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New estimates of the elasticity of substitution of land for capital

Ahlfeldt, Gabriel M.; McMillen, Daniel P. - 2014

We reconcile conflicting evidence on the magnitude of the elasticity of substitution of land for capital, which is a key determinant of the relationship between the price of land and the density of land use. We first compare the performance of classic estimation approaches with a new estimation...

Persistent link: https://www.econbiz.de/10011504420

On prisoner's dilemmas and gilded cages : the economics of heritage preservation

Ahlfeldt, Gabriel M.; Möller, Torsten Kristoffer; … - 2012 - Preliminary and incomplete draft, version: February 2012

Assuming that owners are fully compensated for the costs and benefits through the prices they pay for properties, we investigate the effects conservation areas have on value in England in a spatial hedonic analysis of property prices. Controlling for a particularly rich set of property and...

Persistent link: https://www.econbiz.de/10011508710

Keynes as a trader in commodity futures

Marcuzzo, Maria Cristina; Sanfilippo, Eleonora - In: Financial markets in perspective : lessons from …, (pp. 61-81). 2022

While Keynes is known for his theory of normal backwardation in futures markets, he is less known as a trader in these … markets. The question arises whether his theory acted as a guide to his trading activity or, rather, whether it was his … trading activity that shaped his theory. Backwardation was not viewed by Keynes as a permanent feature of futures market, but …

Persistent link: https://www.econbiz.de/10013172071

The economics of conservation area designation

Ahlfeldt, Gabriel M.; Möller, Torsten Kristoffer; … - 2013 - Version: November 2012, draft version

properties in designated conservation areas benefit from a reduction in uncertainty regarding the future of their area. At the … properties can be altered and thus impose a cost to their owners. We test a simple theory of the designation process in which we …

Persistent link: https://www.econbiz.de/10011684920

Expectations, conjectures and beliefs. the legacy of Marshall, Kahn and Keynes

Marcuzzo, Maria Cristina - In: Expectations : theory and applications from historical …, (pp. 53-67). 2020

The purpose of this chapter is to portray a mode of inquiry into expectations by three Cambridge authors in which the expectations are not conceptualized or modelled on the basis of a probability distribution. As to whether this is due to a clearly stated opposition (as in the case of Keynes) or...

Persistent link: https://www.econbiz.de/10012199562

Kalecki and Cambridge

Marcuzzo, Maria Cristina - In: Review of political economy 32 (2020) 4, pp. 500-510

Persistent link: https://www.econbiz.de/10012425492