A search model of the labor market is augmented to include commuting time to work. The theory posits that wages are positively related to commute distance, by a factor itself depending negatively on the bargaining power of workers. Since not all combinations of distance and wages are accepted,...

The U.S. residential housing market collapse illustrates the consequences of ignoring risk while funding mortgage borrowing. Collateral over-valuation was a foundational piece of the crisis. Over the past few decades, secondary markets, securitization, policy and psychology increased the flow of...

A search model of the labor market is augmented to include commuting time to work. The theory posits that wages are positively related to commute distance, by a factor itself depending negatively on the bargaining power of workers. Since not all combinations of distance and wages are accepted,...

It has been argued that during the Great Recession, wealth losses were more concentrated for college-­educated Black and Hispanic families than for White and Asian college-educated families and their non-college-educated Black and Hispanic peers. This article explores the extent to which the...

As the refugee crisis deepens and more migrants and refugees arrive each day, political policies and economic discussion becomes more complex and relevant to states' local and national agendas. Compounding the practical difficulties associated with this influx, terrorist attacks in Paris,...

The aim of this report is to ascertain priority concerns for further climate proofing action through opposing current EU efforts to different threats, and suggest complementary options (cf. chapter 3) for the following four sectors: (1) Energy, (2) Transport infrastructure, (3) Urban areas, and...

This article discusses how macroeconomic arguments should shape the design of mortgage contracts. Mortgage recourse systems, by discouraging default, magnify the impact of nominal rigidities and cause deeper and more persistent recessions. Default mitigates liquidity traps because it...

We examine long-run house price convergence across the twenty Paris districts using a quarterly dataset that spans from 1991 to 2014. Our approach is based on two stages. In the first stage, we apply methods of unit root testing. Our econometric modelling exercise adopts a pair wise approach...

This paper provides empirical evidence that helps to answer several key questions relating to the extent and causes of urban sprawl in Europe. Building on the monocentric city model, this study uses existing data sources to derive a set of panel data for 282 European cities at three time points...

The economic and financial crisis has generated a significant amount of adverse effects in all European economies, although with substantial differences by countries. For Spain the effects have been severe. From the last third of the last century until the middle of 2008 the economy experienced...