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leads to soil subsidence and subsequent induced earthquakes that may occur only after a couple of decades. We show that … induced earthquakes that are noticeable to residents generate substantial non-monetary economic effects, as measured by their … earthquakes do not occur randomly over space, we use temporal variation in the occurrence of noticeable earthquakes while …
Persistent link: https://www.econbiz.de/10011288383
leads to soil subsidence and subsequent induced earthquakes that may occur only after a couple of decades. We show that … induced earthquakes that are noticeable to residents generate substantial non-monetary economic effects, as measured by their … earthquakes do not occur randomly over space, we use temporal variation in the occurrence of noticeable earthquakes while …
Persistent link: https://www.econbiz.de/10010504117
Persistent link: https://www.econbiz.de/10011593706
This paper confirms that a regime-switching model out-performs a linear VAR model in terms of understanding the system dynamics of asset returns. Impulse responses of REIT returns to either the federal funds rate or the interest rate spread are much larger initially but less persistent....
Persistent link: https://www.econbiz.de/10008550570
This paper uses a simple model based on the board game Monopoly to analyze the drivers of house prices and wealth inequality. Simulations show that inequality generally builds up fast even if players have equal starting conditions and house prices are stable; rising house prices imply more...
Persistent link: https://www.econbiz.de/10012099109
A noticeable data gap in the evaluation of any property market is that of a residential land price series. Land costs are one of the most significant components of housing construction, however many markets do not have accurate information on such prices. The Irish housing market, more than most...
Persistent link: https://www.econbiz.de/10014540440
How have house prices evolved in the long-run? This paper presents annual house price indices for 14 advanced economies since 1870. Based on extensive data collection, we are able to show for the first time that house prices in most industrial economies stayed constant in real terms from the...
Persistent link: https://www.econbiz.de/10010420724
In this paper we describe the Czech National Bank's approach to incorporating macroprudential considerations into monetary policy decision making: the use of a broader inflation measure that gives substantial weight to house prices and is considered along with headline CPI inflation. We argue...
Persistent link: https://www.econbiz.de/10011787301
The acceleration of house price growth amidst falling interest rates to record-low levels across euro area countries between 2015 and 2021 has sparked renewed interest in the link between the two variables. Asset-pricing theory suggests that real house prices respond to changes in real interest...
Persistent link: https://www.econbiz.de/10014374477
I study the effects of an increase in the supply of local mortgage credit on local house prices and employment by exploiting a natural experiment from Switzerland. In mid-2008, losses in U.S. security holdings triggered a migration of dissatisfied retail customers from a large, universal bank,...
Persistent link: https://www.econbiz.de/10012144717