http://www.bis.org/cbhub/list/jel_classification/jel_R30/index.rss Latest research hub papers with the JEL classification:R30 en http://www.chicagofed.org/webpages/publications/working_papers/2013/wp_01.cfm Chicago Fed Working papers by Jason Faberman, Matthew Freedman The Urban Density Premium across Establishments 2013-04-15T09:13:59Z We use longitudinal micro data to estimate the urban density premium for U.S. establishments, controlling for observed establishment characteristics and dynamic establishment behavior. We find that a doubling of urban density increases the average earnings of establishments by between 6 and 10 percent. The result holds after controlling for endogeneity issues and with the use of alternative measures of density. We find strong evidence against accumulated knowledge spillovers over time at the establishment level-that is, the density premium is realized at birth and is constant over the life of establishments. We find little evidence that the endogenous entry or exit of establishments can account for any of the estimated density premium. The Urban Density Premium across Establishments 2013-04-15T09:13:59Z Abstract http://www.chicagofed.org/webpages/publications/working_papers/2013/wp_01.cfm Full text http://www.chicagofed.org/digital_assets/publications/working_papers/2013/wp2013_01.pdf R. Jason Faberman Matthew Freedman Jason Faberman, Matthew Freedman 2013-04 Chicago Fed Working papers R12 R30 http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1461.pdf European Central Bank Working papers by Luca Gattini, Ioannis Ganoulis House price responsiveness of housing investments across major European economies 2012-08-27T18:21:00Z In comparison with the large literature on house prices, housing investments have been studied far less. This paper investigates the behaviour of private residential investments for the six largest European economies, namely: Germany, France, Italy, Spain, the Netherlands and the United Kingdom. It employs a common modelling structure based on an error correction approach and country specific models. First, co-integration among the parsimoniously specified set of fundamental variables is detected in all countries. Second, cross-country differences are found in the responsiveness of private residential investments to real prices and to other relevant factors. Germany has the strongest response of private residential investments to house price changes whereas Italy shows the lowest responses. In Spain investments seem to be primarily related to their lagged component and short-term changes in house prices, and show a poor relationship with deviations from long-term fundamentals. In some countries, the lagged component of residential investments seems to point to a high persistency effect. House price responsiveness of housing investments across major European economies 2012-08-27T18:21:00Z ECB Full text http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1461.pdf Ioannis Ganoulis Luca Gattini Luca Gattini, Ioannis Ganoulis 2012-08-21 European Central Bank Working papers C2 E22 R30 http://www.bancaditalia.it/pubblicazioni/econo/temidi/td12/td865_12/en_td865/en_tema_865.pdf Bank of Italy Working Papers by Rita Cappariello, Stefano Federico and Roberta Zizza Corporate geography in multi-plant firms 2012-05-11T17:38:00Z This paper focuses on how multi-plant firms allocate their workforce and investments between headquarters or plants located in or close to the headquarters area (HQ plants) and those located in the same country but farther away from the headquarters area (non-HQ plants). Using survey data on Italian industrial multi-plant firms for the last decade, we find that, for the same firm, employment and investments grow significantly less in non-HQ plants compared to HQ plants. We discuss several possible interpretations of these "corporate geography" patterns. Corporate geography in multi-plant firms 2012-05-11T17:38:00Z Abstract http://www.bancaditalia.it/pubblicazioni/econo/temidi/td12/td865_12/en_td865 Full text http://www.bancaditalia.it/pubblicazioni/econo/temidi/td12/td865_12/en_td865/en_tema_865.pdf Stefano Federico Roberta Zizza Rita Cappariello Rita Cappariello, Stefano Federico and Roberta Zizza 2012-05 Bank of Italy Working Papers F23 L20 R30 http://www.clevelandfed.org/research/workpaper/2010/wp1011.pdf Cleveland Fed Working papers by Daniel Hartley The Effect of Foreclosures on Nearby Housing Prices: Supply or Disamenity? 