Contrary to the conventional diagnosis of urban problems, this article argues that these problems do not arise from the long-term trends in the decentralization of employment and population in metropolitan areas. Instead, the most important fiscal problems confronted by central-city governments and the most significant social and economic problems of central-city residents arise from increased ...

The purpose of this paper is to identify structural changes in the Korean housing market for evaluating the sustainability of the Korean housing market and to derive important implications to seek housing business strategies and public policies. Two time periods were analyzed: April 2001–December 2007 and January 2008–December 2014 to identify the impact after the global financial crisis of 200...

We investigate the effects of interregional labor market integration in a twosector, overlapping-generations model with land-intensive production in the nontradable goods sector (housing). To capture the response to migration on housing supply, capital formation is endogenous, assuming that firms face capital adjustment costs. Our analysis highlights heterogeneous welfare effects of labor marke...

With the establishment of the system of public rental housing supply, the vulnerable group would get great benefit in the promotion of social welfare, however, due to the existence of price gap and the imperfection of the public rental housing system, the game relationship formed between the management authority and the security object. Based on the definition to the security object in the publ...

I use newly-released administrative data on properties owned by overseas companies to study the effect of foreign investment on the housing market in England and Wales. To estimate the causal effect, I construct an instrument for foreign investment based on economic shocks abroad. Foreign investment is found to have a positive effect on house price growth. This effect is present at different pe...