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Glaeser, Edward Ludwig; Strange, William C.; Rosenthal, … - National Bureau of Economic Research (NBER) - 2009

Research on entrepreneurship often examines the local dimensions of new business formation. The local environment … dedicated to the geography of entrepreneurship. The paper frames the core questions facing researchers interested in assessing … the local causes and consequences of entrepreneurship, perturbs a core urban model to incorporate entrepreneurship, and …

Persistent link: https://www.econbiz.de/10008548809

Hoping to Win, Expected to Lose: Theory and Lessons on Micro Enterprise Development

Karlan, Dean; Udry, Christopher; Knight, Ryan - National Bureau of Economic Research (NBER) - 2012

Many basic economic theories with perfectly functioning markets do not predict the existence of the vast number of microenterprises readily observed across the world. We put forward a model that illuminates why financial and managerial capital constraints may impede experimentation, and thus...

Persistent link: https://www.econbiz.de/10010950711

New Multi-City Estimates of the Changes in Home Values, 1920-1940

Fishback, Price Vanmeter; Kollmann, Trevor - National Bureau of Economic Research (NBER) - 2012

The boom and bust in housing during the 2000s has led to renewed interest in the boom and bust in housing between 1920 and 1940. The most commonly used housing value series for this period is reported by Robert Shiller in Irrational Exuberance. We investigate the changes in housing values in...

Persistent link: https://www.econbiz.de/10010969376

Failure to Refinance

Keys, Benjamin J.; Pope, Devin G.; Pope, Jaren C. - National Bureau of Economic Research (NBER) - 2014

Households that fail to refinance their mortgage when interest rates decline can lose out on substantial savings. Based on a large random sample of outstanding U.S. mortgages in December of 2010, we estimate that approximately 20% of households for whom refinancing would be optimal and who...

Persistent link: https://www.econbiz.de/10010890099

Clusters, Convergence, and Economic Performance

Delgado, Mercedes; Porter, Michael E.; Stern, Scott - National Bureau of Economic Research (NBER) - 2012

This paper evaluates the role of regional cluster composition in the economic performance of industries, clusters and regions. On the one hand, diminishing returns to specialization in a location can result in a convergence effect: the growth rate of an industry within a region may be declining...

Persistent link: https://www.econbiz.de/10010950757

Foreclosure externalities: Some new evidence

Gerardi, Kristopher; Rosenblatt, Eric; Willen, Paul S.; … - National Bureau of Economic Research (NBER) - 2012

In a recent set of influential papers, researchers have argued that residential mortgage foreclosures reduce the sale prices of nearby properties. We revisit this issue using a more robust identification strategy combined with new data that contain information on the location of properties...

Persistent link: https://www.econbiz.de/10010950890

What Have They Been Thinking? Home Buyer Behavior in Hot and Cold Markets

Case, Karl E.; Shiller, Robert J.; Thompson, Anne - National Bureau of Economic Research (NBER) - 2012

Questionnaire surveys undertaken in 1988 and annually from 2003 through 2014 of recent homebuyers in each of four U.S. metropolitan areas shed light on their expectations and reasons for buying during the recent housing boom and subsequent collapse. They also provide insight into the reasons for...

Persistent link: https://www.econbiz.de/10011213893

Interjurisdictional Housing Prices and Spatial Amenities: Which Measures of Housing Prices Reflect Local Public Goods?

Banzhaf, Spencer; Farooque, Omar - National Bureau of Economic Research (NBER) - 2012

Understanding the spatial variation in housing prices plays a crucial role in topics ranging from the cost of living to quality-of-life indices to studies of public goods and household mobility. Yet analysts have not reached a consensus on the best source of such data, variously using...

Persistent link: https://www.econbiz.de/10009652898

From Sectoral to Functional Urban Specialization

Duranton, Gilles; Puga, Diego - National Bureau of Economic Research (NBER) - 2002

Striking evidence is presented of a previously unremarked transformation of urban structure from mainly sectoral to mainly functional specialization. We offer an explanation showing that this transformation is inextricably interrelated with changes in firms' organization. A greater variety of...

Persistent link: https://www.econbiz.de/10005710632

Forced Sales and House Prices

Campbell, John Y.; Giglio, Stefano; Pathak, Parag - National Bureau of Economic Research (NBER) - 2009

This paper uses data on house transactions in the state of Massachusetts over the last 20 years to show that houses sold after foreclosure, or close in time to the death or bankruptcy of at least one seller, are sold at lower prices than other houses. Foreclosure discounts are particularly large...

Persistent link: https://www.econbiz.de/10005713996