In this paper, the authors construct a unique data set of Internet offer prices for flats in 48 large European cities across 24 countries. The data collected between January and May 2012 from 33 websites, are drawn from Internet advertisements of dwellings. Using the resulting sample of more...

We combine the real estate model of Potepan (1996) with the spatial equilibrium approach of Roback (1982) to prove the interdependency of housing prices, rental prices, building land prices and income via one simultaneous equilibrium analysis. Using unique cross-sectional data on the majority of...

In the context of the lognormal regression model with spatial error dependence, the present study examines correction of a bias in prediction. If interest lies in the predicted mean value of the dependent variable, antilogarithmic transformation of the predicted mean value of the regressand...

We take advantage of unusually wide variation in thermal insulation in a sample of house sales to estimate the market value of basic code-level insulation. Insulation levels vary across the houses in our sample because standard practice in New Zealand was to build houses with no thermal...

El precio medio del metro cuadrado de la vivienda libre y su evolución en los últimos años es una de las cuestiones que más preocupan a la ciudadanía de nuestro país y, en consecuencia, a las autoridades políticas y económicas con competencias en materia de política de vivienda. La...

Does Islamic terrorism have an effect on the general attitudes towards Muslim minorities? We use the murder of Theo van Gogh as an event study to address this question. Specifically, we use the hedonic-market model and test for an effect on listed house prices in neighbourhoods where more than...

In this paper I estimate the impact of changes in real and financial wealth on private consumption for a panel of 17 emerging economies from Asia and Central and Eastern Europe. Households' consumption, income and the two measures of real and financial wealth – proxied by house and stock...

This chapter discusses how applied researchers in corporate finance can address endogeneity concerns. We begin by reviewing the sources of endogeneity - omitted variables, simultaneity, and measurement error - and their implications for inference. We then discuss in detail a number of...

The Heckman sample selection model relies on the assumption of normal and homoskedastic disturbances. However, before considering more general, alternative semiparametric models that do not need the normality assumption, it seems useful to test this assumption. Following Meijer and Wansbeek...

In this paper, we evaluate the forecasting ability of 145 indicators and ten types of forecast combination schemes to predict housing prices and rents in 71 German cities. We are interested in whether local business confidence indicators facilitate substantial improvements of the forecasts,...