This paper shows that rising real estate prices reduce industry productivity, because they lead to a reallocation of capital and labor towards inefficient firms. I establish that the rise in real estate value during the US housing boom relaxes firms' financial constraints. Companies borrow...

Chapter 1. Statistical multi-dimensional scaling under the geographical constraints: The development of Bayesian Multi-dimensional Scaling and its application to time-space mapping -- Chapter 2. Structure of Place Attachment, and Relationship with Predictors and Consequences of Place Attachment...

Recommended readings (Machine generated): 1. Richard Dusansky and Paul W.Wilson (1993), 'The Demand for Housing: Theoretical Considerations', Journal of Economic Theory, 61 (1), October, 120-38 -- 2. Yannis M. Ioannides and Jeffrey E. Zabel (2008), 'Interactions, Neighborhood Selection and...