nep-ure New Economics Papers
on Urban and Real Estate Economics
Issue of 2024–11–04
100 papers chosen by
Steve Ross, University of Connecticut


  1. Price Co-movement Across Local Housing Markets in the United Kingdom By Michael White; Joanne Loh
  2. Home or Away: Exploring the Influence of Housing Challenges on Migrants' Return Intention By Liming Yao; Zou Jing; Wang Baitao
  3. The Effect of Immigration on the German Housing Market By Unal, Umut; Hayo, Bernd; Erol, Isil
  4. From Preschool to College: The Impact of Education Policies over the Lifecycle By Jacob Wright; Angela Zheng
  5. Do Winners Win More from Transport Megaprojects? Evidence from the Great Seto Bridge in Japan By Yoshifumi Konishi; Akari Ono
  6. Spatial Resilience In Healthcare: Examining The Nexus Between Medical Resource Diversity and Real Estate Patterns By Yu-An Yang; Tony ShunTe Yuo
  7. Spatial heterogeneity in vehicle license plate lottery rationing By Zhi-Chun Li Author-Name : Wen-Jing Liu Author-Name : André de Palma
  8. The unequal impacts of monetary policies on regional housing markets By Boge, Kevin Patrick; Rieth, Malte; Kholodilin, Konstantin
  9. A potential of Inclusionary Housing as an affordable housing supply instrument in Poland By Magdalena Zaczna; Agata Antczak-Stepniak; Katarzyna Olbinska
  10. The changing geography of homelessness in Australia (2001–21) and its structural drivers By Batterham, Deb; reynolds, margaret; Cigdem, Melek; Parkinson, Sharon
  11. Does private education pay off? By Andres Rodriguez-Pose; Rosalie Henry de Frahan; ; ;
  12. The Effects of Increasing Enrollment on Student Housing Choices and Welfare By Anna Carroll; Dennis Guignet; O. Ashton Morgan
  13. Homeownership in Shrinking Cities: An Analysis in the Baltic Sea Region By Can Orhan
  14. Autonomous vehicles, parking, and urban spatial structure By Zhi-Chun Li Author-Name : Wen-Jing Liu Author-Name : André de Palma, Author-Name : Yuki Takayama Author-Name : Takao Dantsuji
  15. Green or not: Disentangle the Value Determinants and Externalities of Green Building By Yue Zhang
  16. ISToken: The Digital Revolution of Fractional Ownership & Real Estate Tokenization Model in Turkey By Göksu; Sabuncuolu; Kerem Yavuz Arslanli
  17. Spatial mobility and overeducation of young workers: New evidence from France By Florian Fouquet; Florent Sari
  18. Performance Evaluation of Social and Ecological Environmental Diversity Characteristics on the Real Estate Market: A Dynamic Network Data Envelopment Analysis By Tony ShunTe Yuo; Tai-Hsi Wu; Yu-An Yang
  19. The economic value of sustainability: energy performance and housing market By Ezio Micelli; Giulia Giliberto; Eleonora Righetto; Greta Tafuri
  20. Flooding Away the Economic Gains from Transport Infrastructure: Evidence from Colonial Jamaica By Joel Huesler; Eric Strobl
  21. Lifelong learning in real estate education: the case of the Master City Developer curriculum renewal By Erwin Heurkens
  22. Building Up Local Productivity: Infrastructure and Firm Dynamics in Mexico By Busso, Matías; Fentanes, Oscar
  23. Motivations Behind Sharing in housing: A Self-Determination Theory By Fabian Lachenmayer; Martin Christian Höcker; Andreas Pfnür
  24. Refugee Migration and Business Registrations By Hessami, Zohal; Schirner, Sebastian; Wobbe, Clara
  25. Public-private actors’ networks in healthy urban development and investment decision-making By Nalumino Akakandelwa; Kathy Pain
  26. Immigrants’ Social Identity, Racial Hate Crimes and Public Backlash: Evidence from The "San Gennaro Massacre" By Maria Rosaria Carillo; Tiziana Venittelli; Alberto Zazzaro
  27. Smart City Fostering Innovation: evidence from China's Listed Enterprises By Masaki Mori; Hua Fan; Chen Zheng
  28. The Importance of EU Cohesion Policy for Economic Growth and Convergence By Maximilian von Ehrlich
  29. Robotization, Internal Migration and Rural Decline By Bekhtiar, Karim
  30. Occupiers' ESG in commercial real estate By Nan Liu; Norman Hutchison; Yuanyuan Zhao; Bowen Yan
  31. The Impact of Public Transport Subsidies on Highway Traffic: Evidence from Germany By Klotz, Phil-Adrian; Daniel, Theresa; Gail, Maximilian Maurice
  32. Paying Off Populism: How Regional Policies Affect Voting Behavior By Gold, Robert; Lehr, Jakob
  33. Workplace Peer Effects in Turnout By Carlsson, Magnus; Finseraas, Henning
  34. More Tax, Less Refi? The Mortgage Interest Deduction and Monetary Policy Pass-Through By Tess C. Scharlemann; Eileen van Straelen
  35. Opportunities to use NCA (Necessary Condition Analysis) to analyse prices in the housing market By Radosaw Cellmer; Andrzej Muczynski
  36. The impact of international diversification on U.S. Equity REIT performance By Daniel Huerta; Chris Mothorpe
  37. Air Travelers’ Ground Transportation Choices at Four Airports in Northern California By Makino, Keita; Compostella, Junia; Lee, Yongsung; Circella, Giovanni
  38. Behavioural Adaptation to Seismic Disruptions: Exploratory Evidence from Real Estate Investment Trusts By Muhammed Bolomope; Abdul-Rasheed Amidu; Olga Filippova; Deborah Levy
  39. The incidence of maths anxiety in real estate education and the impact of MAGMA as a pedagogical strategy. By Louise Brown; Alan Brown
  40. Here Today, Gone Tomorrow? Toward an Understanding of Fade-out in Early Childhood Education Programs By John A. List; Haruka Uchida
  41. Institutional View of Public-Private Value Co-Creation in Real Estate Development Projects By Aleksi Luoma
  42. Shortcomings of condominium: special case of Ukraine and general inference about prospective property model By Andrii Shcherbyna; Vsevolod Nikolaiev
  43. A Data-Driven Approach to Real Estate Price Estimation: The Case Study Slovakia By Julius Golej; Andrej Adamušin; Miroslav Panik
  44. Environmental, Social, and Governance in Real Estate from 1994 to 2023: Systematic literature review and bibliometric analysis By Hannan Vilchis Zubizarreta; Samuel Azasu; Elena Lacilla
  45. Price Impact of Climate Risk on Commercial Real Estate By Abdullah Yavas; Lu Fang; Lingxiao Li; David Scofield
  46. Understanding the Heterogeneity of Intergenerational Mobility across Neighborhoods By Neil A. Cholli; Steven N. Durlauf; Rasmus Landersø; Salvador Navarro
  47. Teachers’ Retirement Age Act: Tenure and Teacher Quality in Nigeria By Taiwo, Kayode
  48. Job Search, Entrepreneurship and Labour Market Outcomes of Natives and Immigrants in Germany By Zaharieva, Anna; Iftikhar, Zainab
  49. Credit and Inventories in Illiquid Housing Markets By Antonia Díaz
  50. Intergroup Contact and Exposure to Information about Immigrants: Experimental Evidence By Dylong, Patrick; Übelmesser, Silke
  51. Managing Migration: Female Mayors and the Intake of Asylum Seekers By Schirner, Sebastian
  52. Geodemographic Segmentation for Site Selection: A Bayesian Approach in Commercial Real Estate By Gözde Karahan; Kerem Yavuz Arslanli
  53. Satellite-Based Census of Residential Buildings: Application for Climate Risk Assessment By Andinet Woldemichael; Iyke Maduako
  54. Enhancing the Validation of Automated Valuation Models (AVMs) through Wisdom of the Crowd By David Koch; Simon Thaler
  55. Estimating Peer Effects among College Students: Evidence from a Field Experiment of One-to-One Pairings in STEM By Robert W. Fairlie; Daniel M. Oliver; Glenn Millhauser; Randa Roland
  56. Overcoming left-behindedness. Moving beyond the efficiency versus equity debate in territorial development By Andres Rodriguez-Pose; Federico Bartalucci; Nancy Lozano-Gracia; Maria Davalos;
  57. Functional specialization and upgrading in European regions:new insights from FDI data By Andrea Coveri; Elena Paglialunga; Antoenllo Zanfei
  58. Evaluating Transportation Equity Data Dashboards By McGinnis, Claire; Barajas, Jesus M. PhD
  59. Political trust and economic development in European regions By Jonathan Muringani; Rune Dahl Fitjar; Andres Rodriguez-Pose; ;
  60. Dynamics of REIT Returns and Volatility: Analyzing Time-Varying Drivers Using an Explainable Machine Learning Approach By Hendrik Jenett; Maximilian Nagl; Cathrine Nagl; McKay Price; Wolfgang Schäfers
  61. Local labour concentration moderates the disemployment effects of minimum wages in China By Martins, Pedro S.; Dai, Li; Duan, Wenjing
  62. On the Geographic Implications of Carbon Taxes By Bruno Conte; Klaus Desmet; Esteban Rossi-Hansberg
  63. Joint multi-task modeling of multiple attributes for the enrichment of real estate data By Miroslav Despotovic; Stumpe Eric; Matthias Zeppelzauer; Roberto Labadie-Tamayo
  64. ESG factors from the perspective of real estate funds in Poland By Jolanta Panas; Gabriel Gówka; Anna Grygiel-Tomaszewska
  65. Digging for Trouble? Uncovering the Link Between Mining Booms and Crime By Rodríguez-Puello, Gabriel
  66. The home buying and selling process in England: Will Mandating Material Information Upfront Reduce Transaction Times and Failure Rates? By Helen Price; Danielle Sanderson; Peter McLennan
  67. Rural and Urban price inflation components in Nigeria: Persistence, Connectedness and Spillovers By Yaya, OlaOluwa S.; Olayinka, Hammed Abiola; Adebiyi, Aliu A; Atoi, Ngozi Victor; Olugu, Mercy U.; Akinkunmi, Wasiu B.
  68. The Effects of the Indian Mid-Day Meal Scheme on Cognitive and Health Outcomes of Children in Andhra Pradesh By Danilo Cavapozzi; Enrico Fornasiero; Teresa Randazzo
  69. Economic Geography and Complexity Theory By Koen Frenken; Frank Neffke; ; ;
  70. The Role of Public Space: Libraries and Racial Inequality in Education By Hanzl, Lisa
  71. Multipliers from a major public sector relocation: The BBC moves to Salford By Max Nathan; Henry G. Overman; Capucine Riom; Maria Sanchez-Vidal
  72. Disparity in School Children's Reading Skills in 11 African Countries By Huafeng, Zhang; Holden, Stein T.
  73. The Spatial Political Economy of Discontent By Jakob Vanschoonbeek
  74. The effects of armed conflicts on local economic dynamics in the Mopti and Ségou regions of Mali By Mahamadou Bassirou Tangara
  75. Study on the Implementation of Open Junior High School (SMPT) in DKI Jakarta By Hastuti; Dyan Widyaningsih; Gema Satria Mayang Sedyadi; Romi Bhakti Hartanto
  76. Is Distance from Innovation a Barrier to the Adoption of Artificial Intelligence? By Jennifer Hunt; Iain M. Cockburn; James Bessen
  77. Droughts, Migration and Population in Kenya By Mélanie Gittard
  78. Fiscal Risk Sharing in China: Is It Significant and How to Further Improve It? By Mr. Fei Han; Grace Li Bin; Chenqi Zhou
  79. Online Appendix to "Migration Spillovers Within Families: Evidence from Thailand" By Travis Baseler
  80. How large are the costs of local pollution emitted by freight vehicles? Insights from the COVID-19 lockdown in Paris By Lucie Letrouit; Martin Koning
  81. The effect of information framing on policy support: Experimental evidence from urban policies By Arlinghaus, Johanna Brigitte; Konc, Théo; Mattauch, Linus; Sommer, Stephan
  82. Demand Modeling for Low Carbon Investments of the Real Estate Sector in Post-Disaster Settlements By Kerem Yavuz Arslanli; Ayse Buket Onem; Cemre Ozipek; Maide Donmez; Belinay Hira Guney; Maral Tascilar
  83. Is sustainable development enough for our cities? By Anna Wojewnik-Filipkowska
  84. Incentives and Peer Effects in the Workplace: On the Impact of Envy and Wage Transparency on Organizational Design By Kragl, Jenny; Bental, Benjamin; Safaynikoo, Peymaneh
  85. Patience and Subnational Differences in Human Capital: Regional Analysis with Facebook Interests By Hanushek, Eric A.; Kinne, Lavinia; Sancassani, Pietro; Wößmann, Ludger
  86. Evolution of Industrial Policy in Chile: Analysis of the Period 1990-2022 By Barra Novoa, Rodrigo
  87. Income-based or Place-based? Carbon Dividends under Spatial Distribution of Automobile Demand By Yoshifumi Konishi; Sho Kuroda; Shunsuke Managi
  88. Agglomeration in purely neoclassical and symmetric economies By Berliant, Marcus; Watanabe, Axel
  89. Mobility, Energy, and Emissions Impacts of SAEVs to Disadvantaged Communities in California By Li, Xinwei; Jenn, Alan
  90. Speeding Towards Cleaner Air: An Evaluation of Maximum Speed Restrictions in Île-de-France during High Pollution Days By Romuald Le Frioux Author-Name : André de Palma Author-Name : Nadège Blond
  91. A contextual database at the district level using French census and other administrative data By Giulia Ferrari; Rosa Weber
  92. Technological diversification through global value chains in European regions By Eduardo Hernandez-Rodriguez; ; ; ;
  93. The relationship between workplace design, hybrid working choices and cohesion, identification and productivity By Jorrit Van Beurden; Rianne Appel-Meulenbroek; Lisanne Bergefurt; Pascale Le Blanc; Mathilda du Preez
  94. Economic Impacts of the 2023 Earthquake in Morocco By Eduardo Amaral Haddad; Karim El Aynaoui; Abdelaaziz Ait Ali; Mahmoud Arbouch; Hamza Saoudi
  95. The Value of Commuting Time, Flexibility, and Job Security: Evidence From Current and Recent Jobseekers in Flanders By Bert Van Landeghem; Thomas Dohmen; Arne Risa Hole; Annemarie Künn-Nelen
  96. How the West was Settled. The Location Choice of East German Companies Migrating to West Germany after World War II By Donges, Alexander; Streb, Jochen
  97. Influence of Local and Global Economic Policy Uncertainty on the volatility of US state-level equity returns: Evidence from a GARCH-MIDAS approach with Shrinkage and Cluster Analysis By V. Candila; O. Cepni; G. M. Gallo; R. Gupta
  98. Regional government institutions and the capacity for women to reconcile career and motherhood By Costanza Giannantoni; Andres Rodriguez-Pose; ; ;
  99. Social Identity in Network Formation By Ying Chen; Tom Lane; Stuart McDonald
  100. Old and Connected versus Young and Creative: Networks and the Diffusion of New Scientific Ideas By Wei Cheng; Bruce A. Weinberg

  1. By: Michael White; Joanne Loh
    Abstract: A significant body of research has examined regional house prices in the UK, testing for example for long run relationships (MacDonald and Taylor, 1993; Muellbauer and Murphy, 1994; Cook, 1995; Meen and Andrew, 1998), convergence (Drake, 1995; Cook, 2012; Abbott and De Vita, 2013), diffusion and volatility (Stevenson, 2004; Ferrari and Rae, 2011), as well as policy effects (Hilber and Vermeulen, 2016; Choudhry, 2020). In this research we focus on house price co-movement given the significant changes in house prices in the UK and examine the degree of synchronicity, spillovers, and volatility in price movements. Furthermore, we examine these co-movements at local authority (or municipality) level. The analysis draws upon a rich dataset provided by ONS HPSSAs, which offers detailed and granular information on house prices across small geographic areas. We apply dynamic conditional correlation generalised autoregressive conditional heteroscedasticity (DCC-GARCH) models across urban areas over contiguous local authorities. This method has been adopted by DeFusco et al (2013) for US metro area housing markets, by Zimmer (2014) for four US cities, as well as Miles (2016) for UK regions. Our disaggregated data set is quarterly covering the period 1995q4 to 2023q1 allowing analysis of years of, sometimes, rapid, house price appreciation as well as periods of price depreciation and whether these different economic circumstances change the relationship between house prices in and between different local authority areas.
