The recent trend of immigrants arriving in mid-size metropolitan areas has received growing attention in the literature. This study examines the success of immigrants in the housing markets of a sample 60 metropolitan areas using Census microdata in both 2000 and 2005. The results suggest that...

The Japanese economic policy experience in the 1990s was the worst observed in the country for manydecades. The government withheld critically important economic information from the public, such as thesize of non-performing loans held by financial institutions, while policy-makers were waiting...

Large racial differences in home ownership have been a source of considerable concernamong policymakers because homeownership choice may influence wealth accumulation, labormarket outcomes, and even children's educational outcomes. Racial differences in ownershiprates may be affected by...

This paper explores whether service reliability determines transit patronage. Using a unique historical archive of service supply, performance, and patronage data from the Los Angeles Metro bus and rail system, we analyze whether service reliability explains in part the variation in patronage...

The residential mortgage market becomes a financial engine for the booming residential housing development and sustained economic growth in China. Our study provides the first rigorous empirical analysis on the earlier performance of residential mortgage market in China based on a unique micro...

Hotel real estate industry is an important economy in the U.S. This study examines the return patterns of hotel real estate stocks in the U.S. from 1990 to 2007. This study utilizes an integrated framework which includes the most critical explanatory variables to investigate the determinants of...

This study evaluates the effects of GSE mortgage purchase activity on homeownership and housingconditions among communities that are the focus of the 1992 GSE Act and the HUD affordablehousing goals. To identify GSE effects, the test framework exploits differences in the definition...

Subordination levels are of critical importance in the classic senior-subordinated structure for securitized financing (such as collateralized debt obligations and commercial mortgage-backed securities). Subordination levels determine the amount of credit support that the senior bonds (or...

Simple introspection as well as accumulating evidence from academic research suggests that a core idea of urban economists, that journeys-to-work dominate households’ choice of residential location, is suspect (Giuliano and Small, 1993). Indeed, our own recent research identifies...

This paper outlines a method for using the mathematics of fuzzy sets that is well suited tomeasure and characterize peri-urbanizing ("desakota") systems typical of China, Southeast Asia,and other areas experiencing rapid urbanization. Drawing on Kosko's "fuzzy hypercube", threedistinct but...