We present a simple model of the price process of a capital asset that is subject to serially correlated demand shocks, and whose supply responds with a lag. In this setting the price of the asset can exhibit positive serial correlation over short intervals and negative serial correlation over...

Based on Chinese city-level data from 1999 to 2012 and controlling for geological, environmental, and social diversity, this study suggests that credit plays a significant role in driving up house prices after the Great Recession, whereas property prices only influence bank lending before 2008....

We analyze the prices of owner-occupied housing in 97 metropolitan areas between 1980 and 2011. Our tests indicate that price changes exhibit positive serial correlation at the one year intervals, with subsequent reversals of price changes over longer intervals. Consistent with our simple model,...

Based on Chinese city-level data from 1999 to 2012 and controlling for geological, environmental, and social diversity, this study suggests that credit plays a significant role in driving up house prices after the Great Recession, whereas property prices only influence bank lending before 2008....

We exploit quasi-experimental variation in assignment of rent control to study its impacts on tenants, landlords, and the overall rental market. Leveraging new data tracking individuals' migration, we find rent control increased renters' probabilities of staying at their addresses by nearly 20%....

Pressure of rapid urbanization on abiotic environmental parameters in the residential blocks is one of the major challenges of city corporation authorities in Bangladesh. Environmental degradation often reduces property value in the housing market. However, the studies attempted to assess the...

Using data for 70 U.S. metropolitan areas, this study explores spatial heterogeneity in house price dynamics. We use recent advances in panel econometrics that allow for spatial heterogeneity, cross-sectional dependence, and non-stationary but cointegrated data. We test for spatial differences...