    Keywords: Contagion; DCC-GARCH; Local housing markets; Price Diffusion
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-084
  2. By: Liming Yao; Zou Jing; Wang Baitao
    Abstract: The discussion on the return intentions of migrants and its influencing factors has been widely discussed. Existing research indicates that factors such as economic status, household registration status, identity recognition, and urban integration can largely influence the willingness of rural migrants to return home. Additionally, with the development of the digital economy, engaging in entrepreneurship has also to some extent encouraged rural migrants to go back home. Considering the rapid increase in housing prices in China over the past decade, issues related to housing affordability have undoubtedly become factors prompting rural migrants’ return intention. Considering rural migrants are more disadvantaged in receiving housing assistance in residing cities, housing difficulties, especially housing affordability issues are therefore further accelerating their willingness to return home. However, many existing studies on housing affordability focus on the nation as a whole, with little attention on disadvantaged groups such as rural migrants. Therefore, this paper integrates the issues of housing difficulties with the return intentions of rural migrants, exploring how housing difficulties have impacted their willingness to return home using China Migrants Dynamic Survey (CMDS) 2017 data. Two variables were constructed to measure housing difficulties: subjective and objective housing difficulties. Subjective housing difficulties were determined through survey questions asking whether migrants experience housing difficulties. Housing affordability ratio is adopted to evaluate the subjective housing difficulties encountered by migrants. We used the macro house prices data on the residing cities and the micro household income included in the survey to calculate the house price to income ratio. Based on the international threshold, the housing price-to-income ratio higher than 3 is considered to have objective housing difficulties. We investigated the impact of subjective and objective housing difficulties on rural migrants’ return intention. Using a probit and IV Probit model, our research evidenced a negative relationship between subjective housing difficulties and return intention. Self-reporting housing difficulties didn’t really increase the likelihood of returning home, because this variable was often influenced by individual risk preferences. While it is evidenced that objective housing difficulties have positive impact on return intention. Specifically, the higher the house price to income ratio, the higher likelihood of returning home. Heterogeneity analysis shows that the relationship between objective and subjective housing difficulties and the return intention of migrants varies across different levels of economic development in residing cities, educational achievement, and age group.
    Keywords: Housing Affordability; IV probit; Return intention; Rural migrants
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-118
  3. By: Unal, Umut; Hayo, Bernd; Erol, Isil
    JEL: J61 R23 R31
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc24:302431
  4. By: Jacob Wright; Angela Zheng
    Abstract: Across all education levels, policymakers are using the re-sorting of students to diversify the socioeconomic composition of student bodies. We study how these integration policies interact, using a heterogeneous agent overlapping generations model featuring multiple periods of human capital development. Households sort into public schools through housing location, and into college via a competitive admissions process. Quality of schools and colleges are endogenous through peer effects. At the public school level, we simulate an integration policy that randomly shifts students across schools. For college, we consider an income-based affirmative action policy. Public school integration weakens the link between residential location and school quality, increasing intergenerational mobility by 2.5%. On the other hand, the college policy decreases intergenerational mobility by 0.7%: when the high-quality college reserves seats for low-income students, it makes college more competitive, which increases sorting at the public school level. In fact, an integration policy that combines public school re-sorting and college affirmative action leads to minimal changes in upwards mobility.
    Keywords: intergenerational mobility; sorting; human capital
    JEL: I2 R23
    Date: 2024–09
    URL: https://d.repec.org/n?u=RePEc:mcm:deptwp:2024-07
  5. By: Yoshifumi Konishi (Department of Economics, Keio University); Akari Ono (Graduate School of Economics, Keio University)
    Abstract: Economists are increasingly concerned with the heterogeneous impacts of transportation infrastructure investments on economic outcomes, particularly the phenomenon known as the “Straw Effect†: Core cities that were already in economic prosperity may gain more, and peripheral cities may lose, from transportation megaprojects. We empirically investigate whether such an effect manifests in the case of the Great Seto Bridges in Japan, a 70-billion-dollar project implemented in the 1980s-1990s as part of the “Building-a-New-Japan†initiative. We employ the recentered instrumental variable approach in the difference-in-differences design, exploiting the sharp decline in transport costs and its unexpected impacts on market access across cities as the exogenous sources of variation. Contrary to the Straw Effect, we find that large peripheral cities gain more than core cities from the megaproject, demonstrating that the distribution of winners and losers from the megaproject depends on how the transport cost reductions pass through in the existing network structures.
    Keywords: Market Access, Transportation Investment, Core-Periphery Model, Economic Geography, Quantitative Spatial Model, Treatment Effect under Spatial Network
    JEL: O18 R4 R11 R12
    Date: 2024–08–11
    URL: https://d.repec.org/n?u=RePEc:keo:dpaper:2024-018
  6. By: Yu-An Yang; Tony ShunTe Yuo
    Abstract: Resilience, defined as the ability of a system or community to rapidly adapt, recover, and maintain functionality in the face of stress, disasters, or changes, holds paramount significance in the healthcare domain. This study explores the application of resilience concepts to fortify the healthcare system's capacity to address diverse challenges and crises. The research focuses on the intricate interplay among medical resource diversity, population distribution, and real estate dynamics, delving into the spatial patterns of healthcare configurations.Medical resource diversity, encompassing various healthcare institutions and specialties, plays a crucial role in meeting diverse healthcare needs. Often considered an indicator of urban development, medical resources are reflected in the capitalization of real estate. Employing an integrative methodology involving multi-stage spatial data mining and a two-stage floating catchment area approach, this research evaluates the current spatial proximity of overall medical resources in vertical healthcare supply and medical specialties. The study, based on distinct population structures, assesses developmental disparities and current distributions of medical resources across regions, ensuring rational resource allocation.To provide a comprehensive understanding, the study emphasizes the impact of healthcare configurations on real estate dynamics. It employs multi-scale geographically weighted regression analysis to examine how medical resource diversity, spatial distribution, and proximity influence real estate prices in nearby communities. The discussion underscores the intricate relationships between healthcare configurations and real estate dynamics, providing valuable insights for optimizing resource allocation, enhancing community well-being, and understanding the broader capitalization implications.This research is funded by the Ministry of Science and Technology 111-2410-H-305 -055 -MY2
    Keywords: Hierarchical healthcare facilities; Medical Resource Accessibility; Population Structure; Real Estate Market
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-075
  7. By: Zhi-Chun Li Author-Name : Wen-Jing Liu Author-Name : André de Palma (CY Cergy Paris Université, THEMA)
    Abstract: This paper studies vehicle license plate lottery rationing problem with spatial heterogeneity by using a two-area modeling framework. The equilibria of residential location and vehicle ownership choices of heterogeneous households with different values of time (VOTs) are first analyzed. A social welfare maximization model is then proposed for determining the optimal number of vehicle quotas and the optimal quota proportion allocated to central and suburban areas of the city. Two alternative lottery schemes, a city-based and an area-based scheme, are explored and compared. The results show significant spatial disparities in the behavior of central and suburban residents in the license plate lottery. When the transit service level in the suburban area is relatively low, the critical VOT for participating in the lottery for suburban residents is lower than that for central residents. The area-based lottery scheme welfare-dominates the city-based lottery scheme. Compared to laissez faire, the implementation of lottery rationing schemes may cause urban sprawl or shrink, depending on the scheme adopted (area-based or city-based) and the road service level.
    Keywords: License plate rationing; lottery; city-based vs. area-based; urban spatial structure; spatial heterogeneity; heterogeneous households
    JEL: R13 R14 R38 R41
    URL: https://d.repec.org/n?u=RePEc:ema:worpap:2024-11
  8. By: Boge, Kevin Patrick; Rieth, Malte; Kholodilin, Konstantin
    JEL: E52 R12 R31
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc24:302370
  9. By: Magdalena Zaczna; Agata Antczak-Stepniak; Katarzyna Olbinska
    Abstract: Developers have become the leading housing providers in Poland; in recent years, their share in the primary housing market has increased from 34% in 2015 to 60% in 2022. Demand is high and is mainly of an investment nature. At the same time, many households, especially in large cities, cannot meet their housing needs independently and expect support from local authorities (in 2022, there were almost 143, 000 households). Municipalities cannot fulfill their obligations, their resources are shrinking due to privatization and technical wear and tear, and they do not build new resources independently (in 2022, they only made 600 apartments). Cooperation with social rental housing actors also results in a small pool of apartments. The authors investigated whether an inclusionary housing solution would be accepted and implemented in Polish conditions. The IH model's implementation consists of planning policy tools due to the importance of planning for the location design and number of new housing units, the size of affordable housing supply, and the applicability of the Value Capturing mechanism (de Kam, Needham & Buitelaar 2014). The IH allows for separating affordable flats in commercial housing projects and allocating them to households meeting specific criteria. The research conducted by the authors was multidimensional and used various methods; the first stage was in 2020, and the revision of results was prepared in 2024. The authors used the desk study to identify different IH models and their effects in practice. Then, to determine the potential of using IH in Poland, the authors identified and analyzed national legal bases enabling the implementation of solutions similar to IH in practice, and they examined the degree of their use. This concerned solutions to the acts commonly called "premises for land, " starter apartments, and Lex developer. The next stage of the research was qualitative, and it aimed to indicate the degree of interest in IH on the part of local authorities in Polish cities and developers. The methods used allowed the authors to make conclusions.
    Keywords: Developer; Inclusionary housing; Local government; Poland
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-058
  10. By: Batterham, Deb; reynolds, margaret; Cigdem, Melek; Parkinson, Sharon
    Abstract: Homelessness has grown in the suburbs of Australian capital cities, with more than 60 per cent of those experiencing homelessness at the 2021 Census found in Australia’s capital cities (up from around 48% in 2001). Homelessness has increased especially in areas with greater shortages of affordable private rental housing (relative to demand from low income households). The research, ‘The changing geography of homelessness in Australia (2001–21) and its structural drivers’, undertaken for AHURI by researchers from Swinburne University of Technology, Launch Housing and RMIT University, investigates the changing geography of homelessness in Australia from 2001 to 2021 and the role of structural factors, such as poverty and supplies of affordable rental housing, in shaping this geography. Homelessness was also higher in areas with smaller supplies of social housing relative to demand. The research suggests that an increase in social housing will further significantly reduce homelessness. In areas with a greater shortage of affordable rental dwellings, a higher percentage of Specialist Homelessness Service clients are returning for support after having been assisted. As the majority of people experiencing homelessness tend to remain in the same area, localised responses to homelessness are really important. Homelessness services and affordable housing options need to be expanded in areas where they are needed, and not just where existing services are located. In order to provide housing to clients who accessed a Specialist Homelessness Service in 2021–22, the research estimated that around 158, 000 one- to two-bedroom dwellings and 25, 000 three-or-more-bedroom dwellings are needed nationally. These dwellings must be affordable and available to households with the lowest incomes.
    Date: 2024–10–09
    URL: https://d.repec.org/n?u=RePEc:osf:socarx:6gsx7
  11. By: Andres Rodriguez-Pose; Rosalie Henry de Frahan; ; ;
    Abstract: Education plays a crucial role in fostering innovation, entrepreneurship, and equal opportunities in society, acting as a “social elevator.†However, an inequitable educational system can perpetuate inequalities, leading to significant social consequences. This paper examines two mechanisms through which schooling systems may generate or reinforce inequalities: private schooling and school composition. Earlier studies oCen suggested that private schooling, particularly government-dependent private schools, had a positive impact on student achievement. However, more recent research has challenged this view, highlighting the importance of contextual factors such as school composition and socio-economic background. Building on these findings, our analysis explores how the advantages attributed to private schools are shaped by the demographic profiles of their students. Using data from the OECD Program for International Student Assessment (PISA) 2015 and employing an education production function, we assess the effects of private schooling and school composition on student performance. Our findings contribute to the growing body of research questioning the comparative advantage of private schools, demonstrating that their perceived superiority often arises from the socio-economic advantages of the students they enroll, rather than the quality of education provided. The study also reveals significant variations across countries, underscoring the urgent need to address the segregation issues linked to private school networks.
    Keywords: Education, Private schooling, School composition effect, Segregation, Inequalities
    JEL: I21 I24 I28 J24 H52
    Date: 2024–10
    URL: https://d.repec.org/n?u=RePEc:egu:wpaper:2433
  12. By: Anna Carroll; Dennis Guignet; O. Ashton Morgan
    Abstract: : Many universities strive to increase enrollment but this can put a strain on local housing markets, for both students and local residents. This study implements a stated preference discrete choice experiment to investigate how students trade off different housing features in the face of increasing rent due to higher demand, and ultimately estimates the resulting welfare effects on students. Random utility models are estimated, and suggest that when faced with increasing rent, most students prefer to move to cheaper housing that is farther away from campus, while some will decide to leave the university altogether. Results indicate, for example, that rent increases of $100 per month will lead to a 7.8 percentage point increase in students who move to an apartment that is farther from campus, and result in a 0.6-1.3 percentage point increase in students who would leave the university. By shedding light on the housing decisions of students, this study helps inform local governments and university officials trying to establish affordable housing options and sustainable student population growth. Key Words: : discrete choice experiment, housing choice, student housing, student welfare
    JEL: O18 R21 R31
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:apl:wpaper:24-21
  13. By: Can Orhan
    Abstract: Trends of demographic change, outmigration and deindustrialisation create challenges associated with population and/or industrial decline affecting not only rural areas but also cities. Among their counterparts in the world, shrinking cities in the Baltic Sea Region are some of the most dramatically affected and transformed ones regarding the shifts in volume and density in their physical and social entities. At the same time, shrinkage is interlinked with economic, social, and institutional aspects in the Baltic Sea Region and, is associated with a complex process joining trends of population decline, alterations in the volume of economic activities over time and, shifts in the quantity and quality of material stocks. According to the existing literature (Bernt et al., 2017; Couch & Cocks, 2013; Gao et al., 2023), housing, as a component of the material stock, is a particular challenge and contains some spatial anomalies in the context of shrinkage in the Baltic Sea Region cities. Indeed, housing, with its different physical, economic and social forms, is not only a problem in the shrinking process but may also represent an opportunity for different groups. Abandoned and vacant housing stock transforms city landscapes while economic and population decline may reduce housing values.These trends may shape the function and accessibility of housing as a financial tool but also create an unstable environment in tenure structures. This complexity creates ambiguity in the value of housing in the context of shrinkage, where it may be perceived either as an affordable or a worthless investment. This ambiguity may hold consequences for ownership structure in shrinking cities and specifically for the role of owner-occupation, as the dominant tenure pattern in the region (Kohl, 2017). Hence, this research aims to investigate the relationship between urban shrinkage and homeownership structures in the Baltic Sea Region. Different spatial and institutional formations produce different dynamics. Therefore, this research considers shrinkage as a multidimensional process and aims to disentangle the economic and demographic perspectives of shrinkage. By doing so, it aims to quantify the extent of economic and demographic decline through the lens of the Baltic Sea Region cities and to investigate the consequences for owner-occupied housing patterns. Furthermore, the countries in the Baltic Sea Region are institutionally composed of different tenure and shrinking patterns.This research, thus, expects to reveal distinct tenure responses to the shrinkage process among the case areas. Using data from the European Population and Housing Census for the years, a regression-based analysis of the role of socio-economic and demographic factors in the form of the urban shrinkage process is carried out to explain the relationship between shrinkage and the owner-occupied housing sector, as well as distinguish the changes of owner-occupied housing in shrinking urban and rural areas.
