We show that a proper assessment of the linkages between real estate markets and the economy requires state of the art modelling techniques, which treat economic variables endogenously and allow for a number of long run relationships. We therefore use a long run structural modelling approach,...

We conduct an empirical investigation of the pricing and economic sources of commonality in liquidity in the U.S. REIT market. Taking advantage of the specific characteristics of REITs, we analyze three types of commonality in liquidity: within-asset commonality, cross-asset commonality (with...

We study the impact of housing conditions on the educational outcomes of young persons in Switzerland. We focus on children ages 15 to 19, who are potentially enrolled in or graduates of high school or vocational training programs, and young adults ages 20 to 24, who are potentially students in...