This paper argues that an increased application of quasi-experimental and experimental techniques will improve understanding about core environmental economics questions. This argument is supported ...by a review of the limitations of associational evidence in assessing causal hypotheses. The paper also discusses the benefits of experiments and quasi-experiments, outlines some quasi-experimental methods, and highlights threats to their validity. It then illustrates the quasi-experimental method by assessing the validity of a quasi-experiment that aims to estimate the impact of the Endangered Species Act on property markets in North Carolina. The paper's larger argument is that greater application of experimental and quasi-experimental techniques can identify efficient policies that increase social welfare.
How many households are evicted from their homes each year in Brussels? What is known about the profile of evicted tenants and landlords who have called for an eviction? Are some parts of the city ...more affected than others? Although they constitute an extreme case of deprivation of the right to housing, evictions from housing in Brussels are still very poorly documented. This article aims to address this lack of knowledge by providing a comprehensive snapshot of judicial evictions over one year (2018) for the entire Brussels Region. The results highlight the importance of questioning the lack of institutional data on housing evictions in a city where housing production and allocation is largely dominated by market mechanisms.
The commercial real estate market has been hit hard by the coronavirus. Many segments of commercial real estate in 2020 found themselves in a situation of complete cessation of activity due to the ...lockdown. Each segment is experiencing crises in the economy in its own way, however, it should be noted that even in the current circumstances, the commercial real estate market is mobile, supply and demand is present, real estate transactions are being made. The purpose of the study is to determine the capitalization rates for the trading segment using the direct capitalization method. Tasks: determining the state of the commercial real estate market, in particular the retail segment, determining which objects of the considered segments can be applied to the direct capitalization method, determining the calculation of the capitalization ratio, using regression analysis to refine the results of the capitalization ratios, analyzing the obtained values. The work used the method of direct capitalization, the method of direct comparison, regression analysis, data analysis. As a result of this study, capitalization rates for the trading segment were determined using the direct capitalization method. The objects of the considered segments are determined, to which it is possible to apply the direct capitalization method.
This study focuses on the real estate market in Romania and presents a forecasting model for predicting future real estate prices. The model, based on multiple linear regression, provides a ...comprehensive understanding of the market and enables real estate analysts to devise more efficient investment strategies. By enhancing investment efficiency, the model contributes to the overall efficiency of financial markets and supports sustained economic benefits for stakeholders. Although limited to a specific timeframe and apartment auction markets in Romania, future research can expand the model’s scope, improve accuracy through diverse data sets, and explore key factors for enhanced performance. The study’s contribution lies in its valuable insights for real estate analysts, enhancing investment efficiency, and fostering sustained economic benefits for stakeholders.
Humanity has been facing the pandemic (triggered at the start of 2020) generated by the new coronavirus for about two years. In a short space of time, the entire economic and social activity has been ...disrupted. For a lot of areas/sectors, uncertainty, insecurity and chaos were becoming the normal framework for doing business. New needs and desires, some of them difficult to anticipate, were starting to emerge. Gradually, each individual would experience the consequences of the pandemic with a different intensity and in various aspects of his/her personal and professional lives. All these changes have led to the emergence of a new lifestyle, which has also brought about farreaching changes in terms of buying behavior. The objective of this paper is to analyze the results obtained by a real estate company which has capitalized on the changes in buying behavior in the new environment generated by the pandemic.
In this article, we propose a two-stage LASSO estimation approach for the estimation of a full spatial weight matrix of spatiotemporal autoregressive models. In addition, we allow for an unknown ...number of structural breaks in the local means of each spatial location. These locally varying mean levels, however, can easily be mistaken as spatial dependence and vice versa. Thus, the proposed approach jointly estimates the spatial dependence, all structural breaks, and the local mean levels. For selection of the penalty parameter, we propose a completely new selection criterion based on the distance between the empirical spatial autocorrelation and the spatial dependence estimated in the model. Through simulation studies, we will show the finite-sample performance of the estimators and provide practical guidance as to when the approach could be applied. Finally, the method will be illustrated by an empirical example of intra-city monthly real-estate prices in Berlin between 1995 and 2014. The spatial units will be defined by the respective postal codes. The new approach allows us to estimate local mean levels and quantify the deviation of the observed prices from these levels due to spatial spillover effects. In doing so, the entire spatial dependence structure is estimated on a data-driven basis.