    Keywords: Baltic Sea Region; owner-occupation; shrinkage
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-020
  14. By: Zhi-Chun Li Author-Name : Wen-Jing Liu Author-Name : André de Palma, Author-Name : Yuki Takayama Author-Name : Takao Dantsuji (CY Cergy Paris Université, THEMA)
    Abstract: This paper provides a theoretical analysis of the effects of autonomous vehicles (AVs) on the spatial structures of future cities. We consider two types of AVs, private AVs (PAVs) and shared AVs (SAVs). We assume that AVs have a lower marginal travel cost than human-driven traditional vehicles (TVs) due to additional utility caused by free activities in AVs, and PAVs have a lower marginal travel cost than SAVs due to better privacy and comfort. The land that SAVs release due to exemption of parking land is used for firm production and household residential uses. We also assume that the type of housing is regulated and designed by the government, and households rent houses from the government. Two urban spatial models, one for TVs and the other for PAVs / SAVs, accounting for the competition for land among firm production, household residence, and parking, are presented and compared. The government aims to determine the optimal housing sizes to maximize the social welfare of the city system. The finding shows that after introducing AVs, the city size may expand or shrink, depending on the marginal travel costs of AVs and the SAV market share in the AV market. The firm production rises for a full SAV city. Household utility and social welfare may increase or decrease, depending on the maturity level of AV technologies.
    Keywords: Private autonomous vehicles; shared autonomous vehicles; parking; urban spatial model; fixed cost; marginal travel cost
    JEL: R13 R14 R48 R52
    URL: https://d.repec.org/n?u=RePEc:ema:worpap:2024-09
  15. By: Yue Zhang
    Abstract: The global call for reducing greenhouse gas emissions has highlighted the importance of sustainable transitions in buildings as an effective means to optimize energy, waste, and other resources utilization. However, balancing environmental impact and green retrofit costs still need to be justified carefully. Though various studies have identified price and rental premiums for green buildings (GB), there is a lack of research delving into the dynamics behind the supply of green buildings. This research aims to investigate the underlying mechanisms and peer effects on green building supply. Thus, the research questions are as follows: (1) What value determinants contribute to green building premia? (2) How does the entry of a green building affect the possibility of nearby buildings turning into green?By using a sample of 59079 office property transactions spanning the period of 2013 to 2022 in Hong Kong, we found that certified office properties command a rental premium of approximately 9.8% compared to non-certified properties. The sample consisted of transactions involving green buildings certified by HKBEAM, BEAM-Plus, and LEED, which accounted for 15% of the total sample.To understand the mechanisms and externalities of GB, we constructed a hedonic model-based rental index. We compared the responsiveness and volatility between GB and non-GB. The provisional results showed that the rental level of certified office properties is more responsive and volatile than non-certified properties and varies across different areas. In the next phase, we plan to use local Moran’s I and Getis-Ord Gi* statistic, which measure the local spatial autocorrelation and hot spots of green buildings. Then by employing Google’s geocoding and distance matrix APIs, we will define neighborhoods flexibly, e.g. we can classify buildings located within k-meter walking distance from a green building as peers. A difference-in-difference method will be used to detect the externalities, where a dummy variable was introduced measuring whether there is an entry of newly certified green buildings into an area within 100 meters of property i over a one-year window before time t (100 meters and 1 year here are arbitrary and subject to robustness checks). Confirming a positive coefficient for this variable would support the hypothesis of urban externalities.This study aims to enhance our understanding of the market mechanism of commercial property and the decision-making of stakeholders. It provides empirical evidence regarding green commercial real estate while offering valuable insights for investors and tenants who are concerned about climate change and energy uncertainty."
    Keywords: commercial real estate; Green Building; sustainability; Urban externalities
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-039
  16. By: Göksu; Sabuncuolu; Kerem Yavuz Arslanli
    Abstract: Real estate access has become increasingly challenging due to high property costs and financial difficulties in Turkey especially major cities like Istanbul.These limitations have restricted the opportunity for individual and small-scale investors to participate in large real estate projects. However, solutions such as fractional ownership concepts and real estate investment funds have emerged to overcome these challenges and democratise real estate investments.Fractional ownership divides large properties into smaller shares, offering investors the advantage of acquiring these properties at a lower cost. This model enables individuals and small-scale investors to own real estate assets with smaller amounts of capital. Another effective method that has gained prominence alongside these solutions is real estate tokenization.Real estate tokenization involves converting properties into digital assets, allowing investors to become property owners with more minor, fragmented shares. This facilitates participation in real estate projects with smaller amounts of capital, and investors can hold property ownership through digital tokens. Tokenization manages these transactions transparently and reliably, providing a faster and more cost-effective investment process.To democratise real estate access in Turkey, various financial tools, combined with solutions brought by the digital revolution, offer investors a broader and more effective range of investment opportunities. As a result, the real estate sector becomes more accessible and diversified, leading to healthier growth for individual investors and the industry.In this research, existing fractional ownership practices in Turkey are examined, and solutions for the challenges of regulating tokenisation are proposed by referencing various applications of real estate investment funds. A new model of real estate tokenisation, named 'ISToken' (Istanbul Token), is introduced, offering technological, legal, and financial solutions to make the real estate sector more accessible and liquid.
    Keywords: DLT; Smart Contract; STO; tokenization
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-019
  17. By: Florian Fouquet (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - Nantes Univ - IAE Nantes - Nantes Université - Institut d'Administration des Entreprises - Nantes - Nantes Université - pôle Sociétés - Nantes Univ - Nantes Université, GAINS - Groupe d'Analyse des Itinéraires et des Niveaux Salariaux - UM - Le Mans Université); Florent Sari (ERUDITE - Equipe de Recherche sur l’Utilisation des Données Individuelles en lien avec la Théorie Economique - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12 - Université Gustave Eiffel)
    Abstract: This paper explores the influence of spatial mobility on the risk of overeducation of French young workers. Mobilizing a survey following a cohort of young graduates entering the labour market from 2010 until 2013, our results reveal that interregional migration decreases the risk of (statistical and subjective) overeducation. We also evidence that migration to an economic centre (the Paris region) has an even stronger negative effect and that more educated workers benefit more from spatial mobility. These results are robust to controlling for self‐selection and the endogeneity of migration, as well as to various specifications of the model.
    Keywords: Overeducation, Educational mismatches, Spatial mobility, Migration, Employment
    Date: 2023
    URL: https://d.repec.org/n?u=RePEc:hal:journl:hal-04086383
  18. By: Tony ShunTe Yuo; Tai-Hsi Wu; Yu-An Yang
    Abstract: The analytical model of the social-ecological system structure is designed to explore spatial environmental performance from a holistic, complex, dynamic, network-oriented, and nonlinear perspective. In this research, we employ the Social-Ecological System (SES) framework proposed by Ostrom (2009) and McGinnis and Ostrom (2014) to construct a model capturing the characteristics of Taiwan's real estate market in relation to social and ecological spatial diversity. Utilizing Dynamic Network Data Envelopment Analysis (DNDEA), we conduct performance measurements for the SES model. This framework encompasses various real estate market features, including resource systems, ecological and environmental indicators, government governance, and characteristics of real estate market sectors. The study observes dynamic interactions over multiple years. By incorporating assessments of indicators such as social, industrial, energy, ecological, pollution, and healthcare, central and local governments can optimize relevant policies based on comprehensive social and ecological characteristics in addressing the real estate market.This research is funded by the Ministry of Science and Technology: 111-2410-H-305 -055 -MY2McGinnis, M. D., & Ostrom, E. (2014). Social-ecological system framework: initial changes and continuing challenges. Ecology and Society, 19(2).Ostrom, E. (2009). A general framework for analyzing sustainability of social-ecological systems. Science, 325(5939), 419-422.
    Keywords: ESG in Real Estate; Human and Environment coupled; Social-Ecological System; Sustainable Development
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-074
  19. By: Ezio Micelli; Giulia Giliberto; Eleonora Righetto; Greta Tafuri
    Abstract: The international commitment to the energy transition of the housing stock is essential to meet the global challenges of decarbonisation and reduce CO2 emissions. The building sector is responsible for 40% of fossil fuel consumption and 30% of CO2 emissions, making energy performance upgrades urgent. Recent research highlights the impact of energy performance on property value, revealing inequalities related to energy efficiency. The research investigates whether highly efficient homes present a premium price over less efficient ones and whether this premium differs according to the city's size and vibrancy of the housing market. The study focuses on six Italian cities, three metropolitans (Milan, Turin, and Florence) and three medium-sized (Padua, Mestre, and Bergamo), analysing over 2, 935 ask prices. The methodology employs the Hedonic Price Model to estimate the premium price related to different energy performance levels. The results show a market segmentation according to energy efficiency, with premium prices converging in medium-sized and metropolitan cities. The average gap between high-efficiency properties (class A) and low-efficiency properties (class G) is about 30% for medium-sized cities, narrowing to 14% between class D and class G properties. For metropolitan cities, the average gap between high-efficiency properties (class A) and low-efficiency properties (class G) is about 15%, decreasing to 6% between class D properties compared to class G properties.The findings highlight a higher depreciation in properties in less active medium-sized cities compared to those in more dynamic metropolitan areas. Metropolitan cities seem to be less affected by their position in the EPC ranking, while the energy transition shows more significant effects in medium-sized cities. This implies a possible additional difficulty for struggling territories, accentuating social and economical inequalities.
    Keywords: Built Environment; Energy transition; Hedonic Prices; Real Estate Market
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-123
  20. By: Joel Huesler (University of Bern); Eric Strobl (University of Bern)
    Abstract: We investigate how the frequent flooding that damaged the internal transport infrastructure in late 19th and early 20th colonial Jamaica affected local economies. To this end the evolution of the road and railways transport system was geo-referenced and combined with geo-localized damaging flood events, as well as with information on local economic activity proxied by internal tax revenue. Econometric analysis on our 30 year parish level time varying data set shows that lower market access from the flood disruptions to transport reduced tax revenue on average by 3.5%, and during some incidences up to 9.1%, over its two year impact. Decomposing the tax data by source suggests that both the property and the non-agricultural service sectors suffered after damaging floods. In contrast, flood disruptions benefited the agricultural sector, although only agricultural traders and not producers appear to have gained from investments in the transport network in general.
    Keywords: Transportation Network, Flooding, Market Access, Regional Economics, Jamaica
    JEL: Q54 R00
    Date: 2024–10
    URL: https://d.repec.org/n?u=RePEc:hes:wpaper:0268
  21. By: Erwin Heurkens
    Abstract: Real estate practice is subject to constant changes due to related economic, societal and environmental transitions, such as circular economy, sustainable mobility and renewable energy, that need to be taken into account when shaping the built environment. As a result, there is a growing need among public and private real estate professionals to understand the wickedness of the challenges ahead, and to develop leadership skills and appropriate courses of action to realize resilient urban real estate projects. For professional organizations and individual practitioners it increasingly becomes evident that lifelong learning is an much needed investment and effective strategy to obtain state-of-the-art knowledge and to create transdisciplinary learning experiences enabling them to adapt to the changing circumstances and to create positive societal impact. Real estate educators increasingly will face the challenge to accommodate life learning needs and extend the traditional bachelor and master course with a variety of courses aimed at educating professionals. This paper addresses the substantive and didactic principles applied in the curriculum renewal of a Dutch post-master program Master City Developer (MCD), aimed at educating planning and real estate practitioners for the challenging job ahead. This two-year professional education program is organized by Erasmus University Rotterdam and Delft University of Technology with the aim to educate practitioners to strategically lead urban development projects. The current 20th course has seen a substantial curriculum change as part of an externally financed renewal project. The renewed course structure is based on ten consecutive modules, focusing on economy, transitions, governance, investment and finance, strategy and design, transformation, law, international development, research methods, and thesis. A major content shift involves the introduction of the urban transitions module, focusing on understanding spatial-economic implications of the mobility and energy transition within various scenarios. Moreover two new modules are added. The urban transformation module support students to understand, create and apply integrative strategies to complex inner-city transformation projects. The urban law module deepens the student’s knowledge on contemporary spatial legislation and contractual law methods that assist them to effectively collaborate on planning and realizing urban projects. Besides the substantive change, various didactic principles and learning methods are introduced resonating with the latest academic insights on lifelong professional education: blended-learning, case-based learning, student-centred learning. Blended-learning involves purposely linking the weekly interactive face-to-face meetings with student flexible self-study preparations via diverse online learning materials including theme-based videos, self-assessment, and peer-to-peer assignments. Case-based learning evolves around studying one critical urban development case per module from specific theoretical perspectives, aimed at enhancing the student’s ability to critically compare practices in order to construct and apply management concepts and strategies for their own job. Student-centred earning factors in the growing need among professionals for relevant personal leadership skills, which is given shape by a personal development trajectory aimed at individual and collective reflective learning at the intersection of study and practice.
    Keywords: curriculum renewal; lifelong learning; professional education; Urban Development
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-040
  22. By: Busso, Matías; Fentanes, Oscar
    Abstract: What determines the aggregate and distributional effects of new transportation infrastructure? One key overlooked channel is the role that infrastructure policy plays in changing the incentives of firms to enter, exit, and grow--in turn generating endogenous changes in local productivity. In this paper, we document and quantify the importance of this channel by using detailed Mexican microdata and a spatial general-equilibrium model that incorporates firm dynamics. Leveraging random delays in the construction of highways, we empirically show that productivity grows in places with better transportation infrastructure. Firms play a critical role in driving these results: highways increase firms' size, entry rates, survival rates, and total factor productivity. Then, by calibrating our model on census data between 1998 and 2018, we find that new highways over this period increased welfare and income by half a percent, similar to its costs in terms of GDP. Moreover, we find substantial spatial reallocation of workers and production. Nearly half of these effects are explained by endogenous changes in local productivity, which is driven by firm dynamics.
    Keywords: Economic geography;firm dynamics;Infrastructure
    JEL: R12 D24 O18 O54
    Date: 2024–10
    URL: https://d.repec.org/n?u=RePEc:idb:brikps:13759
  23. By: Fabian Lachenmayer; Martin Christian Höcker; Andreas Pfnür
    Abstract: The need for sustainable transformation affects all areas of the economy and society. The housing situation of private households is also subject to this transformation process, with the result that housing and location preferences as well as qualitative and quantitative housing needs are changing. In recent years, the sharing economy has established itself as a new sustainable form of consumption. The wisdom "You are what you own" has been replaced by "You are what you can use and share". As the ultimate place for sharing, cities play a key role in the development and spread of this phenomenon. The concept of "shared cities", which can be applied in various areas such as spaces, mobility, objects and food, can thus make an important contribution to the efficient use of resources, the sharing of living space, energy use and conscious consumption in housing. However, little is known about the various motivations why people participate in sharing in housing.By using the Self-Determination Theory (SDT), this study aims to investigate the reasons why consumers participate in shared cities. According to this theory, motivation can be driven by intrinsic and by extrinsic values.For this purpose, survey data from n = 1, 005 German private households are analysed using multiple linear regression. The results emphasise the importance of intrinsic and in particular extrinsic motivation for the intention to participate in sharing in housing. The study provides important implications for theory and management practice in order to realise sharing in housing in the future.
    Keywords: housing; Self-Determination Theory; Shared City; Sharing Economy
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-045
  24. By: Hessami, Zohal; Schirner, Sebastian; Wobbe, Clara
    JEL: F22 J15 L26 M13 R23
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc24:302393
  25. By: Nalumino Akakandelwa; Kathy Pain
    Abstract: Improving social wellbeing has become a real estate commercial priority. Social value is increasingly considered an attribute of investment risk-return and decision-making in global capital flows into investment assets that influence health and wellbeing. Urban production and reproduction of the urban environment is a social and cultural process shaped and regulated by practices and the ‘collective action’ of a complex assemblage of private and public social actors. Within the assemblage of social actors, are significantly knowledgeable real estate professionals, influential agents and public service providers with interests in healthy urban production. However, little is known about competing constructs of health benefits between public and private stakeholders upstream and downstream in urban production which influence investment appraisal and decision-making. We review using systems approach the complexity of social actors’ interactions in pursuit of the (re)production of healthier urban environments. The sample is drawn from real estate service providers, investment companies and public authorities associated with mixed-use schemes in Bristol and Manchester city case studies. The results inform better understanding of how investors’ perceptions of inward firm benefit from and outward contribution to community quality of life are embedded in investment appraisal models and decision-making. The findings could contribute to improved transparency in the disclosure of health information in investment appraisals and decisions for the benefit of both private and public stakeholders.
    Keywords: actor social interaction; healthy urban production; systems approach; transparent disclosure
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-101
  26. By: Maria Rosaria Carillo (University of Naples Parthenope); Tiziana Venittelli (University of Naples Parthenope and GLO); Alberto Zazzaro (University of Naples Federico II, CSEF and MoFiR.)
