This paper analyses derives market-wide price and return series for housing investment during a 13-year period, and it also provides estimates of the individual-specific, idiosyncratic, variation in housing returns.

We conduct a quantitative study to explain why firms lease commercial office space in buildings with a green label ñ as this implies paying a rental premium. Based on a literature review, we construct a theoretical framework of drivers underlying corporate social responsibility. We formulate...

This paper examines index revision in measuring the prices for owner-occupied housing. We consider the context of equityinsurance and the settlement of futures contracts. In addition to other desirable characteristics for aggregate price indexes, their usefulness in these contexts requires...

Mortgage terminations arise because borrowers exercise options. This paper investigates the apparently irrational behavior of those borrowers who do not terminate their mortgages even when the exercise value of the option is deeply in the money. We develop an option-based empirical model to...

This paper examines the dynamics of owner-occupied housing prices both at thelevel of the individual dwelling and in aggregate. Using a unique data set, a modelof individual dwelling prices is estimated that represents features of housing marketsmore faithfully than competing models. Statistical...

Assesses two ways (mandates and grants) in which federalist principles affect the budget and deficit at the federal level, the relationship between the federal and local governments, and the assumption of state responsibility for a number of public regulations.