We develop a simple spatial equilibrium model with the peer group effect and local public finance to analyze the implications of housing policies such as public housing and housing voucher programs, and education policies such as school finance consolidation. The calibrated model can match...

Children from poor families achieve more academically if they are enrolled in schools that are socioeconomically integrated, but low-income students are increasingly attending schools characterized by high concentrations of poverty. Providing more housing opportunities for low-income families...

The paper built the basic theoretical model for urban house price, based on a marginal analysis of house market. The contributions are the three. (1) We discovered, in real world’s house market, there are three factors that strongly influence house price, and we show the reason. (2) We built a...

The house price in Hong Kong is well-known to be "unaffordable." This paper argues that the commonly used house price-to-income ratio may be misleading in an economy with almost half of the population living in either public rental housing or subsidized ownership. Moreover, we re-focus on the...

Children from poor families achieve more academically if they are enrolled in schools that are socioeconomically integrated, but low-income students are increasingly attending schools characterized by high concentrations of poverty. Providing more housing opportunities for low-income families...