Another feature is the large and growing share occupied by the government. Government financial institutions also have specialized business areas, such as export and import, overseas investment, development, small businesses, agriculture, forestry and fisheries, and housing. Post offices absorb funds through postal savings, insurance schemes and pension plans (see Chart 1 , llOrganization Chart...

extended abstract 1. introduction given the horizontal expansion of cities in recent decades, there are a lot of unused and abandoned lands in large cities. these lands are now an opportunity for urban redevelopment and investment. attracting domestic and foreign investments to cities has been very common in recent decades, which has turned the national nature of large cities to international (...

The housing prices in many Asian cities have grown rapidly since mid-2000s, leading to many reports of bubbles. However, such reports remain controversial as there is no widely accepted definition for a housing bubble. Previous studies have focused on indices, or assumed that home prices are lognomally distributed. Recently, Ohnishi et al. showed that the tail-end of the distribution of (Japan/...

The current economic crisis has long-term causes that are rooted in the economic dynamics of globalization. I construct a Solow-style endogenous model of capital accumulation, technological change, trade and foreign direct investment (FDI), based on myopic agents. Combining advanced technologies with low labor costs, FDI yields extraordinary profits that generate asymmetric innovation incentive...

We describe the successes and challenges faced by federal and local government agencies in the United States as they have attempted in recent years to connect public and environmental health, housing, community development, and building design with environmental, housing, and building laws, codes, and policies. These policies can either contribute to or adversely affect human physical and menta...

THE DYNAMICS OF HOUSING PRICES: AN INTERNATIONAL PERSPECTIVE∗ by Peter Englund Yannis M. Ioannides Department of Economics Department of Economics University of Uppsala VPI&SU S–751 20 Uppsala Sweden Blacksburg, VA 24061-0316 Telephone: 46-18-181105 Telephone: 1-703-231-7981 Email: Email: yannis@vtvm1 This paper provides an international perspective on the dynamics of housing prices in alternat...

We provide explicit solutions to life-cycle utility maximization problems simultaneously involving dynamic decisions on investments in stocks and bonds, consumption of perishable goods, and the rental and the ownership of residential real estate. House prices, stock prices, interest rates, and the labor income of the decision-maker follow correlated stochastic processes. The preferences of the ...

the paper in the study of poverty in pakistan is aimed at the analysis of macroeconomic determinants of poverty. it reviews the empirical literature on poverty in pakistan over the last thirty years. the literature varies from published research papers to the different reports produced by the national and the international institutions. it also estimates the impact of different causes of povert...

Thomas Egebo is an Administrator in Economic Prospects Division, Pete Richardson is the Head of the Econometric Unit and lan Lienert, previously an Administrator in Growth Studies Division, is now an Economist in the African Department of the International Monetary Fund. Special thanks go to John Martin and the referees for comments on earlier drafts and also to David Reifschneider, now at the ...