We test relative illiquidity, exemplified through a temporary lock-up, as a partial explanation for the gap between theoretical and empirical weights for real estate in a multi-asset portfolio. Since asset correlations are known to increase in bear markets, reducing their diversification...

Restrictions on new constructions and modernisations occur in almost all countries and numerous regulations apply in Germany. This article outlines regulations regarding the protection of historical buildings, restoration law and preservation statutes and describes compensatory subsidies...

It has been argued that the growth of cities is increasingly determined by the presence of amenities. We study the economic effects of large scale subsidised investments in historic amenities, by looking at their impact on house prices. We aim to distinguish between the direct and indirect...

As the first to use an archival data set on historical land values of Berlin, Germany, from 1890 to 1936, we exploit exogenous variation in transport technology in order to test the validity of the monocentric city model. Endogenously determining the CBD, we conduct cross-section and...

This study investigates whether commercial offices designed by signature architects in the United States achieve rental premiums compared to commercial offices designed by non-signature architects. Focusing on buildings designed by winners of the Pritzker Prize and the Gold Medal awarded by the...

We build a novel dataset tracking retail establishments based on billions of card transactions to study the impact of COVID-19 induced work-from-home (WFH) on brick-and-mortar retail locations. We find that retail establishments have paralleled the exodus of populations from large, expensive...

The objective of this article is to explore the emergence of cognitive cities as the next step in urban development and to provide insights to city planners and administrators on how to create a connected and efficient physical environment that serves its citizens. By examining the key features...

This paper examines the determinants of the changes in premiums to NAV in infrastructure REIT (infra-REIT) share prices in Singapore over the 2017-2021 period. Samples of 11 listed Singaporean REITs (S-REITs) are selected to create a balanced panel data for the analysis. Our finding shows that...

We explore how coworking spaces are involved in the entrepreneurial ecosystem of start-ups contingent on the lifecycle stage of the firm and the coworking space market itself. Our study is based on a hand-collected detailed sample of coworking spaces in the seven largest regions in Germany. We...