Singapore's government imposes a new transaction tax in the form of additional buyer's stamp duty (ABSD) on developers who fail to sell all units in 5 years in new developments commenced after 2011. We find that the ABSD shocks trigger rational responses of private developers who cut prices by...

Singapore's government imposed two rounds of demand restrictions in 2011 and 2013, respectively, which disallow private housing owners from concurrently owning a private housing unit and a public housing flat. These restrictions curb speculative and investment activities, but do not deter public...

This study uses the opening of the new Circle Line (CCL) in Singapore as a natural experiment to test the effects of urban rail transit networks on non-landed private housing values. We use a network distance measure and a local-polynomial-regression approach to identify the CCL impact zone that...

This study employs an administrative dataset containing high-frequency transaction records for approximately four million smart transit cards used by Singaporean residents in order to study the travel preferences of public transport commuters. We examine the impact of service attributes,...

The governments of Malaysia and Singapore reached a landmark agreement in May 2010 to end the leases for the nearly 80-year-old railway lines and stations in Singapore, which were operated by Keretapi Tanah Malaya (KTM), a firm owned by the Malaysian government, with effect from July 1, 2011....

The paper examines differences in housing externalities across regions with different political affiliations. Using a merged dataset containing data on public housing upgrading, resale public housing transactions, electoral boundaries and election results from 2010 to 2016 and a...

Urban transit systems bring social and economic benefits but generate disamenities to residents who live close to transit tracks. This paper empirically estimates the real costs of noise disamenities generated from mass rapid transit (MRT) tracks on public housing prices in Singapore. We use the...

This study uses the opening of the new Mass Rapid Transit (MRT) line, known as the Circle Line (CL), in stages between 2010 and 2012 in Singapore as the exogenous event to empirically test the impact of the new CL on housing wealth of households. Applying a “differences-in-differences”...

We use a unique administrative dataset of over 10,000 taxi drivers in Singapore to study the labor supply decisions of these drivers. Our study uses a high frequency dataset to test whether cabdrivers exhibit reference-dependence preferences. We estimate cabdrivers’ day and day-of-the-week...