Understanding potential spillovers from the attributes and actions of neighborhood residents onto the value of surrounding properties and neighborhoods is central to both the theory of urban economics and the development of efficient housing policy. This paper measures the capitalization of...

This paper studies the geography of competition on Moscow commercial real estate market. We estimate the elasticity of office rental price to the prices of competing objects as a function of the geographical distance. We found that office real estate market in Moscow, although saturated, is...

The price of vacant land zoned for housing is expected to be tightly linked to housing prices. In informationally efficient markets, vacant lot price movements should not lag changes in housing prices. In practice, however, the leading role of housing appreciation with respect to vacant lot...

The interrelationship between house prices and mortgage credit has been one of the more compelling issues to warrant attention after the recent financial crisis. Considerable financial innovation and liberalisation of wholesale international funding markets over the past 20 years greatly...

The purpose of this work is to find empirical evidence on the behavior of the prices in an insular region, with a market of small size and, simultaneously, fragmented. To that end, with consumer price data for four products of the food and beverage group observed in the Canary Islands we study...

The price of vacant land zoned for housing is expected to be tightly linked to housing prices. In informationally efficient markets, vacant lot price movements should not lag changes in housing prices. In practice, however, the leading role of housing appreciation with respect to vacant lot...

Despite evidence that aggregate housing price are predictable, a random walk in time and independence in space are two maintained hypotheses in the empirical models for housing price measurement used by government and commercial companies. This paper examines the price discovery process in...

Following price and exchange rate liberalization, domestic consumer prices in Russia moved closer to market levels. This paper quantifies the magnitude of the associated relative price changes. It also shows that relative price variability has been positively correlated with inflation. It is...

This paper studies the adjustment patterns of Finnish Consumer Price Index (CPI) from the following perspectives. First, we examine how the adjustment patterns have changed from late 1990s to mid 2000s. We find significant differences in the price adjustment patterns both over time and between...

This paper utilizes transaction-level data to examine the effect of the minimum wage on US retail prices. We find minimal price pass-through across a variety of identification strategies. Additionally, there is no evidence of anticipation/retrospective adjustment in prices, heterogeneous...