Does Bike Sharing Increase House Prices? Evidence From Micro-Level Data in Shanghai

2019 ◽  
Author(s):  
Zhengyi Zhou ◽  
Hongchang Li ◽  
Anming Zhang
2020 ◽  
Vol 20 (67) ◽  
Author(s):  
Juliana Araujo ◽  
Manasa Patnam ◽  
Adina Popescu ◽  
Fabian Valencia ◽  
Weijia Yao

This paper builds a novel database on the effects of macroprudential policy drawing from 58 empirical studies, comprising over 6,000 results on a wide range of instruments and outcome variables. It encompasses information on statistical significance, standardized magnitudes, and other characteristics of the estimates. Using meta-analysis techniques, the paper estimates average effects to find i) statistically significant effects on credit, but with considerable heterogeneity across instruments; ii) weaker and more imprecise effects on house prices; iii) quantitatively stronger effects in emerging markets and among studies using micro-level data; and iii) statistically significant evidence of leakages and spillovers. Other findings include relatively stronger impacts for tightening than loosening actions and negative effects on economic activity in the near term.


2016 ◽  
Vol 132 (1) ◽  
pp. 271-316 ◽  
Author(s):  
Xavier Giroud ◽  
Holger M. Mueller

Abstract This article argues that firms’ balance sheets were instrumental in the transmission of consumer demand shocks during the Great Recession. Using micro-level data from the U.S. Census Bureau, we find that establishments of more highly levered firms experienced significantly larger employment losses in response to declines in local consumer demand. These results are not driven by firms being less productive, having expanded too much prior to the Great Recession, or being generally more sensitive to fluctuations in either aggregate employment or house prices. Likewise, at the county level, we find that counties with more highly levered firms experienced significantly larger declines in employment in response to local consumer demand shocks. Accordingly, firms’ balance sheets also matter for aggregate employment. Our results suggest a possible role for employment policies that target firms directly besides conventional stimulus.


2020 ◽  
Vol 13 (3) ◽  
pp. 475-501
Author(s):  
Xiaojun Yuan ◽  
Yinjie Shen ◽  
Haigang Zhou

Purpose This paper aims to identify how house price affects household consumption. Design/methodology/approach The authors use a micro-level data set that tracks the house price and consumption of a vast number of households over a period of four years. OLS regression is the main econometric method. Findings The authors document robust evidence that an increase in house prices stimulates household consumption, regardless of whether a household owns or rents. Moreover, the authors find that both acquiring and losing homeownership negatively affects household consumption. Further investigation suggests significant regional heterogeneity in the relationship between house prices and household consumption. Originality/value This is one of the first studies examining the relationship between house price and household consumption in China using micro-level data. Given the uniqueness of the Chinese housing market and China’s fast-growing consumption rate, the study contributes new evidence to the long-lasting debate.


2011 ◽  
Vol 38 (2) ◽  
pp. 116-134 ◽  
Author(s):  
Rajeev K. Goel ◽  
Christoph Grimpe
Keyword(s):  

2021 ◽  
pp. 1-22
Author(s):  
Connor Huff ◽  
Robert Schub

Abstract How does the design of military institutions affect who bears the costs of war? We answer this question by studying the transformative shift from segregated to integrated US military units during the Korean War. Combining new micro-level data on combat fatalities with archival data on the deployment and racial composition of military battalions, we show that Black and white soldiers died at similar rates under segregation. Qualitative and quantitative evidence provides one potential explanation for this counterintuitive null finding: acute battlefield concerns necessitated deploying military units wherever soldiers were needed, regardless of their race. We next argue that the mid-war racial integration of units, which tied the fates of soldiers more closely together, should not alter the relative fatality rates. The evidence is consistent with this expectation. Finally, while aggregate fatality rates were equal across races, segregation enabled short-term casualty discrepancies. Under segregation there were high casualty periods for white units followed by high casualty periods for Black units. Integration eliminated this variability. This research note highlights how enshrining segregationist policies within militaries creates permissive conditions for either commanders' choices, or the dictates and variability of conflict, to shape who bears war's costs.


2016 ◽  
Vol 7 (2) ◽  
pp. 289-310 ◽  
Author(s):  
Gani Aldashev ◽  
Giovanni Mastrobuoni

In close elections, a sufficiently high share of invalid ballots—if driven by voter mistakes or electoral fraud—can jeopardize the electoral outcome. We study how the closeness of electoral race relates to the share of invalid ballots, under the traditional paper-ballot hand-counted voting technology. Using a large micro-level data set from the Italian parliamentary elections in 1994–2001, we find a strong robust negative relationship between the margin of victory of the leading candidate over the nearest rival and the share of invalid ballots. We argue that this relationship is not driven by voter mistakes, protest, or electoral fraud. The explanation that garners most support is that of rational allocation of effort by election officers and party representatives, with higher rates ofdetectionof invalid ballots in close elections.


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