This paper examines house price diffusion across metropolitan areas in the United States. We develop a generalization of the Hamilton and Owyang (2012) Markov-switching model, where we incorporate direct regional spillovers using a spatial weighting matrix. The Markov-switching framework allows...

Using a hedonic residential rent model for Brazil's metropolitan areas calibrated with microdata from Brazil's annual household survey, this study estimates that increasing the sense of security in the home by one standard deviation would increase average home values by R$1,513 (US$757), or...

We provide econometric evidence that relative per capita GDP and relative unemployment rates are the main determinants of migration flows across Italian regions from 1970 to 2002. The empirical analysis is based on an accurate study of the dynamic properties of the series. In fact, we deal with...

We examine the long-term impacts of drought on local labor markets in Brazil. Us- ing rainfall data going back over a century, we build contemporaneous and historical drought indices for more than 3,000 local areas, and examine them in conjunction with five waves of population census data...

Migration is one of the strategies used by populations to adapt to natural shocks and also to respond to economic policies. Climate change will probably have an impact on the productivity of factors and on the health of the population of the Latin America and Caribbean region, triggering...