The recent and growing literature which has extended the use of search and matching models even to the housing market does not use the free entry or zero-profit assumption as a key condition for solving the equilibrium of the model. This is because a straightforward adaptation of the basic...

Studies on real estate economics neglected the relationship between hedonic prices and capitalization rate, thus considering the hedonic models and the income approach as two separate and alternative appraisal methods. In this short theoretical paper we show that integration is possible and...

This paper aims to formalise both the role of trust (in) and power (of) tax authorities as major determinants of tax compliance, and the interplay between trust and power and its influence on tax climate and overall tax compliance. Unlike the related literature that studies the role of the...

The aim of this short paper is to empirically test the key hypothesis of the ‘slippery slope' framework, namely: (1) trust (in) and power (of) tax authorities are both necessary to guarantee a high level of tax compliance; (2) the interaction between trust and power, as well as voluntary tax...

This very brief note improves the paper by Lisi (2012) by removing from the model an unrealistic feature.

The proposed theoretical work introduces the basic insights of the ‘slippery slope’ framework into the benchmark macroeconomic model of the labour market in order to study the relation between tax compliance (both voluntary and enforced), tax evasion and unemployment. This paper shows that...

This paper has two interconnected goals. The first is to provide a simple method for measuring the variance in house prices which can not be attributed to the heterogeneous nature of real estate goods. The second goal is to show the strong statistical significance of this residual volatility in...

This paper examines whether the Mortensen-Pissarides matching model can account for the housing market facts, most of all the empirical anomaly known as ‘price dispersion’. Our main finding is that the model can account for the three basic facts of housing market (namely, the existence of...

There are two types of home seekers in this housing market matching model: the homeless who search for a dwelling both in the rental market and in the homeownership market simultaneously; and the home seekers in the renter (tenant) state who want to buy a home and only search in the...