    Abstract: We study the impact of a racial attack in 2008 by a local Camorra clan against the African community near Naples on the social identity of African immigrants. We find that in Naples and in other municipalities where the degree of insecurity was high or where there was a strong public backlash in Italian civil society against racism and violence, Africans’ identification with Italy strengthened after the massacre, while in other municipalities it weakened. This heightened identification with Italy is persistent over time and is not accompanied by a weakening of ethnic identity.
    Keywords: Immigrants’ identity; Racial discrimination; Hate-Crimes; Collective backlash, Cultural integration.
    JEL: J15 R23 Z13
    Date: 2024–07–01
    URL: https://d.repec.org/n?u=RePEc:sef:csefwp:727
  27. By: Masaki Mori; Hua Fan; Chen Zheng
    Abstract: This paper primarily explores the impact and mechanisms of smart city policies on innovation output in China’s listed enterprises. Using a sample of A-share listed companies in 246 cities from 2004 to 2019, we employ the Staggered Difference-in-Differences (DID) method to analyse the influence of smart city policies on corporate innovation. Simultaneously, we also analyse the impact mechanisms of smart city policies on corporate innovation activities from the perspectives of industry competition, agglomeration of smart city development-related industries, internet development, and enterprise digital transformation.The study reveals that smart city policies effectively promote innovation output in China’s listed companies. From the perspective of industrial development, smart city policies have substantially stimulated cities’ lower competitive enterprises to innovate, and promoted innovations through agglomeration of industries which are closely related to smart city development.From the perspective of technological development, smart city policies enhance the innovation capabilities of enterprises through the application of the Internet and information technology. Through digital transformation, enterprises can optimise department structures, reduce costs, broaden marketing channels, and improve operational efficiency, leading to further innovations.The study also finds that smart city policies significantly promote innovation output in state-owned, large, and mature enterprises. However, the impact on innovation in non-state-owned, small and medium-sized enterprises is not pronounced and may even hinder innovation. Additionally, the influence of smart city policies on corporate innovation exhibits regional imbalances, with innovative effects being significant in economically advanced first-tier cities, as well as third, fourth and fifth-tier cities. The innovation effect in medium-developed second-tier cities is not significant. These findings indicate potential design flaws and implementation constraints in smart city policies, suggesting a failure to adequately consider the actual needs and challenges of small to medium-sized enterprises and medium-developed cities, leading to unequal resource distribution.
    Keywords: Chinese corporations; Innovation; Smart City
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-050
  28. By: Maximilian von Ehrlich
    Abstract: This chapter discusses factors that contributed to different economic dynamics across European regions and the prevailing disparities. The impact of EU Cohesion Policy in reducing disparities is studied based on the empirical evidence on the effects of EU regional policy. With more than thirty years of experience, several important conclusions can be drawn about the effectiveness and efficiency of place-based transfers in Europe. While EU regional policy has not completely countered market-driven processes that lead to regional disparities, it appears to have modestly alleviated them. To enhance the effectiveness of EU Cohesion Policy, this chapter advocates for an improved policy design and a shift in emphasis towards local institutions and governments in recipient regions, emphasizing that merely increasing the volume of transfers cannot compensate for these improvements.
    Keywords: : EU Structural Policy, Place-based policies, regional inequality, economic geography
    JEL: R10 R50 H20 F20 D70
    Date: 2024–08
    URL: https://d.repec.org/n?u=RePEc:rdv:wpaper:credresearchpaper46
  29. By: Bekhtiar, Karim
    JEL: J21 J23 J61 O14 P25 R23
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc24:302396
  30. By: Nan Liu; Norman Hutchison; Yuanyuan Zhao; Bowen Yan
    Abstract: There is a gap in the existing environment, social and governance (ESG) literature in the real estate sector, where occupier characteristics with respect to ESG are overlooked. The paper investigates the relationship between the characteristics of occupiers of commercial real estate and their choice over sustainable labelled buildings, evaluates the bargaining power of tenants with different ESG agendas; and examines the potential impacts of regulation on minimum energy performance and the Covid pandemic on the relationships between occupiers’ characteristics, choice of building and rent determination.This project focuses on the London office and use lease transactions from CoStar (www.CoStar.co.uk) and occupiers’ ESG scores from Refinitiv (www.refinitive.com) from 2002 to 2022. Our empirical results show that publicly listed tenants, who are more likely to disclose their Corporate Social Responsibility (CSR) policies and therefore more likely to be ESG-conscious, are more likely to occupy a sustainable labelled (such as BREEAM certified) space. Tenants with stronger emphasis on governance (i.e., higher G pillar scores) are also more likely to choose a BREEAM certified office space. Our hedonic modelling results confirm a BREEAM related rental premium of around 9% on average in the London office market. However, this sustainable label related premium, is lower among listed firms. The introduction of minimum energy performance regulation seems to have increased listed firms bargaining power in rent negotiation due to the increased supply of more sustainable buildings. Listed firms’ bargaining power also is shown to be stronger during Covid period, as the demand for office spaces significantly reduced. Tenants’ overall ESG scores do not appear to affect effective rent they pay in the hedonic estimation, while separate scores on the ‘Social’ and ‘Governance’ pillars do seem to affect effective rent during the Covid period.This paper differs from previous ESG studies in real estate by providing further insights into occupier’s demand and covenant strength that are related to their ESG agenda, and thereby contributes to the sustainability and the ‘net zero’ debate by providing further insights from the occupiers’ perspective. It sheds light on landlord-tenant relationships and the changing occupier role in the context of ESG. The quantitative analysis and results will have direct implications to real estate investors, real estate managers, developers, occupiers, and policy makers who influence the supply and demand of commercial spaces.
    Keywords: ESG, Occupiers, Office market
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-031
  31. By: Klotz, Phil-Adrian; Daniel, Theresa; Gail, Maximilian Maurice
    JEL: R48 R41 L91
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc24:302401
  32. By: Gold, Robert; Lehr, Jakob
    JEL: D72 H54 R11 R58
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc24:302441
  33. By: Carlsson, Magnus (Department of Economics and Statistics); Finseraas, Henning (Norwegian University of Science and Technology)
    Abstract: The potential for peer pressure at the workplace is high since social interactions are frequent and we care about our social standing at work. Peer effects in politics at the workplace are important to understand since workplaces are becoming more sorted according to human capital, which implies that workplace peer effects can increase social inequalities in turnout. To quantify peer effects we use population-wide administrative data from Sweden that covers several general elections and allows us to measure the turnout of colleagues. To identify causal peer effects we use the turnout of peers of peers in previous elections as an instrumental variable. We estimate peer effects under different definitions of peer groups and leverage the richness of the data to estimate placebo peer effects. Our estimates suggest that workplace peer effects are politically important and contribute to social inequality in turnout.
    Keywords: Voter Turnout; Peer Effects; Social Networks; Workplace Dynamics
    JEL: D72
    Date: 2024–10–02
    URL: https://d.repec.org/n?u=RePEc:hhs:vxesta:2024_011
  34. By: Tess C. Scharlemann; Eileen van Straelen
    Abstract: We study how the mortgage interest deduction (MID) constrains mortgage refinancing. Households who deduct mortgage interest from their taxes face a lower post-tax interest rate, reducing the interest savings from refinancing net of taxes. We estimate the effect of the MID on refinancing using the Tax Cuts and Jobs Act (TCJA) of 2017 as a natural experiment. The TCJA doubled the standard deduction, dramatically reducing MID uptake and value. This policy affected borrowers differently based on their pre-existing mortgage interest, federal and state tax rates, and property taxes. We use heterogeneity in borrowers' pre-TCJA exposure to the policy to show that, following the TCJA, the refinancing rate amongst households who lose the MID increased by 25%. In response to a 19 basis point increase in the after-tax mortgage rate, we estimate that refinancing increases 25%. These results suggest that reductions in the MID may improve the pass-through of monetary policy.
    Keywords: Consumption; Household Finance; Monetary policy; Mortgages
    JEL: E52 G21 E21 D14
    Date: 2024–09–24
    URL: https://d.repec.org/n?u=RePEc:fip:fedgfe:2024-82
  35. By: Radosaw Cellmer; Andrzej Muczynski
    Abstract: Necessary Condition Analysis (NCA) is a new research method increasingly used in various social, medical and technical science research fields. With conventional regression-based research methods, the research problem is identifying causal relationships in an equation determining the effect of explanatory variables on the dependent variable. On the other hand, NCA uses the logic of necessity to create theoretical causal statements. This means stating that if a certain level of a condition is not present, a certain level of an outcome will also not be current, with other factors unable to compensate for the missing condition.The research presents the possibility of using the NCA method to analyse the conditions for achieving a certain level of property prices. For this purpose, relevant hypotheses derived from the logic of necessity are proposed, and ways of testing them are presented. The necessity condition relates to the presence of a certain level of quantitative and qualitative property characteristics necessary to achieve a price effect. This takes into account the fact that the relationship between property characteristics and prices is sometimes linear.The research was based on data on residential property prices in selected Polish cities. As a result, several property characteristics were established, the appropriate level of which is a prerequisite for the property price to reach a certain level in a given local market.As a result of the research, it was discussed whether applying the NCA method could provide new information to market participants (developers) and decision supporters (managers, valuers, etc.).
    Keywords: casuality; housing; necessary condition analysis; Real Estate Market
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-086
  36. By: Daniel Huerta; Chris Mothorpe
    Abstract: The function of a REIT manager is to effectively and profitably manage a real estate portfolio. Among the ways to achieve this goal is to improve performance by managing market exposure through geographic diversification. Previous research recognizes the role of portfolio geographic diversification on efficiency and firm value. For example, Campbell, Petrova and Sirmans (2003) explain REIT property acquisitions produce wealth benefits when companies reconfirm their geographical focus suggesting firms benefit from more geographically concentrated portfolios. Similarly, Hartzell, Sun and Titman (2014) find that as REITs increase the geographical dispersion of their properties, firm value significantly decreases, also suggesting a REIT geographical diversification discount. More recently, Feng, Pattanapanchai, Price and Sirmans (2021) find a relationship between the level of firm transparency and the benefit of geographical diversification; that is, less transparent firms benefit from geographical concentration while more transparent firms benefit from diversification. Relatedly, Zhu and Lizieri (2022) suggest REITs with more geographically concentrated portfolios observe higher risk when the portfolio is exposed to more volatile property markets but if portfolios are geographically diversified, the effect of local market risk decreases. In sum, the evidence of whether geographical diversification improves or decreases REIT efficiency and value remains inconclusive. In this paper, we explore the impact of geographical diversification from an international perspective. We find that although most U.S. equity REITs tend to concentrate assets in the continental United States, a non-trivial portion of the U.S. REIT market tends to diversify internationally. Therefore, we raise the question of whether the strategy of international geographical diversification is value-enhancing.
    Keywords: REIT international diversification; Reit Performance; REIT Portfolio Management; REIT value
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-117
  37. By: Makino, Keita; Compostella, Junia; Lee, Yongsung; Circella, Giovanni
    Abstract: Prior studies of travel mode choice in airport ground transportation identified several important relationships between traveler/trip attributes and the selected ground access mode(s). However, those studies did not comprehensively account for qualitative aspects of ground access mode choice, such as general and transportation-specific attitudes and perceptions of mode-specific airport infrastructure. To add insights into air travelers’ ground transportation choices, this study collected a dataset with a survey administered among travelers using four major airports in Northern California in the post-pandemic era.Among the analyses presented in the report, airport ground access mode choice was analyzed, and its relationships with travelers’ socio-demographics, attitudes toward transportation and related topics (e.g., environmental friendliness), and opinions about transportation infrastructure and services (e.g., airport parking fees). The authors identified relationships between air travelers’ attitudes or opinions and their mode choice not examined in prior studies. Specifically, travelers with pro-environment attitudes preferred public transit and ridehailing services over private vehicles. Travelers are more likely to choose public transit often if they highly rate its service frequency and accessibility from their home to a nearby station. The results suggest policymakers, airport authorities, and transit agencies consider electrification of ridehailing fleets, expansion of bus and rail service availability, and higher parking fees to reduce driving in private vehicles to the airport. View the NCST Project Webpage
    Keywords: Social and Behavioral Sciences, Airport ground access, Travel Mode Choice, Attitudes and Perceptions, Airport infrastructure, Transportation Network Company (TNC)
    Date: 2024–08–01
    URL: https://d.repec.org/n?u=RePEc:cdl:itsdav:qt21x0c45b
  38. By: Muhammed Bolomope; Abdul-Rasheed Amidu; Olga Filippova; Deborah Levy
    Abstract: High-magnitude earthquakes are major disruptors that significantly influence property investment preference in seismic regions. Whereas rational regulatory policies are consistently proposed to enhance investors' adaptation to seismic hazards, scholars have noted that the adaptive response of property investors often deviates from the rational expectations of policymakers. Therefore, by leveraging the behavioural perspective on investment decision-making, this study explores the adaptive strategies of New Zealand Real Estate Investment Trusts (NZ REITs) to seismic disruptions. The study is based on the documentary analysis of the annual reports of NZ REITs, with forty-eight annual reports analysed for content that described how the REITs responded to high-magnitude seismic events that threatened their well-established business operation models over an extended period (from 2009 to 2019). The study findings indicate that notwithstanding the provisions of rational, seismic-related regulations, the adaptive response of NZ REITs to seismic disruption is driven by asset demand and influenced by behavioural factors such as loss aversion location bias, herding and anchoring. By highlighting the complementary significance of rational and intuitive considerations, the findings from this study suggest that NZ REITs are not only compliant but dynamic in their response to seismic disruptions. The research findings could enhance policy formulation and implementation towards ensuring a holistic response to seismic disruptions.
    Keywords: Adaptation; New Zealand; Real Estate Investment; Seismic Disruption
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-067
  39. By: Louise Brown; Alan Brown
    Abstract: Background: It has been reported that 35% of UK adults feel anxious when doing maths (KPMG 2023). Maths anxiety has been defined as “feelings of tension and anxiety that interfere with the manipulation of numbers and the solving of mathematical problems in a wide variety of ordinary life and academic situations.” (Richardson and Suinn 1972). The majority of research into maths anxiety has been in the context of mathematics teaching and there is a limited research base of evidence from an applied mathematical context such as real estate which involves statistics and valuation as core components. Interventions that reduce maths anxiety have the potential to both improve retention and also to enhance equality, diversity and inclusion (EDI) in real estate education. Samuel et al (2023) indicate that MAGMA (mindfulness and growth mindset approach) is an effective approach to reducing maths anxiety. Post pandemic incidences of anxiety amongst the student population have increased, Basheti (2023) reported 46% of students surveyed were experiencing abnormal levels of anxiety due to the pandemic measures.Methodology: The project will use validated instruments : the Berlin Numeracy scale (a psychometric test) to determine statistical numeracy and risk literacy; the UK Maths Anxiety scale (MAS-UK) and the three item Growth Mindset scale to produce a baseline for the cohort of students. The MAGMA intervention approach (Samuel et al, 2023) which focusses on mindfulness and growth mindset will be implemented at the beginning of each session and encouraged as part of directed study. At end of the semester the UK Maths Anxiety instrument will be rerun and a short questionnaire on the perceived effectiveness of interventions over the period of the module delivery.Attendance figures will also be used as a proxy for level of interest and engagement and compared with other modules in that semester. Attrition and failure rates will also be monitored.Data will be collected from January to April 2024. The research questions are :At what level does maths anxiety exist amongst students in applied mathematical subjects?Are there correlations between maths anxiety and numeracy/gender/previous qualifications?To what extent do MAGMA strategies alleviate maths anxiety?Can this approach be applied in other real estate modules?The paper will present findings from the initial research project.
