During the transition from plan to market, managers and politicians succeeded in maintaining control of large parts of the stock of socialist physical capital. Despite the obvious importance of this phenomenon, there have been no efforts to model, measure and investigate this process...

The model of compensating differentials in regional labor markets was developed by Roback(1982). The model interprets regional differences in constant quality wages and rents ascompensating firms and residents for inter-regional differences in amenities. The modelassumes that the costs of...

Economic hardship is strongly reflected by the housing market. It is the concern of much research, but its analysis is often obstructed by insufficient lagged data. This paper evaluates search intensity for "hardship letter" from Google Insights to detect ensuing mortgage delinquencies. Such...

We develop a new methodology to estimate the elasticity of urban costs with respect to city population using French land price data. Our preferred estimate, which handles a number of estimation concerns, stands at 0.041. Our approach also yields a number of intermediate outputs of independent...

A recent decline in geographic mobility in the United States may have been caused in part by falling house prices, through the "lock in" effects of financial constraints faced by households whose housing debt exceeds the market value of their home. I analyze the relationship between such "house...

In many markets, sellers advertise their good with an asking price. This is a price at which the seller is willing to take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the...

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...

Urbanization economies - the effects on productivity and utility created endogenously by larger cities - are a fundamental component of both the economic geography of modern societies and the perpetuation of innovation and economic growth at a national level. Cities account for vast majorities...

We estimate empirically the effect of immigration on house prices and residential construction activity in Spain over the period 1998-2008. This decade is characterized by both a spectacular housing market boom and a stunning immigration wave. We exploit the variation in immigration across...

Neighborhoods are the result of a complicated interplay between residential choice, housing supply and the influences of the larger metropolitan system on its constituent parts. We model this interplay as a system of reduced-form equations in order to examine the effects of a generous spatially...