This paper provides a model for the well-known empirical phenomenon that houses of different quality experience different price developments. The typical pattern is that luxury houses appreciate more in boom periods and depreciate more during busts. The standard model of housing demand treats...

This study focuses on the hegemonic ascendancy of neoliberalism encountering contestations and social unrest in Istanbul (Turkey).Through the case of Sulukule (Istanbul), our aim is to illustrate how gentrification as a neoliberal instrument utilized by a conservative/Islamist local government...

This paper uses the British Household Panel Survey (1991-2008) and the UK Census (waves 1991, 2001 and 2011) to examine the association between gentrification and displacement in English cities. Gentrification is the phenomena of a large and relatively sudden in-migration of wealthy or middle...

Economist has traditionally been skeptical about the potential effects of place-based policies. Some authors (see, e.g., Overman and Nathan, 2013, and Kline and Moretti, 2014) argued that place-based policies are an imperfect solution to deal with social problems, for many reasons. First,...

Provided that there are positive external benefits attached to the historic character of buildings, owners of properties in designated conservation areas benefit from a reduction in uncertainty regarding the future of their area. At the same time, the restrictions put in place to ensure the...

This study basically focuses on the analysis of the net effect of the government R&D support program on the local firms' technology development and its performance. And then it examines whether and how much R&D raises the effects of local firms' technology development and its performance. It...

Social welfare is a major issue in both developing and developed countries, including Korea. Political parties are especially struggling with the choice between universal or selective welfare but hardly any clear guidelines exist. This paper reviews universal versus selective welfare concepts...

Private equity companies have become a major force in the economic landscape. Financial- and operational-engineering are innovative characteristics of this emerging method of finance. The existing empirical data provide strong evidence that private equity activity contribute positively to the...