Despite evidence that aggregate housing price are predictable, a random walk in time and independence in space are two maintained hypotheses in the empirical models for housing price measurement used by government and commercial companies. This paper examines the price discovery process in...

Housing markets typically exhibit a strong positive correlation between the rate of price increase and the number of houses sold. We document this correlation on high-quality Dutch data for the period 1985-2007, and estimate a VEC-model that allows us to study the mechanism giving rise to the...

Theories about the importance of space in urban labor markets have emphasized the role of employment access, on the one hand, and neighborhood composition, on the other hand, in affecting employment outcomes. This paper presents an empirical analysis which considers both of these factors,...