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markets. The results demonstrate that extra volatility can be caused by shocks in other regions. In particular, we find … structural changes in spatial volatility spillover intensities. Both channels play important roles in risk spreading, but the …
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Over the last decade, German housing prices have increased unprecedentedly. Drawing on quality-adjusted housing price data at the district level, we document large and increasing regional disparities: growth rates were higher in 1) the largest seven cities, 2) districts located in the south, and...
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