Incorporating spatial econometric tools in Hedonic Pricing (HP) models for environmental valuation has become the standard approach in the literature. The effect of house prices on other house prices is taken into account and usually measured by distance or contiguity in spatial weight matrices. Disaggregate house sale datasets are composed from observations each at a specific location and time...

The value of land in the balance sheet of French firms correlates positively with their hiring and investment flows. To explore the relationship between these variables, we develop a macroeconomic model with firms that are subject to both credit and labor market frictions. The value of collateral is driven by the forward-looking dynamics of the land price, which reacts endogenously to fundament...

This paper presents a conceptual design for an agent-based bilateral residential land market. The design includes interactions between multiple buyers and sellers (household agents, developers, and rural land owners) and two local feedbacks to land value—price expectation formation based on local neighborhoods and spatial externalities. To address the methodological challenges inherent in the t...

ABSTRACT Past studies have shown that changes in the house price of a region may transmit to its neighbouring regions. The transmission mechanism may follow spatial and temporal diffusion processes. This paper investigates such regional housing market dynamics and interactions among local housing sub-markets in Taipei. The analysis is based on a panel data framework and spatial panel models usi...