Previous analyses of the Massachusetts Miracle and the subsequent evolution of employment in the area have centered in part on sectoral explanations. In this paper these explanations are evaluated with the use of a sectoral-based VAR model of the Boston economy, developed to identify local and...

In this study, sources of economic fluctuations in the housing market are investigated using U.S. data. A structural VAR (vector autoregressive) model is set up with a new method of ordering the residuals introduced by swanson and granger (1997) that is based on an analysis of the...

The simultaneous estimation of vintage, age and time of sale effects in hedonic models is generally thought to be impossible without some restriction on functional form. This is not the case. We extend and employ the method of McKenzie (McKenzie, D., 2006. Disentangling age, cohort and time...

We simulate the effects of unseasonable increases in temperature and precipitation on housing starts and completions in each of the four Census regions. Using an overidentified vector autoregression model the dynamics of housing starts and completions are estimated. The persistence of housing...

We examine the causality and influence of residential and non-residential investment with respect to GDP and its components in a multivariate, vector autoregressive context, with some care devoted to the appropriate orthogonalization of the shocks which drive the various components of GDP. We...

We analyze appreciation rates across comparable designated and undesignated neighborhoods in Memphis, Tennessee. Using appreciation rates potentially nullifies the objection to using assessed values in such an analysis while also mitigating some of the bias inherent in the differences between...