a r t i c l e i n f o The Northridge earthquake of 1994 displaced almost 10,000 families and destroyed major transportation infrastructure within Southern California, and Hurricane Katrina created the largest national housing crisis since the Dust Bowl of 1930, destroying over 300,000 homes and leaving over one million people seeking shelter. Numerous smaller disasters each year such as tornado...

Urban economists understand housing prices with a spatial equilibrium approach that assumes people must be indifferent across locations. Since the spatial no arbitrage condition is inherently imprecise, other economists have turned to different no arbitrage conditions, such as the prediction that individuals must be indifferent between owning and renting. This paper argues the predictions from ...

The substantial adjustment cost for housing transactions affects a homeowner’s decision about when to move. It also affects her consumption of nondurables and her portfolio, at dates when a new house is purchased and over time intervals between moves. These decisions are studied using a calibrated dynamic model. For reasonable transaction costs, portfolios display substantial swings during inte...

Against the background of current housing affordability crisis, a new wave ‘collaborative housing’ (CH) is developing in many European cities. In this paper, CH refers to projects where residents choose share certain spaces and are involved design phase. While authors point alleged economic benefits living CH, (collaborative) dimension rarely mentioned relation affordability. This paper seeks f...

impacts on disability, mortality and health care systems has never been in doubt. Disability-adjusted life-years, standardised mortality rates and health care costs have all been used to aggregate these impacts – see, for example, the report by the World Health Organization (2001). However, what is frequently overlooked is a number of often substantial economic consequences, sometimes referred ...