Economic uncertainty has steadily increased in response to a series of unforeseen shocks, notably the Global Financial Crisis, Brexit, COVID-19, and the Russia-Ukraine war. This study examined the impact of economic uncertainty on rents and capital values in Australia's office, retail, and...

We study the impact of commercial property taxation on vacancy rates and rents in the UK, using a new data-set, and exploiting exogenous variations in property tax rates from reliefs in the UK system: small business rate relief (SBRR), retail relief and empty property relief. We estimate that...

In den vergangenen Jahren haben Stadt-Umland-Beziehungen wieder deutlich an gesellschaftspolitischer Aufmerksamkeit gewonnen. Der Hintergrund: Viele neu auftretende und sich verändernde Herausforderungen lassen sich nur im interkommunalen und regionalen Kontext bearbeiten. Hierzu gehört u. a....

We study the impact of commercial property taxation on vacancy rates and rents in the UK, using a new data-set, and exploiting exogenous variations in property tax rates from reliefs in the UK system: small business rate relief (SBRR), retail relief and empty property relief. We estimate that...

This paper utilizes timely proprietary data to examine the contemporary impact of the COVID-19 pandemic on commercial property rent dynamics in the Asia-Pacific region. Given that the Asia-Pacific region was the first to be impacted by the public health crisis, it is important to examine how the...

This paper utilizes timely proprietary data to examine the contemporary impact of the COVID-19 pandemic on commercial property rent dynamics in the Asia-Pacific region. Given that the Asia-Pacific region was the first to be impacted by the public health crisis, it is important to examine how the...

Wachsende Großstädte stehen vor spezifischen Herausforderungen bei der Planung, Entwicklung und Sicherung von Industrie- und Gewerbeflächen: Hier müssen eine hohe Flächennachfrage seitens der Wirtschaft, zunehmende Nutzungskonkurrenzen und sich im Zuge des technologischen und strukturellen...

Developments in the real estate sector can have a strong impact on the economy, in particular on the financial system. For that reason, policymakers need relevant statistical information, including reliable indicators, to help identify the emergence of systemic risks originating in the real...

This paper aims to quantify the municipal tax revenue effects of built-up area increases. The assumed existence of these effects is one of the key reasons for ongoing land consumption on the side of the municipalities. Some previous case studies however suggested that these effects might be not...

Russia's tremendous inter-regional variation in the pace of industrial land rights reform has meant that geography has helped determine the current tenure status of firms' production plots as much as any individual firm characteristics. By exploiting both this difference in the pace with which...

Die vorliegende Arbeit mit dem Titel Anreizsysteme zum Flächenrecycling für mindergenutzte bzw. brachgefallene Flächen mit gewerblicher Vornutzung basiert auf einer empirischen Datenerhebung in 10 Kommunen in Baden-Württemberg mit anschließender Befragung der an einer Brachenrevitalisierung...

The paper finds that, given New Zealand’s conservative approach in implementing the Basel II framework, New Zealand banks’ headline capital ratios underestimate their capital strength. A comparison with Canadian, UK and Australian banks highlights the impact of New Zealand’s...

Credibility is the bedrock of any crisis stress test. The use of stress tests to manage systemic risk was introduced by the U.S. authorities in 2009 in the form of the Supervisory Capital Assessment Program. Since then, supervisory authorities in other jurisdictions have also conducted similar...

This article is an analysis on the restructuring banking system of the European Union. The global financial crisis created the need to restructure by immensely reflecting weaknesses in the public, households, corporate, and other financial sectors. The restructuring includes the strengthening of...

The global financial crisis hit Denmark hard, and the recovery has been slow and unsteady. Denmark’s slow growth predates the recent economic crisis, and the economy has underperformed its regional peers. The current account remains in surplus, largely reflecting weak domestic demand...

This technical note discusses key findings of the assessment of Crisis Management and Bank Resolution Framework for France. The findings reveal that the crisis preparation, crisis identification, and crisis management processes in the supervisory authority (ACP) are comprehensive and well...

Wachsende Großstädte stehen vor spezifischen Herausforderungen bei der Planung, Entwicklung und Sicherung von Industrie- und Gewerbeflächen: Hier müssen eine hohe Flächennachfrage seitens der Wirtschaft, zunehmende Nutzungskonkurrenzen und sich im Zuge des technologischen und strukturellen...

The study presents reconstruction of the Czech industrial real estate market model by using expert data applied along the Fischer-Di Pasquale-Wheaton model. Research shows that literature focuses on office, retail, and residential markets, while industrial real estate sector is being completely...

Informationally efficient prices are a necessary requirement for optimal resource allocation in the real estate market. Prices are informationally efficient if they reflect buildings' benefit to marginal buyers, thereby taking account of all available information on future market development....

Informationally efficient prices are a necessary requirement for optimal resource allocation in the real estate market. Prices are informationally efficient if they reflect buildings’ benefit to marginal buyers, thereby taking account of all available information on future market development....

In this paper, we provide an overview of the concerns surrounding the variations in the calculation of risk-weighted assets (RWAs) across banks and jurisdictions and how this might undermine the Basel III capital adequacy framework. We discuss the key drivers behind the differences in these...

The paper finds that, given Australia's conservative approach in implementing the Basel II framework, Australian banks' headline capital ratios underestimate their capital strengths. Given their high capital quality and the progress in their funding profiles since the global financial crisis,...

This assessment reviews the regulatory framework in place for the oversight of the capital markets of the Russian Federation as of June 2011. The Russian securities markets, in particular, have been volatile, reflecting the inflow and outflow of money and the crisis. Foreign investment banks...

The 2012 Article IV Consultation report on euro area policies highlights that investors are withholding funding from member states most in need, moving capital “north†and abroad to perceived safer assets. Executive Directors have noted that the euro area continues to face a number of...

The voluminous literature on the privatization of Russian industry overlooks, almost completely, the story of enterprise land rights – a story that does not jibe well with the standard narrative of post-Soviet reform. This paper explains the path that has led to significant inter-regional...

The empirical literature assessing the connection between land rights, access to finance and investment activity has focused largely on actors that, for multiple reasons, might face difficulties accessing credit. Communities of small-scale farmers or poor urban households in developing...