This paper introduces new real estate price indices for 18 major German cities and their neighborhoods (Stadtbezirke) as well as a new composite indicator for the German housing market - the German Real Estate Index (GREIX). The series are constructed on the basis of long-run transaction level...

We investigate the existence of wage premium due to cultural diversity across US cities. Using census data from 1970 to 1990, we find that at the urban level richer diversity is systematically associated with higher average nominal wages for white US-born males. We measure cultural diversity in...

Despite evidence that skilled labor is increasingly concentrated in cities, whether regional wage inequality is predominantly due to differences in skill levels or returns is unknown. We compare Appalachia, with its wide mix of urban and rural areas, to other parts of the U.S., and find that...

The authors test opposing theories on how urban locations influenced the diffusion of Internet technology. They find evidence that, controlling for industry, participation in the Internet is more likely in rural areas than in urban areas. Nevertheless, talk of the dissolution of cities is...

Prices for, and the affordability of childcare has received increased attention since the advent of the COVID-19 pandemic. In addition, concerns have been raised about potential differences in childcare costs and access between rural and urban communities. To address these issues, we combine...

We examine the relationship between human capital and economic activity in U.S. metropolitan areas, extending the literature in two ways. First, we utilize new data on metropolitan area GDP to measure economic activity. Results show that a one-percentage-point increase in the proportion of...

We document that home ownership of households with 'heads' aged 25-44 years fell substantially between 1980 and 2000 and recovered only partially during the 2001-2005 housing boom. The 1980-2000 decline in young home ownership occurred as improvements in mortgage opportunities seemingly made it...

Extending the controversial findings from relevant literature on testing the efficient market hypothesis for the U.S. housing market, the results from the monthly and quarterly transaction-based Case-Shiller indices from 1987 to 2009 provide further empirical evidence on the rejection of the...

In this paper, we present a directed search model of the housing market. The pricing mechanism we analyze reflects the way houses are bought and sold in the United States. Our model is consistent with the observation that houses are sometimes sold above, sometimes below and sometimes at the...