This paper examines the effect of economic policy uncertainty on the performance of the real estate sector proxied by Real Estate Investment Trust (REIT) returns in the United States. Using monthly REIT index data and the monthly changes in a newly constructed index of economic policy...

This paper exploits a uniquely-detailed dataset of capital flows into US cities via real estate investments. We identify how places were differently affected by the global financial crisis and provide a powerful explanation of why US economic growth continues to experience ongoing spatial...