2010-09-03T06:23:00Z Several studies have measured negative price effects of foreclosed residential properties on nearby property sales. However, these studies do not address which mechanism is responsible for these effects. I measure separate effects for different types of foreclosed properties and use these estimates to decompose the effects of foreclosures on nearby home prices into a component that is due to additional available housing supply and a component that is due to disamenity stemming from deferred maintenance or vacancy. I estimate that each extra unit of supply decreases prices within 250 feet by about 1.6% in low-vacancy-rate census tracts while the disamenity stemming from a foreclosed property is near zero. In high-vacancy-rate census tracts the story is reversed: each extra unit of foreclosure is associated with a disamenity effect of about -2% within 250 feet but no supply effect. The Effect of Foreclosures on Nearby Housing Prices: Supply or Disamenity? 2010-09-03T06:23:00Z Full text http://www.clevelandfed.org/research/workpaper/2010/wp1011.pdf Daniel Hartley Daniel Hartley 2010-09 Cleveland Fed Working papers H23 R20 R30 http://www.newyorkfed.org/research/economists/deitz/index.html New York Fed Staff reports by Richard Deitz and Jaison R. Abel Have Amenities Become Relatively More Important Than Firm Productivity Advantages in Metropolitan Areas? 2008-09-04T07:12:59Z Have Amenities Become Relatively More Important Than Firm Productivity Advantages in Metropolitan Areas? 2008-09-04T07:12:59Z Abstract http://www.newyorkfed.org/research/staff_reports/sr344.html Full text http://www.newyorkfed.org/research/economists/deitz/index.html Richard Deitz Jaison R. Abel Richard Deitz and Jaison R. Abel 2008-09 New York Fed Staff reports R23 R30 http://www.chicagofed.org/publications/workingpapers/wp2006_20.pdf Chicago Fed Working papers by Thomas H. Klier, Daniel McMillen Evolving Agglomeration in the U.S. auto supplier industry 2007-01-01T12:00:00Z Evolving Agglomeration in the U.S. auto supplier industry 2007-01-01T12:00:00Z Abstract http://www.chicagofed.org/economic_research_and_data/wp_abstract.cfm?pubsID=826 Full text http://www.chicagofed.org/publications/workingpapers/wp2006_20.pdf Thomas H. Klier Daniel McMillen Thomas H. Klier, Daniel McMillen 2006-12 Chicago Fed Working papers L62 R15 R30 http://www.chicagofed.org/publications/workingpapers/wp2005_18.pdf Chicago Fed Working papers by Thomas H. Klier, Dan McMillen Clustering of Auto Supplier Plants in the U.S.: GMM Spatial Logit for Large Samples 2005-12-19T17:34:00Z Clustering of Auto Supplier Plants in the U.S.: GMM Spatial Logit for Large Samples 2005-12-19T17:34:00Z Abstract http://www.chicagofed.org/economic_research_and_data/wp_abstract.cfm?pubsID=748 Full text http://www.chicagofed.org/publications/workingpapers/wp2005_18.pdf Thomas H. Klier Dan McMillen Thomas H. Klier, Dan McMillen 2005-12 Chicago Fed Working papers L62 R15 R30 http://www.chicagofed.org/publications/workingpapers/wp2004_27.pdf Chicago Fed Working papers by Thomas Klier, Paul Ma, Daniel McMillen Comparing location decisions of domestic and foreign auto supplier plants 2004-12-01T12:00:00Z Comparing location decisions of domestic and foreign auto supplier plants 2004-12-01T12:00:00Z Abstract http://www.chicagofed.org/economic_research_and_data/wp_abstract.cfm?pubsID=681 Full text http://www.chicagofed.org/publications/workingpapers/wp2004_27.pdf Paul Ma Daniel McMillen Thomas Klier Thomas Klier, Paul Ma, Daniel McMillen 2004-12 Chicago Fed Working papers L62 R12 R30 http://www.newyorkfed.org/research/epr/02v08n2/0211bram.pdf New York Fed Economic policy review by Jason Bram , Andrew Haughwout , and James Orr Has September 11 Affected New York City’s Growth Potential? 2004-01-01T12:00:00Z Has September 11 Affected New York City’s Growth Potential? 2004-01-01T12:00:00Z Abstract http://www.newyorkfed.org/research/epr/02v08n2/0211bram.html Full text http://www.newyorkfed.org/research/epr/02v08n2/0211bram.pdf Andrew Haughwout Jason Bram James Orr Jason Bram , Andrew Haughwout , and James Orr 2002-11 New York Fed Economic policy review R11 R15 R30