We study the external impact of foreclosures, exploring how foreclosed properties affect the liquidity of nearby homes. Empirically, we find a foreclosure increases a nearby home's time-on-market by approximately 30%, on average, which is primarily driven by a disamenity effect. There is...

This paper examines the white-black house value gap across the entire value distribution. Instead of using standard conditional mean analysis and decomposition methods (via OLS regression), we estimate and decompose the changes in the white-black house value gap from 1997 to 2005 using quantile...

Systemic risk must include the housing market, though economists have not generally focused on it. We begin construction of an agent-based model of the housing market with individual data from Washington, DC. Twenty years of success with agent-based models of mortgage prepayments give us hope...

In this work, we present a gridded dataset about land cover, population density, real estate, and transportation in 192 worldwide urban areas representing together 800 million people. While population density and land cover are secondary data extracted from the GHS-POP and the ESA CCI databases...

Many of the world's major cities have attracted a flurry of out-of-town (OOT) home buyers. Such capital inflows affect house prices, rents, construction, labor income, wealth, and ultimately welfare. We develop an equilibrium model, calibrated to the typical U.S. metropolitan area, to quantify...

I document empirical regularities of flooding in the US with newly-compiled insured, uninsured, historical loss, and flood zone data at the town level for the decade after 2003. I identify instances with low damage and low risk expectations, implied by the high uninsured share, where experience...

To date, analysis of the spatial dimension of New Zealand labour markets has been limited to administrative, rather than appropriately-defined functional, geographic units. This paper presents a preliminary classification of New Zealand into local labour market areas using area unit...

Between 1984 and 1993, New Zealand undertook comprehensive market-oriented economic reforms. In this paper, we use census data to examine how the internal mobility of Māori compares to that of Europeans in New Zealand in the period after these reforms. It is often suggested that Māori are less...

The proportion of New Zealand households living in owner-occupied dwellings has declined steadily since the early 1990s. The unemployment rate declined steadily as well, except for upward shifts due to the late 1990s Asian Financial Crisis and the Global Financial Crisis a decade later. Research...

Minority groups in many countries, particularly indigenous populations, live in very segregated environments. Many social scientists believe that social networks create poverty traps in these types of segregated environments, with a lack of positive role models reinforcing a lack of good job...