Urban renewal areas are popular but empirically understudied spatial planning instruments designed to prevent urban decline and induce renewal. We use a quasi-experimental research design to study the effects of 22 renewal areas implemented in Berlin, Germany, to increase housing and living...

Using hedonic pricing models, this paper analyzes the impact of places of worship on the prices of adjacent condominiums in Hamburg, Germany. This is the first study on this subject to have been conducted outside the United States. It is also the first work to examine the externalities of places...

Under tenancy rent control, rents are regulated within a tenancy but not between tenancies. This paper investigates the effects of tenancy rent control on housing quality and maintenance. Since the discounted revenue received over a fixed-duration tenancy depends only on the starting rent,...

In most applications of complete systems of demand functions to national accounts data it is implicitly assumed that the demand functions are identified. For post-war Sweden this is not an altogether good assumption because due to rent control there was an excess demand for housing. In this...

The slowdown in the US economy in 2008, and in the housing market in particular, has been accompanied by a sharp fall in house prices and a glut of homes for sale on the market. While the idea that this overhang of dwellings for sale should place downward pressure on house prices is intuitive,...

An enormous increase of initial rents in many German cities over the last decade has prompted the current grand coalition to implement a new rent control called "Mietpreisbremse" in 2015 (literally a brake on rental prices). This reform aims to stop exploding rents and to provide particularly...

This paper studies the role of the Community Reinvestment Act (CRA) in the recent US housing boom-bust cycle. Using a difference-in-differences matching estimation, I find that the enhancement of CRA enforcement in 1998 caused a 7.7 percentage points increase in annual growth rate of mortgage...

This paper assesses the linkages between money, credit, house prices and economic activity in industrialised countries over the last three decades. The analysis is based on a fixed-effects panel VAR estimated using quarterly data for 17 industrialized countries spanning the period 1970-2006. The...

This paper empirically assesses the prospects for house price spillovers in the euro area, where co-movement in house prices across countries may be particularly relevant given a general trend with monetary union toward increasing linkages in trade, financial markets, and general economic...

This study looks at real estate price booms and busts in industrialised countries. It identifies major and persistent deviations from long term trends for 18 countries and estimates the probabilities of their occurrence using a Random Effects Panel Probit model over the period 1980-2007. It...