Nominal price rigidities are analyzed from two different perspectives. From a qualitative point of view as Kashyap (1995) we look for coherent signs which confirm the presence of fixed costs of adjustment, and therefore the validity of state-dependent pricing rules. Our data concern a mail order Italian company and confirm that individual prices do not mimic the aggregate price index, as it was...

I will focus on the role of housing for the macro‐economy rather than giving a detailed prediction for the overall performance of the economy or the bond and stock markets. We recently had an interesting conference on that topic at Stern. The consensus view among private sector and government economists is one of gradual improvement in economic performance into 2014 with about 3% real GDP growt...

This paper explores the property prices and investment dynamics over business cycle when there is competition between households firms for real estate. We introduce a construction sector into an RBC framework, which uses land, capital labour to produce both commercial residential market structure activates estate substitution channel, where increase in demand also increases cost of producing st...

Housing sale price prediction has been extensively studied under semiparametric regression models. However, semiparametric kernel machines with spatial effect term have not been studied yet. This paper proposes semiparametric spatial effect kernel minimum squared error model (SSEKMSEM) and least squares support vector machine (SSELS-SVM) for estimating a hedonic price function and compares the ...

decreasing qualitative aspects of residential environments is a real problem in recent public housing of kerman. this article is concentrated on surveying the impact of in-between spaces on residential environments quality (req), to evaluate different kinds of it and to determine interrelation of two main components: residents individual characteristics and characteristics of in-between spaces....

This study describes an application of the multicriteria single price model (Ballestero) to the ranking of alternatives. By a generalization of the original model, the equilibrium set of alternatives can be characterized from the viewpoints, respectively, of the demander and the supplier, and from that the efficiency index can be calculated. We demonstrate how, in a state of equilibrium, the tw...