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Articles ( Showing 1-20 of 21 items)
Searched for: [ Keywords: "Land pricing" ] clear all
Journal Article
State intervention in land pricing and endogenous risk aversion
by Yong He
Abstract
This study explores the cause and effect of endogenous risk aversion in land pricing, where state intervention through taxation remains a general practice. Using a consumption-based asset pricing model incorporating taxation, it is shown that high taxation, due to the indexation effect, supporting land prices and reducing individuals' risk expectations, could lead to an endogen [...] Read more

Journal Article
Housing Prices and Land Use Regulations: A Study of 250 Major US Cities
by Theo S. Eicher
Abstract
Income and population growth are key determinants of housing demand, while land use regulations are designed to affect housing supply. Previous studies of housing price determinants focus either on specific regulations in particular cities/regions, or on selective subsets of major cities and regulations. This study examines the impact of land use regulations on housing prices f [...] Read more

Journal Article
Impact of Social Capital on Land Arrangement Behavior of Migrant Workers in China
by Minglei Zhu , Xiaowei Song  and  Wenxin Chen
Abstract
In China, the land arrangement behavior of over 160 million rural-urban migrant workers is closely related to the optimal allocation of rural land resources and sustainable development of urban and rural areas. Although previous studies show that social capital affects migrant workers’ land arrangement behavior, few empirical studies reveal the relationship between them, [...] Read more

Journal Article
Gender Disparities in Land Rights a Myth or a Reality? Case studies of the situations in Kenya and Tanzania
by Sule Ayannor Issaka
Abstract
All things being equal, and in a truly democratic world, one will expect that the fact that women are the majority in almost every single community of the world should guarantee them at least equal control or ownership over resources and enjoy most of the rights and privileges in that particular community. But things seem not to be working that way as evidence from the literatu [...] Read more

Journal Article
The high price of green energy: Adjustments in general equilibrium
by Henry Thompson
Abstract
The high price of energy due to green energy policy will cause adjustments across the US economy predicted in the present general equilibrium model that includes energy Btu input with capital and labor to produce manufactures and services. This same model in trade theory examines the effects of a tariff on an imported factor of production such as a natural resource or capital.& [...] Read more

Journal Article
Interactive influence of house prices and the repo rate on household debt in South Africa
by Juniours Marire
Abstract
The recent interest rate policy decisions of the South African Reserve Bank have been criticized significantly by left-leaning political parties and civic society organisations for being anti-poor, anti-labour, and pro-capital because of their implications for household debt. Existing literature has established that interest rates and house prices are insignificant determinants [...] Read more

Journal Article
The Effect of Public Contract Winning Announcements on Share Prices: An Event-Based Study on the Pharmaceutical Industry
by Eyden Samunderu  and  Anita Yordanova
Abstract
The purpose of this paper is to examine and elucidate the effect of the announcement of winning a US federal contract by pharmaceutical companies, traded on the NASDAQ stock exchange on the share prices. The analysis is based on a sample of 327 event days from 12 pharmaceutical companies listed on the NASDAQ market for a given period (2010 – 2021). The sample is analysed [...] Read more

Journal Article
The Policy Relevance of Urban Scaling Laws: A Study on Impervious Ground in German Cities
by Rolf Bergs
Abstract
The expansion of urban infrastructure is an important indicator of agglomeration and a major factor in the deterioration of the urban environment. The investment in urban infrastructure is accompanied by the sealing of ground. The implementation of effective policies to reduce the practice of sealing ground is impeded by the existence of conflicting interests and fiscal disince [...] Read more

Journal Article
Agglomeration Economies and Rural-to-Urban Migration in India
by Arup Mitra  and  Rajesh Raushan
Abstract
Keeping in view the concept of agglomeration economies and the New Economic Geography (NEG) angle, this paper makes an attempt to examine the rural to urban population movement at the district level in India. The findings do not favour a strong positive association between levels of urbanization and migration rates.  However, there exists a cluster of districts which are a [...] Read more

Journal Article
Assessment of exchange rate determination in a mono-resource economy: A case of Nigeria
by Nakorji Musa , Oji-okoro Izuchukwu  and  Seyi Saint Akadiri
Abstract
This study examined the determinants of the exchange rate in a mono-resource economy, during the period of currency and oil price fall in Nigeria. The aim of the study is to ascertain the potentiality of economic diversification (non-oil export) in saving the falling value of the domestic currency, as well as, its stability. The study employed the use of monthly data from the C [...] Read more

