We measure the impact of murders on prices and rents of homes in Sydney. We find that housing prices fall by 3.9 per cent for homes within 0.2 miles of the murder in the year following the murder, and weaker results in the second year after a murder. We do not find any effects of murders on...

In Australian real estate markets, about a third of properties are sold at auction. We show that properties that fail auctions sell later for a 2.6% discount. This effect increases for properties failing multiple auctions and when no bids are made. Consistent with a causal channel, the effect...

This paper studies how greenhouse gas emissions (GHGe) mitigation policy (i.e., Greenhouse Gas Pollution Pricing Act or GHGPPA) impacts sellers’ and buyers’ behaviors in housing transactions due to these participant’s different reactions to the Act’s effect on housing transactions from...

We estimate the transmission of the pandemic shock in 2020 to prices in the residential and commercial real estate market by causal machine learning, using new granular data at the municipal level for Germany. We exploit differences in the incidence of Covid infections or short-time work at the...

Following the Covid-19 pandemic, U.S. labor force participation declined significantly in 2020, slowly recovering in 2021 and 2022 -- this has been referred to as the Great Resignation. The decline has been concentrated among older Americans. By 2022, the labor force participation of workers in...

This study examines the effect of loss aversion on the reservation value of a house seller. Contrary to the finding of a prior theoretical study by Buisson (2016), we show that loss aversion can increase the reservation value as hypothesized in many empirical literatures. Loss aversion makes the...

Housing is the main asset through which households accumulate wealth and its taxation is highly debated. We provide the first empirical estimates of the long-run effects of shocks to property taxation on lifetime wealth accumulation and investment. To do so, we examine a unique 18th-century tax...