House price capitalization – the adjustment of house prices to changes in local public service and tax levels – has long been thought to be a means of testing for efficiency in the local public sector. In this article I argue that the extent of house price capitalization itself may have...

In this article I argue that the extent to which fiscal variables are capitalized into house prices has important economic implications. I synthesize an emerging literature that explores the conditions under which public and private investments and intergovernmental transfers are capitalized...

This paper provides a comprehensive description of the financial environment for households and small businesses in a defined geographical region. It develops a new, functional approach to financial access surveys, which involves asking detailed questions about how respondents meet their...