This study examines how the value of residential land and structures evolved during the great housing boom and bust using data on more than a million residential properties that were sold in ten metropolitan areas between 1998 and 2009. We use a hedonic estimator to disentangle the market value of land and structures at a local (census tract) level. Our estimates reveal substantial heterogeneit...

In housing markets, neighborhood characteristics are a key source of information heterogeneity: sellers are usually better informed about neighborhood values than buyers are, but some sellers and buyers are better informed than their peers are. Consistent with predictions from a new framework for analyzing such markets with heterogeneous assets and differentially informed agents, we find that c...

We show that the long-range Ewald operator can be resolved as erf(ωr12)/r12 = ∑k ϕk*(r1) ϕk(r2), where ϕk is proportional to the product of a spherical Bessel function and a spherical harmonic. We demonstrate the use of this new resolution by calculating the long-range Coulomb energy of the nanodiamond crystallite C84H64 and the long-range exchange energy of the graphene C96H24. The resolution ...

The fraction of covalently closed circular R-factor R12 deoxyribonucleic acid (DNA) isolated from Proteus mirabilis was found to depend upon the pH of the buffer used to suspend the cells at the time of lysis. Examination of the open circular DNA revealed that there is one strand-specific nick per R-factor molecule. This same DNA strand also appeared to be bound to a proteinaceous particulate f...

In this paper we endogenously group 311 U.S. cities by using dynamic clustering techniques. Then, we try to determine what the economic determinants of clustering are. In so doing, we use a spatial econometric model that disentangles the effect of intercity interactions operating through the input-output matrix from the effect of all others interactions. Preliminary incomplete version Do not ci...

This article presents a summary of our conversation on the past, present and future of the new economic geography, which took place with the help of an interlocutor in San Juan, Puerto Rico in November 2002. Following the introduction, we explain what the new economic geography is, and we describe some basic models. The discussion of its various critical aspects is presented subsequently, and t...