In order to explain the spatial inequalities in unemployment-to-work transitions in the Paris area, we use an exhaustive administrative data set from the French National Employment Agency (Agence Nationale pour l'Emploi). We find strong local disparities between communes, even when we control...

In this paper we examine the applicability of arbitrage theory to real estate. Arbitrage theory has been applied to the valuation of mortgages using partial differential equations, however the implicit assumptions made are problematic when applied to real estate. The latter is a very complex...

Considering the prolonged rise of energy price and the still elevated housing prices, the policy to limit the share of housing expenses in the households' budget, so as to secure their solvability, has been criticized. Supposedly, it induces people to get farther from the city center in search...

This paper provides a method to single out customer-based discrimination in the housing market. We build a matching model with ethnic externalities where landlords differ in the number of housing units they own within the same building. Multiple-dwelling landlords discriminate more often than...

In an often quoted article, Genesove and Mayer (2001) observe that house sellers are reluctant to sell at a loss, and attribute this finding to loss aversion. I show that loss aversion cannot explain this phenomenon.

This paper studies the maximin paths of the canonical Dasgupta-Heal-Solow model when the stock of natural capital is a direct argument of well-being, besides consumption. Hartwick's rule then appears as an efficient tool to characterize solutions in a variety of settings. We start with the case...