Studies on real estate economics neglected the relationship between hedonic prices and capitalization rate, thus considering the hedonic models and the income approach as two separate and alternative appraisal methods. In this short theoretical paper we show that integration is possible and...

The aim of this short paper is to empirically test the key hypothesis of the ‘slippery slope' framework, namely: (1) trust (in) and power (of) tax authorities are both necessary to guarantee a high level of tax compliance; (2) the interaction between trust and power, as well as voluntary tax...

This paper has two interconnected goals. The first is to provide a simple method for measuring the variance in house prices which can not be attributed to the heterogeneous nature of real estate goods. The second goal is to show the strong statistical significance of this residual volatility in...

This paper develops a theoretical model in which the matching framework à la Pissarides (2000) extended to the housing market is integrated with the hedonic price theory. Market tightness and selling price collectively determine the long-run equilibrium of the economic system in which a seller...

While the literature is unanimous in considering unemployment and underground employment as strongly connected and interdependent phenomena, the link between existing causality is controversial. This empirical paper aims at clarifying this intricate relationship. Precisely, two key results...