nep-geo New Economics Papers
on Economic Geography
Issue of 2006‒06‒24
three papers chosen by
Vassilis Monastiriotis
London School of Economics

  1. Three dimensions of regional integration process in Europe: an approach by spatial econometrics (In French) By Stéphane VIROL (IERSO-IFReDE-GRES)
  2. Class voting, spatial segregation and metropolitan context: Operators in pluralized urban countries By Vilalta y Perdomo, Carlos J.
  3. Ireland’s Housing Boom: What has Driven it and Have Prices Overshot? By David Rae; Paul van den Noord

  1. By: Stéphane VIROL (IERSO-IFReDE-GRES)
    Abstract: Whereas the process of integration economic is accentuated in Europe, regional integration dynamics of space seems to be a crucial issue. Reflexions engaged, in particular through the SDEC, aim at promoting a voluntarist policy of polycentric adjustment of European space. Thus we are led to consider both structuration and regional integration dynamics of this space. An inventive use of the most recent tools of spatial econometrics makes possible to appreciate and to quantify the concerned processes. More particularly, we seek to improve the modelization of the interactions between areas.
    Keywords: Regional Integration of spaces, spatial econometrics, concentration, polycentrism
    JEL: R11 R15 C31 C51
    Date: 2006
  2. By: Vilalta y Perdomo, Carlos J. (Tecnológico de Monterrey, Campus Ciudad de México)
    Keywords: class voting
    Date: 2005–06
  3. By: David Rae; Paul van den Noord
    Abstract: The Irish housing market is very buoyant. The housing boom is driven by strong economic growth, dynamic demographics and low interest rates. However, large tax advantages and relatively lenient credit policies by banks have also played their part, and prices may have become overvalued. To the extent that high house prices reflect favourable tax treatment, they may lead to economic inefficiencies by drawing excessive resources into residential construction. While a soft landing appears the most likely prospect, a disorderly correction of house prices would pose risks for macroeconomic and possibly financial stability. In this context, one policy lever available to the government would be a phased removal of the tax advantages associated with housing. In addition, banks should remain cautious in their lending and provisioning policies. <P>L’envolée du marché irlandais du logement Le marché de l’immobilier est très dynamique en Irlande. L’essor du logement s’explique par la forte croissance économique, la dynamique démographique et la faiblesse des taux d’intérêt. Cependant, les importants avantages fiscaux et les politiques de crédit relativement libérales des banques ont aussi joué leur rôle et les prix sont désormais peut être surévalués. Dans la mesure où les prix élevés de l’immobilier reflètent un régime fiscal favorable, ils peuvent conduire à des inefficiences économiques en attirant des ressources excessives dans la construction résidentielle. Tandis qu’un atterrissage en douceur apparaît très probable, une correction désordonnée de ces prix ferait peser des risques sur la stabilité macroéconomique, voire financière. Dans ce contexte, un des leviers d’action à la disposition des autorités serait une suppression graduée des avantages fiscaux associés au logement. En outre, les banques devraient être incitées à faire preuve de prudence dans leurs politiques de prêt et de provisionnement.
    Keywords: house prices, property tax, housing markets, marché immobilier, residential construction, construction résidentielle, immobilier, taxe foncière
    JEL: E2 R21 R31
    Date: 2006–06–15

This nep-geo issue is ©2006 by Vassilis Monastiriotis. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
General information on the NEP project can be found at For comments please write to the director of NEP, Marco Novarese at <>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.