Journal Article
Forecasting Parameters in the SABR Model
by Li Chen , Jianing Zhu  and  Cunyi Yang
Abstract
We present two approaches to forecasting parameters in the SABR model. The first approach is the vector autoregressive moving-average model (VARMA) for the time series of the in-sample calibrated parameters, and the second is based on machine learning techniques called epsilon-support vector regression (ε-SVR). Using daily data of S&P 500 ETF option prices from Janu [...] Read more

Journal Article
Welfare Effects of Commodity Taxation
by Fritz Helmedag
Abstract
In reality firms most often face negatively sloped demand curves. Then, for a given level of consumers’ surplus, levies on prices yield higher fiscal revenues than specific duties. Therefore, according to the prevailing view, the switch from unit to ad valorem taxation is supposed to generate more welfare; some even speak of an associated Pareto-improvement. However, this [...] Read more

Journal Article
Optimal Commodity Storage: Privately and Publicly Financed Storage Compared
by Paul Hallwood
Abstract
Consideration of optimal commodity storage with different discount rates. Finding that, even with a lower discount rate than private storage, optimal government-financed storage may not narrow price fluctuations compared with optimal privately financed storage because a government has to choose a probability of buffer stock failure greater than zero to economize on storage cost [...] Read more

Journal Article
Budget deficit and money holding when consumers live forever in an endogenous growth model
by Yasuhito Tanaka
Abstract
In this paper I will show that budget deficit (or fiscal deficit) is necessary to achieve full employment under constant prices or inflation, using a model of endogenous growth in which consumers hold money for the reason of liquidity and live forever. Budget deficit need not be offset by future budget surpluses. I consider the continuous time case by taking the limit of the di [...] Read more

Journal Article
An overlapping generations version of Krugman’s world’s smallest macroeconomic model and fiscal deficit
by Yasuhito Tanaka
Abstract
This paper attempts to introduce an overlapping generations structure into Paul Krugman's "The world's smallest macroeconomic model" (Krugman (1999)) to examine the implications of fiscal policy, particularly fiscal deficits, in a framework suitable for policy analysis. In that paper, Krugman argued that under the price rigidity assumption, a shortage in the money supply leads [...] Read more

Journal Article
Portfolio rebalancing in times of stress: Capital markets vs. Commodities
by Rui Manuel Teixeira Dias , Nicole Rebolo Horta  and  Mariana Chambino
Abstract
In light of the events of 2020 and 2022, this study aims to examine the co-movements between the capital markets of the Netherlands (AEX), France (CAC 40), Germany (DAX 30), the United Kingdom (FTSE 100), Italy (FTSE MIB), Spain (IBEX 35), Russia (IMOEX), and spot prices of crude oil (WTI), silver (XAG), gold (XAU), and platinum (XPT) from January 1, 2018 to December 31, 2022. [...] Read more

Journal Article
Critical condition for deposit insurance to partially or fully substitute for raising capital under cyclical economic environment
by Hong Mao , Krzysztof Ostaszewski  and  Jin Wang
Abstract
Regulation of financial institutions has two key purposes: Solvency (prudential regulation) and consumer protection. Prudential regulation is implemented mainly by capital requirements, but governments also provide insurance for customer deposits, as a backup tool. In this article, we discuss the critical conditions for deposit insurance and capitalization to act as substitutes [...] Read more

Journal Article
An Operational Framework for a Low-carbon, Green Growth Economy: CO-STIRPAT Dynamic System
by Ick Jin
Abstract
This paper presents an operational framework for assessing the trajectories of production, energy, emissions, and capital accumulation to ensure the implementation of Nationally Determined Contributions (NDCs). The framework combines widely used methodologies (STIRPAT, system dynamics, and optimization) to simulate the pathways of variables until a target year. The CO-STIRPAT d [...] Read more

Journal Article
Five Common Finance and Accounting Problems of Start-Up Companies
by Derrald Stice , Earl K. Stice  and  James D. Stice
Abstract
You have a product or service for which the world has been waiting. You've scraped together enough cash to get your idea off the ground. You are confident that your business will succeed. And yet, it is often the case that a short time later you are out of business. Numbers from the U.S. Bureau of Labor Statistics indicate that about half of new businesses fail within the first [...] Read more

Journal Article
Do Bank Capital Requirements Make Resource Allocation Suboptimal?
by Sangkyun Park
Abstract
Bank capital requirements would entail large social costs if they made resource allocation suboptimal and banking services costly by unduly limiting the banks’ ability to lend. This paper considers three main factors that may make capital requirements relevant, namely, deposit insurance subsidies, stock valuation errors, and tax shields derived from debt financing. The th [...] Read more