    Keywords: Growth Mindset; Innovative Teaching; Maths Anxiety; Risk Literacy
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-012
  40. By: John A. List; Haruka Uchida
    Abstract: An unsettling stylized fact is that decorated early childhood education programs improve cognitive skills in the short-term, but lose their efficacy after a few years. We implement a field experiment with two stages of randomization to explore the underpinnings of the fade-out effect. We first randomly assign preschool access to children, and then partner with the local school district to randomly assign the same children to classmates throughout elementary school. We find that the fade-out effect is critically-linked to the share of classroom peers assigned to preschool access—with enough treated peers the classic fade-out effect is muted. Our results highlight a paradoxical insight: while the fade-out effect has been viewed as a devastating critique of early childhood programs, our results highlight that fade-out is a key rationale for providing early education to all children. This is because human capital accumulation is inherently a social activity, leading early education programs to deliver their largest benefits at scale when everyone receives such programs.
    JEL: C93 I24 I30 J19
    Date: 2024–10
    URL: https://d.repec.org/n?u=RePEc:nbr:nberwo:33027
  41. By: Aleksi Luoma
    Abstract: Purpose: This study delves into the realm of public-private value co-creation within real estate development projects. The rise in project-based planning has necessitated enhanced collaboration between the private and public sectors. A key observation is the unclear relationship between such cooperation and land-use practices. The primary goal of this research is to identify institutional factors that either facilitate or impede value co-creation in these projects.Study Design/Methodology: In this qualitative study, data were collected through semi-structured interviews with real estate developers and public sector representatives in Finland. To analyze the data, we applied Scott's (2008) framework of institutional pillars. This framework helps categorize various institutional indicators, including laws, norms, and beliefs, and assess their impact on value co-creation as either barriers or facilitators.Findings: The study provides insights into improving value co-creation in real estate development. We found that normative and cultural-cognitive factors have a greater influence than regulatory factors. The main drivers identified for value co-creation include a faster, more predictable development process, and the creation of more valuable outcomes. However, the study also brings to light barriers such as inadequate operational practices, conflicting objectives, and challenges in cooperation. It concludes with the emphasis on the need for innovative collaborative practices and fostering an open culture of co-creation in the real estate development sector. Addressing these challenges and leveraging these drivers are critical for effective value co-creation.Originality/Value: This study contributes to the field of value co-creation literature by offering new insights into the institutional environment in real estate development, particularly in understanding how various institutional factors can either support or impede the process of value co-creation.
    Keywords: institutional factors; Public-Private Collaboration; Real Estate Development; Value Co-Creation,
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-112
  42. By: Andrii Shcherbyna; Vsevolod Nikolaiev
    Abstract: The paper presents the conclusions from the authors' search of the problems of multi-apartment building maintenance carried out by inefficient owners in Ukraine and other post-socialist countries after privatization.In the introduction the authors presented a comprehensive historical analysis of the housing sector of Ukraine and identified housing stock degradation trends. Than they analyzed experts' visions of the ways of further housing provision of citizens focusing on the property relations. Especial attention was drawn to the necessity of harmonizing the housing policy with the model of the welfare state which must be clearly defined taking into account the unity of two components in the concept of housing: the vital needs of a person, on the one hand, and the value of real estate as assets of the owner, on the other hand.The author’s methodology of the housing value and cost analysis used several modern economic concepts: imputed rent, life cycle costing, and sustainability. The subject of research was deepened by applying theoretical provisions about legal and economic ownership in relation to residential real estate, in particular, objects of joint ownership. The models of joint ownership of housing in different countries were classified in detail, and the specifics and shortcomings of the formation of the Ukrainian condominium model were clearly shown against this background.Then, multidirectional factors in housing ownership model were theoretically discovered. It was shown, on the one hand, the economic feasibility of joint home ownership, and, on the other hand, the complication of the management system when splitting: a single real estate object into a land plot, buildings, structures and apartments; a single owner into numerous co-owners of common property; a bungle of property rights into individual rights of subjects regarding various objects of residential real estate. In this way, the inevitability of problems in condominiums was theoretically justified.As a practical illustration of attempts to solve these problems, on the examples of different countries, the varieties of the classic dualistic condominium model were shown. Particular attention was paid to the uncertainty of physical objects of individual ownership and their value, which creates numerous problematic situations in management. It was shown that the high and unclearly defined cost of maintaining real estate in a condominium leads to the need for significant indirect state participation in the maintenance of private housing in apartment buildings, which contradicts to the principles of market economy.The inferences were made that, in contrast to the dualistic model of the condominium, the most developed countries returned to the concept of a single real estate object in the form of a unitary model admitting the economic nature of the processes of housing maintenance and operation. Thus, the conclusion about the optimal organizational form of joint home ownership - a housing company – was made.In the specific conditions of Ukraine (poor condition of buildings, insolvency of residents, mass destructions caused by the war, absence of convenient investment mechanism for restoration), the necessity of transforming the real property of inefficient owners in condominiums into corporate rights in a housing company with the possibility of attracting external investors to finance the renovation was substantiated. For this purpose, the principles of state regulation and statutory self-management of housing companies, which will be created based on the best practices of the latest corporate management, were proposed. As a generalization of the advantages of housing companies as a form of ownership and management of real property, the prospects for the use of digital technologies and tokenization in property partial transactions and in the management of housing stock were shown.
    Keywords: company; Condominium; housing; real property
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-017
  43. By: Julius Golej; Andrej Adamušin; Miroslav Panik
    Abstract: Automated value model (AVM) is a computerized statistically based software that collects and uses Big Data in the real estate sector. It uses property information such as comparable and historical sales, property characteristics, price trends, and any other information relevant to the property in its algorithm. The effectiveness of using AVM depends on the amount and especially the quality of the data used because only high-quality data can be considered reliable and representative. At the same time, it should be added that machine data collection and evaluation in the field of real estate would never be as accurate as manual valuation, where the appraiser can, based on his knowledge and experience, take into account factors that are not taken into account and documented in the collected data, through a physical inspection. Even if an appraiser uses certain specific methods to determine the price of a property, the appraiser's subjectivity factor always enters the valuation process, which can create a certain deviation in human-generated sales prices compared to the price generated by the software. The following contribution is devoted to the issue of creating an AVM model for evaluating real estate sales prices. The authors collaborated on the creation of such a model for practice in Slovak conditions, the main goal of which was to increase the efficiency and productivity of work in the field of real estate valuation.
    Keywords: automated value model; Big data; Real Estate Market; Real estate prices
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-038
  44. By: Hannan Vilchis Zubizarreta; Samuel Azasu; Elena Lacilla
    Abstract: Purpose - This paper aims to systematically analyze research on Environmental, Social, and Governance (ESG) practices and financial performance in the real estate sector, an area that has not yet been fully explored. The study focuses on evaluating how ESG factors affect financial and non-financial outcomes in real estate, considering the sector's unique dynamics and inherent complexities.Design/Methodology/Approach - The study utilized a systematic literature review guided by the PRISMA framework, ensuring a comprehensive and transparent analysis.Findings - The findings reveal a spectrum of associations between ESG practices and financial performance within the real estate sector, ranging from positive correlations to no significant impact, and occasionally, inverse effects. This variation in outcomes underscores the multifaceted nature of ESG impacts and the complex dynamics of the sector.We observed an increased interest in ESG after 2018. Geographically, the research is concentrated in developed markets, with a significant portion of studies emerging from North America and Europe.We also observed a notable variation in methodological approaches suggesting the need for a unified ESG framework, which could help to reconcile divergent interpretations of ESG's financial implications.Key unanswered questions that emerged from our analysis include: How do ESG practices influence the asset value in varying market conditions? What are the long-term financial impacts of ESG integration on real estate portfolios? How does investor demand for ESG compliance translate into real estate development and management practices?Originality/Value - The patterns and identifying pivotal researchers and topics, this review provides valuable insights into the sector's trajectory towards a more integrated ESG approach and suggests promising directions for future research.
    Keywords: Esg; Financial Performance; real estate; sustainability
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-134
  45. By: Abdullah Yavas; Lu Fang; Lingxiao Li; David Scofield
    Abstract: We study how hurricane-related climate risk affects the commercial real estate (CRE) market using hurricane Sandy as an example. We introduce an ex-post climate risk measurement for CRE assets by supplementing a sample of CRE transactions in the New York Metropolitan Area before and post Sandy with a dataset containing detailed assessments of the severity of the storm-related damage and flooding. Among the four major types of CRE assets including offices, retail stores, warehouses, and apartments, we only document a significant and negative price impact by Sandy to offices, whereas no significant effect on the value of other CRE types. Specifically, we find robust evidence that unaffected office assets surrounded by severely damaged properties within proximity experienced a significant price penalty for four years following the storm. Meanwhile, we did not find any significant price impact on unaffected office assets with moderately damaged properties or flooded properties nearby. Additionally, it seems that the documented price penalty to unaffected office assets located in most severely damaged neighborhoods is mainly driven by a decline in building occupancy. We attribute the differential impact of Sandy on office and other CRE to the increase in remote work for office employees triggered by Sandy. We also note that the absence of any impact of Sandy on other CRE, including apartments, compared to significant and negative impact on single family homes reported in earlier studies (Fang et al. 2023) is an indication of more rational expectations and pricing in the commercial space.
    Keywords: Commercial; Hurricane; rationa.; Valuation
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-088
  46. By: Neil A. Cholli; Steven N. Durlauf; Rasmus Landersø; Salvador Navarro
    Abstract: Recent research has uncovered large spatial heterogeneity in intergenerational mobility across neighborhoods in countries around the world. Yet there is little consensus on the reasons why mobility is high in some neighborhoods and low in others. This paper analyzes a generalized mobility model that examines the roles that families’ selection into neighborhoods and locational characteristics play in generating this spatial heterogeneity. We use administrative data from Denmark to decompose variation in mobility across nearly 300 larger and 2, 000 smaller neighborhoods along these dimensions, accounting for sampling error. Families’ selection into neighborhoods and sampling error explain most observed heterogeneity across neighborhoods. Our generalized model explains most of the differences in mobility between neighborhoods, though a small but persistent difference remains between neighborhoods that our model cannot account for. An analysis of this “irreducible heterogeneity” suggests that neighborhoods exhibit multiple types in terms of their mobility effects.
    JEL: D30 H0 J0 R0
    Date: 2024–10
    URL: https://d.repec.org/n?u=RePEc:nbr:nberwo:33035
  47. By: Taiwo, Kayode
    Abstract: Education is crucial to national development and teachers are the principal component in educational production. Teacher quality manifests in student achievements and educational outcomes Improving the quality of education rests on attracting and retaining good teachers who can help students navigate their ways in a changing world and produce graduates that can drive development and technological revolutions. Selection into the teaching profession is facing severe threats, and there is a growing teacher shortage. A complex interaction of demand and supply factors causes teacher shortages. In addressing the shortage of teachers, the government introduced a demand side intervention by enacting and activating The Harmonised Retirement Age for Teachers in Nigeria Act. The law extends the tenure and retirement age of teachers in the face of crippling teacher shortage in schools. This study assessed this development in relation to tenure and teacher quality in Nigeria. The working conditions of teachers are poor and demotivating. Data reveals that many of the current teachers have poor attributes. The study concludes that keeping incapable and poorly trained teachers longer in teaching service will not benefit educational development and student outcomes. The government intervention only masks deeper issues affecting selection into the teaching profession, which should be addressed.
    Keywords: Labour law, Retirement age, Teacher quality, Teacher shortage, Tenure
    JEL: I28 J48 J58 M59
    Date: 2024–08
    URL: https://d.repec.org/n?u=RePEc:pra:mprapa:121931
  48. By: Zaharieva, Anna; Iftikhar, Zainab
    JEL: J23 J31 J61 J64
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc24:302348
  49. By: Antonia Díaz (Instituto Complutense de Análisis Económico (ICAE), Universidad Complutense de Madrid (Spain).)
    Abstract: Wealthier, risk-averse buyers pay more to expedite up transactions in competitive search markets. This, coupled with forward-looking intermediaries who hold vacant homes overnight, implies that a credit expansion produces a boom in prices that slowly recedes over time. This boom is due to a combination of two effects. First, search and matching frictions imply that buyers are willing to pay a higher price to trade faster, not only to consume housing services. Second, the fact that intermediaries are forward-looking implies that trading probabilities today depend on the future evolution of prices. Since agents forecast that prices are higher than in the initial steady state, they turn to trading today. Our theory produces a boom in prices that slowly recedes and a gradual rise of homeownership rate.
    Keywords: Competitive search; Wealth effects; Housing prices; Credit constraints; Housing supply; Elasticity; Rental market; Transitional dynamics.
    JEL: D31 D83 E21 R21 R30
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:ucm:doicae:2404
  50. By: Dylong, Patrick; Übelmesser, Silke
    JEL: C90 D83 F22 J15
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc24:302334
  51. By: Schirner, Sebastian
    JEL: D72 J16 J15 H70 F22
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc24:302435
  52. By: Gözde Karahan; Kerem Yavuz Arslanli
    Abstract: Site selection studies in urban planning have traditionally relied on subjective judgments, often made by a limited team, leading to decisions that may need more objectivity. This research addresses the need for a more systematic and objective method for choosing locations, particularly in cases involving large geographies and numerous properties and/or branches.The study introduces a novel approach to site selection by proposing a geodemographic segmentation method. Leveraging Geographic Information Systems (GIS), this method divides wider geographies into segments, facilitating more informed decision-making in location selection. By reducing the reliance on subjective judgments, the proposed method aims to enhance the efficiency of decision support systems, allowing for the utilisation of accumulated experience in a more structured manner.Central to the research is the development of a generalisable socioeconomic segmentation method tailored for the location selection of commercial real estate with a significant number of branches. The study employs Bayesian approaches to analyse demographic data, searching for a robust foundation for decision-making processes.The anticipated outcomes of this research include the generation of geodemographic segments through GIS and establishing a generalisable socioeconomic segmentation method. These segments will serve as the study's results and be integrated into location selection models, contributing to more effective decision support systems.
    Keywords: Geodemographic Segmentation; GIS; site selection
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-080
  53. By: Andinet Woldemichael; Iyke Maduako
    Abstract: Housing represents the largest asset and liability, in the form of mortgages, on most national balance sheet. For most households it is their largest investment, and when mortgages are required also represents the largest component of household debt. It is also directly tied to financial markets, both the mortgage market and insurance sector. Although many countries have a rich set of housing censuses and statistics, others have large data gap in this area and therefore struggle to formulate effective policies. This paper proposes an approach to construct a global census of residential buildings using opensource satellite data. Such a layer can be used to assess the extent these buildings are exposed to climate hazards and how their production and consumption, in turn, affect the climate. The approach we propose could be scaled globally, combining existing layers of building footprints, climate and socioeconomic data. It adds to the ongoing effort of compiling spatially explicit and granular climate indicators to better inform policies. As a case study, we compute selected indicators and estimate the extent of residential properties exposure to riverine flood risk for Kenya.
    Keywords: Census of buildings; Climate Exposure; Building Footprint
    Date: 2024–09–20
    URL: https://d.repec.org/n?u=RePEc:imf:imfwpa:2024/204
  54. By: David Koch; Simon Thaler
    Abstract: Automated Valuation Models (AVMs) play a pivotal role in appraisal of real estate as collateral for mortgage loans by banks. However, the verification of these models poses a significant challenge. When relying solely on a single appraiser to determine the AVM's validity, concerns may arise regarding a potential subjectivity bias, stemming from the individual preferences of the appraiser. Conversely, if verification is based on transaction prices, critics may argue that it relies on outdated prices due to the time lag between contract conclusion and final sale which can invoke a so-called temporal lag or smoothing bias. Therefore, we address the question of which validation mechanism is most suitable for verifying AVM accuracy. Over a period of three years, approximately 250 properties were evaluated each year. Each property was assessed by two students from the real estate management field. All students had already received training in property valuation, but they had diverse backgrounds, such as being undergraduate or graduate students, and either working full-time or part-time. About half of the total 30 students were already employed in the real estate industry. The over 750 evaluated properties represent transactions collected within the scope of loan approvals and were assessed using an AVM model. Additionally, the actual transaction price is available. This means that for each property, there is the transaction price, the AVM value, and two values from different students.In our analysis we consider three methods: single appraiser verification, transaction price verification, and an verification by two less-experienced students. The aim is to demonstrate a comparison of the valuations. We examine potential benefits and limitations and look into the effect on potential biases which can be improved by the students-based approach and influence the overall reliability of AVMs. Initial results already indicate that the average from both students' assessments significantly represents an improvement.
