The paper's aim is to present an overview on the PRS in Romania, emphasizing the main characteristics and the nature of PRS evolution after 1989. The past 20 years reveal some key-changes that occurred in the socio-economic and political life of the country and we have explored them as factors...

We consider here optimal use patterns for renewable resources and address the problem of optimal use of renewable resources under a variety of assumptions both about the nature of the economy in which these resources are embedded and about the objective of that economy. Although we focus here on...

The fundamental connection between the spatial development of cities and financial markets is a topic that has received little attention from either urbanists or economists. In this short piece, I argue that part of the post-crisis recovery is predicated on a multi-faceted understanding of the...

We develop a general equilibrium model of residential choice and study the effects of two housing aid policies, public housing units and housing vouchers. Land is differentiated by both residential accessibility and local public goods, and the provision levels of local public goods are...

We study the implications of property market transaction tax. As property buyers are obligated to pay a transaction tax (“stamp duty”, or SD) where the rate increases with the value of the transaction, there are incentives to trade at or just below the cutoff points of the tax schedule....

The housing market is special in that houses are immobile, costly and durable. In this paper we look at the determinants of prices of the housing market of Almaty. What affects the prices of houses and apartments? How was the housing market developing during the economic boom and after the...