This paper argues for the importance of separating the bundled good of housing into land and improvements, because locational amenities - which often constitute a significant portion of property value - are typically capitalized into the value of land but not the value of the physical structure...

This paper analyses the role of proximity between investors and corporations with equity traded on public secondary equity markets. Combining insights from recent research on home and local bias in financial economics, with economic geographical research on proximity and financial markets, the...

In the past year, local governments have made a foray into the hotly debated arena of immigration law and policy by adopting laws to address illegal immigration in their respective jurisdictions. Courts have struck down many of these laws on the grounds that they are preempted pursuant to a...

This paper examines the effect Low-Income Housing Tax Credit (LIHTC)projects have on neighboring sales prices of single-family homes in Dallas County. The results suggest LIHTC projects that went into place between 1986 and 2003 have a small, positive signifi cant effect on single-family home...

This paper examines the correlation between the real housing price and trading volume. Contrary to the predictions of standard rational expectation models, a robust positive correlation between the two variables is identified. While no clear lead-lag relationship is found in the raw data (which...

This paper contains an empirical study of the rental term structure in a property market that included a dramatic boom and bust cycle. The study is applied to office leases in commercial properties located in Stockholm CBD, Sweden. The time period under study is 1977-1991. The number of...

This article examines the inflation hedging ability of the commercial real estate sector in the Republic of Ireland. Tests using the conventional Fama and Schwert (1977) model are conducted, together with cointegration and causality tests. The data is initially analyzed over the period 1985 to...

In this study, we offer a refinement to a return attribution method proposed by the pioneers of return attribution analysis. Returns for the aggregate portfolio are decomposed into selection and allocation contributions as originally presented. We introduce the use of a neutral effect, which...

This study presents an analysis of the citation patterns and rankings for journals in real estate and related areas for the period 1990-1995. Journals were ranked based on the number of times the journals were cited in four base journals with adjustments for journal size and longevity. The...