribute observed price movements between downward sloping demand...

This paper presents and tests a model of house price speculation. The mechanisms by which price speculation may occur in the housing market are described and formalised. A model of house prices is constructed that allows for speculation. Aspects of this model are tested using time-series data...

Suggests that the use of inflation-indexed bonds by the U.S. may cast doubt on the interpretation of the yield gap between indexed and conventional bonds as a measure of inflation. Discusses the problem in the context of the United Kingdom, where such bonds have been issued for the past 14 years.

This paper proposes a simple statistical explanation for the phenomenon of extreme bids. During a boom, the housing market regime switches from a single bidder to a multiple bidder environment. The sale price in a multiple bidder auction is the maximum bid and the distribution of maximum bids...

Purpose – The purpose of the analysis is to estimate price elasticities of demand for individual FTSE‐100 stocks between 1 August 1994 and 31 July 1995. Design/methodology/approach – This paper measures excess demand in order to measure the slope of the demand curve for individual stocks....

This paper attempts to reconcile an apparent contradiction between short‐run and long‐run movements in the price of gold. The theoretical model suggests a set of conditions under which the price of gold rises over time at the general rate of inflation and hence be an effective hedge against...