Hilber, Christian A. L. - Spatial Economics Research Centre, LSE - 2011
capitalization. The main insights are: (i) House price capitalization is more pronounced in locations with strict regulatory and … geographical supply constraints; (ii) capitalization can - under certain conditions - induce the provision of durable local public … goods and club goods; and (iii) capitalization effects - which are habitually ignored by policy makers - have important …