This study analyzes the impact of contemporaneous loan stress on the termination of loans in the commercial mortgage-backed securities pool using a novel measure, based on changes in net operating incomes and property values at the MSA-property type-year level. Employing a semi-parametric...

This research examines housing market price efficiency across locations within a metropolitan market the hallmark of hedonic theory. Our innovation is to introduce temporal as well as spatial considerations of price efficiency. In an efficient market, the price (level) of housing must not only...

This research examines the relationship between hedonically controlled housing price levels and subsequent changes in those prices across locations within MSAs. Our hedonic controls are extensive and so we ask whether between observationally equivalent houses those with higher prices have...

This study analyzes the impact of contemporaneous loan stress on the termination of loans in the commercial mortgage-backed securities pool using a novel measure, based on changes in net operating incomes and property values at the MSA-property type-year level. Employing a semi-parametric...

This study analyzes the impact of contemporaneous loan stress on the termination of loans in the commercial mortgage-backed securities pool from 1992 to 2004 using a novel measure, based on changes in net operating incomes and property values at the metropolitan statistical...

Most tenure choice models using cross sectional data have used either a sample ofrecent movers or a sample comprising all households. There are problems withestimating both types of models in cross sectional data. A sample of recent movers oversamples renters, and a sample of all households will...

This paper presents a descriptive analysis of spatial trends in six US metropolitan areas. The results show that jobs continued to decentralize from the metropolitan core to the suburbs and generalized jobs dispersion was more common than subcentering in the 1980s and 1990s. Three distinctive...

This paper assess cultural affinity as a potential explanation for observed racial disparities in mortgage rejection rates. Two formulations of the theory have evolved in the literature. The taste-based cultural affinity hypothesis asserts that lenders have a blanket preference for members of...