We study the effect that changes of commuting costs to intra urban employment centers may have on property prices in Bogotá, Colombia. To explore the relationship between prices and communing costs, we use a difference in difference spatial model. Parametric and non-parametric estimations...

The empirical literature on mergers, market power and collusion in differentiated markets has mainly focused on methods relying on output and/or panel data. In contrast to this literature we suggest a novel approach that allows for the detection of collusive behaviour among a group of firms...

Unlike many other major asset classes, when buying a physical asset like real estate, the legal date of the transfer of ownership is typically somewhere after the date of purchase. Using residential real estate as an example, we hypothesize that this period, the time-to-close, has a positive...

The taxation of property based on market values requires frequent appraisals for a large number of properties. In light of the recent property tax reform discussion in Germany, it has been argued that a valuebased tax therefore cannot be implemented at a reasonable cost. In several other...

Physical climate risks can have a large regional impact, which can influence mortgage loans' credit risk and should be priced by the lenders. Motivated by the relevance of climate change for financial intermediaries, our paper aims at analysing if physical climate risks are being reflected in...

This study examines Malta's peer-to-peer (P2P) rental market by comparing rental listings from Facebook Marketplace and an aggregation of real estate agencies' adverts, while the Housing Authority's official register is used as the benchmark characterising the local rental market. Using a...

Digital platforms alter almost every industry in the modern economy (De Reuver et al., 2018). For instance, in the media industry, there is an increasing shift from traditional media outlets such as newspapers and television to online newspapers, social media, or platforms such as Netflix or...

A quarter of the population in high-income countries lives in rural areas. However, existing empirical evidence on these areas in OECD countries is scarce. Over the past several decades, many rural areas have been declining. Nevertheless, it is unclear whether these struggling rural areas are...

We introduce the concept of racial capital, defined as the collective material and non- material assets of the racial groups to which a child is exposed while growing up, and examine its potential to explain racial disparities in life outcomes that persist even after accounting for a broad range...

Real estate developers face significant risks in managing new developments, and presale contracts are commonly used to shift these risks to buyers. We develop a theoretical model to show that presale prices are an increasing function of time and that earlier presales are associated with greater...