Public agencies often rely on their power of compulsory acquisition of privately owned land when it comes to procuring land for large infrastructure projects. Over the years, the process of compulsory acquisition has evolved to compensate the affected landowners better, to the extent of paying...

This paper explores a model in which large transitory financial shocks can generate persistent slumps in output, land prices, and interest rate. The propagation originates from high sensitivity of land prices with respect to fundamental, which is achieved by a land consumption channel that...

Land prices across administrative boundaries can be useful for estimating the causal effects of local policy. Market anticipation about potential boundary changes can confound identification, so studies often avoid markets where this may arise. We develop an approach to quantify anticipation by...