Government efforts to improve local economic conditions by encouraging private investment in targeted communities could affect the broader geographic distribution of employment in a region, especially to the extent that subsidized businesses face few constraints on whom they hire. This paper examines the labor market impacts of investment subsidized by the U.S. federal government’s New Markets ...

Any opinions expressed are those of the author and not those of the Joint Center for Housing Studies of Harvard University or of any of the persons or organizations providing support to the Joint Center for Housing Studies. Acknowledgment I would like to thank Sandra Newman and Joseph Harkness of the Institute for Policy Studies at Johns Hopkins University for helping me construct the overall f...

Housing market dynamics have primarily shifted from consumption- to investment-driven in many countries, including Australia. Building on investment theory, we investigated by placing demand at the center using error correction model (ECM). We found that house prices, rents, and interest rates are cointegrated long run under present value framework. Other economic factors such as population gro...

— The sale and lease real estate markets have cyclical developments which are often dissimilar in the short term and then take coincident trends in longer horizons. The imbalance in the relationship between prices and income is normally used by economists to determine any "housing bubbles". However, the structural limitations require caution in the use of the ratio between prices and rents as a...

Modifying the proof of a theorem of Wilkie, it is shown that if a one dimnsional set S is definable in an O minimal expansion of the ordered field of the reals, and if it is regularly exponentially near to many integral points, then there is an unbounded set, which is R definable without parameters, and which is exponentially near to S.

In this article we will describe some of the main developments in interest-rate modelling since Black & Scholes’ (1973) and Merton’s (1973) original articles on the pricing of equity derivatives. In particular, we will focus on continuoustime, arbitrage-free models for the full term structure of interest rates. Other models which model a limited number of key interest rates or which operate in ...

Karachi is one of the world's fastest growing large cities. This paper describes the complex processes by which land is (formally and informally) made available for housing (and for commercial development), as well as who benefits - and how the low-income majority of Karachi citizens lose out. It also describes what underpins this - especially the political complications in a city that has grow...

cycles fluctuations in housing investment and national economy, variation in consumers and producers behavior, deviation in allocation of economic resources, the aggravation of capital transfer in asset market, the variation of income distribution pattern and imbalance in resource and expenses are the consequences of fluctuations in housing prices. these consequences and its control and recogni...

The paper studies the impact of the portfolio constraint imposed by the consumption demand for housing (the “housing constraint”) on the household’s optimal holdings of financial assets. Since the ratio of housing to net worth declines as the household accumulates wealth, the housing constraint induces a life-cycle pattern in the portfolio shares of stocks and bonds. For reasonable degrees of r...

When most people hear the words affordable housing, they picture old-style urban public housing with apartments stacked end-to-end, replete with graffiti and shadylooking characters, unkempt and marked by a general malaise. Nothing seems healthy about it. But today’s affordable housing is different. Successful projects are well-designed, built to a reasonable scale, and have landscaping and ame...