We test whether rural versus urban location, and the amount of social capital present in those locations, influence the performance of Small Business Administration (SBA) 7(a) loans originated between 1984 and 2012. On average, we find that rural loans are about 11% less likely to default than...

The use of artificial neural networks in the modeling of foreclosure of commercial mortgages is explored by employing a large set of individual loan histories previously used in the literature of proportional hazard models, and specifically in Vandell et al (JAREUEA: 21(4), 451-480). Radial...

Complex mortgages exhibit deferred amortization and enable households to postpone loan repayment in contrast to fully amortizing traditional mortgages. Unlike the low income population targeted by subprime mortgages, complex mortgages are used by households with high income levels and prime...

This paper presents and investigates a new data set of individual residential property transactions in England. The main novelty of the data is the record of all listing price changes and all offers made on a property, as well as all the visits by potential buyers for a subset of the properties....

Identification of the strength of human capital externalities at the aggregate level is still not fully understood. The existing method may yield positive or negative externalities even if wages reflect marginal social products. We propose an approach that yields positive average human capital...

This paper contributes to the literature on the effectiveness of R&D incentives by evaluating a unique investment subsidy program implemented in northern Italy. Firms were invited to submit proposals for new projects and only those that scored above a certain threshold received the subsidy. We...

This paper examines whether the Mortensen-Pissarides matching model can account for the housing markets facts, most of all the empirical anomaly known as ‘price dispersion’. Our main finding is that the model can account for the three basic facts of housing market, without any restrictive...

A body of evidence has emerged in the literature on intergenerational mobility documenting that countries with large income differences also have less intergenerational mobility: a relationship known as the Great Gatsby Curve. In this paper, I estimate the Great Gatsby Curve within Sweden...

The use of incentive packages has intensified as local governments compete for new plants and corporate relocations, and as private firms increasingly demand a deal. While incentives promise jobs and tax revenue, scholars and practitioners criticize their high cost and limited accountability....

We use the adaptive cycle theory to improve our understanding of cycles of urban change in the city of Barcelona from 1953 to present. Most specifically, we explore the vulnerabilities and windows of opportunity these cycles for change introduced in the release (Ω) and reorganization (α)...