The financial underperformance of art as an investment is well documented. In contrast to studies conducted on peace-time periods, this paper shows that the art market in occupied France during WWII significantly outperformed all alternative investments (bonds, equities, as well as currencies...

This note examines the investment performance of diamonds and other gems (sapphires, rubies, and emeralds) over the period 1999–2010, using a novel data set of auction transactions. Over our time frame, the annualized real USD returns for white and colored diamonds equaled 6.4% and 2.9%,...

As the global financial crisis hit the world-wide stock markets, investors looked for alternative investments to diversify their portfolios. One of the more attractive alternate investment opportunities has been investment in art. However, in order to consider artworks as investment assets, the...

Standard measures of consumer price inflation are based on a bundle of representative goods. It is well known that this approach might overstate inflation for new products and products with fast increasing quality. For this reason, hedonic adjustment methods have been proposed and introduced in...

Supply subsidies to owners of rental housing construction are typically aimed at increasing the overall size of the housing stock or at guaranteeing affordable housing for low-income households. This paper studies whether and how much the tenants of social housing units benefit from this...

Market value predictions for residential properties are important for investment decisions and the risk management of households, banks, and real estate developers. The increased access to market data has spurred the development and application of Automated Valuation Models (AVMs), which can...

Individual sales prices and local vacancy rates in the housing market pose a natural analogy to the wage curve, a popular concept in labor economics that describes how individual wages decrease with higher local unemployment. While housing search and matching models and housing externalities...

This thesis assesses the methods for pricing heterogeneous assets, with specific examination of the Australian residential real estate market. Each of the three primary methods for controlling for heterogeneity in residential real estate pricing research – median-price analysis, hedonic...