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In this paper I study unit-level data on house prices and rents in Central London. I document the existence of systematic differences in price-rent ratios across property types within the same urban area: bigger properties and properties located in more expensive neighborhoods have higher...
Persistent link: https://www.econbiz.de/10011397314
This paper studies optimal time-consistent macroprudential policy in a model with endogenous capital formation. Previous studies on optimal time-consistent macroprudential policy in economies where borrowing is limited by the value of collateral assume that aggregate capital is fixed or apply...
Persistent link: https://www.econbiz.de/10015202305
Fluctuations in the aggregate balance sheets of financial intermediaries provide a window on the joint determination of asset prices and macroeconomic aggregates. We document that financial intermediary balance sheets contain strong predictive power for future excess returns on a broad set of...
Persistent link: https://www.econbiz.de/10010270243
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According to the possibilities offered by the existing resources, rural development in Romania is still difficult to achieve. The economic-social gaps between the urban and rural areas are among the highest in the EU and relatively at the same amplitude for many years. The recent period, marked...
Persistent link: https://www.econbiz.de/10015049587
Living conditions in the rural area are precarious in Romania, our country being at the bottom of the European ranking, and the situation is getting worse as the degree of isolation increases (mainly in the hilly and mountain areas) combined with the precariousness of livelihood resources in...
Persistent link: https://www.econbiz.de/10015049637
We use a GMM approach to estimate the impact of standard macroeconomic variables on house prices in Germany. In order to avoid interpolation of house price data we use annual data and look separately at the demand and supply side. Our findings suggest that nominal and real house prices in...
Persistent link: https://www.econbiz.de/10010270201
This paper studies the effectiveness of building height limits as a policy to limit greenhouse gas (GHG) emissions. It shows that building height limits lead to urban sprawl and higher emissions from commuting. On the other hand, aggregate housing consumption may decrease which reduces emissions...
Persistent link: https://www.econbiz.de/10010396734