    Keywords: Mass appraisal verification; Smoothing bias; Subjectivity biases; Wisdom of the crowd
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-025
  55. By: Robert W. Fairlie; Daniel M. Oliver; Glenn Millhauser; Randa Roland
    Abstract: An extensive literature in the social sciences analyzes peer effects among students, but estimation is complicated by several major problems some of which cannot be solved even with random assignment. We design a field experiment and propose a new estimation technique to address these estimation problems including the mechanical problems associated with repeated observations within peer groups noted by Angrist (2014). The field experiment randomly assigns students to one-to-one partnerships in an important gateway STEM course at a large public university. We find no evidence of peer effects from estimates of exogenous peer effect models. We push further and estimate outcome-on-outcome models which sometimes reveal peer effects when exogenous models do not provide good proxies for ability. We find some limited evidence of small, positive outcome-on-outcome peer effects (which would have been missed without our new estimation technique). Standard estimation methods fail to detect peer effects and even return negative estimates in our Monte Carlo simulations because of the downward bias due to mechanical problems. Simulations reveal additional advantages of our technique especially when peer group sizes are fixed. Estimates of non-linear effects, heterogeneous effects, and different measures of peer ability and outcomes reveal mostly null effects but we find some evidence that low-ability peers negatively affect low-ability and medium-ability students. The findings in this setting of long-term, intensive interactions with classroom random assignment and “throwing everything at it” provide evidence of, at most, small positive peer effects contrasting with the common finding of large peer effects in previous studies in education.
    JEL: I22 I23
    Date: 2024–10
    URL: https://d.repec.org/n?u=RePEc:nbr:nberwo:33060
  56. By: Andres Rodriguez-Pose; Federico Bartalucci; Nancy Lozano-Gracia; Maria Davalos;
    Abstract: Territorial development theory and practice have witnessed significant change in recent times. This change has increasingly put the spatial dimension at the centre of development policies. Where agglomeration-focused policies derived from urbanization and agglomeration economics were once prominent, their empirical limitations have become increasingly apparent. Greater territorial polarization and pervasive left-behindedness has underscored the need for a more inclusive territorial development approach prompting increased interest in understanding and addressing regional disparities to ensure more equitable economic growth. This article synthesizes the growing interest in territorial development, which has driven to the adoption of what are increasingly place-based and place-sensitive approaches to development. The article also emphasises the need for complementary between efficiency-driven and equity-focused interventions, while highlighting emerging topics in regional economics research, including the role of institutions, agency, and external megatrends such as the green transition. We conclude by advocating a place-sensitive approach that tailors policies to regional challenges, promoting economic potential, diversification, and inclusivity across all regions.
    Keywords: economic development, growth, efficiency, equity territories, regions
    JEL: R11 O18 R58 Q56
    Date: 2024–10
    URL: https://d.repec.org/n?u=RePEc:egu:wpaper:2434
  57. By: Andrea Coveri (Department of Economics, Society & Politics, Università di Urbino Carlo Bo); Elena Paglialunga (Department of Economics, Roma Tre University, Italy); Antoenllo Zanfei (Department of Economics, Society & Politics, Università di Urbino Carlo Bo)
    Abstract: The geographic dispersion of production activities has led regions to increasingly specialize in specific value chain functions, giving rise to a finer spatial division of labour. In this work, we use georeferenced FDI data to investigate the geography of functions and the interdependencies between functional and sectoral specialization of European regions. We show that the most intangible-intensive functions at the upper ends of value chains are concentrated in few advanced regions, while lower-income ones are largely and persistently specialized in production operations. Moreover, we find that regions locked-into low value-adding functions are the least likely to upgrade towards more knowledge-intensive industries. By contrast, only the few regions which experienced functional upgrading trajectories have been able to diversify towards more innovative industries. Accordingly, regional policies should aim at favouring functional upgrading of laggard regions as a key vehicle for economic and spatial convergence in Europe.
    Keywords: Geography of functions; Inter-regional inequality; Foreign direct investment; Global value chains; European regions
    JEL: F21 F23 L23
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:urb:wpaper:24_01
  58. By: McGinnis, Claire; Barajas, Jesus M. PhD
    Abstract: The historical impacts of transportation planning and investment have left lasting scars on communities of color and low-income communities. This research evaluates online equity tools that exist as spatial dashboards —i.e., interactive maps in which the parameters of interaction are controlled. Twelve tools ranging from the national to the local level were identified and qualitatively assessed for their ability to address conditions related to transportation equity. The evaluation focused on how each tool defines disadvantaged communities, the outcomes they measure (benefits, burdens, or other), their ease of use, and their ability to guide decisions about equity. The findings show a diversity of methods and metrics in defining disadvantage, with most relying on composite demographic indexes and comparative population thresholds. Tools most commonly provided accessibility metrics to assess transportation benefits, while incorporating a range of environmental and health indicators as burden measures. A minority of tools had integrated features to support planning or project implementation. This study provides examples of promising practices in transportation equity support tools.
    Keywords: Social and Behavioral Sciences, Transportation equity, environmental justice, metrics (quantitative assessment), performance measurement, decision making, data dashboards
    Date: 2024–09–01
    URL: https://d.repec.org/n?u=RePEc:cdl:itsdav:qt5jz35792
  59. By: Jonathan Muringani; Rune Dahl Fitjar; Andres Rodriguez-Pose; ;
    Abstract: This paper examines the complex relationship between political and social trust, government quality, and economic development across 208 regions in the European Union (EU). We use a pooled data generalized structural equation model (GSEM) to show that political trust serves as a fundamental driver of regional economic development in the EU. Political trust is, in turn, influenced by both social trust and government quality. Social trust and government quality have quadratic effects on political trust, showing diminishing returns, while the effect of political trust on economic development is linear. Political trust mediates the relationship between social trust and economic development entirely, while government quality retains a direct relationship with economic development. These findings underscore the fundamental role that political trust plays as a mechanism through which both formal and informal institutions shape regional development.
    Keywords: EU, Political trust, Quality of government, regional economic development, social trust
    JEL: O43 D73 R11 H11
    Date: 2024–10
    URL: https://d.repec.org/n?u=RePEc:egu:wpaper:2436
  60. By: Hendrik Jenett; Maximilian Nagl; Cathrine Nagl; McKay Price; Wolfgang Schäfers
    Abstract: In the current context of heighted market tensions driven by rising interest rates, there is vital interest for both researchers and practitioners to understand the dynamics of Real Estate Investment Trust (REIT) returns and their accompanying uncertainties. To address this concern, we examine the drivers of REIT returns and volatility in a time-varying framework, spanning the modern REIT era (1991 to 2022). Our study is the first to simultaneously forecast both REIT returns and their associated volatility using an artificial neural network. We contribute to the literature by opening the black-box character of neural networks, enabling the identification of individual feature impacts on predictions and their evolution over time.The key focus revolves around understanding how the influence of accounting and macroeconomic variables changes during periods of financial crises compared to non-crisis periods. The results showcase superior predictive capabilities of the neural network compared to conventional regression models. We shed light on the intricate interplay of diverse variables influencing the performance of REITs. Our findings hold implications for investors, policymakers and researchers navigating the complex landscape of real estate investments in a dynamically evolving market environment.
    Keywords: Machine Learning; Neural Network; REIT Return; Volatility
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-107
  61. By: Martins, Pedro S.; Dai, Li; Duan, Wenjing
    Abstract: Local labour market concentration may influence firms' employment responses to minimum wages. We evaluate this hypothesis using comprehensive 1998-2007 data on China's manufacturing sector and about 1, 400 hand-collected county-level minimum wages. We find that, consistently with monopsony views, the negative effects of minimum wages on employment are reduced when labour market concentration is higher. We also find positive employment effects of minimum wages, but only in some specifications and in highly concentrated labour markets (representing a relatively small share of employment). Firms' training provision is also harmed less by minimum wages in more concentrated local markets. Our findings highlight the heterogeneity of policy impacts across local labour markets.
    Keywords: Minimum wages, labour market concentration, employment, monopsony, training
    JEL: J31 J38 J42
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:zbw:glodps:1504
  62. By: Bruno Conte; Klaus Desmet; Esteban Rossi-Hansberg
    Abstract: Using a multisector dynamic spatial integrated assessment model (S-IAM), we argue that a carbon tax introduced by the European Union (EU) and rebated locally can, if not too large, increase the size of Europe’s economy by concentrating economic activity in its high-productivity non-agricultural core and by incentivizing immigration to the EU. The resulting change in the spatial distribution of economic activity improves global efficiency and welfare. A carbon tax introduced by the US generates similar effects. This stands in sharp contrast with standard models that ignore trade and migration in a world shaped by economic geography forces.
    Keywords: economic geography, climate change, carbon taxes
    JEL: R12 Q54 H23
    Date: 2024–10
    URL: https://d.repec.org/n?u=RePEc:bge:wpaper:1464
  63. By: Miroslav Despotovic; Stumpe Eric; Matthias Zeppelzauer; Roberto Labadie-Tamayo
    Abstract: In recent years, there has been an increasing focus on addressing the problem of feature extraction and/or imputation of missing real estate data for training Automated Valuation Models (AVM), where Multi-Task Learning can be used as a convenient solution. Multi-task learning aims to learn multiple different tasks simultaneously while maximizing performance on certain or all the tasks. By learning several tasks in parallel, the information learned for one task can be used to better generalize for another task. The related information from other tasks thereby serves as a domain-specific inductive bias. This inductive bias is the pre-requisite for the classifier's or regressor's ability to generalize.Thereby, a more general representation should be learned that takes relationships between the different tasks into account and that enables transferring knowledge learned for one task to another (shared concepts). As a result, on task can build upon the information leaned for another task.To cope with the feature extraction and missing information in the data we leverage the framework of multi-task learning. Thereby, we aim at exploiting mutual information between similar real estate attributes for more accurate prediction of the extracted features. We aim at stacking and connecting task-specific layers on top of the multimodal representation. We jointly fine-tune the individual models with the information available as ground truth and connect the individual predictors to enable the sharing of concepts between real estate attributes. The main challenge is the different nature of the attributes that shall be modeled. Some attributes may be categorical (e.g. type of floor), others binary (e.g. balcony vs. no balcony) and others continuous (e.g. living area). Thus, different target functions must be optimized that require for different cost and regularization functions. This makes the learning task more difficult than typical multi-label learning tasks where all target functions are of the same type.The results show improved robustness of prediction by jointly modeling multiple attributes (including real estate properties' unstructured description text, images, numerical and categorical meta data) via multi-task learning, i.e. by leveraging information learned for one attribute to predict another one. We were able to achieve a particularly good prediction accuracy rate for external building characteristics such as year of construction, building condition and even heating demand.As real estate related attributes can be related (e.g. bulding condition is very likely to correlate with heating demand or building size is very likely to correlate with the number of floors) the joint modeling of multiple attributes in a multi-task fashion is a promising direction. We believe that the present study provides new insights into the use of alternative data and state-of-the-art analysis techniques for real estate analysis and provides a promising basis for further research in this area.
    Keywords: Automated Valuation Models; Data Enrichment; Multi-Task Machine Learning
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-023
  64. By: Jolanta Panas; Gabriel Gówka; Anna Grygiel-Tomaszewska
    Abstract: Purpose – The purpose of this study was to analyze how ESG criteria are implementing in allocation decision-making processes assets by real estate investment funds in Poland.Design/methodology/approach – As part of the research project entitled Quality of management of ESG aspects and resilient to crises. Enterprises - financial institutions - local government, planned for 2022-2024 at the Collegium of Business Administration at the SGH Warsaw School of Economics, the focus was on how ESG factors are understood by various economic entities from both the private and public sectors. The researched entities were represented by companies listed on the Warsaw Stock Exchange, financial institutions, in particular, investment funds focused on investing in securities and funds investing in real estate, and local government units. The interdisciplinary research team was divided into research groups depending on the type of entity being the subject of the research. Empirical research was conducted in November / December 2022 in the form of focus group interviews divided into the entities under study. The following section presents detailed conclusions from focus group interviews conducted among selected real estate funds. To the research group in the context of real estate funds, consisted of representatives, among others: asset managers of real estate funds who decide on the selection of real estate for investment portfolios, risk managers, managers responsible for creating products and managers responsible for compliance.Findings – The multi-faceted nature and complexity of the ESG issue is reflected in the broad impact of the issue of sustainable development on the functioning of the entire economy, on the functioning of the real estate sector due to the resource-intensity and emission-intensity of buildings. The results of the above-described research among real estate funds indicate that nowadays ESG factors constitute a key challenge for real estate portfolio managers.Research limitations/implications – Currently, the most important contribution to drawing attention to the need to apply the ESG concept are EU cascading regulations regarding the activities of individual groups of entities. The examined entities face numerous challenges, including: such as: the need to learn and understand changes in regulations and requirements of key stakeholder groups in the field of non-financial aspects of management, awareness of opportunities for sustainable transformation in the context of ESG or developing appropriate competences to use them.Practical implications – From the conducted research, it can be clearly stated that real estate fund managers are striving to create a standardized assessment of real estate sustainability because the expected future value of investment portfolios depends on the degree of their sustainability.Originality/value – The research has tracked how ESG criteria are implementing in allocation decision-making processes assets by real estate investment funds in Poland. The real estate funds participating in the described study are in the initial phase of ESG transformation, at the same time, the people representing them are highly aware of the importance of ESG issues for the entities they represent. In the near future, further identification of criteria should be expected to assess the potential benefits resulting from compliance with ESG requirements by entities from the real estate sector as well as closely related sectors.
    Keywords: Esg; Poland; real estate; Sustainable Assessment
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-068
  65. By: Rodríguez-Puello, Gabriel
    Abstract: This paper evaluates the local effects of an exogenous economic shock, specifically, a mining boom, on crime levels and the mechanisms behind this relationship, including the effect of the boom on local economies’ labor market conditions. The paper contributes with empirical evidence to the literature on the impact of commodity booms, specifically mining, on criminal activities. Based on the exogeneity of the mining boom and the geographical location of minerals, I apply the synthetic control method using municipality-level data from Sweden for the period 1996-2015. This paper focuses on the total number of crimes, which is then subdivided into crimes against persons and crimes against wealth. I find evidence that the mining boom improves the labor market conditions of mining municipalities, which translates into long-term (2013, 2014, and 2015) reductions in total crime. The evidence suggests that the improvement in labor market conditions (employment, wages, and disposable income) is the main mechanism by which the mining boom reduces crime. I find no evidence for the other mechanisms considered: the mining boom does not affect the population composition, the government’s crime prevention capacity, or the income inequality in mining municipalities.
    Date: 2024–09–16
    URL: https://d.repec.org/n?u=RePEc:osf:osfxxx:s8ayp
  66. By: Helen Price; Danielle Sanderson; Peter McLennan
    Abstract: The sale of residential real estate plays a significant role in the UK economy. In 2020 the economy benefitted on average by around £9, 559 per transaction. An average of 1.25m transactions contributes nearly £12bn to GDP. 44% is directly attributed to the process, the largest proportion 33% arising from estate agent and conveyancing fees. 56% is generated after the sale of the property, from renovations, and household goods.Home buying and selling in England is widely acknowledged to be notoriously stressful. Consequently, since 1997, reform of the process has been high on various Governments’ agendas, without success. In 1998 it took on average 77 days to exchange contracts (offer to completion) and 28% of transactions failed. In 2022, despite advances in technology, it took even longer, 132 days to exchange and 38% of transactions failed.The 2018 resurgence has three main objectives: to improve customer service; speed up transactions; and reduce the number of transaction failures. Utilising previous Government research, this research investigates whether mandating information upfront will improve the process. The inclusion of a property condition report and reservation agreements will also be evaluated. Comparisons with other countries where the same shortcomings are not apparent will also be made.This research will use a mixed methodology to canvass the opinions of key actors and engage with consumers to record and comment on their journey through the process. The research will seek to demonstrate that the process and the dynamics of buying and selling are integrated. Buyers and sellers typically change homes simultaneously, so a “chain” is a characteristic of this “process.” It is important to evaluate the complete process and the associated dynamics when implementing changes.This research will develop a conceptual framework of the housing purchase decision-making process for the English system and focus on the psychological factors impacting mandating information. The research also explores the impact of the latter on listing price, lender’s valuation and sold price, as the time to complete as opposed to time on the market.This presentation will focus on the process, the causes of delay, and the theoretical framework.
