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  • 1
    Monograph available for loan
    Monograph available for loan
    Cambridge [u.a.] : MIT Press
    Call number: PIK B 010-13-0115
    Description / Table of Contents: Contents: 1 Why cities exist ; 2 Analyzing urban spatial structure ; 3 Modification of the urban model ; 4 Urban sprawl and land-use controls ; 5 Freeway congestion ; 6 Housing demand and tenure choice ; 7 Housing policies ; 8 Local public goods and services ; 9 Pollution ; 10 Crime ; 11 Urban quality-of-life measurement
    Type of Medium: Monograph available for loan
    Pages: X, 285 S. : graph. Darst.
    ISBN: 9780262016360
    Location: A 18 - must be ordered
    Branch Library: PIK Library
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  • 2
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Real estate economics 12 (1984), S. 0 
    ISSN: 1540-6229
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Since buyers offer a premium for access to creative financing (CF), creatively-financed houses will sell for more than otherwise identical houses purchased with standard financing. A commonly suggested method for adjusting house values to eliminate the effects of CF is the “cash equivalence” method, where the CF premium is assumed to equal the present value of savings from CF. This paper shows that in a world with active housing speculators, the cash equivalence approach gives the right answer: In an “arbitrage” equilibrium, house values must differ by exactly the present value of CF savings. Further analysis shows that when capital markets are perfect, each consumer is indifferent between CF and standard financing when arbitrage equilibrium obtains. Without perfect capital markets, however, consumers will strictly prefer one financing mode or the other.
    Type of Medium: Electronic Resource
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  • 3
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Real estate economics 21 (1993), S. 0 
    ISSN: 1540-6229
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper suggests a resolution to the paradox of inefficient risk bearing by adjustable-rate mortgage (ARM) borrowers. The analysis shows that when contracts are written in a realistic way, with payments linked across time via a common loan-rate function, risk sharing and the tilt of the mortgage payment stream become inextricably linked. Unless time preferences are identical or the cost of funds exhibits no time trend, borrowers will accept interest-rate risk in order to gain a more favorable time path of mortgage payments.
    Type of Medium: Electronic Resource
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  • 4
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Real estate economics 13 (1985), S. 0 
    ISSN: 1540-6229
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper uses a two-period model to analyze the borrower's choice of an optimal time pattern of mortgage payments in a world where future house values are uncertain. Since a decline in values can make the borrower's equity negative, leading to default on the mortgage, lenders in the model will require the purchase of mortgage insurance. The premium on the insurance policy will depend on the riskiness of the mortgage, which in turn depends on the magnitude of the initial mortgage payment. Mortgages with large (small) first payments will carry low (high) insurance premiums. Taking this fact into account, the borrower decides on the optimal riskiness of his mortgage. Borrowers who discount the future heavily choose risky mortgages carrying high insurance premiums, while those who place a higher value on future consumption opt for less risky contracts carrying low (or zero) premiums.
    Type of Medium: Electronic Resource
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  • 5
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Real estate economics 12 (1984), S. 0 
    ISSN: 1540-6229
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Given the recent flood of new mortgage innovations, it is natural to wonder what features a mortgage which is “optimal” from the consumer's point of view might possess. This paper investigates this issue, using optimal control theory to characterize the time profile of mortgage payments (as well as the value of the mortgage) that maximizes an intertemporal utility function. Among other things, the analysis shows that the optimal mortgage payment stream rises over time under reasonable assumptions, highlighting the non-optimality of the standard flat-payment mortgage.
    Type of Medium: Electronic Resource
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  • 6
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Papers in regional science 56 (1985), S. 0 
    ISSN: 1435-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography , Economics
    Notes: New theoretical work in urban economics suggests that urban population density contours are inherently discontinuous. This result calls into question the standard practice of estimating smooth density contours and indicates a need for an estimation technique capable of capturing discontinuities. This paper employs such a technique by applying Quandt's switching regression method to the estimation problem. Density contours with marked discontinuities emerge from the empirical work.
    Type of Medium: Electronic Resource
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  • 7
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Real estate economics 14 (1986), S. 0 
    ISSN: 1540-6229
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
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  • 8
    Electronic Resource
    Electronic Resource
    Boston, USA and Oxford, UK : Blackwell Publishers Inc
    Journal of regional science 41 (2001), S. 0 
    ISSN: 1467-9787
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography , Economics
    Notes: Recent research in the Harris-Todaro (HT) tradition has added an important new element to the model by incorporating an urban land market. Brueckner and Zenou (1999) (hereafter BZ) argue that a model where migration equalizes expected wages between city and countryside may overlook another important force that equilibrates the process of rural-urban migration. This force is the migration-induced rise in the urban cost of living, which occurs principally through escalation of urban land rents as the city population expands. Land-rent escalation, which tends to limit rural-urban migration, provides an important additional force that may help determine city sizes in developing countries. The present paper provides a simpler alternative to BZ's analysis by assuming that urban residents smooth their income as they cycle between formal and informal employment. This allows migration decisions to be based on the expected wage, as in the usual HT framework, in a model that includes a land market. The analysis shows that this modified framework generates results slightly different from those of BZ.
    Type of Medium: Electronic Resource
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  • 9
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of regional science 22 (1982), S. 0 
    ISSN: 1467-9787
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography , Economics
    Type of Medium: Electronic Resource
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  • 10
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of regional science 21 (1981), S. 0 
    ISSN: 1467-9787
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography , Economics
    Type of Medium: Electronic Resource
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