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Prodotti recenti
The Mortensen-Pissarides Model and the empirical facts of housing markets
ABSTRACT Purpose – This paper aims to explain the main empirical facts of housing markets, notably the trade-off between housing price and time-on-the-market, the positive correlation between housing price and the number of contracts traded during a given period (i.e. the t...
Property valuation: the hedonic pricing model: the application of search-and-matching models
Abstract Purpose – The aim of this education briefing is to comment upon how basic hedonic pricing models for the valuation of property can be expanded and developed. In this case, the briefing illustrates the use of the new economic approach to the analysis of hous...
Measuring the Effect of Location on House Prices in Italy
The Italian housing market is characterised by both a strong heterogeneity of real estate assets and a reduced number of property sales. These features, indeed, hamper the use of the hedonic price method, namely, the method that is mostly used for assessing the house prices&#x...
The Beveridge Curve in the Housing Market
As opposed to a recent criticism (according to which a model à la Pissarides inherently generates a downward sloping Beveridge curve), this short theoretical paper shows that a baseline search-and-matching model is able to take into account the main distinctive features of the hous...
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