    Keywords: Completion Times; Failed Transactions; real estate; Residential Property
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-033
  67. By: Yaya, OlaOluwa S.; Olayinka, Hammed Abiola; Adebiyi, Aliu A; Atoi, Ngozi Victor; Olugu, Mercy U.; Akinkunmi, Wasiu B.
    Abstract: We checked against the law of one price between urban and rural consumer price indices of goods and services in Nigeria, using data that span January 1995 to April 2024. By first testing for persistence in price indices, we found a similar pattern of persistence that is non-mean reverting in all the CPI components except in Communication and Education where mean reversions are possible in the urban and rural areas. Communication and Restaurants & Hotels are major net inflation transmitters in both urban price region and rural price regions, while Clothing & footwear, and Furnishings & Household equipment maintenance also have minor roles to play in this regard at both price regions. Food & Non-alcoholic beverages; and Alcoholic beverages, tobacco & kola; transportation; Recreation and culture; and Miscellaneous goods and services are major net inflation shock receivers. We found Housing, water, electricity, gas and other fuel; Health; and Education to have different inflation shock transmitting roles for both urban and rural areas. Pricing at urban and rural areas are in tandem, thus policies that could further close the price gaps such as urbanisation and good road systems should be enacted.
    Keywords: CPI inflation, Nigeria, Urban-rural price differentials
    JEL: C2 C22 R11
    Date: 2024–09–26
    URL: https://d.repec.org/n?u=RePEc:pra:mprapa:121106
  68. By: Danilo Cavapozzi (Ca’ Foscari University of Venice); Enrico Fornasiero (Ca’ Foscari University of Venice); Teresa Randazzo (University of Naples Parthenope; Fondazione CMCC; RFF-CMCC EIEE)
    Abstract: This paper analyses the impact of the Indian Mid-Day Meal Scheme on the health and cognitive outcomes of schooling children living in the Indian State of Andhra Pradesh. We exploit the variability derived from the individual educational history of children, combined with the phased implementation of the program targeting only students in the public sector, to construct a variable measuring the monthly cumulative exposure to the Mid-Day Scheme. We provide evidence of the positive impact of the policy on children attending public schools, particularly in reducing inequalities between children enrolled in the private and public sectors. Lastly, employing a Heckman Selection model accounting for the selection issue on the type of school attended by children, we show that the impact of the policy is positive and consistent regardless of the type of school attended.
    Keywords: Midday meal, School Feeding, Learning, Health, India
    JEL: I21 I25 O12
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:ven:wpaper:2024:14
  69. By: Koen Frenken; Frank Neffke; ; ;
    Abstract: The global economy operates as a complex system that allocates resources in a decentralized way across myriad agents. Over time, it exhibits an impressive rate of collective learning as evidenced by its growing productivity and the expanding variety of output it generates. However, growth, productivity and learning are not distributed equally across locations. On the contrary, wealth, opportunity, economic activity and innovation tend to all concentrate in a relatively small number of affluent places. Various strands of complexity Science have contributed to our understanding of these phenomena. However, they have done so in disconnected debates and communities. In this chapter, we use the framework of Economic Complexity to synthesize insights derived from three distinct literatures: urban scaling, evolutionary economic geography and global production networks. Economic complexity proposes that production requires access to capabilities, such that increasing the variety of economic production requires acquiring or accessing new capabilities. From this synthesis, we derive a research agenda that aims to understand how local economies develop, not only as individual units exploring their adjacent possible, but as parts of a system that allows local economies to mix their capabilities with those of distant counterparts by relying on the interplay of multinational corporations, global value chains and institutions to coordinate interactions at the local and global scale.
    Date: 2024–10
    URL: https://d.repec.org/n?u=RePEc:egu:wpaper:2431
  70. By: Hanzl, Lisa
    JEL: I24 H52 J15 C33
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc24:302387
  71. By: Max Nathan; Henry G. Overman; Capucine Riom; Maria Sanchez-Vidal
    Abstract: This paper considers the impact of a major public sector relocation: the British Broadcasting Corporation's partial move from London to Salford, Greater Manchester starting in 2011. We identify effects of the move using synthetic control methods applied to plant-level data at Local Authority and Travel to Work Area level. Each BBC job creates on average 0.33 additional jobs in the creative industries, rising to 0.55 additional jobs by 2017, and the relocation had an impact on sectoral and firm composition. We find no significant effect on total employment but a small positive effect on Local Authority average wages.
    Keywords: cities, public employment, local multipliers, relocation, creative industries, policy evaluation
    Date: 2024–10–16
    URL: https://d.repec.org/n?u=RePEc:cep:cepdps:dp2042
  72. By: Huafeng, Zhang (Centre for Land Tenure Studies, Norwegian University of Life Sciences); Holden, Stein T. (Centre for Land Tenure Studies, Norwegian University of Life Sciences)
    Abstract: To promote SDG Goal 4 and "education for all", this study investigates children’s basic reading skills in 11 low-income and lower-middle-income African countries, using standardized reading tests from the Multiple Indicator Cluster Surveys (MICS). Research specifically examining children’s reading skills and disparities across socioeconomic groups in African contexts remains scarce. This study addresses a critical knowledge gap by providing comparative evidence on reading skills disparities across diverse social backgrounds, including children with disabilities. Our study provides new evidence on the “Learning Crisis in the Global South”, revealing alarmingly low levels of reading skills but with considerable variation across the 11 African countries studied. Substantial reading skills differences exist between children from disadvantaged backgrounds—those with disabilities, living in rural areas, and from poorer, less educated families—and their non-disadvantaged peers. Notably, these disparities are often more pronounced in countries with higher overall reading proficiency. Moreover, there are persistent gaps between children with and without disabilities across the countries and socioeconomic groups in this study. Encouragingly, children with disabilities benefit from improved socioeconomic conditions just as much as non-disabled children. These findings underscore the diverse challenges faced by children from different disadvantaged backgrounds in varying contexts.
    Keywords: Africa; Children with disabilities (CWD); Educational inequality; Poverty; Reading skills; Socioeconomic background; Urban-rural disparity
    JEL: I24
    Date: 2024–10–16
    URL: https://d.repec.org/n?u=RePEc:hhs:nlsclt:2024_005
  73. By: Jakob Vanschoonbeek
    Abstract: The recent rise and distinct geography of populism highlights the need for high resolution data on the economic and political landscapes and improved spatial political economy models that explain their interrelation. This paper shows that divergent development generates political externalities in lagging regions. To do so, it develops a dynamic spatial political economy model that integrates redistributive taxation and agglomerated economic growth in a standard economic geography framework. It finds that divergent development induces skill-biased labor mobility towards faster growing locations, simultaneously reducing their willingness to pay redistributive taxes and increasing their electoral influence on redistributive policy. To empirically validate and calibrate the model, the Spatial Political Economy in Europe Database (SPEED) is introduced, containing newly georeferenced electoral maps, political party classifications and gridded (per capita) GDP estimates for most European countries in the 17th release of the Constituency-Level Electoral Archive (CLEA). Instrumental variable regressions exploiting geographically-determined differences in economic growth potential confirm a strong constituency-level causal relation between underdevelopment and radical vote shares in the past two centuries. Counterfactual simulations suggests that policies that enhance labor mobility or income redistribution may both increase radical vote shares at least in the short run, as they risk fueling backlash in lagging and leading regions respectively.
    Keywords: Economic geography, political economy, political discontent, long term effects of divergent development, quantitative model
    Date: 2024–10–04
    URL: https://d.repec.org/n?u=RePEc:ete:vivwps:750408
  74. By: Mahamadou Bassirou Tangara
    Abstract: Armed conflicts significantly affect the social and economic conditions of societies in turmoil, disrupting the normal functioning of local economies. This study seeks to delve into the repercussions of armed conflicts on the dynamics of local economies in Ségou and Mopti, Mali, since the conflict outbreak in 2012.
    Keywords: Armed conflict, Mali, Economic conditions, socioeconomic consequences, Regional economics
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:unu:wpaper:wp-2024-53
  75. By: Hastuti; Dyan Widyaningsih; Gema Satria Mayang Sedyadi; Romi Bhakti Hartanto
    Keywords: Open Junior High School, SMPT, underprivileged student, free education
    URL: https://d.repec.org/n?u=RePEc:agg:wpaper:3755
  76. By: Jennifer Hunt; Iain M. Cockburn; James Bessen
    Abstract: Using our own data on Artificial Intelligence publications merged with Burning Glass vacancy data for 2007-2019, we investigate whether online vacancies for jobs requiring AI skills grow more slowly in U.S. locations farther from pre-2007 AI innovation hotspots. We find that a commuting zone which is an additional 200km (125 miles) from the closest AI hotspot has 17% lower growth in AI jobs' share of vacancies. This is driven by distance from AI papers rather than AI patents. Distance reduces growth in AI research jobs as well as in jobs adapting AI to new industries, as evidenced by strong effects for computer and mathematical researchers, developers of software applications, and the finance and insurance industry. 20% of the effect is explained by the presence of state borders between some commuting zones and their closest hotspot. This could reflect state borders impeding migration and thus flows of tacit knowledge. Distance does not capture difficulty of in-person or remote collaboration nor knowledge and personnel flows within multi-establishment firms hiring in computer occupations.
    JEL: O33 R12
    Date: 2024–10
    URL: https://d.repec.org/n?u=RePEc:nbr:nberwo:33022
  77. By: Mélanie Gittard (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique)
    Abstract: Since 2000, Kenya has experienced an increase in the frequency of droughts, significantly affecting agriculture and driving labor force migration. This paper investigates strategic migration patterns among farmers and pastoralists in response to repetitive droughts. I use fine-grained data that enables the capture of shortdistance migration and heterogeneity, combining satellite-based data on daily rainfalls (CHIRPS) with exhaustive censuses from 1989, 1999, and 2009. I use a two-way fixed-effect model to exploit the spatial variation in drought frequency across 2, 518 sub-locations, comparing their demographic growth according to the number of dryrainy seasons over each decade. First, I show that increased drought frequency triggers out-migration, as one additional drought decreases demographic growth by 1.7 p.p, equivalent to a 1% population decline. This result is consistent within the [15; 65] age group, excluding other demographic effects and confirming migration as the driving factor. The main contribution of this paper is the identification of different migration strategies across livelihoods. Rural areas dominated by pastoral activities experience significant out-migration, leading to a rural-rural shift from pastoral to agriculture-oriented regions. Herders' migration displays little heterogeneity, suggesting the migration of entire households and consistent with migration as a last resort. Agricultural rural areas are less vulnerable to drought and display significant heterogeneity. The results show the migration of the most educated individuals in the working age, while uneducated individuals are trapped in affected areas. This paper highlights the importance of using detailed data to understand diverse migration strategies, thereby facilitating the implementation of effective policies.
    Keywords: Kenya, Droughts, Migration, Population, Census data
    Date: 2024–09
    URL: https://d.repec.org/n?u=RePEc:hal:ciredw:halshs-04685409
  78. By: Mr. Fei Han; Grace Li Bin; Chenqi Zhou
    Abstract: The COVID-19 pandemic has weakened the fiscal positions of local governments in China, while the recent stress in the Chinese property market has further compounded this issue, calling for stronger fiscal risk sharing among provinces. This paper examines the existing central to local governmental transfer system and its effect on interprovincial risk sharing and redistribution in China. We show that the fiscal transfers have played an important role in risk sharing although their main purpose is still redistribution. We also propose an alternative transfer mechanism with the size of transfers to each province linked to the shocks that the province is facing to enhance the fiscal risk-sharing effect. Using counterfactual simulations, we show that such an alternative mechanism can significantly enhance risk sharing among all provinces against idiosyncratic shocks while maintaining a comparable level of redistribution effect. Intergovernmental reforms and other structural measures could also be considered to further improve policy efficiency and effectiveness.
    Keywords: Risk sharing; redistribution; intergovernmental reform; local government
    Date: 2024–09–20
    URL: https://d.repec.org/n?u=RePEc:imf:imfwpa:2024/200
  79. By: Travis Baseler (University of Rochester)
    Abstract: Online appendix for the Review of Economic Dynamics article
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:red:append:24-54
  80. By: Lucie Letrouit (AME-SPLOTT - Systèmes Productifs, Logistique, Organisation des Transports et Travail - Université Gustave Eiffel); Martin Koning (AME-SPLOTT - Systèmes Productifs, Logistique, Organisation des Transports et Travail - Université Gustave Eiffel)
    Abstract: Building on the exogenous shock linked with the first COVID-19 lockdown in France (March-May 2020), we propose an original approach relying on econometric modelling to estimate the impacts of road freight transport on the concentration of NO2, NOx and PM10 in Paris. We argue that this shock led to a significant change in the composition of road traffic, with an increase in the relative share of freight vehicles with respect to passenger cars, due to the combined exodus of numerous inhabitants, the prohibition of non-mandatory trips and the promotion of home-deliveries. As light-duty vehicles and trucks pollute more than passenger cars, we hypothesize that it led to a rise in the average emissions of pollutants per kilometer traveled in Paris. We confirm this assumption by applying a simple econometric analysis to a rich dataset containing hourly pollutant concentrations and hourly traffic flows recorded in various locations of the French capital city. Relying on the econometric results and on additional back-of-the-envelope computations, we propose tentative estimates of the health impacts of road freight transport. As compared to a counterfactual in which freight traffic in Paris would have declined in the same proportion as cars during the sanitary crisis, hence resulting in a larger decrease in pollutants concentrations, we conclude that around 6 lives have been lost. Crossing this estimate with the official value of statistical life in France, our central scenario approximates at 0.114 euro/vkm the excess external cost of the local pollution emitted by freight vehicles as compared to cars.
    Keywords: Road freight traffic, Air pollution, COVID-19 lockdown, Health, External cost
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:hal:journl:hal-04695669
  81. By: Arlinghaus, Johanna Brigitte; Konc, Théo; Mattauch, Linus; Sommer, Stephan
    JEL: H71 R41 Q52
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc24:302449
  82. By: Kerem Yavuz Arslanli; Ayse Buket Onem; Cemre Ozipek; Maide Donmez; Belinay Hira Guney; Maral Tascilar
    Abstract: The research focuses on creating an estimation tool designed to automatically evaluate both environmental and economic benefits arising from low-carbon investments in the real estate sector, with a particular emphasis on large building stocks. The tool offers a swift and dependable assessment of energy consumption related to heating, hot water, cooling, and electricity in buildings, considering specific features like building geometry and orientation.Assessing a building's energy demand involves comparing the existing state (pre-retrofit) and the proposed design (post-retrofit). The annual energy savings and net monetary gains achieved over the entire investment cost will be attributed to the renovation investment after a predefined period. This tool is poised to streamline the evaluation process for the impact of low-carbon initiatives in real estate, providing valuable insights into the potential environmental and economic advantages of such investments. Ultimately, it aims to facilitate informed decision-making for stakeholders involved in large-scale building renovations, contributing to a more sustainable and economically viable real estate sector.
    Keywords: Energy Demand Modelling; low carbon; Post-Disaster Settlements
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-051
  83. By: Anna Wojewnik-Filipkowska
    Abstract: Measuring development is challenging. Stiglitz, Fitoussi and Durand point out (Beyond GDP. Measuring What Counts for Economic and Social Performance, OECD, Paris 2019) that new measures are needed to help protect people from possible shocks, and restore a sense of security and trust in anti-crisis policies. It is also necessary to change the way we think about what is a component of well-being. The subject of the research is the city as an organization, the phenomenon which is a home for almost 60% of the population. The work is based on the following assumptions:Organizations can be thought of as a system, which means that the connections between the components of the system must be taken into account when making changes to the organization.All organizations operate under the influence of the environment, therefore problems related to functioning and development must be considered taking into account the relationship with the economic, social, political, and natural environment.The condition for the survival and development of an organization is the ability to learn and adapt to the anticipated internal and external changes determining the operating conditions.Cities can be analyzed and described using the concepts of Sustainable City, Smart City, and Resilient City. The main objective of this paper is to develop and present the "Fundamental Power of the City" index – a tool for strategic diagnosis and monitoring of city development, where the fundamental power of the city is a synthesis of the concept of a sustainable, intelligent, and resilient city. Research methods include literature analysis and synthesis, and design method.
