We analyze the major challenges for the Ukrainian tax system for the post-war recovery of Ukraine. We identify four areas of concern: a large shadow economy, high taxation of labor income and a complex filing process and limited redistribution. For example, self-employed persons face only a flat...

Individuals form economic expectations for a given region by extrapolating from the economic outcomes of another geographic area, a phenomenon we term 'spatial extrapolation.' We exploit the scenario when Out-of-town (OOT) buyers purchase property in places different from their previous...

In our evaluation of the housing expenditure share cap, a macroprudential policy, we discover the importance of modeling space. The spatial considerations allow households to sort into segmented housing markets based on income. Our model generates the observed negative relationship between...

Until recently, the literature ignored the interactions between housing and macroeconomics. Thanks to many researchers' contributions, the macro-housing field is in development. This review complements previous research and highlights a few areas that have made significant progress lately. They...

Tourism's positive and negative externalities are of an extreme social and economic importance for the tourism dominant countries. In particular, studying tourism's impact on housing prices has experienced increased interest over the past decade as it has a relevant influence on real estate...

This research investigates patterns and dynamics of population, migration and economic change in Australian regional urban centres 2011–2016 through the changing economic profile and performance of Australia’s regional urban centres and assesses how demographic and migration patterns are...

This paper provides an empirical analysis of the levels and trends in the industrial diversity of Canadian cities over the past ten years (1992-2002), a period of significant structural change in the Canadian economy. Diverse cities are thought to be more stable and provide environments that...

We examine the impact of peer-to-peer (P2P) short-term rentals on housing affordability. Using a simple model we illustrate that, although growth in the short-term rental market leads to higher housing prices, home-sharing profits can offset increased housing costs. That is, we show the net...

Systemic risk must include the housing market, though economists have not generally focused on it. We begin construction of an agent-based model of the housing market with individual data from Washington, DC. Twenty years of success with agent-based models of mortgage prepayments give us hope...