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Can Free Entry Be Inefficient? Fixed Commissions and Social Waste in the Real Estate Industry
Hsieh, Chang-Tai - 2010
Real estate agents in the US typically charge a 6 percent commission, regardless of the price of the house sold. As a consequence, the commission fee from selling a house will differ dramatically across cities depending on the average price of housing, although the effort necessary to match...
Persistent link: https://www.econbiz.de/10012762981
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An Equilibrium Analysis of Real Estate
Grenadier, Steven R. - 2009
This paper provides a unified equilibrium approach to valuing a wide variety of commercial real estate lease contracts. Using a game-theoretic variant of real options analysis, the underlying real estate asset market is modeled as a continuous-time Nash equilibrium in which developers make...
Persistent link: https://www.econbiz.de/10012767771
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Taxing and Subsidizing Housing Investment : The Rise and Fall of Housing's Favored Status
Hendershott, Patric H. - 2015
This paper surveys and interprets a wide body of literature on the taxation and subsidization of investment in owner-occupied and rental housing. Where available, the study considers experiences outside of the United States. Issues addressed include what nonneutral taxation is, how...
Persistent link: https://www.econbiz.de/10012750783
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Intensive Math Instruction and Educational Attainment : Long-Run Impacts of Double-Dose Algebra
Cortes, Kalena E. - 2014
We study an intensive math instruction policy that assigned low-skilled 9th graders to an algebra course that doubled instructional time, altered peer composition and emphasized problem solving skills. A regression discontinuity design shows substantial positive impacts of double-dose algebra on...
Persistent link: https://www.econbiz.de/10013052505
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Curriculum and Ideology
Cantoni, Davide - 2014
, staggered introduction of the new curriculum across provinces allows us to identify the effects of the new educational content …. These changes were often effective: study under the new curriculum is robustly associated with changed views on political …
Persistent link: https://www.econbiz.de/10013054037
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The Impact of High School Curriculum on Confidence, Academic Success, and Mental and Physical Well-Being of University Students
Yu, Han - 2018
This paper investigates the causal effect of high school curriculum on various student outcomes including academic … attitudes towards studying and learning. We exploit a curriculum reform in China, the implementation of which started in 2004 … new curriculum pivoted away from the old lock-step course structure where all students took the same courses and only …
Persistent link: https://www.econbiz.de/10012919864
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Monetary and Fiscal Stimuli, Ownership Structure, and China's Housing Market
Deng, Yongheng - 2011
In the recent financial crisis, macroeconomic stimuli produced mixed results across developed economies. In contrast, China's stimulus boosted real GDP growth from an annualized 6.2% in the first quarter of 2009 trough to 11.9% in the first quarter of 2010. Amidst this phenomenal response, land...
Persistent link: https://www.econbiz.de/10013128599
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Speculators and Middlemen : The Strategy and Performance of Investors in the Housing Market
Bayer, Patrick J. - 2011
Housing market transactions are a matter of public record and thus provide a rare opportunity to analyze the behavior, performance, and strategies of individual investors. Using data for all housing transactions in the Los Angeles area from 1988-2009, this paper provides empirical evidence on...
Persistent link: https://www.econbiz.de/10013130258
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Understanding Booms and Busts in Housing Markets
Burnside, A. Craig - 2011
Some booms in housing prices are followed by busts. Others are not. It is generally difficult to find observable fundamentals that are useful for predicting whether a boom will turn into a bust or not. We develop a model consistent with these observations. Agents have heterogeneous expectations...
Persistent link: https://www.econbiz.de/10013130972
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Foreclosures, House Prices, and the Real Economy
Mian, Atif R. - 2011
States without a judicial requirement for foreclosures are twice as likely to foreclose on delinquent homeowners. Comparing zip codes close to state borders with differing foreclosure laws, we show that foreclosure propensity and housing inventory jump discretely as one enters non-judicial...
Persistent link: https://www.econbiz.de/10013131506