    Keywords: Resilience; Smart City; Sustainable Development
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-130
  84. By: Kragl, Jenny; Bental, Benjamin; Safaynikoo, Peymaneh
    JEL: D63 D82 M52 M54
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc24:302380
  85. By: Hanushek, Eric A.; Kinne, Lavinia; Sancassani, Pietro; Wößmann, Ludger
    JEL: I21 Z10
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc24:302338
  86. By: Barra Novoa, Rodrigo
    Abstract: This study provides a comprehensive and critical analysis of the trajectory of industrial policy and technological absorption in Chile over the last three decades. The article examines the paradigm and institutional shift in the promotion of innovation, highlighting significant advances in key sectors of the Chilean economy, such as mining, salmon farming, fruit farming and the emerging green hydrogen sector. The research underlines the key role of the state in Chile's industrial and technological development, supported by institutions such as CORFO and ANID. Key factors driving this incremental progress include macroeconomic stability, investment in infrastructure, increased R&D funding and policies aimed at fostering innovation. However, to improve the effectiveness of the industrial strategy and address challenges related to regional inequality, a more adaptive and sustained approach is required to fully capitalise on the opportunities offered by the country's resources and capabilities.
    Keywords: Industrial Policy, Technology Absorption, , Innovation, Economic Development
    JEL: E02 O31 P42
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:zbw:esprep:303491
  87. By: Yoshifumi Konishi (Faculty of Economics, Keio University); Sho Kuroda (Faculty of Commerce, Waseda University); Shunsuke Managi (Department of Urban and Environmental Engineering, School of Engineering, Kyushu University)
    Abstract: We empirically examine the distributional consequences of income-based versus place-based recycling of carbon tax revenues when automobile demand varies substantially over geographic space. Using a large household dataset from Japan, we estimate a discrete-continuous choice model that parsimoniously accounts for the geographic distribution of incomes, public transit, and portfolio preferences. The model outperforms a naive random-coefficient model in explaining the observed spatial distribution of automobile demand, and allows us to estimate the price and income elasticities that vary by income and public transit density. The estimated model is used to simulate the distributional impacts of income-based versus place-based revenue recycling on carbon emissions and consumer welfare. Our results show the following: first, the improvement in consumer welfare from rebates substantially outweighs the increase in negative externalities from the rebound in carbon emissions; second, place-based recycling outperforms income-based recycling in mitigating welfare losses for low-income and rural households, which face the greatest welfare losses from the carbon tax.
    Keywords: Carbon dividend, climate justice, equity-efficiency trade-off
    JEL: H23 H31 L62 Q54 Q56
    Date: 2024–08–29
    URL: https://d.repec.org/n?u=RePEc:keo:dpaper:2024-019
  88. By: Berliant, Marcus; Watanabe, Axel
    Abstract: This article demonstrates the emergence of agglomeration unaccompanied by conventional explanatory factors such as scale economies, externalities or comparative advantages. We construct a general equilibrium model with four commodities, four types of households and linear production over two regions. A pair of types behave disassortatively when their endowments complement each other. The resultant distribution involves an intense agglomeration consisting of varied types. In contrast, they behave assortatively when they are in direct competition for endowments that cannot be transported or produced. This results in a moderate agglomeration with a disproportionate presence of selected types. Complementarity and endowment portability are the primary causative factors behind consumer behavior and subsequent equilibrium agglomeration.
    Keywords: Agglomeration; General equilibrium; Spatial sorting
    JEL: R13
    Date: 2024–10–02
    URL: https://d.repec.org/n?u=RePEc:pra:mprapa:122263
  89. By: Li, Xinwei; Jenn, Alan
    Abstract: This study delves into the energy and emissions impacts of Shared Autonomous and Electric Vehicles (SAEVs) on disadvantaged communities in California. It explores the intersection of evolving transportation technologies—electric, autonomous, and shared mobility—and their implications for equity, energy consumption, and emissions. Through high-resolution spatial and temporalanalyses, this research evaluates the distribution of benefits and costs of SAEVs across diverse populations, incorporatingenvironmental justice principles. Our quantitative findings reveal that electrification of the vehicle fleet leads to a 63% to 71% decrease in CO2 emissions even with the current grid mix, and up to 84%-87% under a decarbonized grid with regular charging. The introduction of smart charging further enhances these benefits, resulting in a 93.5% - 95% reduction in CO2 emissions. However, the distribution of these air quality benefits is uneven, with disadvantaged communities experiencing approximately 15% less benefits compared to more advantaged areas. The study emphasizes the critical role of vehicle electrification and grid decarbonization in emissions reduction, and highlights the need for policies ensuring equitable distribution of SAEV benefits to promote sustainable and inclusive mobility. View the NCST Project Webpage
    Keywords: Engineering, Social and Behavioral Sciences, Shared, autonomous, electric vehicles, equity, environmental justice, disadvantaged communities
    Date: 2024–09–01
    URL: https://d.repec.org/n?u=RePEc:cdl:itsdav:qt08h3p0r6
  90. By: Romuald Le Frioux Author-Name : André de Palma Author-Name : Nadège Blond (CY Cergy Paris Université, THEMA)
    Abstract: This study explores how speed limit regulations for cars in Île-de-France affect air pollution from road trac and the economic costs linked to the population's exposure to this pollution. Using an enhanced version ofthe comprehensive and integrative modeling system, METRO-TRACE (Le Frioux, de Palma, and Blond, 2023), the research combines detailed geographical data, a mobility model to simulate population movements, and an air quality model to assess the economics costs associated with population exposure to road trac related air pollution . The ndings show that the yearly cost of population exposure to road trac pollution is 118.6 e per person. Implementing speed limit policies may not signicantly reduce these costs unless they are substained over the long term or accompanied by behavioral adjustments. The study highlights the intricate relationship between speed limits, pollutant emissions, and their economic consequences.
    Keywords: Trac pollution, population exposure, integrated chain of model, dynamic transport model, air pollution exposure monetarization
    JEL: R48 Q51 Q58 Q53
    URL: https://d.repec.org/n?u=RePEc:ema:worpap:2024-10
  91. By: Giulia Ferrari; Rosa Weber
    Abstract: This paper presents a comprehensive contextual database designed to enhance the understanding of demographic phenomena by integrating socioeconomic measures at multiple geographic levels in France. The database was developed to support the "Trajectories and Origins 2" (TeO2) survey and contains approximately 400 indicators derived from the 2018 French population census, harmonized historical census data, and other administrative sources. These indicators provide valuable context on immigration, socio-economic structures, and living conditions, allowing for a fine-grained analysis of demographic behaviors. By linking geographic context to survey data, this database offers a robust tool for examining the impact of the local environment on individual life trajectories. The database covers various geographic levels including IRIS, municipalities, and employment zones, and is planned to be made available to researchers through a secure data hub. Future work will focus on developing a visualization tool for easy data access and updating the database with new data releases.
    Keywords: Contextual Database, Socioeconomic Indicators, Spatial Demography, Small Area Indicators, Census Data Analysis, Data access, TeO2, France, Data linkage, IMMIGRATION / IMMIGRATION, DONNEES DE RECENSEMENT / CENSUS DATA, BANQUE DE DONNEES / DATA BASES, CONDITIONS DE VIE / LIVING CONDITIONS, MILIEU SOCIAL / SOCIAL ENVIRONMENT, INDICATEUR SOCIO-ECONOMIQUE / SOCIO-ECONOMIC INDICATORS, FRANCE / FRANCE, PARCOURS DE VIE / LIFE COURSE, RECENSEMENT DE POPULATION / POPULATION CENSUSES
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:idg:wpaper:1i8etzibo4xb9gqodfdt
  92. By: Eduardo Hernandez-Rodriguez; ; ; ;
    Abstract: This paper studies technological diversification in European regions incorporating global value chain participation as interregional linkages. The empirical analysis is developed for 243 NUTS-2 European regions between 2000-2010. Results show that, while regional capabilities remain crucial, global value chain participation matters for technological diversification. Particularly, backward participation in global value chains increases the chances of regions to trigger technological diversification. Forward participation in global value chains only increases the likelihood of technological diversification when combined with regional capabilities. Finally, global value chain participation is found to be more relevant for transition regions rather than for less and more developed regions.
    Keywords: Global value chains, technological diversification, backward-forward participation, relatedness, interregional linkages, European regions
    JEL: F14 F63 O33 R11 R12
    Date: 2024–09
    URL: https://d.repec.org/n?u=RePEc:egu:wpaper:2429
  93. By: Jorrit Van Beurden; Rianne Appel-Meulenbroek; Lisanne Bergefurt; Pascale Le Blanc; Mathilda du Preez
    Abstract: New experiences with working from home (WfH) during the COVID-19 pandemic have led to a global shift towards hybrid working. This option to incorporate flexibility in when and where to work seems to have become preferred by many employees and employers. Hybrid working can offer benefits such as reduced commuting time and improved work-life balance, however challenges like communication difficulties remain. Also, this shift to remote and hybrid work presents a significant change in employees' work patterns. Understanding the impact of hybrid working choices and both office and home workplace design on employees and organizations is crucial. Concerns include potential declines in organizational outcomes, such as individual and team productivity, workplace cohesion, and organizational identification. This study therefore explores the relationships between individual, job, and workplace characteristics and hybrid working modes with these organizational outcomes. The data for the statistical analyses stem from the employees of two Dutch office-based organisations that participated in the "Work in Transition (WiT)" research project, a collaboration between the Center for People & Buildings, Eindhoven University of Technology, and Delft University of Technology. Through an online survey, 6, 414 office workers of these two (semi-)public organisations answered questions about their job, workplace at home and the office, personal characteristics, hybrid working choices and their perception of the mentioned organizational outcomes. Their answers were analysed with bivariate analyses. In addition, effect sizes were determined to identify the most meaningful relationships.Results show that particularly self-management skills, having shared workplaces at the corporate office, satisfaction with the home office, and workplace autonomy had the largest effects on the organizational outcomes. The findings emphasize the shift in office use towards collaborative tasks in the office and concentrated work at home. Recommendations include restructuring offices and providing support plans for home office setup and self-management skills.
    Keywords: Corporate real estate; Hybrid working; organisational outcomes; Self-Management
    JEL: R3
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-032
  94. By: Eduardo Amaral Haddad; Karim El Aynaoui; Abdelaaziz Ait Ali; Mahmoud Arbouch; Hamza Saoudi
    Abstract: The earthquake’s overall impact on growth is estimated to be around -0.24% of GDP in 2023. - Due to the spatial concentration of the earthquake, Al-Haouz province and the Marrakesh region experienced Gross Regional Product (GRP) losses of -10.2% and -1.3%, respectively. - The 120 billion Moroccan dirhams (MAD) recovery program will have only mild positive impacts on overall macroeconomic growth from 2023 to 2028 but will significantly benefit the High Atlas region due to the reallocation of resources from non-affected to affected areas. - The overall macroeconomic impact is significantly influenced by the decision regarding the financing package, whether through new funds (debt) or investment reallocation. - However, this decision results in minor differences in the substantial positive impacts on the High Atlas region.
    Date: 2024–06
    URL: https://d.repec.org/n?u=RePEc:ocp:ppaper:pb33-24
  95. By: Bert Van Landeghem; Thomas Dohmen; Arne Risa Hole; Annemarie Künn-Nelen
    Abstract: This study examines jobseekers' preferences for a variety of job attributes. It is based on a choice experiment involving 1, 852 clients of the Flemish Public Employment Service (PES). Respondents value flexibility (e.g., remote work and schedule flexibility), job security and social impact of the job, and require significant compensation for longer commute times. A majority (70%) would need very substantial wage increase beyond their acceptable baseline wage to compensate for less flexibility, job security or social impact. These findings enhance our understanding of labour supply decisions and can inform the design of salary packages and HR policies.
    Keywords: Reservation Wage; Job Search; Job Amenities; Compensating Differentials; Choice Experiments
    JEL: J31 J32 J64 J16
    Date: 2024–09
    URL: https://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2024_597
  96. By: Donges, Alexander; Streb, Jochen
    JEL: D22 N64 N94 R12
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:zbw:vfsc24:302389
  97. By: V. Candila; O. Cepni; G. M. Gallo; R. Gupta
    Abstract: This paper examines the influence of local (state-specific) and global Economic Policy Uncertainty (EPU) on the volatility of US state-level equity returns. We employ a GARCH-MIDAS approach that incorporates multiple EPU indices as low-frequency predictors of daily stock return volatility. To address the challenge of selecting the most relevant EPU indices, we utilize an Elastic Net (EN) shrinkage method to combine forecasts from different models. Our results reveal that the combined model, which leverages information from both local and global EPU indices, generally outperforms single specifications. Further, a cluster analysis based on the volatility forecasts uncovers distinct geographical patterns, suggesting that state-level volatility is influenced by both state-specific and nationwide policy uncertainties. These findings highlight the importance of considering both local and global economic policy uncertainty in understanding and predicting the volatility dynamics at the regional level.
    Keywords: C32;C53;G10;G17;D80
    Date: 2024
    URL: https://d.repec.org/n?u=RePEc:cns:cnscwp:202414
  98. By: Costanza Giannantoni; Andres Rodriguez-Pose; ; ;
    Abstract: Declining fertility and the persistent underrepresentation of women in the labour market are key concerns of our time. The fact that they overlap is not fortuitous. Traditionally, women everywhere have faced a conflict in balancing their career ambitions with family responsibilities. Yet, the pressures arising from this conflict vary enormously from one place to another. Existing research has tended to overlook the geographical features of this dilemma, which could result in an inadequate understanding of the issue and lead to ineffective policy responses. This paper examines how variations in the quality of regional institutions affect women’s capacity to reconcile career and motherhood and, consequently, gender equality within Europe. Using panel data from 216 regions across 18 European countries, we uncover a positive effect of regional institutional quality on fertility rates, taking into account variations in female employment. Moreover, we show that European regions with better government quality provide a more reliable environment for managing the career/motherhood dilemma often faced by women. In contrast, women living in regions with weaker government institutions are more constrained in both their career and childbearing options.
    Keywords: Fertility; Gender equality, Institutional quality; European regions
    JEL: J11 J13 R11
    Date: 2024–10
    URL: https://d.repec.org/n?u=RePEc:egu:wpaper:2435
  99. By: Ying Chen (University of Nottingham Ningbo China); Tom Lane (Newcastle University); Stuart McDonald (University of Nottingham Ningbo China)
    Abstract: Using a laboratory experiment, we study the evolution of economic networks in the context of fragmented social identity. We create societies in which members can initiate and delete links to others, and then earn payoffs from a public goods game played within their network. We manipulate whether the society initially consists of segregated or integrated identity groups, and vary whether societal mobility is high or low. Results show in-group favouritism in network formation. The effects of original network structure are long-lasting, with initially segregated societies permanently exhibiting more homophilic networks than initially integrated ones. Moreover, allowing greater social mobility results in networks becoming less rather than more integrated. This occurs in part because eviction from networks is based on out-group hostility when societal mobility is high, and on punishing free riders when mobility across groups is low.
    Keywords: social identity; social network; in-group bias; homophily; laboratory experiments
    Date: 2024–07
    URL: https://d.repec.org/n?u=RePEc:not:notcdx:2024-07
  100. By: Wei Cheng; Bruce A. Weinberg
    Abstract: The adoption of new ideas is critical for realizing their full potential and for advancing the knowledge frontier but it involves analyzing innovators, potential adopters, and the networks that connect them. This paper applies natural language processing, network analysis, and a novel fixed effects strategy to study how the aging of the biomedical research workforce affects idea adoption. We show that the relationship between adoption and innovator career age varies with network distance. Specifically, at short distances, young innovators’ ideas are adopted the most, while at greater network distances, mid-career innovators’ ideas have the highest adoption. The main reason for this contrast is that young innovators are close to young potential adopters who are more open to new ideas, but mid-career innovators are more central in networks. Overall adoption is hump-shaped in the career age of innovators. Simulations show that the aging of innovators and of potential adopters have comparable effects on the adoption of important new ideas.
    JEL: D85 J11 O33
    Date: 2024–10
    URL: https://d.repec.org/n?u=RePEc:nbr:nberwo:33030

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