Supplementary materials
for this article are available online.
Rising asset prices spurred by Asia's emerging economy have drawn much attention recently. This study examines one source of growth patterns in asset prices by analyzing the integration relationship ...between stock markets and real estate markets in Asia. Six economies are selected for empirical analysis: China, Hong Kong, Japan, Singapore, South Korea, and Taiwan. Results show that stock markets are integrated with real estate markets in Japan, and partially integrated with real estate markets in China, Hong Kong, and Taiwan. This implies that these two investment vehicles are substitutable in China, Hong Kong, Japan, and Taiwan, and provide diversification potential for investment portfolios in South Korea and Singapore. Examining the timing of market changes, we found the real estate market leading the stock market in some countries, and the stock market leading the real estate market in others. We conclude that stock and real estate markets show a variety of inter-relationships depending on economic and political policy environments.
O texto procura expor, a partir de alguns elementos, a reflexão acerca das novas determinações existentes no processo de reprodução do espaço urbano da metrópole manauara. Estas chamadas ...determinações são tanto de natureza nova dentro do contexto urbano amazonense quanto do próprio processo de urbanização contemporânea, que numa relação multiescalar, compreende tanto grandes regiões quanto lugares específicos de um território específico. Aqui se tem a rodovia estadual AM-070, localizada no município de Iranduba e Manacapuru como lugar da análise, trazendo no reconhecimento dos processos que nela são atuantes, as possibilidades de compreensão dessas dinâmicas emergentes. O estabelecimento de um setor imobiliário e seus variados produtos (condomínios, loteamentos) produz uma realidade abruptamente nova neste fragmento do território, trazendo assim desafios à compreensão ao mesmo tempo que sua necessidade.
Le texte tente de présenter, à partir de quelques éléments, une réflexion sur les nouvelles déterminations existant dans le processus de reproduction de l'espace métropolitain de Manaus. Ces soi-disant déterminations sont à la fois d'une nature nouvelle dans le contexte urbain amazonien et le processus d'urbanisation contemporain lui-même, qui dans une relation multi-échelle comprend à la fois de grandes régions et des lieux spécifiques d'un territoire spécifique. Ici, nous avons la route nationale AM-070, d'Iranduba et Manacapuru comme lieu d'analyse, cherchant la reconnaissance des processus qui y sont actifs et les possibilités de comprendre ces dynamiques émergentes. La mise en place d'un secteur immobilier et de ses produits variés (copropriétés, lotissements) produit une nouvelle réalité dans ce fragment de territoire, apportant ainsi des défis à la compréhension, en même temps que sa nécessité.
The text tries to present, from some elements of an ongoing research, the reflection about the new determinations existing in the process of reproduction of the metropolitan space of Manaus. These so-called determinations are both of a new nature within the Amazonian urban context and of the contemporary urbanization process itself, which in a multi-scale relationship comprises both large regions and specific places of a specific territory. Here we have the state highway AM-070, located in the city of Iranduba and Manacapuru as a place of analysis, bringing in the recognition of the processes that are active in it, the possibilities of understanding these emerging dynamics. The establishment of a real estate sector and its varied products (condominiums, subdivisions) produces an abrupt new reality in this fragment of the territory, thus bringing challenges to understanding at the same time as its necessity.
In the literature, the linkage between income, energy, and carbon emissions has been widely examined and most of the empirical studies have not investigated the impact of the real estate market on ...their empirical models. Our study endeavors to present a novel topic by investigating the influence of the real estate market on Turkey’s environmental quality, using an advanced method of the Bootstrap Autoregressive Distributed Lag (BARDL). We estimate that consumption of renewable energy contributes significantly to CO2 emissions, while real income increases the environmental degradation in both the short and long run. Furthermore, our study demonstrates that the real estate market contributes negatively to the deduction of carbon emissions in Turkey. A one percent increase in the real estate market will cause a rise in Turkey’s carbon level by 0.010% and 0.009% in the short and long term, respectively. Our research suggests that Turkey should design new strategies for sustainable real estate markets to improve the environmental quality by supporting green investment projects.
PDF
