In this study, we develop and apply a new methodology for obtaining accurate and equitable property value assessments. This methodology adds a time dimension to the Geographically Weighted Regressions (GWR) framework, which we call Time-Geographically Weighted Regressions (TGWR). That is, when...

In this paper, we estimate the causal effect of public debt on real estate prices and rental prices. We identify shocks to investment credits of self-governed cities in Germany and control for potential benefits such as an increased supply of public goods, which might come in hand with increased...

Employing a unique quasi-experiment -- spillovers caused by the imposition of local house purchase restrictions to nearby non-regulated cities, we study the effects of out-of-town housing demand and policy spillovers. This quasi-experiment induces sharp increases in house prices but not local...

This paper provides novel evidence on the effects of LTV limits on housing choices. I exploit the 2010 and 2012 introduction of LTV limits in Israel using a detailed loan-level dataset. I find that the LTV limits, which were designed to lower borrowers' risk, resulted in borrowers choosing more...

Many of the world's major cities have attracted a flurry of out-of-town (OOT) home buyers. Such capital inflows affect house prices, rents, construction, labor income, wealth, and ultimately welfare. We develop an equilibrium model, calibrated to the typical U.S. metropolitan area, to quantify...

This paper examines the degree to which unfunded obligations of public-sector pension plans are capitalized into house prices. While there has been a growing focus on the size of unfunded pension obligations of state and local governments, their impact on local housing markets has been far less...

We investigate the relationship between crime and property prices in the Santiago (Chile) real estate market. Our study differs from most previous studies in many respects. First, we distinguish between two property types (single-family homes and apartments); and second, we consider twelve...

We examine the impact of household mortgages on house prices. Using biannual data on Italian cities for the years 2003-2015, we build an exogenous and fully data-driven indicator of mortgage supply stances and use it as an instrument for actual extended mortgages. Our results indicate that...

This study aims to establish a proportional perspective of the contribution of UK mortgage lenders to the domestic housing bubble and the ensuing financial crisis, based on a carefully built theoretical framework. The theory captures credit constraint as a transmission mechanism for speculative...

In this paper, we estimate the causal effect of public debt on real estate prices and rental prices. We identify shocks to investment credits of self-governed cities in Germany and control for potential benefits such as an increased supply of public goods, which might come in hand with increased...