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Maximum Likelihood Estimation and Lagrange Multiplier Tests for Panel Seemingly Unrelated Regressions with Spatial Lag and Spatial Errors : An Application to Hedonic Housing Prices...
Baltagi, Badi H. - 2010
This paper proposes maximum likelihood estimators for panel seemingly unrelated regressions with both spatial lag and spatial error components. We study the general case where spatial effects are incorporated via spatial errors terms and via a spatial lag dependent variable and where the...
Persistent link: https://www.econbiz.de/10013137243
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Migration, Capital Formation, and House Prices
Grossmann, Volker - 2013
We investigate the effects of interregional labor market integration in a two-sector, overlapping-generations model with land-intensive production in the non-tradable goods sector (housing). To capture the response to migration on housing supply, capital formation is endogenous, assuming that...
Persistent link: https://www.econbiz.de/10013086219
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School Performance, Score Inflation and Economic Geography
Battistin, Erich - 2017
We show that grading standards for primary school exams in England have triggered an inflation of quality indicators in … inflation resulting from discretion in the grading of randomly assigned external markers. We find large housing price gains from … the school quality improvements artificially signaled by inflation as well as lower deprivation and more businesses …
Persistent link: https://www.econbiz.de/10012942088
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Macroeconomic Determinants of Retirement Timing
Gorodnichenko, Yuriy - 2014
, inflation and housing prices. Flows into both full and partial retirement increase significantly when the unemployment rate … spell, while older workers accelerate their transition to full retirement. We also find that high inflation discourages full …
Persistent link: https://www.econbiz.de/10013061926
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Neighborhood Diversity and the Appreciation of Native- and Immigrant-Owned Homes
Cobb-Clark, Deborah A. - 2011
This paper examines the effect of neighborhood diversity on the nativity gap in home-value appreciation in Australia. Specifically, immigrant homeowners experienced a 41.7 percent increase in median home values between 2001 and 2006, while the median value of housing owned by the native-born...
Persistent link: https://www.econbiz.de/10013134291
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Housing Mobility and Downsizing at Older Ages in Britain and the United States
Banks, James W. - 2010
This paper investigates the effects of housing price risk on housing choices over the life-cycle. Housing price risk can be substantial but, unlike other risky assets which people can avoid, the fact that most people will eventually own their home creates an insurance demand for housing assets...
Persistent link: https://www.econbiz.de/10013138268
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The Effect of School Construction on Test Scores, School Enrollment, and Home Prices
Neilson, Chris - 2011
This paper provides new evidence on the effect of school construction projects on home prices, academic achievement, and public school enrollment. Taking advantage of the staggered implementation of a comprehensive school construction project in a poor urban district, we find that, by six years...
Persistent link: https://www.econbiz.de/10013118273
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Immigration and House Prices in the UK
Sá, Filipa - 2011
This article studies the effect of immigration on house prices in the UK. It finds that immigration has a negative effect on house prices and presents evidence that this negative effect is due to the mobility response of the native population. Natives respond to immigration by moving to...
Persistent link: https://www.econbiz.de/10013121737
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The Impact of Population Ageing on House Prices : A Micro-Simulation Approach
Chen, Yu - 2012
This paper attempts to estimate the impact of population ageing on house prices. There is considerable debate about whether population ageing puts downwards or upwards pressure on house prices. The empirical approach differs from earlier studies of this relationship, which are mainly regression...
Persistent link: https://www.econbiz.de/10013104365
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Change in the Distribution of House Prices Across Spanish Cities
Nicodemo, Catia - 2013
This paper presents the quantile estimation of house price between two years, 2004 and 2007 (a boom house price period) in several Spanish cities. We decompose the change in house price distribution into portions: changes in the distributions of the explanatory variables and changes in...
Persistent link: https://www.econbiz.de/10013091097