This paper aims to achieve two objectives. First, we demonstrate that with respect to business cycle frequency (Burns and Mitchell, 1946), there was a general decrease in the association between macroeconomic variables (MV) and housing market variables (HMV) following the global financial crisis...

We study whether floods can affect financial stability through a credit risk channel. Our focus is on the Netherlands, a country situated partly below sea level, where insurance policies exclude property damages caused by some types of floods. Using geocoded data for close to EUR 650 billion in...

Recently, blockchain technology has been introduced in multiple sectors and industries. This technology is currently stimulating a broader process of social and industrial transformation impacting several potential areas of adoption (e.g., payments, tracking and tracing solutions, authenticity)....

This article examines the determinants of the location of large firms headquarters across a rich sample of European urban areas, focusing on the availability of non-stop intercontinental flights. We also account for the influence of other aspects: the proximity to large markets and specialized...

Digital technology can open new frontiers in the formation, registration, and enforcement of property rights in land. This chapter explores the prospects - but also the limits - of digital technology in streamlining efficient land use and land markets. In particular, it asks whether the digital...

This paper introduces a new international longitudinal database of governmental housing policies. The regulations are measured using binary variables based on a thorough analysis of the real-time country-specific legislation. Three major restrictive policies are considered: rent control,...

Despite their importance in macroeconomic and financial stability analysis, residential property data are not easily available on a comparable basis. The BIS currently publishes more than 300 price series for 55 countries, among which it has selected one representative series for each country....

Asset prices in general, and real house prices in particular, are often characterized by a nonlinear data-generating process which displays mildly explosive behavior in some periods. Here, we investigate the emergence of explosiveness in the dynamics of real house prices and the role played by...

If firms were animals rather than economic entities, a behavioral scientist trying to describe their traits would observe that firms tend to be found in herds and usually migrate towards the biggest watering holes. This paper surveys the literature on the questions why firms grow stronger with...