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Is There Evidence of a Real Estate Collateral Channel Effect on Listed Firm Investment in China?

Wu, Jing - 2013

value on firm investment. Working with unique data on land values in 35 major Chinese markets and a panel of firms outside … the real estate industry, we estimate investment equations that yield no evidence of a collateral channel effect. One … obtain all the financing necessary to carry out their desired investment programs. However, we also find no collateral …

Persistent link: https://www.econbiz.de/10012459899

Sudden Flight and True Sudden Stops

Rothenberg, Alexander D. - 2006

We extend the sudden stops literature by allowing crisis episodes to be caused by either the retreat of global investors, as is assumed but not shown in the extant literature, or the sudden flight of local investors. We find that almost half of the previously defined sudden stops are actually...

Persistent link: https://www.econbiz.de/10012465934

Private Investment and Government Protection

Kousky, Carolyn - 2006

There is usually considerable uncertainty about the amount of investment that will accompany any level of protection …

Persistent link: https://www.econbiz.de/10012466413

Equilibrium Exhaustible Resource Price Dynamics

Carlson, Murray - 2006

We develop equilibrium models of an exhaustible resource market where both prices and extraction choices are determined endogenously. Our analysis highlights a role for adjustment costs in generating price dynamics that are consistent with observed oil and gas forward prices as well as with the...

Persistent link: https://www.econbiz.de/10012466671

Computer Vision and Real Estate : Do Looks Matter and Do Incentives Determine Looks

Glaeser, Edward L. - 2018

How much does the appearance of a house, or its neighbors, impact its price? Do events that impact the incentives facing homeowners, like foreclosure, impact the maintenance and appearance of a home? Using computer vision techniques, we find that a one standard deviation improvement in the...

Persistent link: https://www.econbiz.de/10012480826

How Collateral Laws Shape Lending and Sectoral Activity

Calomiris, Charles W. - 2016

We demonstrate the central importance of creditors' ability to use "movable" assets as collateral (as distinct from "immovable" real estate) when borrowing from banks. Using a unique cross-country micro-level loan dataset containing loan-to-value ratios for different assets, we find that...

Persistent link: https://www.econbiz.de/10012456761

How Much Energy Do Building Energy Codes Really Save? Evidence from California

Levinson, Arik - 2014

Construction codes that regulate the energy efficiency of new buildings have been a centerpiece of US environmental policy for 40 years. California enacted the nation's first energy building codes in 1978, and they were projected to reduce residential energy use--and associated pollution--by 80...

Persistent link: https://www.econbiz.de/10012457869

When Real Estate is the Only Game in Town

Choi, Hyun-Soo - 2014

publicly traded firms headquartered there are more likely to own an investment home nearby. Households in these areas are also …

Persistent link: https://www.econbiz.de/10012458865

Search for a Common Factor in Public and Private Real Estate Returns

Ang, Andrew - 2013

This paper is no longer available on-line from the NBER. A revised version of the paper has been published as "Searching for a Common Factor in Public and Private Real Estate Returns" in the Journal of Portfolio Management JPM RE 2013, Vol. 39, No. 5: pp. 120-133

Persistent link: https://www.econbiz.de/10012459469

Real Estate Valuation, Current Account and Credit Growth Patterns, Before and After the 2008-9 Crisis

Aizenman, Joshua - 2013

We explore the stability of the conditioning variables accounting for the real estate valuation before and after the crisis of 2008-9, in a panel of 36 countries, recognizing the crisis break. We validate the robustness of the association between the real estate valuation and lagged current...

Persistent link: https://www.econbiz.de/10012459473